Gambling firms hit by Spanish back tax raid May 21, 2012 ONLINE gambling firms suffered yesterday after the Spanish authorities decided to enforce two historic laws and demand substantial back taxes from offshore bookmakers with customers in the country. Bwin.party said it has completed a self-assessment process and will pay £26.56m to the Spanish taxman, expenditure that it hopes will help its bid for a new [...]
BTG back into the black thanks to supply rights for new drugs May 21, 2012 BRITAIN’S BTG swung to a pre-tax profit for the year to end-March, helped by its move to direct sales of its specialist anti-poison drugs, and said it had acquired the European named-patients supply rights for another antidote, uridine triacetate. The speciality pharmaceutical company, which already has the US supply rights for the medicine to treat [...]
Total tests reveal that the North Sea leak at Elgin has stopped May 21, 2012 FRENCH oil major Total said yesterday that several inspections had revealed that the leak of the G4 well on the Elgin complex north of Aberdeen in Scotland had stopped. Total said it started pumping mud into the disabled well on 15 May and the leak stopped 12 hours later. The next step will be to [...]
Cranswick gets a new boss as profit goes up May 21, 2012 BRITISH pork products supplier Cranswick yesterday reported a three per cent rise in full-year profit. The British company also announced that chief executive Bernard Hoggarth would step down at the company’s annual general meeting on 1 August. Hoggarth will take up a part-time role as commercial director while the company added that his stepping down [...]
Indonesian tycoon Bakrie gears up for bid to become president May 21, 2012 MULTI-MILLIONAIRE businessman Aburizal Bakrie is limbering up for presidential elections in mid-2014 in the world’s most populous Muslim-majority nation. Secular Indonesia, a hot favourite of international investors, is a sprawling archipelago of largely untapped mineral riches, an increasingly wealthy middle class and an economic growth rate last year of 6.5 per cent. But in a [...]
Landlord Segro banks £200m from sale of industrial estates May 21, 2012 LANDLORD Segro yesterday announced the sale of four industrial sites in the Midlands and Greater Manchester for a total of £204.5m, as part of a strategy to focus on core assets in London and the south east. A fund managed by US firm Harbert Management Corporation has agreed to buy two multi-let industrial estates in [...]
Olswang profits rise 30 per cent May 21, 2012 Revenues at technology, media and telecoms law firm Olswang grew by 17 per cent in the 2011/12 financial year, the firm said yesterday. Total revenue was £108.1m, up from £96.2m for the previous financial year. The increase meant the firm’s profits were up by more than 30 per cent, and it expects profit per partner [...]
HICL invests in PFI hospitals project May 21, 2012 Infrastructure investment firm HICL has taken a 30 per cent equity and loan note interest in a PFI hospitals project for £34.6m. The project is a 40 year scheme to design, build, finance and maintain an acute hospital and six mental health facilities for NHS trusts covering the Birmingham and Solihull areas. Construction has nearly been [...]
Mortgage loans plummet as tax break expires May 21, 2012 MORTGAGE lending plunged in April after the stamp duty holiday expired, industry data showed yesterday, while economists warned the underlying state of the housing market is weakening. Gross mortgage lending slumped from £12.6bn in March to £10.2bn in April – a 19 per cent fall to an 11-month low, according to data from the Council [...]
Active shareholders tie top pay to results May 21, 2012 EXECUTIVES’ pay is increasingly linked to the performance of the companies they manage, according to a wide-ranging economic study published yesterday that dismissed public worries over “rewards for failure”. “Today’s correlation between pay and performance is driven by bonuses and other incentive packages, which have become more important in recent years,” the Centre for Economic [...]
