DEBATE: Should the chancellor bend the fiscal rules to increase spending in his first Budget? March 10, 2020 Should the chancellor bend the fiscal rules to increase spending in his first Budget? Will Tanner, director of Onward, says YES. It is the prerogative of a twenty-first century chancellor to set the rules of your own tenure. Gordon Brown, George Osborne, Philip Hammond and Sajid Javid (who never delivered a Budget) all established the [...]
Small Budget tweaks could give startups big improvements in access to cash March 10, 2020 Britain’s small business funding picture is mixed. The good news is that, while access to traditional bank loans has been limited since the financial crisis, founders have undoubtedly benefited from the rise of alternative finance. Over £2bn is now lent through peer-to-peer lenders and close to 400 equity crowdfunding deals take place in the UK [...]
Bad weather and coronavirus fears hurt high street sales March 10, 2020 Bad weather and coronavirus fears kept UK shoppers away from the high street last month, while streaming services and takeaway firms benefited from Brits staying at home. Consumer spending was up 2.2 per cent year-on-year last month, driven by digital subscriptions and takeaways as Brits stayed home to avoid storms and coronavirus risks. More than [...]
Qantas to cut international capacity by a quarter as it grapples with coronavirus March 9, 2020 Qantas will slash its international capacity by nearly 25 per cent for the next six months, as it grapples with a steep fall in demand due to coronavirus. Qantas’ chief executive Alan Joyce will not take his salary until the end of the financial year, which ends 30 June. The board will take a 30 [...]
Global stocks plunge amid oil crash and coronavirus outbreak March 9, 2020 Global stock markets plunged today as a crash in oil prices and the rapid spread of coronavirus caused panic to set in on trading floors around the world. The UK’s FTSE 100 slumped 7.7 per cent in its biggest one-day fall since the 2008 financial crisis. The rout wiped £125bn off the value of the [...]
Diversified Gas and Oil rides out market volatility March 9, 2020 Diversified Gas and Oil posted strong results todayto defy difficulties on the world commodity market. The Alabama-based company reported an adjusted EBITDA of $273.3m (£209.8m) for 2019. Final recommended dividend was 3.50 cents per share, an increase of 24 per cent over the same period in 2018. Total revenue almost doubled to $511.7m, up 87 [...]
NBCUniversal quietly offloads $500m Snapchat stake March 9, 2020 NBCUniversal has quietly offloaded its $500m (£381m) stake in Snapchat as the US media giant ramps up preparations for its new streaming service. Parent company Comcast acquired the shareholding in March 2017 when Snap completed its initial public offering. The investment was passed to NBCUniversal, which then quietly sold off the stake last year. NBCUniversal [...]
Coronavirus: Fifth death in UK as confirmed cases rise to 319 March 9, 2020 A fifth person has died from coronavirus in the UK as the number of confirmed cases in the UK rose to 319. The patient who was in their seventies was being treated at Epsom and St Helier University Hospitals NHS Trust. Chief executive Daniel Elkeles said: “We can confirm that sadly, a patient in their [...]
Coronavirus: Government plans to advise anyone with a minor fever to self-isolate March 9, 2020 The chief medical officer has said the government is planning to advise anyone with a minor respiratory tract infection or fever to self-isolate for seven days to delay the spread of coronavirus. In a press conference with the Prime Minister and chief scientific adviser Sir Patrick Vallance, Professor Chris Whitty said the advice will come [...]
Reforming business rates – is Land Value Tax really a viable alternative? March 9, 2020 | City Talk The Business Rates system has long been considered by businesses as outdated and in need of reform. It imposes its tax burden whether the business is “in the red or the black”, i.e. profitable or not. Also, whilst purported to be a tax on business collected by means of property, it has a distinct bias [...]