Channel 4 breaks even despite ad slump June 23, 2010 CHANNEL 4 broke even last year despite the worst advertising slump in its 28-year history. A £53.4m record profit from digital media and budget cuts have helped to fuel the figures. Channel 4 has cut spending on programmes by more than £50m – from £598.6m in 2008 to £548.3m last year. It made a £61.6m [...]
MPC split on interest rates June 23, 2010 A member of the Bank of England’s Monetary Policy Committee (MPC) called for a rise in interest rates at its last meeting, according to minutes. Andrew Sentance voted for a hike to 0.75 per cent from 0.5 per cent. The last time an MPC member voted for a rise was August 2008. The other members [...]
Polar Capital warns over “market weakness” June 23, 2010 HEDGE fund firm Polar Capital warned markets could remain weak as it reported profits above expectations and confirmed that an inflow of client money had helped its assets under management rebound. The firm, which has seen assets fall sharply during the credit crisis, said pre-tax profit for the year to March fell by three-quarters to [...]
Stagecoach beats forecasts June 23, 2010 TRANSPORT group Stagecoach reported full-year pre-tax profit at the upper end of expectations and said it was well-placed to increase earnings in its current fiscal year. The bus and rail operator reported a decline in full-year pretax profit to £161.3m in the year to end April compared with a profit of £196.4m the year before. [...]
Kesa sees 18 per cent profit surge June 23, 2010 COMET owner Kesa has posted an 18 per cent rise in full-year profit as improved gross margins offset a decline in underlying sales growth. The electricals retailer Kesa, which also runs market leader Darty in France, made an underlying pre-tax profit of £81.9m for the year to 30 April. That was ahead of company guidance [...]
THE BIG SQUEEZE June 22, 2010 Chancellor says steep hike in VAT to 20pc is unavoidable Banks relieved as £2bn levy is more lenient than expected Public sector braced for massive job losses as spending slashed Higher rate of CGT increased to 28pc – lower than feared Income tax break worth £200 for low and middle earners Headline rate of corporation [...]
At a glance: All the crucial points from Osborne’s emergency Budget June 22, 2010 THE ECONOMY/PUBLIC FINANCES • The Office for Budget Responsibility (OBR) published fresh forecasts in light of the measures announced yesterday by chancellor George Osborne. • GDP growth will be 1.2 per cent in 2010, accelerating to 2.3 per cent in 2011, 2.8 per cent in 2012 and 2.9 per cent in 2013. The pace of [...]
Great progress on the deficit – but far too many unnecessary tax hikes June 22, 2010 WE?were told to expect a tough Budget, with lots of pain, and that was exactly what we got. Many of the policies announced were necessary; others, however, are clearly misguided. On balance, however, this Budget will leave Britain in a stronger position –?not something that could usually be said of the previous government’s efforts. George [...]
Labour goads Lib Dem MPs over VAT hike June 22, 2010 HARRIET Harman launched a scathing attack on the Liberal Democrats yesterday, claiming they had “sacrificed everything they ever stood for to ride in ministerial cars”. The acting Labour leader said George Osborne’s Budget would “throw people out of work” and hurt economic growth, as she sought to paint the Lib Dems as spineless coalition partners [...]
Coalition avoids capital gains revolt but tensions remain June 22, 2010 A COMPROMISE over higher capital gains tax has stopped a Tory rebellion in its tracks – but there is growing tension in the Liberal Democrat party over higher VAT. The coalition government yesterday increased the top rate of capital gains tax from 18 per cent to 28 per cent, a much lower rate than the [...]
