HMRC sets up secret unit to probe inheritance tax avoidance February 22, 2020 HM Revenue & Customs has implemented a secret unit to investigate the use of family investment companies (FIC) by the very wealthy to avoid paying inheritance tax. It puts family offices with a combined total of more than $1tn in assets within its sights. The tax authority set up the team in April last year [...]
JPMorgan Chase set to launch UK digital consumer bank this year February 22, 2020 JPMorgan Chase is close to launching a range of personal banking products in the UK. The world’s biggest lender by market capitalisation is set to introduce savings and loans products using the Chase brand in the next few months, according to Sky News. The New York-listed bank is due to hold an investor day next [...]
Waitrose ranked best UK supermarket in annual Which survey February 22, 2020 Waitrose has been ranked as the best supermarket in the UK in an annual satisfaction survey conducted by Which. The chain, which is owned by John Lewis, hit five stars on most categories, but did come joint-last in value for money. Budget supermarkets Aldi and Lidl continue to be ranked highest in terms of value. [...]
Coronavirus: Two dead in Italy while cases in South Korea more than double February 22, 2020 The number of coronavirus cases outside of China continues to grow as the virus claimed its first two lives in Italy on Saturday. In South Korea the number of confirmed cases has more than doubled in one day bringing the total to 433. World Health Organisation chief Dr Tedros Adhanom Ghebreyesus has said the spread outside [...]
Wells Fargo agrees $3bn settlement in fake accounts investigation February 22, 2020 Wells Fargo has agreed to pay $3bn (£2.3bn) to settle an investigation by the US government into its fraudulent sales practices. The US bank admitted to opening millions of fake customer accounts as well as wrongly collecting millions of dollars in fees, misusing customer information and harming the credit rating of customers. It brings to [...]
Brexit: Blue passports to return from March 2020 February 22, 2020 British passports will return to their original blue colour for the first time since 1988 from next month, when the UK government will issue the first blue passports since the Brexit vote. The first blue passports will be issued from early March and from mid-2020 all new passports issued to Brits will be blue. The [...]
Royal Mail to raise price of stamps from 23 March February 21, 2020 The Royal Mail will raise the prices of its stamp from 23 March as the former postal monopoly continues to struggle against a “challenging business environment”. A first class stamp will increase by 6p to 76p, while the price of a second class stamp will increase by 4p to 65p. The postal service said that [...]
Deutsche Bahn delays plans for Arriva flotation February 21, 2020 Deutsche Bahn is set to delay its plans to float its international transport business Arriva on the stock market. The German state-owned rail operator had planned to hold an initial public offering for Arriva in the first half of this year. However, that will no longer happen, sources told Reuters following a supervisory board meeting [...]
Interest in Milan is going beyond fashion week, as second home market booms in this chic ‘pocket metropolis’ February 21, 2020 This week, the world’s fashionable people descend on Milan as the city hosts the third of the four international fashion weeks. But the global crowd – and UK nationals in particular – are starting to show an interest in Italy’s second city that extends beyond the runway shows. Once known for being dull and industrial [...]
PMI data picks up the pound February 21, 2020 | City Talk Manufacturing output grew at its fastest pace for 10 months, giving sterling a boost against other major currencies this morning. Recovering losses against EUR & USD, the latest flash Purchasing Manufacturing Index (PMI) data today announced that UK output rose 51.9, up from 50.0 in January. The question for many investors is whether the post-election [...]