Inmarsat sees HMRC enquiry July 28, 2013 TAX COLLECTORS are locked in dispute with satellite company Inmarsat over a $65m (£42m) tax benefit it received five years ago. The company said Her Majesty’s Revenue and Customs had made enquiries over a portion of a $218.6m tax boost for the year ending 2008. “Management does not believe that a material economic outflow is [...]
Center Parcs bounces back into the black July 28, 2013 CENTER Parcs has returned to profit after a debt restructuring left it nursing heavy losses last year. The holiday and leisure park company said it made a pre-tax profit of £18.6m in the year to April, up from a £47.9m loss a year earlier. Sales rose four per cent to £303.5m.
Deal drought for mining sector as prices plunge July 28, 2013 MINING deals have sunk by a third this year after tumbling commodity prices weakened interest in capital raising and acquisitions, a report out today shows. Mergers and takeovers in the global metals and mining sector – a key component of the FTSE 100 – fell 30 per cent between January and June, the third consecutive [...]
iPhone discounts help Apple in battle for smartphone market July 28, 2013 APPLE is regaining ground in the battle for control of the UK smartphone market after cutting the cost of its iPhone 4, according to research released today. Kantar Worldpanel ComTech found that almost a third of British purchasers chose products running Apple’s iOS software in the three months to June 2013, up five per [...]
EU and China strike solar deal July 28, 2013 THE EU and China headed off an escalation in trade war tension after clinching a deal to cap Chinese solar panel imports. Both have agreed to let China import about half of the EU’s solar demand without imports being subject to tariffs. A price cap of 56 cents has also been agreed in a bid [...]
GKN to swoop on US factory July 28, 2013 FTSE 100 engineering giant GKN is mulling plans to buy a US-based maker of Boeing 747 airplane wings. GKN, formed in Birmingham about 100 years ago as Guest, Keen & Nettlefolds (GKN), is gearing up to bid for Spirit Aerosystems’ wing division, a 3,000-strong factory based in Oklahoma. The deal, which could cost GKN about [...]
Bookies clean up on the birth of Prince George July 28, 2013 BOOKMAKER William Hill has cashed in on the arrival of Prince George of Cambridge, raking in £400,000 from Royal baby name bets. The bookie paid out just a quarter of the takings to punters who correctly wagered that the Prince would be called George. And it seems that the public are already betting on another [...]
Foxtons’ former owners book £32m dividend July 28, 2013 ESTATE agents Foxtons, which is preparing for a stock market listing, forked out a £32m dividend to its previous owners last year, its latest set of results show. Mizuho and Bank of America received the bumper dividend as part of a final payment for their interest in the business, according to accounts filed at Companies [...]
Former Goldman Sachs chair to join Department for Education July 28, 2013 FORMER Goldman Sachs Asset Management chairman Jim O’Neill has been drafted in to work alongside Michael Gove as a Department for Education (DfE) non-executive director. O’Neill, who is famed for coining the Bric term for developing nations Brazil, Russia, India and China, will take up the post in September, the department stated last night. The [...]
Employment tribunal costs condemned July 28, 2013 NEW employment tribunal costs being introduced today have been roundly criticised by both unionists and employer groups. Berwin Leighton Paisner partner Fraser Younson said: “The employment tribunal’s fees scheme was introduced by the government with the dual objectives of cutting the costs to the taxpayer of an increasing number of tribunal claims and also to [...]
