London commuters face transport delays due to 24-hour bus strike September 12, 2016 Commuters in London are facing delays today due to a 24-hour bus strike. Workers from Tower Transit, which operates around five per cent of London bus routes, began their strike at 00:01, and the industrial action is set to continue until 23:59. The staff are members of the Unite union, and previously led industrial action [...]
Samsung shares are not on fire after flaming recall September 12, 2016 Shares in Samsung have unsurprisingly stumbled after the smartphone maker was forced to recall its recently launched flagship Galaxy Note 7 due to a fiery battery situation. The South Korean tech giant was forced to pull the device from the shelves after reports of it exploding and on Friday said it had identified 35 such incidents. Read more: Samsung Galaxy [...]
Sadiq Khan’s new one-hour Hopper bus fare comes into force today – but it won’t quite live up to his original promise September 12, 2016 One of London mayor Sadiq Khan's manifesto promises launches today, but it won't quite match the plan. Khan had pledged a new “Hopper” one hour bus ticket allowing unlimited transfers on buses inside a 60-minute window. And while the ticket launches today, it will only cover a single change between buses or trams, with the discount [...]
These are the FTSE 100 social media winners and losers September 12, 2016 FTSE 100 firms are finally getting the hang of social media and even jumping on the Snapchat bandwagon to build their profile, new research reveals. Seven firms in the blue-chip index now have official accounts on the fledgling messaging service with a further six using the platform in some form. Read more: Google, Facebook and Twitter blasted over [...]
£4bn UK music industry calls for Brexit protection September 12, 2016 Music contributed £4.1bn to the UK economy last year, a new report has found. Calling for the industry to be protected after the UK’s Brexit vote, research by UK Music also revealed that exports generated £2.2bn in revenue in 2015. The report estimated that export revenue in live music grew by an estimated 35 per [...]
Experts warn the taxman could miss out on £6.6bn of non-dom tax revenues from 2017 September 12, 2016 Experts and politicians have urged the government to reconsider proposals to reform non-dom tax status from next April. Research released today reveals that the average non-dom pays 10 times the average amount of tax paid by Britons. The worry is that a change in legislation will simply drive non-doms to register themselves abroad, reducing overall [...]
Roger Bootle of Capital Economics talks Brexit, macroeconomics and making a market for research September 12, 2016 Is there ever a tension between being one of Britain’s most influential economists, writer of multiple best-sellers and an opinionated column in the Telegraph, and a businessman, head of Europe’s largest independent macroeconomic consultancy? “There is sometimes,” says Roger Bootle, founder and executive chairman of Capital Economics. “We saw it with the Brexit debate. I was [...]
PwC grows revenues by 11 per cent and champion long-term investment in technology and people September 12, 2016 Big Four accountants PwC reported double-digit revenue growth for the second year running. And although it warned that the impact of the Brexit vote is “still being worked through” it was confident Britain was agile enough to deal with change. Revenues grew by 11 per cent to £3.4bn for the year to June 2016 – a rate [...]
HM Revenue & Customs corporate asset seizures spike by 145 per cent September 12, 2016 The taxman has cracked down on collecting outstanding tax from UK businesses. The number of businesses whose assets were seized by HM Revenue & Customs (HMRC) in 2015/16 was 1,592, up a staggering 145 per cent on the prior year of 649 seizures. The increase reflects the fact that amount of tax overdue hiked from £15m to [...]
Trade secretary Liam Fox has faced a fallout from some sloppy rhetoric. But he makes a very valid point about exporting September 12, 2016 Things haven't been going smoothly for the newly appointed secretary of state for international trade, Liam Fox. First, he became embroiled in an unseemly row with the foreign secretary about who stood where in the Whitehall pecking order. Then he got overexcited about the potential for a free-trade deal with Australia, only for our antipodean friends [...]