Cadbury hit with £62m Indian tax bill over ‘phantom factory’ April 6, 2015 Chocolate maker Cadbury was yesterday hit with a new 5.7bn Indian rupee (£62m) tax claim in India in relation to allegations that it claimed excise benefits on a “phantom” factory. India, under pressure to reduce its budget deficit, has sought to boost fiscal revenue, not least by pursuing billions of dollars in unpaid tax claims [...]
Aim sees listing drought as oil rout continues April 6, 2015 GENERAL Election jitters and crumbling commodity prices led to a slump in new listings on the Alternative Investment Market (Aim) during the first quarter, according to UHY Hacker Young. In a study released today, the accountancy firm said the Aim had seen just 10 initial public offerings (IPO) in the three months to the end [...]
End in sight for Enron scandal as administration in Europe ends April 6, 2015 The administration of failed energy giant Enron’s European operation has completed. Accountancy firm PwC was appointed to oversee the winding up of the company’s assets in Europe, after the US-based group imploded 14 years ago. The firm had employed 21,000 people before its collapse, and 1,400 of those worked in the group’s European [...]
City Moves for 07 April 2015 | Who’s switching jobs April 6, 2015 EMW The commercial law firm has announced several appointments. Caroline Hayward (pictured) and Robin Creek become principals in its real estate team. They both joined EMW from Harvey Ingram Borneos in 2012. Gurpreet Sanghera becomes a principal in its corporate team. In addition, Matthew Holman becomes an associate in the law firm’s commercial team, and [...]
Best of the Brokers for 07 April 2015 April 6, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HARGREAVES LANSDOWN Numis downgraded HL to a “hold” rating. It still believes the firm will outperform its peers, but thinks a very strong recent share price run is not matched by a small mark to market upgrade. JD WETHERSPOONS Canaccord Genuity reiterated its [...]
Production data and election are week’s focus – London Report April 6, 2015 THE EASTER Bank Holiday shortened week will see traders closely tracking the political scene not only in Greece, but also in the UK as the election season kicks into full swing. Acting as a backdrop, economists will be waiting for the latest hard data on industrial production in Britain to gauge the firmness of the [...]
Wall St buoyed by reports hike maybe delayed – New York Report April 6, 2015 EXPECTATIONS that the Federal Reserve could hold off longer on a rate hike pushed stocks higher yesterday, offsetting concerns over Friday’s surprisingly weak jobs report. The jobs report was lower than thought, with data showing US employers last month added the fewest jobs in more than a year. The Dow Jones industrial average rose 117.61 [...]
Obama should listen to the people in pushing through his Iran nuclear deal April 6, 2015 Foreign policy analysis in any country tends to be the preserve of a tiny elite: a small number of people practise it, and generally a miniscule section of society follows it. In the UK, to all our shame, a far greater percentage of the population watches The X Factor than exhibits a healthy understanding [...]
Welfare of Nations: Our debate about the future of the state is worryingly parochial April 6, 2015 In the aftermath of the Cold War, we were told that capitalism had won. Communism had been defeated, and we were entering Francis Fukuyama’s “End of History” – with capitalist liberal democracies the highest, and final, form of human government. But what if “capitalism” versus “communism” was always a false dichotomy? What if the truly [...]
Mythbusting Nigel Farage: Why immigration doesn’t erode social cohesion and trust April 6, 2015 The political scientist Robert Putnam famously found that Americans “hunker down” in the face of social diversity, doing less in the community and trusting people less – even their own compatriots. When Nigel Farage suggested that one reason kids tend not to play on the street nowadays was immigration, he was voicing a common concern: [...]
