Someone spent thousands on this one-off Jony Ive designed Apple iPad Pro May 9, 2016 An iPad specially created by Apple's design guru Jony Ive and the only one of its kind in the world has been snapped up at auction for thousands of pounds. The one-off yellow iPad Pro, along with a blue suede smart cover and orange leather Apple Pencil case, was bagged by an unknown buyer at the auction for a hefty [...]
New FCA boss: Time to end banker-bashing May 9, 2016 Banker-bashing: it's one of the UK's favourite hobbies. But now the soon-to-be boss of the Financial Conduct Authority (FCA), Andrew Bailey, has said it's time to start using the carrot, rather than the stick. In a speech today, Bailey – who is expected to take up his new post shortly – said although changes have taken place in the [...]
Russia and the UK have lowest effective corporate tax rate May 9, 2016 Both Russia and the UK are two of the major global economies which try to tempt businesses with a favourable tax environment. They offer companies the lowest effective tax rates among the world's best economies, according to a study by accountancy firm UHY Hacker Young. Firms in Russia are obliged to pay business tax at 20 per cent, Bloomberg reported. Meanwhile, companies in [...]
Here’s what 300 top economists told the UK about tax havens May 9, 2016 So-called rock star economist Thomas Piketty and Nobel prize-winner Angus Deaton are among 300 top economists from around the world calling for an end to tax havens, ahead of a meeting of world leaders this week. Economists from several of the world's elite universities, including Oxford, the London School of Economics, Harvard and the Sorbonne are among [...]
Here’s how the UK’s business leaders really feel about Brexit May 9, 2016 From makers of scotch whisky to the nation's bank bosses, by now there aren't many groups who haven't let their views on the UK's membership of the European Union be known. But now the leaders of 1,224 businesses have added their voices to the chorus – after the Institute of Directors asked its members how they [...]
Dip in house price growth “caused by weak consumer confidence”, says Halifax – but others think it could be the Brexit effect May 9, 2016 UK house price growth actually dipped last month, with economists blaming weakening consumer sentiment for a slowing in annual increases. According to the Halifax House Price Index, average house prices fell 0.8 per cent in April to £212.321. This meant the annual change had slowed from 10.1 per cent recorded in the year to March to 9.2 per cent. [...]
China takes stake in Apple chip supplier Imagination Technologies May 9, 2016 A Chinese technology fund has taken a three per cent stake in UK chip maker Imagination Technologies, sending shares rocketing more than 13 per cent. Tsinghua Unigroup, a state-backed tech holding firm which is part of Tsinghua university, has ambitions to become the biggest chip maker in the world and has taken a three per cent stake in [...]
This Ivy League economist was pulled off a flight and interrogated because he was working on an equation that looked like “terrorist code” May 9, 2016 An award-winning economist, who has had stints working at Princeton and Stanford's Hoover Institution, was pulled off a plane and interrogated after his scribbled notes were confused as being a terrorist "code". Guido Menzio, a tenured associate professor at the University of Pennsylvania, who has been awarded the prestigious Carlo Alberto Medal for young economists, was interrogated after [...]
Trying to sell your house? House-sellers are being forced to drop their prices – and the amount they’re cutting is rising May 9, 2016 People trying to sell their homes are increasingly having to mark down their original asking price – and the amount they are dropping it by is going up. Last month we heard that sellers in some London boroughs were having to drop prices by as much as 29 per cent, but new research suggests the issue is even more [...]
G4S shares jump as it heralds “positive” start to the year despite economic uncertainty May 9, 2016 Shares in security company G4S jumped after it shrugged off economic uncertainties to herald a positive start to the year. In a trading update released ahead of a presentation to business leaders today, Ashley Almanza, chief executive of G4S, said revenue in continuing businesses rose to £1.5bn in the three months ended 31 March. This represents a [...]