Botox maker Allergan’s results come in below expectations August 8, 2016 Pharmaceutical giant Allergan’s share price tumbled more than two per cent in the US on Monday as its results came in below expectations. The figures Ireland-based Allergan reported total net revenues of $3.7bn (£2.8bn) in the second quarter of this year – up two per cent from the previous three months. But Wall Street had expected [...]
Smallest businesses face £22m of fines over auto-enrolment pensions confusion August 8, 2016 UK micro-businesses are collectively facing fines of up to £22m due to a lack of understanding around auto-enrolment pensions, a new report has warned. The Pensions Regulator estimates that around 262,000 micro-businesses, defined as firms employing between one and four people, are set to “stage” – or be required to set up a workplace pension [...]
Government won’t shale out on fracking payments for a while August 8, 2016 Government won't have to fork out cash to those living near a shale gas exploration site for some time to come, a consultation document into the matter has revealed. The Shale Wealth Fund consultation, which was launched today by the Treasury, revealed, because the Fund would be financed using tax revenues from sites developed for gas production, [...]
Panic at the disco? Nightclubs are struggling to compete with bars and pubs August 8, 2016 The party could be winding down in the UK's nightclub scene, as revenues in the top 100 nightclubs have fallen nine per cent in the last year. A lack of access to funding and increased competition has left clubs struggling to compete with late-night bars and pubs, according to commercial lender Ortus Secured Finance. Turnover [...]
Barclays to fork out another $100m in the US over Libor-rigging scandal August 8, 2016 Banking giant Barclays is pay out a further $100m (£76.7m) for its role in the Libor-rigging scandal. The settlement covers 44 US states for Barclays Bank PLC and Barclays Capital Inc, it was revealed in a statement from the New York Attorney General's office. Other states included in the settlement include California, Florida and Washington. "There has to [...]
Oca-done deal: Morrisons expected to unveil new home delivery tie-up this week August 8, 2016 Supermarket chain Morrisons is expected to announce a refreshed tie-up with online grocer Ocado this week. The deal will enable Wm Morrison to compete more aggressively in the home delivery space by giving it nationwide coverage. Read more: Morrisons sales nudge up as Potts marks first year at helm The company is likely to announce the [...]
India risks squandering its hard-won gains if it abandons monetary policy discipline August 8, 2016 Speculation is building over who will replace Raghuram Rajan, the much-admired governor of India’s central bank, amid growing expectations that an announcement will be made soon. Rajan, one of India’s key reform figures, is stepping down in September. His three-year term wasn’t extended despite his important role in helping restore investors’ faith in the way [...]
Hope for Brazil: Away from the Olympics, it’s politically troubled with a crumbling economy, but can Brazil turn a corner? August 8, 2016 The Rio Olympics have got off to a great start, but this year’s host country has largely been in the news for all the wrong reasons. The spreading of the Zika virus is a worrying development for Brazilian authorities, who are firefighting on several fronts, including corruption probes and a troubled economy It wasn’t like this when [...]
Donald Trump announces plans for tax change and axe to regulation during economic renewal speech August 8, 2016 Republican presidential candidate Donald Trump has announced an official change in his top rate tax proposal, lifting it in line with the House Republicans proposals. The billionaire said he would change the top rate tax proposal to 33 per cent from 25 per cent during a speech in Detroit about “economic renewal”. Promising a tax overhaul, [...]
Samsung’s Galaxy Note 7 could be its best chance to pip Apple to the post August 8, 2016 Samsung versus Apple is one of the fiercest mobile tech rivalries ever and, with the right timing and its latest “phablet” device, the South Korean giant may have found the right formula to steal customers from the iPhone maker. Last week, Samsung released the Galaxy Note 7, a 5.7 inch “phablet” that comes with an [...]