Boris slams plans for property tax as stamp duty hits market November 19, 2012 BORIS JOHNSON yesterday slammed Liberal Democrat politicians who are calling for property tax hikes, while urging Google and other companies criticised for tax avoidance to do more to benefit the UK. “It is absurd to be suddenly whacking up taxes on cash-poor people who happen to inhabit expensive houses in London when firms like Google [...]
Government to lay out new plans for energy bills November 19, 2012 THE GOVERNMENT is expected to get tough on energy companies today, with ambitious proposals to reduce bills for consumers. Energy secretary Ed Davey is to make a speech this afternoon, in which he is expected to outline plans that he hopes will help consumers reduce their growing gas and electricity bills and make it easier [...]
It is shocking just how much tax most workers have to pay November 19, 2012 ONCE again, Boris Johnson is making sense on tax. He is right to be calling for a lower tax economy and to oppose increasing the tax on homeowners – while simultaneously demanding the elimination of the loopholes that mean that the current system is riddled with problems, especially when it comes to corporation tax. The [...]
What the other papers say this morning November 19, 2012 FINANCIAL TIMES SAS staves off bankruptcy SAS has staved off the immediate threat of bankruptcy after all eight unions representing flight personnel at the Scandinavian airline signed up to wage cuts of up to 15 per cent. In a marathon negotiating session that lasted from Sunday morning until yesterday afternoon, SAS managed to convince one [...]
Ex-banker calls PPI claims mad November 19, 2012 BANKS have given in to “mad” levels of compensation to victims of payment protection insurance (PPI) mis-selling, former HBOS retail risk chair Sir Charles Dunstone claimed yesterday. Sir Charles said banks “surrendered” to the £11bn package set aside for victims, due to their unpopularity – going on to say that he didn’t think the policies [...]
JP Morgan picks Lake as new CFO November 19, 2012 JP MORGAN Chase has named Marianne Lake as its new chief financial officer (CFO). Lake, currently CFO of JP Morgan Chase’s consumer and community banking business, will step into the new role next year. She will take over from Douglas Braunstein, who will become the bank’s vice chairman. Lake’s former positions include global controller of [...]
Hollande hit by Moody’s rating downgrade November 19, 2012 FRENCH President Francois Hollande was hit with yet another downgrade last night, as Moody’s took the Eurozone’s second biggest economy down a ratings peg. In another blow to President Hollande’s fiscal policy, French government debt was cut to an Aa1 rating, from Aaa, following a similar decision from Standard & Poor’s in January. To add [...]
Ocado investors prop up £36m capital raising November 19, 2012 OCADO’S shareholders ploughed more money into the online grocery chain yesterday to support a £36m placing that will keep the firm financially stable for at least 18 months. Existing shareholders including Jorn Rausing of the Tetra Pak dynasty and Ocado’s management team took up around 19 per cent of the shares placed, in line with [...]
Cash boxes explained November 19, 2012 Q What is a cash box placing ? A A cash box placing allows a company to issue new shares by bypassing pre-emption requirements – meaning without shareholder approval – provided they are issued for a non-cash consideration, such as the shares of another company. Q How does the structure work? A The listed company [...]
Shareholders set to approve Glenstrata deal November 19, 2012 XSTRATA shareholders are expected to vote through the £56bn mega-merger with Glencore this afternoon, following months of negotiations between the two commodity giants. Today’s shareholder meetings, the first of which is scheduled for 1pm in Switzerland, come nine months after commodities trader Glencore first approached miner Xstrata. The two meetings will include four resolutions, thanks [...]
