Labour’s private jet ban plan makes ‘little sense,’ says industry November 4, 2019 The private aviation industry has criticised a Labour-backed proposal to impose a fully-fledged ban on private jets in the UK as soon as 2025 as making “little sense”. In a move which would remove London as Europe’s most active player in the industry should it come to fruition, shadow transport secretary Andy McDonald yesterday backed [...]
Thomas Cook collapse: MPs slam government inaction and lack of audit reform November 4, 2019 Business secretary Andrea Leadsom has come under fire from MPs for “the extraordinary lack of interest” she showed in Thomas Cook in the run-up to its collapse, amid growing calls for wide-ranging regulatory reform. In a scathing conclusion to the business select committee’s (BEIS) review into the travel giant’s liquidation, MPs expressed their frustration that [...]
Revealed: The towns that pay the most income tax are nearly all in the South East November 4, 2019 Commuter towns in an area just outside of London known as the Stockbroker Belt are paying the highest levels of income tax in the country, according to research. Nine out of the top 10 towns for average income tax are located in the region, a report by accountant UHY Hacker Young has found. Read more: [...]
Big Four firm KPMG denies reports of partner cuts amid cost-cutting drive November 3, 2019 KPMG has denied reports that it is gearing up to cut 10 per cent of its UK partners, as the Big Four accountant presses on with a significant cost overhaul. The company is said to be preparing to let about 65 partners go by Christmas, after a review of individual performance, according to the Financial [...]
Mothercare ‘finalising plans’ to put UK business into administration November 3, 2019 Mothercare is said to be finalising a restructuring plan that could involve putting its British operations into administration this week, in what would be the latest blow to the UK’s struggling retail sector. The company, which now leans heavily on its franchising business abroad, has readied administrators to take over the unit in the coming [...]
Labour mulls climate change finance crackdown as election looms November 3, 2019 The Labour party is considering measures to crack down on firms which invest in fossil fuels which include making the Bank of England (BoE) change its policy operations to avoid carbon bias. In an announcement which has raised concerns about “skewing” the BoE’s focus, Labour said it was also considering forcing banks to publish the [...]
US may pull automotive tariffs after ‘good conversations’ with manufacturers November 3, 2019 The United States may decide not to slap trade tariffs on car imports later this month, after “good conversations” with manufacturers in the EU, Japan and Korea, US commerce secretary Wilbur Ross said. Officials must decide whether to impose tariffs of as much as 25 per cent on vehicles and parts by 14 November. They [...]
Kier Group lenders ‘trying to offload outsourcer’s debt’ November 3, 2019 The lenders of construction outsourcer Kier Group are said to be trying to offload its debt to hedge funds, in a sign they think the risk of another corporate collapse in the embattled sector is increasing. HSBC and other lenders to the troubled FTSE 250 company are reportedly marketing the debt for as little as [...]
‘Dirty business’: Rail firms will still be dumping raw sewage on the line next year November 3, 2019 Rail operators have been forced to backtrack on a promise to stop the “dirty business” of dumping excrement on tracks by the end of the year. Network Rail and a number of train companies have admitted the 2017 promise – to stop using carriages whose toilets flush sewage directly onto the track by the end [...]
HS2 review still unfinished, with no final decision expected until after election November 3, 2019 A decision on whether to proceed with the controversial HS2 rail project appears to have been pushed back until after the upcoming General Election, amid uncertainty over how it will feature in party manifestos. Lord Tony Berkeley, the deputy chairman of the official review into the high-speed rail scheme, said the report remains unfinished, with [...]
