Think tank attacks green taxes August 14, 2011 Green taxes are imposing “excessive” costs averaging £500 per year for every British family, the Taxpayers’ Alliance will argue today. The social costs of carbon emissions total £16.9bn, according to government estimates – around £13bn less than the £30.1bn net amount raised by domestic green taxes, the TPA has calculated.
Wages rise in motoring sector August 14, 2011 Pay in the automotive industry is rising for the first time since before the recession, according to the latest data from Incomes Data Services (IDS), released this morning. Figures for the year to June show that median pay rises across the industry grew to 3.4 per cent this year, up from zero growth the previous [...]
United Biscuits nears break-up of brands August 14, 2011 UNITED Biscuits, which makes tea-time favourites including Digestives and Jaffa Cakes, could be broken up as its owners plan to renew efforts to sell the company. Private Equity owners Blackstone and PAI Capital will hold fresh talks in coming months that may see the savoury brands, which include KP Peanuts, spun off from its biscuits [...]
Sisu Capital sees second annual loss as fee income falls August 14, 2011 JOY Seppala’s secretive hedge fund Sisu Capital posted a £434,000 net loss for the year to the end of March after being hit by a huge tax charge by HMRC, accounts show. Sisu Capital, co-founded 14 years ago by Seppala and business partner Dermot Coleman, posted a £272,300 loss before tax, slightly better than the [...]
Algy Cluff sets his sights on listing self-named coal mining firm August 14, 2011 ALGY Cluff, the 71-year old mining tycoon who once said that his venture Cluff Gold would be “the last throw of the dice” is returning to the market with plans to list a new mining company on the London Stock Exchange next year. Cluff Africa Associates, the fifth in a line of companies to bear [...]
Ben Sherman hires Burberry man August 14, 2011 UK menswear label Ben Sherman has hired Burberry’s head of marketing Adrian Ward-Rees as the company’s new commercial director. Ward-Rees has previously held positions at Nike and Speedo, and joined Burberry in 2007. Ben Sherman is run by ex-WDT chief executive Pan Philippou, and was bought by US clothing retailer Oxford Industries in 2004.
Apes film tops US box office August 14, 2011 Sci-fi movie Rise of the Planet of the Apes hung on to the top spot at the weekend box office for the second week in a row, according to studio estimates. The revival of the Planet of the Apes franchise pulled in an estimated $27.5m (£16.9m) at US and Canadian theatres over three days, distributor [...]
Evonik plans real estate sale August 14, 2011 German unlisted chemicals maker Evonik wants to sell the majority of its real estate business’ apartments. Through focusing on its core chemicals business, Evonik hopes to bolster itself for a planned initial public offering (IPO). Evonik’s residential real estate operations, Evonik Immobilien GmbH and THS GmbH jointly hold around 130,000 residential apartments.
GREAT NORTHERN HOTEL FREEHOLD SOLD August 14, 2011 THE freehold on the 157-year-old Grade-II listed Great Northern Hotel, which will form part of the new King’s Cross station redevelopment, has been bought by US real estate investor Pramerica for £12m. A pedestrian arcade that links the station and the hotel has already been completed, and the renovated hotel is slated to reopen in [...]
Office space take-up in the City stays flat August 14, 2011 TAKE-UP of office space in the City remained at its lowest level since 2009 in the last quarter, according to new research by Equipe. There have been no moves to offices larger than 50,000 sq ft in the last six months, with take-up of office space at just 834,000 sq ft, slightly down on the [...]
