Think tank warns lower levels of immigration will mean higher taxes May 24, 2016 A post-Brexit fall in migration would hit growth across the UK and result in higher taxes for UK citizens, according to a new think tank report. If net migration from the European Union were to drop – as it might should the UK vote to leave the European Union – the National Institute of Economic [...]
Entertainment One plans to ease off on acquisitions and let Peppa Pig bring home the bacon May 24, 2016 Entertainment One (EOne) is planning to ease off on acquisitions and let Peppa Pig lead its growth. The FTSE 250 company's chief executive told City A.M. 2016 is likely to be quieter in terms of M&A. His statement comes after a shareholder last week condemned the board's acquisitions strategy. EOne chief executive Darren Throop also today talked down [...]
Google’s French offices raided over tax May 24, 2016 Google's offices in France have been raided as part of a probe into its taxes by authorities in the country. Tax officials and law enforcement began searching the premises in the heart of Paris early on Tuesday morning, renewing the attention on the corporate tax of large companies which has simmered in ongoing rows this year. The [...]
Expats told they cannot appeal to Supreme Court for right to vote in EU referendum May 24, 2016 Two British expats have today been blocked from appealing to the Supreme Court over their right to vote in the upcoming EU referendum, on the grounds that there is no basis in law for them to do so. In April, the High Court decided that expats who have lived outside of the UK for more than 15 years should not be allowed [...]
China just joined a major blockchain consortium May 24, 2016 A Chinese insurer is the latest business to join the major R3 blockchain consortium and the first financial institution in the country to become a member alongside the likes of Barclays, HSBC and Goldman Sachs. Ping An, the second largest insurance firm in China, has joined the group, which was formed late last year to work on [...]
The bosses of eight challenger banks have slammed the CMA for failing to push for change on capital requirements May 24, 2016 Chief executives from eight challenger banks have slammed the Competition and Markets Authority (CMA) for failing to look at the capital requirements on small lenders. The CMA's report into the retail banking sector, published last week, called on banks to set maximum monthly charges for unauthorised overdrafts and to ease the process of switching current [...]
We spoke too soon: Now maintenance and engineering workers are striking over Night Tube May 24, 2016 Thought a deal had finally been reached to launch Night Tube? Think again: the RMT union has confirmed that there's going to be a strike over the new 24-hour service – by maintenance and engineering workers. The much-maligned service was finally given a launch date of 19 August yesterday following months of delays while drivers' unions [...]
EgyptAir MS804 crash caused by “explosion”, official claims May 24, 2016 Evidence suggests last week's EgyptAir crash – in which 66 people died – was caused by an explosion, a forensic official has claimed. Flight MS804 went missing during its journey from Paris to Cairo, shortly after entering Egyptian airspace. Debris and body parts have since been found, which an unnamed official has said points to an explosion. The [...]
Minister: The Guardian newspaper, not Rupert Murdoch, lobbied to clip BBC wings May 24, 2016 The Guardian, rather than the Rupert Murdoch press, lobbied the government to "clip the wings" of the BBC, a minister has revealed. Ed Vaizey, minister of state for culture and the digital economy, has told MPs the Guardian was not happy about BBC expansion in Australia and the US, two areas the newspaper group has [...]
EDF skirts around Hinkley Point being completed by 2025 May 24, 2016 EDF skirted around committing to the Hinkley Point C nuclear power plant in Somerset being finished by 2025. When asked whether the nuclear power plant will be completed on time, De Rivaz said this is "the date we would like to be able to confirm” but cautioned it will only be set after the final [...]