PwC rejects Margaret Hodge’s claims that it promotes “tax avoidance on an industrial scale” February 6, 2015 PwC has rejected the findings of the Public Accounts Committee, which has accused the financial services firm of promoting “tax avoidance on an industrial scale”. The committee, led by Labour MP Margaret Hodge, published a report this morning slamming PwC for “artificially diverting profits to Luxembourg through intra-company loans”. She claimed its activities “bear [...]
Pfizer, Hospira share prices to soar after $17bn deal announced February 5, 2015 Hospira's share price looks set to soar when markets open after Pfizer revealed it was buying the injectable drugs giant for $17bn (£11.1bn). The deal represents $90 a share in cash for Hospira, which closed at $64.80 a share last night. Hospira's share price was up nearly 35 per cent in pre-marketing trading, while [...]
Proxima confirms it is in takeover talks with JKX Oil & Gas as share price rockets 57 per cent February 5, 2015 Proxima Capital Group has confirmed it is in “very early” talks with exploration group JKX Oil & Gas, after shares in the Ukraine and Russia-focused firm soared today. JKX's share price jumped more than 57 per cent shortly after midday today, and has since dropped back down slightly, although was trading up around 34 [...]
Wonga escapes criminal investigation over fake legal letters February 5, 2015 Wonga has escaped criminal investigation into allegations that the payday lender sent letters to customers falsely claiming to be from lawyers. The City of London police confirmed today that it would not take the matter any further, saying there was not sufficient evidence to pursue the matter. The case was reopened by the [...]
London bus strike: More than half of all services are running February 5, 2015 Update: Transport for London is now reporting that more than half of its bus services are running as usual, despite the strike over pay. While it still noted there was “disruption” to services, and warned that passengers check before travelling, the impact appeared to be considerably less than last month, when Unite held similar [...]
European Court of Justice’s redundancy guidance paves return to “pre-Woolworths status quo” February 5, 2015 Employers are one step closer to being able to return to the “pre-Woolworths status quo” when it comes to redundancy consultation. The European Court of Justice's advocate general has this morning said that employers need not be bound by costly collective redundancy rules. It all comes down to the meaning of the word [...]
Six fire engines called to shop fire on Eversholt Street, Euston, road closed February 5, 2015 A north London road near Euston station has been shut off after the basement of a shop caught fire. Six fire engines are on the scene at Eversholt Street, which runs from Euston to Mornington Crescent. The London Fire Brigade said no one had been injured by the fire, which was in the [...]
European Courts of Justice to reveal Woolworths and Ethel Austin redundancy decision tomorrow – but what does it mean for businesses? February 4, 2015 Note: This story was written before the opinion was published. Go here to find out what the advocate general said. Tomorrow could bring about the reversal of a ruling over redundancy consultation and compensation that costs companies millions of pounds. It's a huge deal and could have major implications for businesses throughout the EU. But [...]
Boris Johnson’s Crossrail for Bikes gets green light from Transport for London February 4, 2015 Boris Johnson's ambitious Crossrail for Bikes scheme has been given the green light by Transport for London, after it was updated to reduce knock-on traffic delays. Four new cycle superhighways running throughout London have got the go-ahead and work will begin on the project within the next month. The scheme will cost £160m to [...]
Sir Mervyn King has gone phishing: LinkedIn email scam asks journalist for help with money transfer February 4, 2015 When City workers hang up our ties for a well-deserved retirement some of us might choose to go fishing. Former Bank of England chief Sir Mervyn King – now Baron of Lothbury – seems to have got his wires crossed and appears to be embarking on a new career as a phishing scammer. [...]
