Dechra Pharmaceuticals buys wisely as acquisitions boost revenues January 17, 2017 Shares in animal drugmaker Dechra jumped over six per cent in early trading morning after it revealed "significant growth" in its annual trading statement. The figures The hard data will come when the FTSE 250 firm releases its full results, but in the trading update, the firm announced group revenue had grown by 34 per cent at [...]
National Audit Office: Concentrix £1bn tax credit outsourcing delivered savings of less than a fifth than was expected January 17, 2017 A catalogue of errors in relation to outsourcing tax credits has been laid bare in a damning report by the public spending watchdog. Highlighting a series of shortcomings, the National Audit Office (NAO) today released its findings into HM Revenue & Customs’ (HMRC) controversial outsourcing arrangement with Concentrix. HMRC estimated £1bn of savings could be [...]
Alliance Trust reveals fund managers which will boost returns to shareholders January 16, 2017 The UK's largest investment trust has revealed the investment manager that will take charge of running the fund's assets following a fund manager shake-up late last year. In December, Alliance Trust announced a series of changes that included dropping in-house manager ATI and selling it to asset manager Liontrust in a deal worth £30m. The investment trust, [...]
Mazars opts for Verity to lead the firm for the next four years January 16, 2017 Many workers in the Square Mile may be dusting off their CVs, thinking a change will assuage downbeat sentiment experienced on Blue Monday. But the head of one accountancy firm may beg to differ and is proof that sticking with one firm can pay dividends. Phil Verity has been re-elected as the senior partner of mid-sized accountancy firm [...]
Insurance sector slapped with a 70 per cent top-up levy from regulators January 16, 2017 UK regulators have hiked levies on the insurers and pension firms despite plans to reduce total levies on the Britain's financial sector next year. The Financial Services Compensation Scheme (FSCS), a statutory initiative to compensate customers of financial services that are unable to pay claims against them, announced its overall budget for 2017/18. The overall industry levy will fall [...]
Brickmaker Ibstock boosted by increased housebuilder demand and weak sterling January 16, 2017 Ibstock shares opened broadly flat this morning after announcing earnings would be in line with forecasts, with sales supported by strong second half demand the company said in its annual trading update. The figures The hard data is to come but the firm's trading update for the year to the December, today trailed the headlines. Group [...]
Smokers Paradise lost: City’s oldest cigar shop shuts its doors January 14, 2017 One of the City's oldest cigar shops has shut its doors after serving the great and the good of the Square Mile for almost 200 years. Smokers Paradise, a shop which was based in the iconic Royal Exchange at the heart of London's financial district, has sold its final Montecristo after rising rent costs made it [...]
Leading bookmaker hits out on government plans, warning of “consequences for the sector” January 14, 2017 One of Britain's largest bookmakers has criticised government plans to take 10 per cent of gambling firms horse racing profits to fund the sport. Ladbrokes Coral, which runs over 4,000 betting shops across the UK, said the proposals "will have consequences for the sector". The department of culture, media and sport today announced an amendment to laws dating [...]
Dakar Rally: Sam Sunderland takes motorbike title at third time of asking January 14, 2017 Sam Sunderland has won the motorbike classification of the Dakar Rally, becoming the first Briton to win the iconic race. The 27-year-old KTM rider, who bases himself in Dubai finished well ahead of his nearest rival, Austrian Matthias Walkner, to today take the title. Read more: The Volvo V40 Cross Country T5 defies all categorisation Sunderland took [...]
Horse racing levy to be imposed on bookmakers, hitting profits from April January 14, 2017 Horse racing organisations rejoiced will bookmakers fumed after the government announced plans to slap a 10 per cent levy of gambling firms. And bookies won't have much time before get used to the new rules as sports minister Tracey Crouch plans to introduce the levy – which is on all profits greater than £500,000 made on [...]
