Utilities pay the biggest chunk of company tax October 31, 2013 ENERGY and water firms saw their corporation tax bills jump in 2012, HMRC figures showed yesterday, as the utilities sector paid more into state coffers than any other. Although the sector comes in for criticism for a perceived lack of contribution to wider society, it in fact paid £9.6bn in corporation tax 2011-12. That is [...]
Report says fracking is low risk October 31, 2013 The health risks of fracking for shale oil and gas are low, as long as it is “properly run and regulated”, the government’s health agency said yesterday. Public Health England said that any health impacts were likely to be minimal from the hydraulic fracturing, or fracking technique used to exploit the reserves. Environmental campaigners are [...]
High investor interest for Twitter October 31, 2013 Twitter’s market debut is reported to be oversubscribed before the date of the public offering has even been revealed. The social network is planning to offer 70m shares at between $17 and $20 each, although Twitter could increase the amount or price before going public. Twitter is currently touring major US cities to drum up [...]
Horse meat rears its head again October 31, 2013 Horse meat has been found in so-called canned sliced beef for sale in Home Bargains, the discount high street store, and Quality Save. The Food Standards Agency said the product, Food Hall Sliced Beef in Rich Gravy, has been removed from sale in the some stores. The presence of horse DNA was detected during routine [...]
Nine banks hit with fresh Libor rigging lawsuit October 31, 2013 FANNIE Mae sued nine of the world’s largest banks yesterday, accusing them of colluding to manipulate interest rates and seeking more than $800m (£499m) in damages. In a complaint filed in the US District Court in Manhattan, the government-controlled mortgage company accused the banks of conspiring for years to suppress Libor, or the London Interbank [...]
RBS suspends traders during foreign exchange investigation October 31, 2013 ROYAL Bank of Scotland (RBS) has suspended two traders in conjunction with an investigation into the potential manipulation of foreign exchange rates. A global probe by US, UK and Swiss regulators is looking into whether banks colluded to set rates. London-based executives at three other major banks have been put on leave, according to reports. [...]
AIG’s earnings disappointing October 31, 2013 AMERICAN International Group (AIG) reported earnings nearly in line with expectations last night, but the stock fell after hours as analysts still saw room for improvement in the insurer, which almost went under during the financial crisis. The insurer’s net income rose 17 per cent to $2.17bn (£1.35bn), or $1.46 per share, from $1.86bn, or [...]
AT&T considers Vodafone buy October 31, 2013 AT&T is reported to be considering a takeover of FTSE 100-listed Vodafone early next year. Rumours surrounding a bid have been increasing in recent months since Vodafone agreed to dispose of its stake in Verizon Wireless. AT&T is believed to be formulating plans for Vodafone’s European operations should a deal go ahead, according to Bloomberg. [...]
More than 350,000 people flock to the City every day October 31, 2013 THE CITY of London’s population jumps 56 times on the average weekday, according to official statistics that lay bare the enormous scale of the daily British commute. Just 6,000 people live in the square mile but this jumps to 358,000 on a typical day, according to the Office for National Statistics (ONS). Other parts of the capital [...]
BT Sport scores strong result in battle with Sky October 31, 2013 BT DECLARED its £1bn investment in sports a huge success yesterday, as the company stemmed customer losses for the quarter and enticed the majority of new broadband customers to sign up its new service. “BT Sport has made a confident start and is already delivering for viewers,” said chief executive Gavin Patterson. The investment in [...]