Facebook’s UK tax bill is about to leap after it agreed to pay tax on British ad revenue in the UK March 4, 2016 Facebook is set to pay "millions" more in UK tax after a fundamental overhaul of its revenue structure in the UK. The company will route ad revenue from its British operations through the UK, rather than Ireland. Facebook paid £4,327 in corporation tax in the UK in 2014, results showed – but it's thought the changes will mean the [...]
Guy Hands is now chairman, chief investment officer and interim chief executive of Terra Firma as it says boss Tim Pryce will step down March 4, 2016 Guy Hands' private equity firm, Terra Firma, has announced its chief executive is planning to step down. In a statement today, Terra Firma, which has stakes in Odeon and Wyevale Garden Centres, said Tim Pryce will relinquish his role as chief executive after seven years – although he will remain as managing director of the firm and [...]
From Elton John to Warren Buffett and Michael Bloomberg: Here are eight high net-worth individuals whose children won’t inherit their fortunes March 3, 2016 Sir Elton John isn't the only wealthy parent who won't leave his fortune to his children. Sir Elton John and David Furnish have insisted that sons, Zachary and Elijah, must stand on their own two feet – so they won’t give them Elton's estimated £200m fortune. The reasons for the decisions often include avoiding creating [...]
Urban planner Sir Terry Farrell slams plans for transport hub at Old Oak Common as “London’s worst cock-up in 50 years” March 3, 2016 One of the capital's largest-ever regeneration schemes could end up being its "worst cock-up in years", one of London's best-known urban planners has warned. In an interview with the Evening Standard, Sir Terry Farrell said the £10bn Old Oak Common scheme has been the victim of in-fighting by politicians. The 100-acre site in North West London is set to become a [...]
Jobs saved at Powa as buyers swoop for PowaTag and PowaWeb businesses March 3, 2016 Jobs have been saved at UK fintech giant Powa, after its PowaTag and PowaWeb businesses were sold. The company, one of the UK's only $1bn tech "unicorns", filed for administration last month. But today administrators Deloitte said 69 jobs were saved after PowaTag was sold to a consortium led by Ben White, while the the PowaWeb business has [...]
London house prices: London renters have paid a quarter of the price of an average home to their landlords in the past five years March 3, 2016 NULL
London house prices: London renters have paid a quarter of the price of an average home to their landlords in the past five years March 3, 2016 There's no easy way to say this: if you're renting in London, you could probably have put together a 23 per cent deposit for the average home in the capital with the rent you've paid in the last five years. New research by Shelter suggests renters paid a total of £89,269 over the past five [...]
Markit PMI: Service sector meltdown as growth falls to lowest in three years on Brexit fears March 3, 2016 The UK's services sector showed the weakest growth in three years in February, new figures have shown. The purchasing managers' index for the UK's dominant sector fell to 52.7 in February, down from 55.6 in January, a report by Markit showed. Any figure above 50 denotes growth. Analysts had expected the figure to dip slightly, to 55.1 – [...]
Now Halifax says UK house prices dropped last month – but rose almost 10 per cent in the year to February March 3, 2016 It was a day of two house price indices today, and while Nationwide was insistent that house price growth was flat between January and February, figures from Halifax have shown prices fell by1.4 per cent. But Halifax's house price index, released today, also showed prices rose 9.7 per cent from last February – and were up [...]
McLaren chief executive Mike Flewitt: There is no way we will ever make an SUV March 3, 2016 As the automotive world’s great and good descended on Geneva for its annual motor show this week, one topic was being discussed: SUVs. After Porsche launched its mammoth Cayenne range in 2012, this year Maserati followed suit, with the $72,000 Levante. Even Ferrari came over all practical, with the launch of its four-seater GTC4 Lusso. [...]
