Rise in customers with multiple current accounts as fintech boom hits high street banks June 3, 2019 An increasing number of Britons now have products from a range of different financial providers, as the rise in fintech has shifted the focus away from traditional high street banks. Research by peer-to-peer lending firm Zopa revealed one in three Brits holds two or more current accounts, an increase of 36 per cent on the [...]
HMRC increasingly targeting individual executives in tax crackdown June 3, 2019 HM Revenue and Customs (HMRC) is increasingly targeting C-suite executives personally as it looks to hold businesses to account. The number of chief financial officers and other senior finance directors fined has increased 22 per cent in the year to 31 March to hit 152. In 2017-18 HMRC levied 125 fines against individuals while in 2012-13 – [...]
Only on in five businesses has insurance against terrorism June 3, 2019 Only one in five UK businesses has a terrorism insurance policy in place, according to a survey published today. Research by Comres, commissioned by terrorism reinsurer Pool Re, showed 81 per cent of businesses either do not have a policy in place or are unaware if they do or not. Read more: Law to help [...]
City Moves for 3 June – Who’s switching jobs at Cushman & Wakefield, Grant Thornton and the Howard de Walden Estate? June 3, 2019 Today's City Moves includes Cushman & Wakefield, Grant Thornton and the Howard de Walden Estate. Cushman & Wakefield Cushman & Wakefield has appointed James Sheppard to head the firm’s new Life Sciences team, based in London. A graduate in pharmacology and molecular genetics, James has developed an expertise in incubator and accelerator projects, guiding a [...]
Business groups should be happy with Javid’s infrastructure plan June 3, 2019 This newspaper applauded the Tory leadership contest's emerging battle of ideas last week, a trend that happily continued over the weekend with candidates launching a range of new policy proposals. Former City banker Sajid Javid grabbed headlines by revealing that he could scrap the top rate of income tax, and this morning bulks up his [...]
Amazon hits back at Hammond’s digital tax with high street venture June 2, 2019 Amazon is launching a programme to help digital businesses find success on the high street, with a series of pop-up stores across the UK. The move follows comments from chancellor Philip Hammond that the tech giant and other online behemoths hold a “near-monopoly” over physical stores, contributing to retail's economic downturn. The e-commerce giant will open [...]
Sajid Javid unveils £100bn plan to reboot economy June 2, 2019 Home secretary Sajid Javid has unveiled plans to borrow £100bn to reboot the economy as he became the latest Tory leadership hopeful to set out his stall in the contest to replace Theresa May. Javid’s national investment fund sits alongside proposals to slash the top 45p rate of income tax for top earners. The national [...]
RBS GRG scandal: The baggage that could drag down Andrew Bailey’s quest to lead the Bank of England June 2, 2019 This summer, the Bank of England is expected to announce a successor to Mark Carney as governor. Among the runners in the contested race is Andrew Bailey, the financial watchdog chief who stands a solid chance of taking Carney's crown. While the boss of the Financial Conduct Authority (FCA) certainly has the credentials for the [...]
Boeing planes may have ‘improperly manufactured’ parts, US authorities reveal June 2, 2019 Boeing's grounded 737 Max plane may have flaws in its construction, US regulators said this evening. The Federal Aviation Administration said that the plane maker had discovered potential problems with the leading edge slat tracks on the plane and the 737 Next Generation. The leading edge slats are flaps on the front of a wing which allow [...]
Sir Philip Green makes bid to slash retail empire’s business rate bill June 2, 2019 Sir Philip Green is launching an audacious bid to slash the amount his retail empire pays in business rates, in a move likely to trigger fresh controversy around the embattled tycoon. Sources have warned that, if implemented, the demands made by Green’s Arcadia group not to pay some of its business rate bills until April next [...]