Theresa May will freeze fuel duty as Conservatives look to limit cost of living increases on working families October 3, 2018 Fuel duty will be frozen for the ninth year in a row, Prime Minister Theresa May will say in her speech to Conservative party conference in Birmingham today, in a populist pitch to working families. May's speech, in which she'll hope to steal back the lime-light from former foreign secretary Boris Johnson, will also set [...]
Airbnb reveals its UK tax bill amid Tory calls for a digital services tax October 2, 2018 Airbnb paid just shy of £600,000 in UK tax last year, City A.M. can reveal, as chancellor Philip Hammond raises calls for a unilateral digital services tax on tech firms. In financial accounts seen by City A.M. and due to be published on Companies House later this week, Airbnb paid just £596,992 in corporate tax in the year [...]
Theresa May’s vision-free approach is alienating us all October 2, 2018 An opening day Conservative conference speech by former CBI Director-General Digby Jones might not have been expected to diagnose the Prime Minister’s key weakness. But defending Theresa May’s Brexit approach, the former Labour minister unwittingly exposed the reason that the Prime Minister has alienated much of her party: she is a vision-free zone. Riffing off [...]
Philip Hammond says Tories are the ‘party of business’ as he takes the fight to Jeremy Corbyn October 1, 2018 Philip Hammond tried to paint the Conservatives as the "party of business" today as he launched a sustained attack on the Labour Party's plans for the economy. Speaking at the Tory conference in Birmingham, the chancellor urged his party to put on a united front to defeat Jeremy Corbyn – arguing Labour's plans would threaten [...]
Losses take a bite out of Deliveroo buzz but revenue soars amid global expansion October 1, 2018 Deliveroo’s pre-tax losses widened despite another year of booming sales in 2017, in a sign of the firm’s ambitions to bear the brunt of short-term losses for a greater slice of the UK’s increasingly competitive food delivery market. Losses before tax hit £184.7m in the 12 months of 2017, slumping from £129m the year before, with [...]
May’s stamp duty tax on foreign buyers forces down FTSE developers’ share prices October 1, 2018 More than half a billion pounds was wiped off the value of some of the UK’s largest housebuilders today, as the City digested news of Theresa May’s planned property tax on foreign buyers. Shares in Berkeley Group, Barratt Developments and Taylor Wimpey all slid in the wake of the Prime Minister’s weekend announcement to slap [...]
Bumper summer and Booker buyout set to boost Tesco profits September 30, 2018 Tesco will be hoping to post strong first-half profits on Wednesday, as a blistering summer heatwave, successful World Cup run and a royal wedding are all likely to have boosted the firm’s performance. Consensus estimates compiled by S&P Global Market Intelligence show that earnings before tax (excluding exceptions) could hit £795m in the first six [...]
Raising stamp duty for foreigners won’t fix Britain’s housing crisis September 30, 2018 It can't be easy, being Theresa May. The Prime Minister faces constant battles on several fronts – grappling with negotiators in Brussels, rebutting opposition parties in Westminster, and fending off leadership plotters within her own ranks. Little surprise the domestic policy agenda can sometimes seem like an afterthought. Ahead of this week's Tory party conference [...]
Editor’s Notes: The Tories face a huge challenge, but they must take the fight to Corbyn September 28, 2018 Having observed the Labour party conference from a safe distance I’ll be travelling to Birmingham on Sunday to soak up the atmosphere at the annual Tory gathering. My first port of call will be speaking at a dinner hosted by City comms firm Cicero, where I shall sing for my supper and offer a [...]
Big brains, fake news and bad deals: Five things Trump said last night to spark worldwide outrage September 27, 2018 Bloomberg has called it “the end of presidential press conferences”. In a bizarre and colourful 83-minute news conference last night, Donald Trump, as is his wont, gave reporters much to chew on. Sexual assault allegations against his Supreme Court nomination and an escalating trade war with China were among the issues the President confronted. [...]