Silver lining? Rising threat of cyber crime helps boost NCC Group’s profits July 7, 2016 The increasing threat of cyber crime has at least brought some good news for one company today, as NCC Group announced a substantial increase in both its revenue and profit. The figures The cyber security and risk mitigation firm reported revenue for its full year to May of £209.1m, up 56 per cent from £133.7m the year before. Meanwhile, adjusted profit [...]
Axa says so long to Serbia with sale to Vienna Insurance Group July 7, 2016 Axa will be saying farewell to Serbia shortly, after the insurer announced today that it had agreed to sell its operations in the country. The Paris-headquartered company said in a statement that it had entered an agreement to sell both its life and savings and its property and casualty operations in Serbia to Vienna Insurance Group (VIG). The move [...]
London generates over a quarter of the UK’s so-called economy taxes, and that could be a problem post-Brexit July 7, 2016 London is stumping up a substantial amount of the UK's taxes, and that could create issues for the country after Brexit, a report out today has found. According to the figures from the Centre for Cities, in 2014-15, London shelled out 28.6 per cent of the UK's economy taxes, which the think tank defines as those [...]
EU referendum vote was the public’s “howl of pain” against big businesses July 7, 2016 Last month's Brexit vote was the public's way of saying enough is enough to Britain's biggest businesses, a panel of experts has explained today. Speaking at the annual debate of the Management Consultancies Association, Stephen Kinnock MP described last month's vote for Brexit as a "howl of pain" and indicated that people wanted to take back control. "I [...]
I’m a transgender partner in the City and am happy to be a role model July 6, 2016 Being transgender is not a lifestyle choice. You carry this around with you the whole time. You don’t decide – it decides for you. You get to a point where you lose the fight and have to succumb. I vaguely remember the moment I lost the battle – it just dawned on me while I [...]
French government woos London bankers with tax proposals July 6, 2016 French may well be the language of love for London’s worried bankers, after France's Prime Minister yesterday promised more favourable tax terms for expats. Many in the financial sector have been concerned that London could lose its passporting rights – and, with them, rights to do business with the EU member states – as part of [...]
European Parliament votes for a tax haven blacklist and better support for whistleblowers July 6, 2016 Members of the European Parliament have today voted through measures to make corporation tax fairer, which include drawing up a blacklist of tax havens. Proposed punishments for appearing on the list of so-called uncooperative jurisdictions include reviews and potential suspensions of free trade agreements and prohibiting access to EU funds. Sanctions were also proposed for companies, banks, [...]
DAC Beachcroft unlocks the path to profit growth July 6, 2016 A focus on improving its cash position has helped profits per member to rocket at international law firm DAC Beachcroft, its provisional results revealed today. The figures The firm's total turnover for the year to April came in at £202m, up two per cent on the year before, while profit before tax rose to £35m, an increase of nine per cent. [...]
