Service sector confidence falls as UK nears recession September 9, 2019 Optimism about the economy in the services sector fell sharply in August to levels not seen since 2013, according to a report from accountants BDO. BDO’s services optimism index dropped 3.89 points in August to 95.49 per cent, only just above the 95 level that indicates a recessionary mindset has taken hold. Read more: Business [...]
HMRC at risk of not delivering on prosecution targets as Brexit slows tax evasion enforcement September 9, 2019 Lawyers it is “disappointing” that HMRC is on track to miss targets for cracking down on tax evasion and avoidance. The tax authority had set itself a target of increasing the number of criminal investigations that it undertakes into serious and complex tax crime to 100 a year by the end of parliament. However, in [...]
London’s private sector growth outperforms rest of country in August September 9, 2019 Growth in London’s private sector slowed in August, but the capital outperformed the UK as a whole as new business, activity and employment all expanded. Read more: UK economy close to recession after stagnant services sector data Despite the expansion, companies’ overall confidence fell to a five-month low in August as Brexit uncertainty weighed on [...]
Retail footfall drops again in August as economy slows September 9, 2019 The number of Britons venturing out to visit shops fell again in August, bringing yet more problems for a retail sector that has suffered a number of casualties this year. Read more: Hot weather fails to heat up retail sales in August Footfall fell by 1.3 per cent in August year on year, compared to [...]
City Moves for 9 September – Who’s switching jobs at SRIL, Morningstar and Capra Global Partners? September 9, 2019 Today’s City Moves includes SRIL, Morningstar and Capra Global Partners. SRIL Warren Downey has joined SRIL, the specialist insurance intermediary group that owns Miles Smith and the Underwriting Exchange, as chief executive. Warren joins from Jardine Lloyd Thompson where he spent the past 28 years, most recently as the chief executive of its global private [...]
Pubs cash in on bank holiday heatwave but fears grow for restaurant sector September 9, 2019 A sunny spell through the August bank holiday helped London watering holes increase their late-summer sales, according to a closely-followed industry measure. Thirsty punters gravitated to drink-led pubs in the capital, which enjoyed a five per cent like-for-like boost in sales compared to the same period last year. Read more: Wetherspoons toasts no-deal Brexit by [...]
Number of taxpayers falling six months behind on bills increases September 9, 2019 The number of British taxpayers who are falling well behind on their tax bills has continued to climb, according to research. About 117,000 people are now more than six months behind, according to accountancy Moore Stephens, meaning they have received the second of two penalties of five per cent of the tax they owe. This [...]
Teesside cable factory could be wound in if without government support September 8, 2019 A planned £200m cable factory in the north east of England is facing an uncertain future after the entrepreneur backing it said he might pull out if the government does not get behind the project. Edi Truell wrote to ministers last year to tell them that he may take his project to Germany, the Sunday [...]
Downing Street to ‘test to the limit’ anti no-deal Brexit law September 8, 2019 The scene is set for a dramatic showdown in Westminster next week after the government said it would “test to the limit” the anti no-deal legislation that could become law tomorrow. Boris Johnson has insisted he will never ask Brussels for an extension to the Brexit deadline, putting him at loggerheads with peers and MPs [...]
St. James’ Place boss promises review of company’s incentives September 8, 2019 The boss of Britain’s largest wealth manager has been forced to review its controversial staff incentives scheme as details of the lavish rewards were made public. St. James’ Place (SJP) advisers could enjoy luxury cruises and white-gold cufflinks as reward for bringing in new clients willing to save in pensions and ISAs. In an internal [...]