NAO: Universal Credit is not value for money December 10, 2013 THE NATIONAL Audit Office has criticised the Department for Work and Pensions, saying that its Universal Credit programme does not provide value for money. The flagship scheme, championed by work and pensions secretary Iain Duncan Smith, has come under heavy scrutiny over the past few days after it emerged that £40.1m worth of IT spend [...]
London house prices barely slowing in 2014 December 10, 2013 HOUSE prices in the capital will continue to soar next year, rising by up to seven per cent, estate agent Marsh and Parsons predicted yesterday. The agency has 18 buyers on its books for every prime London property, well up on the 13.5 a year ago and a level which will keep the market rising. [...]
New research debunks tired myths about women at work December 10, 2013 NEW RESEARCH has debunked a number of myths about the differences between men and women in the workplace. The findings, which were launched at an event in London yesterday, appears to do away with the idea that women are less ambitious than men and therefore seek less senior positions. Over 450,000 employees from across the FTSE [...]
Swiss banks sign up to tax deal with US December 10, 2013 A NUMBER of Swiss banks have announced that they will cooperate with the United States in a crackdown on tax evasion. The US has been pursuing a campaign to recoup tax dollars holed up in banks in Switzerland since 2009, when UBS paid a $780m fine and agreed to hand over the names of wealthy [...]
Canary Wharf plots new tech neighbourhood December 10, 2013 CANARY Wharf Group submitted revised plans yesterday to expand its east London estate by building more than 3,000 homes, shops and offices that will target fast-growing media and technology firms. New Wood Wharf is a 20-acre semi-derelict site that was previously used for shipping and storage of timber and is about a third of the [...]
CGT exemption rules clarified by Treasury December 10, 2013 HOMEOWNERS selling a property in which they previously lived will be given until April 2015 to complete the sale before they must pay capital gains tax on the property, the Treasury confirmed yesterday. The news comes after George Osborne announced in the Autumn Statement last week that the tax-free period for people letting their former [...]
Bank goes on hire spree December 10, 2013 TESCO Bank yesterday revealed it is hiring 300 staff in preparation for the launch of its current account next year. The retailer hopes to take on the bigger lenders with its nationwide brand, large branch network and convenience. However, it has yet to detail how the accounts will work as well as their pricing. The [...]
Tesco hit by broker claims that prices rising faster than rivals December 10, 2013 TESCO’S share price faltered yesterday after the group suffered another downgrade from a major broker amid concerns that it has lost its differentiation with its rivals. In a damning note published yesterday, Bernstein analysts said that Tesco has raised prices faster than any of its supermarket competitors since 2010, losing its value credentials along the [...]
Oxford Instruments agrees to £176m Andor Technology deal December 10, 2013 OXFORD Instruments yesterday agreed to buy Andor Technology for £176m after its raised bid was accepted by the board of the scientific digital camera-maker. Oxford Instruments, which designs and manufactures tools for industry and research, had offered 500p per share in cash for Andor Technology last month, but the approach failed to impress Andor’s board. [...]
VW brand sales up 3.4 per cent December 10, 2013 GERMANY’S Volkswagen increased sales at its core passenger-car brand by 3.4 per cent in November to 522,100 autos, powered by demand for the seventh-generation Golf hatchback, the company’s said yesterday. Eleven-month deliveries rose by the same margin to 5.40m vehicles, Wolfsburg-based VW said in a statement, noting that the pending introduction of the new Golf [...]
