Thousands of self-employed people facing HMRC fines for late tax returns, say accountants October 23, 2015 Thousands of self-employed Londoners face fines of up to £1,600 at the start of next month for failing to file their tax returns on time, according to City accountants Perrys. Last year approximately 700,000 people in the UK missed the government’s 31 October submission deadline. This year, the fines are estimated to hit as many as 890,000 people. And with 680,000 London workers registered [...]
Volkswagen hires compliance manager Christine Hohmann-Dennhardt from rival Daimler to help clean up emissions scandal October 16, 2015 Volkswagen has today hired a new director of integrity and legal affairs in a bid to recover from its emissions scandal. Christine Hohmann-Dennhardt is joining from rival Daimler, where she held the same position.She will pick up the newly-created role at VW on 1 January. Daimler has agreed to release Hohmann-Dennhardt from her contract early after a VW put a special request [...]
Think iPhones are expensive? An Apple 1 computer is being auctioned by Christie’s for £500,000 October 16, 2015 One of the first ever Apple computers is going up for sale at London auction house Christie's – and it's expected to raise as much as £500,000. Christie's said the rare Apple 1 computer is one of only about 50 in existence. Hand-made by Steves Jobs and Wozniak in their garage, only 200 were ever made. It's no wonder, then, that [...]
What commodities crisis? Rio Tinto posts healthy third quarter results with more iron but less salt October 16, 2015 Miners may have been hit be the global commodities crisis in recent money, but here's one which is doing alright: global miner Rio Tinto posted a 17 per cent rise in third-quarter iron ore shipments today. The world’s second-biggest mining company reported iron ore shipments of 91.3m tonnes, on track to meet its 340m end-of-year target. The figure, up from 303m tonnes [...]
Interview: City A.M. talks to Mark Britnell, chairman of global health at KPMG October 16, 2015 As chairman of KPMG’s global health practice, Mark Britnell understands the changing face of healthcare better than almost anyone. With over 20 years' experience in healthcare, Britnell has overseen the largest new hospital build in British history, established the Royal Centre for Defence Medicine and worked as director general of the NHS (2007-2009). His book ‘In Search of the Perfect [...]
IMF’s Christine Lagarde hails TPP as economic upgrade October 9, 2015 The Trans-Pacific Partnership (TPP) is an economic "upgrade" with the potential to kick start world markets, International Monetary Fund (IMF) managing director Christine Lagarde said today. Speaking at the annual meeting of the IMF and the World Bank in Lima today, Lagarde stressed the importance of implementing the free trade deal. "I am hopeful that, building on the recent TPP agreement, we can restart the stalling engine of global trade. These upgrades will [...]
Nightmare before Halloween? UK retailers are facing a pumpkin shortage October 9, 2015 Forget things that go bump in the night – this Halloween, retailers could face a real nightmare: a massive pumpkin shortage, with early signs suggesting wet weather could squash the hopes of thousands of British shoppers in the run-up to Halloween. An estimated 10m pumpkins are grown in the UK every year. And Sainsbury’s said it expects customers to buy almost 1.5 million pumpkins, with just [...]
British car exports hit record high in third quarter – but pound falls as trade deficit widens further October 9, 2015 British car exports are at a record high, the Office for National Statistics (ONS) said today. Exports of cars made in Britain rose by £800m to £23.6bn in August – and that didn't even take into account any impact from the Volkswagen emissions scandal, which broke in mid-September and has hit German exporters where it hurts. In less [...]
Secure Income Reit completes £903m loan deal October 2, 2015 Secure Income Reit, led by chairman Martin Moore, has today completed a £903m loan deal in a move that paves the way for the company to start paying out dividends to shareholders. The fixed-rate loan will last 10 years and is secured against the group's £1,3bn property portfolio. Today marks the third drawdown of a three-facility arrangement. The third and final loan is valued at £315.6m, [...]
Equiniti Group set for £390m London float October 2, 2015 Investor services firm Equiniti Group confirmed its plans to float on the stock market today. Equiniti, which provides share registration and investor services, said it planned to raise £390m through the float on the main market of the London Stock Exchange. The company intends to use proceeds from the IPO to reduce debt, which currently stands at £440m, and pursue potential [...]