The UK’s high earners have seen some of the steepest tax increases over the last 20 years November 21, 2016 High earners in the UK have faced some of the world's steepest increases in income taxes over 20 years, according to new figures. Sums from accountancy firm UHY Hacker Young show the average rate paid by those earning more than $1m (£810,000) has climbed four per cent since 1996 to 43 per cent. By contrast, the [...]
The average British consumer will spend almost half their monthly salary on Christmas, and many won’t pay off debts until March November 21, 2016 By March, Christmas is the last thing on your mind. But one in five British consumers are still paying off Christmas gifts three months or more down the line. The average shopper is set to spend almost half their monthly pay on Christmas, and 6 per cent will spend in excess of a month's salary, a new study [...]
Theresa May is preparing the ground for retreat over her landmark plans to get workers on boards November 21, 2016 Downing Street looks set to pull back on landmark plans to install workers on boards, with both Theresa May and her chancellor Philip Hammond seeming to downplay the reforms. Forcing firms to hand a seat to workers was one of the first proposals put forward by May following her rise to power over the summer. [...]
Tech-tastic: May pledges billions to support tech champions as she fleshes out industrial strategy November 21, 2016 Prime Minister Theresa May will reveal details of her government’s flagship industrial strategy at a conference of business leaders today, promising billions in extra funding and potential tax breaks for a range of sectors. While insisting her plan is “not about picking winners”, she will identify several technology-related areas in the UK that the government [...]
Top industry groups hit out at proposed changes to business rates November 21, 2016 A group of industry lobby groups has hit out at Treasury proposals to prevent small firms from appealing against business rates up to a certain level. Research by Daniel Watney LLP and Blackstock Consulting, using official government data, found the changes could cost small firms in England more than £700m over the next five years. [...]
Three things banks want from Wednesday’s Autumn Statement November 20, 2016 The shops are stocking mince pies and there's a distinct chill in the air, which can mean only one thing; the Autumn Statement is near. While those in the booze sector have their fingers crossed for a beer duty freeze and property tycoons want some plans drawn up for affordable homes, what will bankers be hoping [...]
Former President Nicolas Sarkozy bows out of race for Republican party candidate spot November 20, 2016 Nicolas Sarkozy has tonight conceded defeat in the race to become the country's Republican party's Presidential candidate, as France's next general election looms. Sarkozy, who was French President between 2007 and 2012, bowed out as the final votes for the centre-right party's primary were being counted up. Former prime ministers Francois Fillon and Alain Juppe will now most likely go [...]
Telecom firm Daisy takes aim at rival Alternative Networks November 20, 2016 Daisy – one of the UK’s telecoms challenger firms – is expected to make a play for its listed rival Alternative Networks this week. The bid, which could come as soon as tomorrow morning, is thought to be pitched at about 335p a share, just under 20 per cent up from Alternative Network’s Friday closing share [...]
Credit Suisse eyes possible IPO for new bank November 20, 2016 Credit Suisse could be ready to press go on a massive stock market listing, after it moved more than 1m customers to a new bank which goes live today. The new bank – Credit Suisse (Schweiz) – will cater for the lender's Swiss retail, corporate, private and investment banking clients and was set up as part of the [...]
BHS’ bosses’ cash comes under pressure from pensions lifeboat November 20, 2016 The pensions lifeboat is pushing for legal action to claw back funds from former BHS directors. The once high street staple fell into administration back in April, and was running a deficit worth £571m for its 20,000 member-strong pension schemes at the time. The department store chain's collapse, which ultimately resulted in the closure of over [...]