Noose tightens around global tax evasion as OECD countries sign new agreement October 29, 2014 The OECD just took a step closer to fighting tax evasion on a global scale, with 51 territories agreeing to create “information exchanges” that will help track culprits down. The first signatories to the dull-sounding "multilateral competent authority agreement" – which include the UK and Ireland – will launch their information exchanges by September 2017. [...]
Mortgage approvals fall to lowest level since July 2013 October 29, 2014 Mortgage approvals have fallen to a 16-month low, adding further weight to the argument that the housing market is slowing down. Lenders approved just 61, 267 mortgages in September, figures published by the Bank of England revealed this morning, continuing the decline from a peak at the start of this year. In total, [...]
Alibaba’s share price reaches record high, valuing it higher than Wal-Mart October 28, 2014 Shares in Alibaba soared to a record high of $100.45 today, valuing the Chinese etail giant at more than $247bn (£152bn), taking it above US rival Wal-Mart for the first time. Alibaba's share price rose 2.8 per cent during mid-morning trading today. It listed on the New York Stock Exchange last month at $68 a [...]
Balfour Beatty share price rises after Parsons Brinckerhoff deal gets shareholder thumbs up October 28, 2014 Balfour Beatty's share price rose this afternoon, following the news it had received shareholder approval to sell off its design consultancy arm Parsons Brinckerhoff. The construction company secured 93 per cent of votes cast at a general meeting today for the deal to go ahead. Shares rose more that 1.2 per cent on the back [...]
Who is the richest man in China? Alibaba founder Jack Ma tops Forbes list October 28, 2014 Alibaba founder and chief executive Jack Ma has been named the richest man in China, after his etail giant raised $21.8bn through its record-breaking IPO last month. Ma had already been named the richest man in the People's Republic by the Hurun Report, but the 50-year old former teacher has made it to the [...]
Autumn Statement 2014: Business rate reform will boost job creation, says British Retail Consortium October 28, 2014 The British Retail Consortium (BRC) has written to chancellor George Osborne ahead of this year's autumn statement urging a reform of business rates to encourage investment and job creation. Retailers have long complained about the current system, under which rates have risen disproportionately to rent and other taxes. BRC figures show market rents [...]
Standard Chartered share price plummets after profits fall 16 per cent October 28, 2014 Standard Chartered's share price has plummeted this morning, as the bank warned on full year earnings after revealing falling profits for the third quarter. Shares in the lender had dropped 10 per cent in mid-morning trading, after it revealed pre-tax profits fell more than 16 per cent to $1.5bn (£930m) in the three months [...]
Sports Direct “to be held to account” over zero-hours contracts October 28, 2014 Sports Direct is being forced to make clear its zero-hours contracts do not guarantee work as part of a wide-reaching set of legally-binding promises agreed after an employee took legal action against the retailer. The Mike Ashley-owned business, which currently employs around 20,000 staff on the controversial contracts, has agreed to re-write its job [...]
Mike Ashley to make £2m loan to Rangers FC October 27, 2014 RANGERS chief executive Graham Wallace has resigned after less than a year in the role, as the Scottish football club accepted a £2m loan from Newcastle owner Mike Ashley. In a statement issued yesterday, Rangers’ board thanked Wallace for “his contribution to the club during a difficult period”. Wallace was appointed chief executive in November [...]
Jogger Dean Farley: I only “brushed into” David Cameron October 27, 2014 At first it appeared to be a massive security breach; now it seems the man who “shoved” Prime Minister David Cameron accidentally knocked into him during a jog. Dean Farley, whose Facebook page includes pictures of him taking part in the Spartan Race challenge, posted earlier today that it was him who had knocked [...]
