Swedish interest rates: Riksbank cuts rates again in surprise move sending krona plunging February 11, 2016 One thing’s for sure: the Riksbank doesn’t do things by halves. The Swedish central bank just took its benchmark interest rate even further into negative territory than economists were expecting. The Riksbank announced this morning it would be cutting rates to minus 0.5 per cent, from the current minus 0.35 per cent. "Our repo rates [...]
Google UK tax row: If the Public Accounts Committee mistakenly equate Google’s profits to its sales when discussing corporate tax deals today, they’ll be heading down a blind alley February 11, 2016 When the Public Accounts Committee grills Google and HM Revenue & Customs (HMRC) chiefs today, we may hear repetition of the claim that the technology giant is only paying a three per cent corporation tax rate compared to the 20 per cent everyone else pays. The MPs could do themselves a favour by not going down this blind [...]
Bye-bye Bogof? Supermarket deals days’ numbered as new research finds consumers spend £1,300 a year more when they take up buy-one, get-one-free offers February 11, 2016 British shoppers spend £1,300 more a year when they take up tantalising buy-one-get-one-free (bogof) deals – and could be soon waving goodbye to the whole concept. Research by the Money Advice Service has found that supermarket offers encourage consumers to spend 21 per cent more on average than they intended – £11.14 per shop – [...]
We’ve reached peak Twitter as user growth goes negative at former social media darling February 11, 2016 Haunted by quarters of slowing growth, Twitter’s worst nightmare became a reality yesterday. It’s not growing anymore. The company’s fourth quarter report revealed monthly active users (MAUs) dropped to 305m from 307m in the previous quarter. None of this should come as a shock, although it obviously did for many investors. The stock fell as much as [...]
Thomas Cook revenues dip on terror attacks – but says full year figures remain on course as long as consumer demand remains February 11, 2016 Revenues and bookings at Thomas Cook dropped in the last three months of 2015, in the wake of the terror attacks in Paris, Istanbul and Sharm-el-Sheikh, the tour operator said today. The figures Total revenue for the three months to 31 December fell 7.8 per cent to £1.4bn. The firm's underlying operating loss improved by 11 per [...]
Italian low-carbon energy company Cogenpower to float on Aim February 11, 2016 An Italian low-carbon energy company will float on the London Stock Exchange's alternative investment market (Aim) tomorrow, as it seeks to expand into the UK. Cogenpower wants to raise £1m by listing 5,000,000 shares at 20p each, giving it an anticipated market capitalisation of £10m. Cogenpower's power plants and district heating networks deliver cheaper, cleaner heat and energy to nearby communities [...]
Google tax row won’t slow UK’s booming digital economy, says digital minister Ed Vaizey February 11, 2016 The biggest US technology companies won’t be put off setting up shop in the UK following a backlash against Google’s tax arrangements, the digital minister Ed Vaizey has insisted. “Fast growing UK companies are trading elsewhere, but we obviously benefit from inward investment,” he told City A.M., as new figures revealed the UK’s digital technology economy grew [...]
Viva la e-revolution, and what’s next for the booming UK digital economy February 11, 2016 The UK’s economy is witnessing an e-revolution. Digital innovation is now not only driving the digital economy, but is transforming the ways in which the more “traditional” industries are approaching their day to day business activities. Today at SPRINT – the annual event hosted by the Government Digital Service which showcases the digital transformation work [...]
City Moves for 11 February 2016 | Who’s switching jobs February 11, 2016 Cogeco Peer 1 Cogeco Peer 1, a global provider of business-to-business products and services, such as colocation, network connectivity, managed hosting, cloud services and managed IT services, has announced the appointment of Susan Bowen to the newly created role of vice president and general manager, Europe, Middle East and Africa. Based in the UK, Susan [...]