HMRC pays out its highest ever amount to tax whistleblowers June 14, 2015 HMRC paid a record amount to tax informants in the year ending 31 March, City law firm RPC said today. The state tax collector paid out £605,000, up 50 per cent on the previous year. Experts suggest it is because of increased awareness of the rewards available for information. “HMRC does not widely publicise the [...]
Loans backed by inventory almost double June 14, 2015 BUSINESSES looking to borrow money are increasingly using loans secured against their inventory, with values doubling since last year, a trade body said today. Around £880m of funds were secured this year against items such as machinery and real estate, up from £444m last year, the Asset Based Finance Association says. “Businesses tie up billions [...]
Management consultants make the case for UK staying in the EU June 14, 2015 A group of management consultants will say this morning that its industry is thriving on the back of the UK’s economic growth. Fee income for members of the Management Consultancies Association (MCA) jumped 8.4 per cent to £5.2bn last year, the organisation will reveal. It estimates that for the whole UK consulting industry, fee income [...]
City Moves for 15 June 2015 | Who’s switching jobs June 14, 2015 Zeus Capital The investment bank has appointed Phil Walker as head of healthcare corporate finance. He was most recently executive director in corporate finance at Nomura Code Securities, a boutique investment banking firm he co-founded. Walker has also held roles at WestLB Panmure and Panmure Gordon. Charles Stanley Ben Money-Coutts has been appointed chief financial [...]
Best of the Brokers for 15 June 2015 June 14, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com WHITBREAD Canaccord Genuity upgraded its “hold” rating for the owners of Premier Inn and Costa Coffee to a “buy” rating. Growing UK markets leave it well placed to achieve its new 2020 milestones of 85,000 UK hotel rooms and £2.5bn of Costa system [...]
Higher transport prices could push UK out of deflation – London Report June 14, 2015 RISING petrol costs and an uptick in air and sea transport prices may push the UK out of deflation in May. Data due out tomorrow is expected to show that consumer prices edged up 0.1 per cent year-on-year in May. IHS Global’s Howard Archer said consumer price inflation will likely hover close to zero during [...]
Health sector set for change – New York Report June 14, 2015 HEALTHCARE sector investors seem bullish ahead of a crucial Supreme Court ruling on the Affordable Care Act. The court meets today but may not issue a ruling on King v Burwell, a challenge to President Obama’s signature healthcare reform legislation, until later this month. At issue are the tax credits that help about 6.4m Americans [...]
Why Turkey will be the first of the emerging market dominoes to fall June 14, 2015 Like a lion ambling out of the mists of the Serengeti in search of its first meal of the day, first-rate political risk analysts must possess the sixth sense of always looking for the weakest water buffalo. Delving beneath the happy talk and self-serving comments governments invariably put about regarding their countries’ economic prospects, they [...]
The City needs smarter regulation – not the stability of the graveyard June 14, 2015 The City of London was firmly in the spotlight last Wednesday with the speeches given by the chancellor and governor of the Bank of England at Mansion House. Aside from the government’s sale of shares in RBS and Royal Mail, behaviour – or more specifically misbehaviour – in the City was the subject that dominated [...]
London Technology Week will showcase the UK as a global tech powerhouse June 14, 2015 This week, tens of thousands of tech experts from all over the world will descend on the capital for London Technology Week. It presents an opportunity to celebrate our city’s position as the tech capital of Europe. Inventors and innovators will parade the very latest in pioneering tech and digital thinking. And hundreds of workshops [...]
