London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
We must never forget John F Kennedy’s legacy as a tax cutter November 25, 2013 IT was the fiftieth anniversary of John F Kennedy’s assassination this weekend. Yet amid all the retrospectives, not enough has been said about his tax policies, which were better than those of almost any Western government in power today. He believed in cutting taxes to liberate companies and individuals and to incentivise them to work [...]
Manufacturers move factories back to the UK November 25, 2013 SMALL manufacturing firms are now more likely to bring production back to Britain than to move it overseas, as overall costs can be cheaper in the UK, a study from the Manufacturing Advisory Service (MAS) showed today. The report found 15 per cent of small- and medium-sized enterprises (SMEs) are currently bringing production back to [...]
Shell shuts down Nigeria plant November 25, 2013 Royal Dutch Shell closed its Obigbo gas plant in Nigeria on 1 November due to safety concerns, resulting in 40m standard cubic feet of gas per day being shut in, the company said yesterday. The gas processed at the plant is usually supplied to industrial consumers and power plants, Shell Nigeria said. “The company took [...]
Greek banks are well capitalised November 25, 2013 Greek banks have enough bailout funds on hand to cope with any extra capital needs from bad loans, the country’s central banker George Provopoulos told a news website this morning. The EU and the IMF have so far spent about €40bn (£33.32bn) to bail out the country’s banks as part of its €240bn rescue. BlackRock [...]
Cool Japan Fund launched today November 25, 2013 The Japanese government is launching a “Cool Japan Fund” today to boost its products abroad. The fund aims to use about $1bn (£616m) of mostly public funds to showcase products such as food and drink, fashion, animated and live-action movies. The fund’s chief executive, Nobuyuki Ota, is a former fashion executive who brought Issey Miyake [...]
What the other papers say this morning – 25 November 2013 November 25, 2013 FINANCIAL TIMES Trafigura sells Puma stake for $500m Trafigura, one of the world’s largest commodities trading houses, has raised $500m from the sale of a 10 per cent stake in Puma Energy in a deal that makes a stock market flotation of its fast-growing petrol station and oil terminal unit less likely. The company, which [...]
RBS referred to City watchdog by Vince Cable November 24, 2013 TAXPAYER-backed bank RBS has been referred to the Financial Conduct Authority (FCA) by the business secretary Vince Cable over claims in a report out today from Lawrence Tomlinson, enterprise adviser to the Department for Business. Tomlinson claims RBS has forced good businesses into difficulties purely to strip their assets and gain more profit for the [...]
Co-op faces series of new probes November 24, 2013 THE CITY watchdog yesterday warned more probes could be on the way for the Co-op Bank, indicating its current crisis will not be over any time soon. Financial Conduct Authority (FCA) boss Martin Wheatley confirmed he is looking into the bank’s position. “There are a number of specifics we will be looking at which potentially [...]
TSB draws up prospectus ahead of 2014 stock market flotation November 24, 2013 LLOYDS’ spin-off TSB bank has drawn up the first drafts of its prospectus to investors ahead of its initial public offering, as it prepares to float on the stock market next year. The lender was established as a standalone entity in September and says it has benefitted from the seven day switching scheme which allows [...]
Number of tax plans drops to record low level November 24, 2013 THE TREASURY’S crackdown on tax planning schemes appears to be paying off, with the number of new plans falling to the lowest level since records began nearly a decade ago. Fewer tax planning schemes were reported to HMRC in the year to September 2013 than in any other year since 2004, when the tax authority [...]
