Profits plunge at Thames Water after extreme weather puts the pressure on pipes December 6, 2018 Thames Water’s half-year profits plunged by nearly 50 per cent today, as a combination of extreme weather and regulatory fines threw light on the mounting pressures that loom over one of Britain’s largest utility companies. The under-fire firm posted pre-tax profits of £67.7m in the six months to September, falling from £129m in the same [...]
Clipper Logistics delivers double-digit growth on back of new contracts December 6, 2018 Clipper Logistics struck an upbeat tone this morning after posting double-digit growth in the six months to October, having secured a number of major contracts amid the continued rise in demand for click-and-collect services. The figures In the six months to the end of October group revenue reached £227.9m, climbing 14.1 per cent when compared with [...]
Philip Hammond confirms he will borrow more and look at tax changes in ‘no deal’ December 5, 2018 Philip Hammond has confirmed the government would be forced to borrow billions more and consider tax changes to counter the economic impact of no deal. Appearing before the Treasury Select Committee on Wednesday, the Chancellor said the onus would be on the government to keep blood in the veins of the economy as the Bank of [...]
Big Four firm KPMG comes through bruising year with strong set of results December 5, 2018 Big Four audit firm KPMG has pushed past the fallout from the collapse of outsourcer Carillion to deliver strong revenue and profit growth. The UK arm of the firm boosted revenue eight per cent to £2.338bn and underlying profit 18 per cent to £356m in the year to 30 September. The strong growth comes despite [...]
French Prime Minister to halt fuel tax rise amid violent protests December 4, 2018 France’s embroiled government is set to back down today over a planned fuel tax rise which has prompted widespread protests and violent demonstrations across the country. According to local media Prime Minister Edouard Phillipe is set to pull the plug on proposed diesel tax hikes in an attempt to de-escalate current tensions between President Emmanuel [...]
House of Lords slams HMRC over ‘unfair’ tax avoidance crackdown December 4, 2018 Powers given to HMRC to crack down on tax avoidance risk undermining the rule of law and access to justice, a House of Lords report has concluded. The House of Lords Economic Affairs Committee has called for a review of the UK tax authority’s powers, which have gradually grown over recent years. Lord Forsyth, the [...]
The City is the goose that lays the golden eggs December 3, 2018 The Financial Conduct Authority has taken its boldest step yet into the debate about banks' Brexit contingency plans. In a letter to lenders the City watchdog warned that it will not accept “steps being taken which could expose clients or markets to unacceptable risks.” Specifically, the FCA warns that they will intervene if they suspect [...]
Pubs reap rewards of World Cup summer as third quarter beer sales grow, but Brexit uncertainty looms December 3, 2018 The haze of a long, hot World Cup summer drove British drinkers to buy more beer in the third quarter than the year before for the first time in more than 15 years. UK pubs saw beer sales grow 0.9 per cent year on year from August to October, with around 941.5m pints changing hands over [...]
British tax burden at 50-year high, according to TaxPayers’ Alliance December 2, 2018 The TaxPayers’ Alliance campaign group has called for lower taxes as ‘poorest’ families struggle with current levels. The TPA, linked to the Atlas Network of free market advocates, said the UK’s tax take was at a 50-year high of 34.6 per cent of GDP. National current receipts are at a 21-year high as a proportion [...]
Paris protests: At least 158 arrested after demonstration turns violent December 1, 2018 At least 158 people have been arrested after there were violent clashes between protestors and French police in Paris on Saturday. Riot police used tear gas, water cannons and stun grenades to quell protestors who attempted to breach security cordons on the Champs Elysees boulevard. It was the third rally in as many weeks as people took to [...]