What to expect from Sir Philip Green’s appearance before MPs tomorrow June 14, 2016 The day is almost here… Sir Philip Green himself will (probably) make his appearance in front of MPs tomorrow to explain his part in the sale of BHS. So far there have been allegations of death threats, tantrums, and dramatic confrontations in hotel lobbies. As David Buik, market commentator for Panmure Gordan & Company, put it: "Wednesday’s testimony [...]
Referendum uncertainty has hit almost two-thirds of the UK’s medium- and large-sized enterprises June 14, 2016 Almost two-thirds of medium- and large-sized enterprises have suffered as a result of the uncertainty triggered by the EU referendum, according to a new study. In a survey of chief financial officers and key decision makers at UK firms with a turnover of £20m or more, 64 per cent of respondents said their business had [...]
From food poisoning to faulty washing machines, here are the top 10 excuses workers use to call in sick June 14, 2016 Don't pretend you haven't done it. It is a rite of passage that an employee will use at least one poor excuse in their career to get out of work, but new research has found that Britons lack creativity when pulling a sickie. With the live European Championships action on TV decimating the Square Mile's office [...]
The pound is feeling the pressure of the latest Brexit polls June 14, 2016 Sterling has continued its sharp decline this morning as another set of opinion polls showed the Leave side pulling ahead with just nine days to go until the EU referendum. The pound has lost 1.1 per cent against the US dollar so far today to stand at $1.4117 in early afternoon trading – a two-month low. It also fell against [...]
Scrapping tax havens would be unrealistic, experts tell MPs June 14, 2016 It would be unrealistic to think low corporation tax jurisdictions, or so-called tax havens, could be eradicated, the Treasury committee was told today. Responding to a question from the committee on whether tax havens are a relic, Steve Edge, a tax partner at Slaughter and May, pointed out that different jurisdictions had different "packages" on what they could offer businesses. He added [...]
Drinkers raise a glass to posh booze as premium spirits and wine sales soar worldwide June 14, 2016 Posh booze has become the order of the day for the world's drinkers, who are clearly after quality not quantity when it comes to their tipples. Worldwide, the premium-and-above spirits market grew five per cent in 2015, equivalent to 6.7m nine-litre cases on the 2014 total, according to the alcohol analysis firm IWSR's 2016 database. The most [...]
Fees soar for legal eagles, as law firms reveal they are modestly optimistic about their future June 14, 2016 Lawyers had reason to celebrate today, after a report revealed that fees at the top 100 law firms rose by 5.4 per cent in the year to April. The report by professional services firm Deloitte revealed that fee income in the last quarter of the financial year increased by an average of six per cent year-on-year. Firms are [...]
Before the bell: What you need to know before the US market open June 14, 2016 Brexit fears are dragging down markets and Germany's 10-year bond yield has turned negative. Here's what you need to know before the market open at 14:30 London time. US futures are pointing down again today, suggesting the bad start to the week is going to continue. The S&P is off by 0.22 per cent. The Nasdaq is 0.26 [...]