Business groups unite in call for tax cuts to boost economy September 29, 2013 GEORGE Osborne should avoid populist measures and deliver a programme of radical tax cuts that would boost the economy, business groups said yesterday. Speaking as the Conservative party conference got underway in Manchester, both the Institute of Directors (IoD) and British Chambers of Commerce (BCC) called for more ambitious policies. “The challenge for the Conservatives [...]
Royal Mail to stay private September 29, 2013 ROYAL Mail will not be nationalised by a Labour government, business secretary Chuka Umunna confirmed yesterday, meaning it is highly unlikely that the postal service will ever return to state control. But investors looking to buy shares when the company goes public next month are likely to be concerned by Umunna’s pledge, in a Huffington [...]
Sofa giant DFS draws up plans for London float September 29, 2013 DFS, the UK’s biggest sofa chain, is lining up plans to list on the London stock market amid moves by its owner to cash in on its surging sales growth. The company, formerly known as Direct Furnishing Supplies, has ridden out the high street downturn and retail bloodbath over the past year to post an [...]
US debt ceiling looms without agreement on healthcare plan September 29, 2013 THE US congress is yet to reach an agreement over the looming debt ceiling, which will prevent the government from borrowing any more at midnight tonight. Politicians are yet to find an agreement that would avoid the debt ceiling, with a dispute over the funding of President Barack Obama’s flagship healthcare policy still raging. Without [...]
Think tank says EU wasted funds on advertising September 29, 2013 A WESTMINSTER think tank has released a guide to some of the more questionable spending by the European Union (EU), criticising what it claims are examples of poor value for money. According to the Taxpayers’ Alliance (TPA), the EU spent €2.4bn (£2.01bn) on advertising in 2008, more than Coca Cola. Other examples include a total [...]
Italian coalition breaks as fiscal deal collapses September 29, 2013 THE GOVERNING coalition in Italy collapsed over the weekend, with ex-Prime Minister Silvio Berlusconi’s party withdrawing support for the five-month old administration. Five ministers of the People for Freedom party stood down over the weekend, attacking a planned increase in Italy’s sales tax, which was due to rise from 21 to 22 per cent. Labour [...]
Directory service 118118 dashes into unsecured loans business September 29, 2013 DIRECTORY service 118118 is running into the loans business today, with customers able to borrow £1,000 to £5,000 in unsecured loans. The company says its annual interest rates will vary from 36 to 80 per cent, and is aimed at customers whose applications have been rejected by banks. Chief operations officer Paul Noble said the [...]
Insolvency hits 12-month low as firms thrive September 29, 2013 BUSINESS insolvencies fell in August compared with the same month in 2012, marking 12 months of falling insolvency rates, according to data out today from credit information firm Experian. A total of 1,632 firms failed in the month, down on the 1,723 that failed in August 2012, and the 12th month in a row that [...]
Tougher takeover regulations now apply to more Aim firms September 29, 2013 MORE Aim-listed companies will have to comply with tougher corporate behaviour standards when involved in takeovers from today, meaning more clarity for shareholders – and higher costs for firms involved in the deals. New changes to the takeover code stipulate that all companies that have their registered office in the UK – even if they [...]
Average director salary reaches £191,000 for small-cap firms September 29, 2013 DIRECTORS of companies listed on London’s Alternative Investment Market (Aim) saw their pay jump five per cent last year, according to data out today from Income Data Services (IDS). Using the median figure to exclude the impact of the most extreme pay packets, IDS calculated the average director of an Aim-listed company received a basic [...]
