HMRC sets up secret unit to probe inheritance tax avoidance February 22, 2020 HM Revenue & Customs has implemented a secret unit to investigate the use of family investment companies (FIC) by the very wealthy to avoid paying inheritance tax. It puts family offices with a combined total of more than $1tn in assets within its sights. The tax authority set up the team in April last year [...]
JPMorgan Chase set to launch UK digital consumer bank this year February 22, 2020 JPMorgan Chase is close to launching a range of personal banking products in the UK. The world’s biggest lender by market capitalisation is set to introduce savings and loans products using the Chase brand in the next few months, according to Sky News. The New York-listed bank is due to hold an investor day next [...]
Waitrose ranked best UK supermarket in annual Which survey February 22, 2020 Waitrose has been ranked as the best supermarket in the UK in an annual satisfaction survey conducted by Which. The chain, which is owned by John Lewis, hit five stars on most categories, but did come joint-last in value for money. Budget supermarkets Aldi and Lidl continue to be ranked highest in terms of value. [...]
Coronavirus: Two dead in Italy while cases in South Korea more than double February 22, 2020 The number of coronavirus cases outside of China continues to grow as the virus claimed its first two lives in Italy on Saturday. In South Korea the number of confirmed cases has more than doubled in one day bringing the total to 433. World Health Organisation chief Dr Tedros Adhanom Ghebreyesus has said the spread outside [...]
Wells Fargo agrees $3bn settlement in fake accounts investigation February 22, 2020 Wells Fargo has agreed to pay $3bn (£2.3bn) to settle an investigation by the US government into its fraudulent sales practices. The US bank admitted to opening millions of fake customer accounts as well as wrongly collecting millions of dollars in fees, misusing customer information and harming the credit rating of customers. It brings to [...]
World Health Organisation ‘concerned’ about growing number of coronavirus cases without a link to China February 22, 2020 The World Health Organisation’s (WHO) chief has admitted the number of cases of coronavirus occurring without a clear link to China is “concerning”. It comes following an announcement from Iran confirming two more deaths, brining the total in the country to four. WHO leader, Dr Tedros Adhanom Ghebreyesus, said the window of opportunity to contain [...]
Coronavirus: Tokyo hits back at ‘inappropriate’ suggestions London could host 2020 Olympics February 21, 2020 Tokyo governor Yurilo Koike has labelled claims London would be ready to host the 2020 Olympics if necessary as “inappropriate”. While a number of sporting events having been cancelled due to the coronavirus outbreak, Japan has been determined to get this year’s Olympic Games on. Earlier this week, the Conservative Party’s London mayoral candidate Shaun [...]
Deutsche Bahn delays plans for Arriva flotation February 21, 2020 Deutsche Bahn is set to delay its plans to float its international transport business Arriva on the stock market. The German state-owned rail operator had planned to hold an initial public offering for Arriva in the first half of this year. However, that will no longer happen, sources told Reuters following a supervisory board meeting [...]
FTSE 250 property firm Daejan to be taken private in £1.3bn deal February 21, 2020 Property company Daejan Holdings saw a surge in share price in Friday morning trading after revealing it would be taken private in a deal with Centremanor. The FTSE 250 firm has agreed a deal worth 8,050p per share and saw its share price soar by 2,830p as a result. The deal values the loss-making property [...]
Eurozone PMI: Manufacturing slump eases despite coronavirus fears February 21, 2020 The Eurozone economy picked up pace in February as manufacturing activity showed encouraging signs that its slump was easing. The sector’s resilience, despite fears the coronavirus could cause a further deterioration, helped push business activity to a six-month high. The manufacturing purchasing managers’ index (PMI) rose from 47.9 in January to 49.1 this month. Although [...]
