HMRC collects just £780m from supposed £3bn Swiss tax deal October 28, 2013 THE TAXMAN has raised just £780m this year from a raid on Swiss bank accounts that was supposed to bring in £3.1bn, it was revealed yesterday. Officials from HM Revenue & Customs (HMRC) told the public accounts select committee it has collected a quarter of the amount expected to be raised by targeting Britons who avoid tax by hiding their [...]
US factory and housing data suggest economy losing steam October 28, 2013 US MANUFACTURING output barely rose in September and contracts to buy previously owned homes recorded their largest drop in nearly three-and-a-half years, the latest signs the economy’s momentum ebbed as the third quarter ended. The reports yesterday showed economic activity was on a weak footing even before a 16-day partial shutdown of the US federal [...]
Luxury goods sales are up but hit by weak yen October 28, 2013 SPENDING on luxury goods this year is expected to top last year’s sales, with growth in the Americas overtaking that of China, a worldwide study revealed yesterday. In a reversal of the trend in recent years, spending on luxuries in the Americas is expected to grow four per cent this year, as opposed to 2.5 [...]
New boss of government’s bank shares makes changes on day one October 28, 2013 THE BANKER in charge of the government’s stake in the bailed out banks shook up management at UK Financial Investments (UKFI) in his first day on the job yesterday. James Leigh-Pemberton came from Credit Suisse to take over as chief executive of UKFI, and in the New Year will become its executive chairman, a new [...]
Council house sells for record £2.96m October 28, 2013 A COUNCIL house near London’s South Bank was sold at auction yesterday for a record £2.96m, making it the most expensive ever sold in the UK. The Grade II-listed property at 21 and 23 Park Street near Borough Market was put up for sale by Southwark Council, to help fund the building of new council [...]
Europe’s banks identify another €100bn in non-performing loans October 28, 2013 EUROPE’S banks are sitting on more than €1.2 trillion (£1 trillion) in non-performing loans (NPLs), and the level is set to increase as they comb through their portfolios next year, PwC analysts said today. The consultancy recorded an additional €100bn added to banks’ portfolios across Europe in the last 12 months, driven by rising volumes [...]
Small property leads growth in house prices October 28, 2013 HOUSE prices jumped again in September, Land Registry figures showed yesterday, with London leading the way. And by category of property, flats were far and away the biggest riser in the month. The UK as a whole saw prices rise 1.5 per cent in the month and 3.4 per cent on the year to an [...]
UK retail sales grind to a halt in October as supermarkets stutter October 28, 2013 ANNUAL growth in British retail sales unexpectedly ground to a halt over the past month, hit by the first big fall in supermarket sales since February, the Confederation of British Industry said yesterday. The CBI distributive trades survey’s retail sales balance slumped to plus two from a 15-month high of plus 34 struck in September, [...]
Solid revenue rise for Jones Lang LaSalle October 28, 2013 PROPERTY giant Jones Lang LaSalle yesterday reported solid third quarter results, with revenue up 19 per cent to $1.1bn (£682m) from the same period last year. The firm, which is a sales agent for Battersea Power Station, reported adjusted earnings per share of $1.49 for the quarter, up from $1.23 at the same time in [...]
G4S turns down £1.5bn offer for cash solutions October 28, 2013 G4S, THE FTSE 100 outsourcing group, yesterday said it had rejected a £1.55bn offer from Charterhouse Capital Partners for its cash solutions business, claiming it undervalued the unit. The company said that it regarded the private equity firm’s offer as “highly opportunistic” and rejected it due to “the strategic importance of the cash solutions businesses [...]
