UK’s top firms paid higher tax rate last year February 17, 2014 THE BIGGEST listed firms in the UK paid a higher tax rate on their profits last year, reversing several years of decline, according to new research. In the past year, the average effective tax rate on FTSE 100 firms rose to 27.6 per cent of profit after four years of decline, according to accounting and [...]
How energy bills are threatening export hopes of UK businesses February 17, 2014 BRITAIN risks missing the government’s export targets because high energy bills make it hard to compete overseas, manufacturing group EEF warned today. George Osborne wants UK firms’ exports to hit £1 trillion per year in 2020, a target requiring growth of nine per cent each year. But by that stage the government expects taxes to [...]
Power firms agree to automatic refunds for customers in credit February 17, 2014 MAJOR energy companies have agreed to give automatic refunds to direct debit customers whose accounts are in credit, after pressure from the government to return the outstanding money. EDF and FTSE 100-quoted Centrica, which owns British Gas, have both confirmed that they will automatically issue refunds for customers in credit. SSE said it would automatically [...]
Obituary: William Duff February 17, 2014 WILLIAM Duff, the British banker who helped transform Dubai into a financial powerhouse, serving as an adviser to its ruling Sheikh, has died aged 92. Duff came to Dubai after a stint as a banker in Kuwait and became financial adviser to the late Sheikh Rashid bin Saeed al-Maktoum in 1960 when the emirate’s population [...]
London housing market heats up after winter chill February 17, 2014 NEW FIGURES suggest that the London property market started to heat up again in February, building up strength after the usual seasonal slowdown. Prices rose 5.2 per cent between January and February alone, according to Rightmove, reversing small price reductions at the end of last year. An average house coming to market in London is [...]
Record number of applications for tech patents February 17, 2014 THE number of patent applications for computer products and software has soared by more than a fifth in the last year as tech startups join the big names in developing products. International patent applications for computer products rose 21 per cent to a record high of 17,324 in 2013 from 14,265 in 2012, according to [...]
Bottom Line: Boohoo floats on rising tide as M&S sinks February 17, 2014 BOOHOO.COM’s founders look set to be crying tears of joy this March when the retailer, which specialises in catering to fashionistas, floats on the London stock exchange. For one of its most established competitors, however, it’s another reason to reach for the Kleenex and start sobbing. Marks & Spencer’s clothes division is a once-great national [...]
$50m Valentine’s weekend for Lego movie February 17, 2014 THE Lego Movie, based on the iconic figures from Danish toymaker The Lego Group, had a bumper Valentine’s with Warner Bros reporting US box office takings of $13.03m (£7.8m) on Friday. BoxOffice.com estimates that the movie will take $51m over the weekend, pushing it ahead of both the RoboCop remake ($20.5m) and About Last Night [...]
Consultants are called in to help at more firms February 17, 2014 MORE FIRMS are hiring management consultants to help them troubleshoot and hone their businesses, boosting revenues for the consultancies themselves by 4.8 per cent last year. Management consultants made revenues of £5.6bn in 2013 and the industry is expected to grow at an even faster pace this year, according to figures from Source Information Services, [...]
Tesco Bank up to 7m accounts February 17, 2014 THE CHALLENGER bank run by grocer Tesco has opened 7m accounts for customers, across its whole range of products including insurance, savings and credit cards, it revealed today. The landmark figure covers just over 5m customers, as some have more than one product with the retailer-based bank. The figures put it ahead of other large [...]
