Rationale of bank surcharge under fire as IFS think tank blasts George Osborne’s 2015 July Budget July 9, 2015 A leading think tank has criticised the volatility of the UK’s bank levy and the thinking behind a new bank surcharge as part of a wider assault on what it described as a “deeply disappointing” Budget. There would have been 13 different bank levy rates in 10 years by 2020 under Wednesday’s Budget plans, [...]
TfL Tube strike 2015: Unions resume battle after strike misery paralyses London traffic July 9, 2015 Londoners were forced to resurrect the Blitz spirit yesterday as the Tube strike all but paralysed travel in the capital. As commuters faced long walks to and from work, queues for Santander bikes, gridlocked streets, taxi rates almost tripled by Uber and fights for a place on crowded buses, unions praised drivers for the [...]
George Osborne’s productivity plan: Tories promise housebuilding boom to lift economy July 9, 2015 Chancellor George Osborne will today put housebuilding at the centre of his plans to reverse Britain’s poor rates of productivity. Alongside business secretary Sajid Javid, Osborne will argue that “sweeping new changes to planning laws” can boost productivity by allowing people to live – and businesses to be located – in more efficient areas. The [...]
Market tech prepares move to main market July 9, 2015 Market Tech Holdings, the owner of Camden Market, is poised to move to the main market after raising £200m via a placing of 90m new shares yesterday, handled by Shore Capital and Canaccord Genuity. The fundraising will also pave the way for further expansion.
City plays down living wage cost fears but hospitality industry could struggle July 9, 2015 Analysts predicted yesterday that UK retailers would largely dodge the effects of the new national living wage but warned the leisure and hospitality industry would face tough times. In a surprise move on Wednesday George Osborne announced a new minimum wage of £7.20 per hour from April next year for workers over the age of [...]
Dunelm shops at Go-Ahead for finance chief July 9, 2015 HOMEWARE group Dunelm has appointed the finance chief of transport group Go-Ahead to take up the same role as it reported better than expected fourth quarter sales. Keith Down, who joined Go-Ahead four years ago and has also held senior roles at Tesco and JD Wetherspoon, will take over in September, replacing David Stead, who [...]
Pessina: CEO of Walgreens Alliance Boots July 9, 2015 WALGREENS Boots Alliance said yesterday it has appointed Stefano Pessina as permanent chief executive following the US pharmacy giant’s takeover of Pessina’s European chain Alliance Boots last year. The Italian billionaire, who is Walgreens Boots Alliance’s biggest shareholder, has been acting chief executive since Greg Wasson stepped down in January following the completion of the [...]
Bank holds rates as trial ends July 9, 2015 THE BANK of England has finished an internal trial of new procedures and from now on will publish details of monetary policy decisions on the same day they are made. In a much-expected move, the nine-strong monetary policy committee held rates at 0.5 per cent yesterday. They have been unchanged at their record low since March [...]
Market Tech placing raises £200m July 9, 2015 MARKET Tech Holdings, the owner of the iconic Camden Market and run by Israeli entrepreneur Teddy Sagi, has raised £200m through a placing that will pave the way for a move to the main market. The company, which has amassed 14 acres of land in and around Camden, placed 90m shares in an accelerated bookbuild, [...]
Bookies open new market on Barclays bosses July 9, 2015 SO BARCLAYS’ boss Antony Jenkins is sacked. John McFarlane, who’s only been chairman for three months, is acting chief, and the bookies have opened their markets. McFarlane said they want “the best person in the world available to us”. Barclays will be looking at internal and external candidates for the role. Who are you backing? First [...]
