Businesses in London face £7.5bn tax increase May 12, 2016 Industry groups have warned of a London exodus if business rates are not cut, as new research predicts that firms in the capital will face a £7.5bn tax hike after next April’s revaluation. Property consultancy Gerald Eve, who compiled the eye-watering estimates, predicts that businesses solely within the Square Mile will have to pay more than [...]
Volkswagen is preparing to launch its comeback plan in the US hoping to recover from the diesel emissions scandal May 12, 2016 Volkswagen is hoping to close the door on the diesel emissions scandal next month, as it prepares to mount a comeback in the US. A number of VW owners and the US Department of Justice sued the motor company after it admitted in September to cheating on emissions tests for 11m vehicles globally. The scandal hammered the company's share [...]
Former polymer banknote manufacturer manager sentenced over corruption-based charges May 12, 2016 Peter Chapman, 54, a former manager of polymer banknote manufacturer Innovia Securency PTY, was sentenced for two and a half years at a court in London today for corruption-related offences. Chapman was convicted yesterday on four counts of making corrupt payments to a foreign official, although he was acquitted on an additional two counts he had [...]
Property Entrepreneurs: How flatsharing website Weroom spread through social media May 12, 2016 Flat sharing is great – so long as you get on with your fellow flatmates, and don’t fall out over the washing up, or who has paid the bills. But those softer issues can be hard to think about, when you’re on the hunt for a place to stay. And it was this set of [...]
Why paying for London property in US dollars could save you a fortune May 12, 2016 Every week, City A.M. invites an industry professional to write about an emerging trend in the property market. Wise investors spend their time looking for smart places to put their money. The current weakness of the pound against the US dollar has presented an opportunity in the London property sector for smart money from outside [...]
Focus On Shepherd’s Bush: Westfield expansion and old BBC Television Centre homes put W12 in limelight May 12, 2016 For years now, the east has been the land of regeneration. The long lead up to the Olympic Games in Stratford and the success of the City fringes have seen most of property agents’ “up-and-coming” rhetoric focused in that direction and one could be mistaken for thinking there was simply nowhere else for traditionally prosperous west [...]
Google’s just overtaken Apple as the world’s most valuable company (again) May 12, 2016 Google parent company Alphabet has surpassed Apple to become the biggest publicly traded company in the world in terms of market capitalisation after Apple shares fell below $90 for the first time since 2014. The under pressure iPhone maker and the search giant have been vying to be crowned the most valuable company in the world [...]
Newcastle relegation Mike Ashley’s annus horribilis: Here’s what’s gone wrong for the divisive Sports Direct founder May 12, 2016 Mike Ashley's year has gone from bad to worse after Newcastle United were dumped out of the Premier League for the second time in his ownership on Wednesday night. Yet Newcastle's ejection from the riches of England's top tier into the same division as Burton Albion is only the latest in a series of damaging [...]