Ed Miliband’s non-dom policy “ignores all evidence” and could backfire, says Adam Smith Institute April 9, 2015 Ed Miliband's reform to the non-dom system ignores all the evidence, risks costing the country money and could make the UK less attractive to entrepreneurs. That's the verdict of a new briefing paper from the Adam Smith Institute that aims to separate fact from fiction when it comes to the political rhetoric surrounding non-doms. In [...]
Living standards are finally rising – but only in the North April 9, 2015 Is the North-South divide about to flip on its head? A new report suggests living standards are finally beginning to rise – but only up North. According to the research, by think tank the Resolution Foundation, although typical weekly incomes rose after the financial crisis, after 2009-10 they began to fall again, hitting a low [...]
Mulberry ups profit forecast with retail sales on track and cost controls April 9, 2015 The figures A more successful second half of the year for Mulberry will help it bring in profit for the full-year ahead of expectations, citing careful cost controls as a factor. Retail revenue for the year is expected to come in one per cent higher on the previous year and overall revenue will be in [...]
Co-operative Group returns to profit amid turnaround plan April 9, 2015 The Co-operative Group has returned to profit – a reversal of fortunes on the previous year's losses of £255m. The figures Full-year profit before member payments – the equivalent of pre-tax profits for a PLC – came in at £124m in 2014. Revenues slipped slightly, down three per cent at £9.4bn for the year to [...]
Helge Lund: The £28m BG Group man who missed his big day out in London April 8, 2015 Oil giant Shell and its takeover target BG Group sent their top executives into the City yesterday to face questions over the proposed £47bn deal, a transaction that would create the largest company on the FTSE. However, one man was notable by his absence – BG’s chief executive Helge Lund, who was deemed so valuable [...]
Best month of car sales this century April 8, 2015 Nearly half a million new cars rolled on to Britain’s roads in March, the best month for new car registrations since 1999. Consumers and firms registered 492,774 new cars in March, up six per cent on the same month last year, according to figures released yesterday by the Society of Motor Manufacturers and Traders (SMMT). [...]
Moody’s warns Brexit is a bigger threat to UK credit rating than 2015 General Election April 8, 2015 The prospect of Britain leaving the European Union could cause more damage to the country’s credit rating than uncertainty over the outcome of May’s General Election, Moody’s warned yesterday. The ratings agency said a potential period of uncertainty if neither the Conservatives nor Labour wins an overall majority on 7 May was unlikely to affect [...]
Generic drugmaker Mylan in $29bn approach for rival Perrigo April 8, 2015 A spate of mega-mergers continued apace yesterday as generic drugmaker Mylan announced that it had offered to buy Perrigo for about $29bn (£19.43bn) in cash and stock. The move would significantly beef up Mylan’s offerings of over-the-counter consumer products. Mylan said it proposed to acquire the Ireland-based company for $205 per share, representing [...]
BG Group boss Andrew Gould eager to quash rival bid speculation April 8, 2015 BG Group chairman Andrew Gould yesterday refused to comment on rival bids that the firm might be considering, after speculation that Exxon could be preparing to make an approach. Gould said the BG board had assessed the Shell offer “very largely on the basis of what we felt was the ultimate potential of BG’s value”, [...]
Mercedes races ahead in March as it ramps up record sales April 8, 2015 Mercedes Benz set a new record in March after seeing sales leap 15 per cent during the month. The German car manufacturer, which is a subsidiary of Daimler, sold 183,467 new vehicles in March. The strong sales rounded off what was also the firm’s best ever first quarter, selling 429,602 cars. The highest rate of [...]