Johnson and Miliband both give backing to Living Wage November 4, 2012 MAYOR of London Boris Johnson and Labour leader Ed Miliband will today signal their support for the Living Wage – the rate of pay that helps meet the basic cost of living. Johnson will announce the new rate of London’s Living Wage, which all City Hall workers receive at least. It has been £8.30/hr, versus [...]
Apple paid less than 2pc tax on overseas profit November 4, 2012 APPLE paid less than two per cent tax on profits outside the US, its regulatory filings have shown. The technology giant paid $713m (£445m) in overseas corporation tax in the year to 29 September – as its foreign pre-tax earnings rose to $36.8bn (£23bn) from $24bn in 2011. The percentage of foreign tax Apple paid [...]
Cameron to lobby Middle East for BAE November 4, 2012 DAVID Cameron will this week lobby governments in the Middle East and Arabian Gulf to buy British military hardware, as part of a three day mission to the region. The news will be a boost to British defence firm BAE Systems, who help manufacturer the Typhoon aircraft. Downing Street said yesterday that the Prime Minister [...]
Duncan Smith says EU vote will happen November 4, 2012 CABINET minister Iain Duncan Smith said yesterday that a vote on the UK’s relationship with the EU is under discussion and it is “just a matter of when and on what”. The work and pensions secretary said David Cameron is “not against” a referendum but failed to clarify whether a simple in/out vote was being [...]
M&S chief to report drop in half-year profit November 4, 2012 MARKS & Spencer’s chief executive Marc Bolland is expected to come under renewed pressure this week as the retailer admits to falling first half profits for the second time in two years. Bolland, who has been at the helm of the FTSE 100 retailer for two years, is expected to announce interim pre-tax profits of [...]
Land Securities to pay £95m for Manchester Printworks complex November 4, 2012 LAND SECURITIES is to acquire Manchester’s largest leisure complex the Printworks in a £95m deal. The FTSE-listed firm is today expected to announce it has struck a deal with owner Resolution Property, to buy the site, which includes an Imax cinema, a Virgin Active fitness club and night clubs Tiger Tiger and Entourage. Land Securities [...]
Nails Inc doubles profits November 4, 2012 Nails inc, the UK’s number one nail bar chain, yesterday reported a jump in profits from £1.5m to £3.4m in its financial year to 30 June. The business, which currently sells approximately 10,000 manicures per week, saw turnover rise 49 per cent to £21.7m. Women make up the majority of clientele although five per cent [...]
Ex-Network Rail chief in new role November 4, 2012 Turnaround specialists Alvarez & Marsal has hired Iain Coucher, the former chief executive of Network Rail, as managing director to help drive its growth in transport and infrastructure sectors overseas. Coucher, who stepped down from Network Rail in 2010, was dogged by allegations of excessive pay and sparked a public backlash over his £1m payoff. [...]
Easy rider: Win Vmoto scooter November 4, 2012 EAGLE-EYED readers will remember a couple of weeks ago that The Capitalist revealed the mystery rider on electric scooter business VMoto’s new ride was none other than Mia Gardener, corporate broker at FinnCap. The brokers were preparing to float Vmoto on AIM when Gardener was accidentally papped on the motorcycle at the Corney & Barrow [...]
A well-oiled Halloween for some at Raffles November 4, 2012 A HAIR-RAISING Halloween bill this morning to make you feel better about the weekend’s excesses, which no doubt pale in comparison to one group’s £40,000 cork-popper at Chelsea members club Raffles last week. The Capitalist hears one regular, a energy trader, was pleasantly surprised when actor Benicio del Toro planted himself on a neighbouring table [...]
