Accountant sentenced to eight years in jail for devising and promoting tax fraud schemes based on film industry loopholes December 20, 2015 A former Ernst & Young partner was sentenced to eight years in jail at the end of last week for his role in a tax fraud scheme. Terence Potter, working alongside independent financial advisor Neil Williams-Denton, devised and promoted fraudulent schemes, which were based on tax avoidance schemes that take advantage of legal loopholes relating to [...]
Netflix corporation tax bill was zero last year despite millons of customers, report claims December 20, 2015 Netflix is the latest company to face scrutiny over its tax arrangements as it was revealed that it paid no corporation tax in the UK last year, reports claim. It's estimated the TV and film subscription service known for Emmy award winning shows House of Cards and Orange is the New Black, made £200m in revenues from its [...]
Shire Pharmaceuticals offers more cash in a bid to woo rival Baxalta December 20, 2015 Pharmaceutical giant Shire has not given up hope in its proposed takeover of US drug firm Baxalta. The Irish company could increase the cash element of its bid in order to move things along with its rival, which has resisted Shire’s overtures since the summer. The £8bn cash booster, which was first reported in the Sunday [...]
Report: Post Office getting close to a deal with British lender to offer small business banking services at 11,500 branches December 20, 2015 British banks are reportedly nearing a deal with the Post Office that could lead to the closure of thousands of local bank branches. Under the agreement, the Post Office will be able to serve small business customers from leading UK banks. The Post Office, which operates over 11,500 branches across the country, currently provides deposit [...]
UK house prices: Home ownership is a distant dream even for middle England December 20, 2015 Almost half of people who don't own their own home believe they never will as the time needed to save for a deposit hits an astonishing 24 years. Even a quarter of the richest of non-home owners think they will never get a foot on the first rung of the property ladder, new research reveals. "Low to middle [...]
Morrisons prepares for first day of trading on FTSE 250 along with G4S, while Worldpay gets ready for the blue chip index December 20, 2015 Tomorrow will be Morrisons’ first day trading on the FTSE 250, after being demoted from the blue-chip index in the last quarterly review. Security firm G4S and engineering firm Meggitt, will also have their first day of trading on the FTSE 250. It will be a happier day for Worldpay, which will join the FTSE [...]
EU referendum: Challenger bank boss says smaller UK lenders would be better off outside of the EU December 20, 2015 The boss of a leading challenger bank has said that Britain's smaller lenders may be better off if British voters back leaving the European Union. Paul Lynam, chief executive of Secure Trust and head of the British Bankers' Association (BBA) challenger bank panel, told City A.M. over the weekend: "Arguably a Brexit would put the UK in more control [...]
Another one bites the dust: Rolls-Royce loses another high-profile investor as Old Mutual Global Investors’ Richard Buxton confirms he has sold his shares December 20, 2015 Rolls-Royce has lost yet another high-profile investor, as one leading City figure confirmed over the weekend that he has offloaded his shares in the struggling aircraft engine maker. Old Mutual Global Investors chief executive Richard Buxton told The Sunday Telegraph that he sold his stake in Rolls-Royce less month, after the company issued its fifth [...]
Dutch court says Nigerian farmers can sue Royal Dutch Shell over oil spills in Niger Delta December 18, 2015 Royal Dutch Shell could have to pay compensation for oil spills in Nigeria, following a landmark ruling by the Dutch appeals court. During a five minute verdict given this morning, judges at the Hague ordered the oil giant to hand over documents relating to oil spills in the Niger Delta, where the company's subsidiary Shell [...]
Two carriages of Alton Towers rollercoaster Smiler collide December 18, 2015 Update: Four people have been seriously injured after two carriages of a roller-coaster at theme park Alton Towers collided this afternoon. There were 16 people in one carriage of the Smiler ride, and the other carriage was empty and stationary. A 999 call was made just after 2pm today, and four ambulances arrived on [...]