Changes to bank levy will cost firms £400m per year March 28, 2014 THE BANK levy will rise to £2.9bn from its previous target of £2.5bn per year, under plans in a consultation out yesterday, as the Treasury looks to fix the amount of money it raises from the industry. In 2010 the plan was to tax banks based on the size of their balance sheet, aimed at [...]
Microsoft’s new boss moves beyond Windows with Office for iPad March 28, 2014 MICROSOFT’S new chief executive Satya Nadella revealed his first big strategic play for the software giant yesterday by releasing its Office suite of apps on Apple’s rival iPad mobile platform. “A billion people rely on Office every day, and we’ve worked diligently to create a version of Word, Excel and PowerPoint that delivers the best [...]
Ukraine to get up to $27bn from international bailout March 28, 2014 UKRAINE is set to receive financial aid of between $14bn (£8.4bn) and $18bn from the International Monetary Fund (IMF), as the world body laid out the vast economic challenges facing the country. The amount announced yesterday is lower than the $15bn-$20bn the interim government of Ukraine had asked for, but higher than the flat $15bn [...]
Why both sides of the debate must up their game on Europe March 28, 2014 FACTS are often scarce in the great European debate. It is possible for fair-minded people to come down on either side of the question. But it is incumbent on everybody to be as precise as possible – and not to exaggerate too much – when debating the pros and cons of the EU. On the [...]
Miliband: We’re the party for small business March 28, 2014 ED MILIBAND is set to rebrand Labour as the party for small business, signalling an ideological shift ahead of the general election in 2015. Speaking at a Federation of Small Business conference in Manchester today, the Labour leader will position his party as the backer of those who work for themselves, adding that an economy [...]
Industry slams government’s pension fee cap March 28, 2014 THE INSURANCE industry has spoken out against the introduction of a cap on fees that pension providers can charge, warning it will squeeze providers at a time when they are being asked to stump up extra cash. Pensions minister Steve Webb announced the cap will be set at 0.75 per cent for those in auto-enrolment [...]
What the other papers say this morning – 28 March 2014 March 28, 2014 FINANCIAL TIMES Facebook works on drones and lasers Facebook is working on drones, satellites and lasers to deliver the internet to far flung corners of the world, in its second big bet on future technology in a week. Mark Zuckerberg, Facebook founder and chief executive, said yesterday that the company is working with leading experts [...]
Carney ready to clamp down on housing bubble March 28, 2014 TOUGHER lending criteria could be in place as soon as June if a housing bubble emerges, the Bank of England’s financial policy committee (FPC) said yesterday. The panel, led by Mark Carney, does not believe a bubble is inflating, but wants to reassure markets it will nip any emerging risks in the bud. From next [...]
Morrisons boss gives up £374,000 bonus March 28, 2014 DALTON Philips, the chief executive of Morrisons, has waived his £374,000 bonus after Britain’s fourth biggest grocer posted its lowest profit for five years following a dismal year. Philips has told the remuneration committee that he will not take up the cash and share bonus a spokesperson confirmed yesterday. Philips has been under pressure to [...]
Legal aid deal halts barrister strike action March 28, 2014 CRIMINAL barristers yesterday called off further strike action after the Ministry of Justice postponed changes to legal aid that would have slashed their fees. The Criminal Bar Association welcomed the decision to suspend legal aid fee changes until at least summer 2015 and said it will work with justice secretary Chris Grayling on the reforms.
