“Concerned but not surprised”: Three-quarters of UK landlords and sole traders miss digital tax launch
Unite calls off London bus strike July 4, 2012 The Unite union yesterday called off today’s bus strike, pledging to continue negotiations over bonuses for drivers over the Olympic period. Transport for London intervened in the dispute between the union and bus firms yesterday, offering to give a 50 per cent share of any extra revenues made during the Games to bus staff, on [...]
Heggessey leads Boomerang MBO July 4, 2012 Cardiff-based independent television company Boomerang was the subject of a management buyout led by former BBC1 controller Lorraine Heggessey. The £7.1m takeover will see Boomerang become Boom Pictures, with ex Talkback Thames boss Heggessey its executive chairwoman. The deal has been approved by 81 per cent of Boomerang’s investors , who will receive 77p per [...]
Betfair jumps on horse racing deal July 4, 2012 Betfair yesterfday signed a five-year profit-sharing deal with British Racing which will see the online betting exchange hand over 10.75 per cent of all its UK revenues generated from horse-racing bets. The deal is in place of Betfair’s current voluntary Horserace Betting Levy, and will guarantee a minimum of £40m of funding over the next [...]
CITY MOVES | WHO’S SWITCHING JOBS July 4, 2012 Psigma Psigma Investment Management has appointed Nina Krishna to the newly-created role of chief operating officer. She recently worked as chief operating officer for global banking, markets and private banking for HSBC in Dubai. Krishna has 30 years’ experience in the industry, and has held senior roles at JP Morgan, UBS. She started her career [...]
BEST of the BROKERS July 4, 2012 BRITVIC Numis rates the drinks firm “hold” and has a target price of 320p. The broker thinks the miserable weather has dampened Britvic’s third quarter sales, having endured the wettest June on record, and reckons the firm will see a 2.1 per cent drop in revenues to £318.2m, dragging annual growth to 0.1 per cent. [...]
FTSE ends flat in thin trade with US shut and all eyes on central banks July 4, 2012 BRITAIN’S top share index edged down in thin trade yesterday, moving within a tight range as investors awaited central bank meetings today that many expect to result in fresh economic stimulus. A US holiday contributed to low volumes across the market, at less than half the 90-day daily average, with many investors preferring to wait [...]
Trust has lost all of its value in our state-regulated financial markets July 4, 2012 THE spotlight in the Libor rate-fixing scandal has moved. Questions are being asked about the culpability of the FSA, which may well have ignored repeated warnings about Libor calculations from market participants. The role of the Bank of England and the Treasury is also being questioned. Of course, regulators are not to blame for the [...]
Obama’s healthcare victory could prove a poisoned chalice in November July 4, 2012 FOLLOWING the ratification of the US Constitution, Benjamin Franklin quipped that “in this world, nothing can be said to be certain, except death and taxes.” Due to the creative jurisprudence of Chief Justice of the Supreme Court John Roberts, President Barack Obama can be thankful that the death of his health care reforms has been [...]
The Higgs boson discovery is only the first chapter July 4, 2012 SCIENTISTS at the European Organisation for Nuclear Research (Cern) announced yesterday that they have identified a new heavy particle with all the properties expected of the Higgs boson – first predicted to exist in the 1960s. This is not the first new particle that experiments at the Large Hadron Collider at Cern have discovered since [...]
As Barclays’ rate-fixing revelations continue to emerge, should this be the end for Libor? July 4, 2012 YES Tim Price There has to be a more honest and efficient way of establishing market interest rates than having banks submit – whether fraudulently or not – where they think they might be able to borrow from or lend to their competitors, and then crudely averaging the results. One answer might be to allow [...]
