High time to rehash drug policy, think tanks say, as legalisation could save taxpayer £900m Think tanks have today called on the government to radically rethink its drug policy, as it was revealed that taxpayers could save nearly £900m a year if cannabis was legalised. A report by the TaxPayers' Alliance (TPA) argued that legalising the drug would reduce spending by police, prisons, courts and the NHS and put a [...]
James Murdoch quits Sky as Comcast officially confirms takeover of media titan James Murdoch has resigned from Sky's board after Comcast confirmed it was now officially the owner of the UK media titan. The chief exec of 21st Century Fox Murdoch stepped down from the board alongside six other directors after Comcast said it had officially acquired 75 per cent of Sky's share capital. The chance of Comcast [...]
BT pension scheme appoints Now Pensions founder Morten Nilsson as chief exec The BT Pension Scheme today appointed the founder of Now Pensions Morten Nilsson as its new chief executive. BT Pension Scheme Management (BTPS) said Nilsson will take up the role immediately and report to the firm's chairman of the board of trustees, Paul Spencer. The telecoms giant's pension is one of the largest defined benefit [...]
Competition watchdog launches review of audit sector October 9, 2018 The competition watchdog today confirmed it has launched a probe into the UK's audit sector, ending weeks of speculation. The Competition and Markets Authority (CMA) said it will review whether the sector is competitive and resilient enough to maintain high standards. Calls to review the sector and possibly break up the "Big Four" of PwC, KPMG, Deloitte and EY [...]
Screen industries bring £7.9bn into UK economy as tax relief drives TV and film production October 9, 2018 Tax relief in the UK creative industries has driven a spend of £7.9bn a year into the British economy, research out today has shown. The British Film Institute (BFI) said tax relief across industries such as film, high-end TV and video games led to the huge spend in 2016, rising from £2.7bn the year before and [...]
ITV ditches plans to move back into South Bank headquarters October 9, 2018 Broadcaster ITV has ditched plans to move back into its headquarters on London's South Bank, it confirmed today. The firm's chief exec Carolyn McCall has instead decided to put the building up for sale. ITV originally moved out of its South Bank site and into a separate London facility in 2017, with plans to move [...]
AccorHotels takes 50 per cent stake in US luxury hospitality firm SBE Entertainment October 9, 2018 AccorHotels today said it had acquired a 50 per cent stake in US hospitality company SBE Entertainment. The hotel chain said the deal will allow it to expand its business into the luxury lifestyle hospitality sector, as well as plant its footprint throughout North America. SBE specialises in high-end hospitality and manages and operates hotels, residences, restaurants, spas, and [...]
WPP loses major Ford advertising contract to US rival Omnicom October 9, 2018 WPP has been dealt a major blow as it lost a key Ford advertising contract to the agency of one of its biggest US rivals, Omnicom. The news will be a major setback for new chief exec Mark Read, who was only appointed at the start of September. Ford was one of WPP's longest-standing advertising partnerships, as [...]
Airbus close to appointing commercial aircraft boss Guillaume Faury as next chief exec October 8, 2018 Airbus is close to appointing its plane-making boss Guillaume Faury as its new chief executive, according to reports today. Faury would step in for Tom Enders, who in December announced he would not stay on after his current term expires next year, having led the company since 2012. Airbus had promised to name his successor before the [...]
Punter Southall Aspire buys JDP Financial Services in bid to expand financial planning arm October 8, 2018 Wealth management and pensions firm Punter Southall Aspire today announce the acquisition of JDP Financial Services in an effort to expand its financial planning division. Punter offers integrated financial advice service and investment administration platform for employers and individuals, alongside other wealth management services. The deal for the Bedford based firm, which was agreed for [...]
