Las Iguanas owner to sell £150m bonds September 20, 2015 THE OWNER of restaurant brands Cafe Rouge and Bella Italia, is planning to tap the debt markets as part of a refinancing that would see the group issue around £150m worth of bonds. Casual Dining Group (CDG), which was previously known as Tragus, has undergone a major restructuring since a consortium led by private equity [...]
HMRC’s tax probes drag on says law firm RPC September 20, 2015 HMRC takes over a year to wrap up almost a quarter of the 115,000 local tax compliance investigations open at any one time, a City law firm has said. Lawyers RPC today released figures showing that HMRC’s local compliance unit had more than 115,000 investigations ongoing against individual taxpayers and businesses as of March [...]
Labour councillor pushes to end zero hours work for 96,000 in the capital September 20, 2015 Labour's London Assembly economy spokeswoman will today call for changes to zero-hour contracts in London to guarantee workers 80 per cent of the hours they have worked over the previous three months. Fiona Twycross said in a statement she recognised that zero-hours contracts are popular with students and parents who need flexibility, but added, [...]
Insurers look to technology to boost profits by profiling clients September 20, 2015 New technology, which monitors how fast you drive and where you go, as well as your Facebook profile is the future for setting insurance premiums. A survey by Interim Partners, found that, in addition to tracking technology installed in potential customers’ cars, insurance executives said social media profiling, combined with geographic, political and economic data, [...]
Small firms are owed billions in late payments and the figure is climbing September 20, 2015 The problem of late payments that is straining the finances of many of the UK’s smaller firms is getting worse, according to new figures. British small and medium-sized enterprises (SMEs) are owed £67.4bn in unpaid invoices, up eight per cent from this time last year, the Asset Based Finance Association (ABFA) said today. However, ABFA [...]
Chancellor George Osborne is optimistic about the slowing Chinese economy September 20, 2015 Chancellor George Osborne has said he isn't worried about China's slowing economy, which is undergoing a period of very challenging but necessary transformation. Renewed fears over the health of the world's second biggest economy rippled through global financial markets this summer. "Black Monday" wiped nearly $300bn (£193bn) off the value of Chinese shares, while US, Europe, Japan [...]
Volkswagen told to recall almost 500,000 vehicles over emissions September 18, 2015 Volkswagen has been ordered to recall nearly half a million cars in the US by the Obama administration, which claims the German car group used software that was purposely designed to dodge environmental standards for reducing smog. The US government's Environmental Protection Agency issued the company a notice of violation this afternoon, accusing Volkswagen of [...]
Legal & General staff vote to strike over 1,700 potential job cuts at Kingswood, Surrey headquarters September 18, 2015 Legal & General staff have voted for strike action over the threat of 1,700 job cuts at the group's headquarters in Kingswood, Surrey. In total 68 per cent of L&G's Unite members at the hub took part in the vote, with 63 per cent voting in support of taking industrial action. However action may be [...]
Why the Rugby World Cup’s economic impact is nothing to get excited about September 18, 2015 The economic benefits of international sporting tournaments to national economies have been loudly trumpeted, not least by sporting bodies themselves. Whilst UK investors might witness some short-term movement in the markets following the Rugby World Cup, history suggests that the true lasting value on the UK economy is likely to be limited. Yes, the [...]
Switzerland, UK and the Netherlands among the world’s 10 most innovative countries September 18, 2015 Switzerland has been named the most innovative country in the world is for the second year in a row. It was followed by the United Kingdom (UK), Sweden, the Netherlands, and the United States of America (USA) as the world’s five most-innovative places on the planet, according to an index published by a United Nations [...]