Apple and IBM team up to create new business apps July 16, 2014 Apple and IBM are partnering up to co-develop business-centric apps for iPhones and iPads, which they intend to make available later this year. The new class of “made-for-business apps” will target specific industry issues and opportunities for clients in sectors such as retail, healthcare, banking, travel and insurance. The two companies intend to [...]
Where will the UK’s spaceport be? Probably in Scotland July 15, 2014 Eight possible locations for the UK's first space port have been revealed by the government, and six of them are in Scotland. Britain intends to build a fully functioning port by 2018, from which it will launch manned missions and commercial satellites with companies such as Virgin Galactic and XCOR. The selection was [...]
Women won’t receive equal pay until 2075 and it’s hurting the economy July 15, 2014 The fact that men and women do not receive equal pay is hindering economic growth, according to a report by Oxfam International. Called World Development Report 2012: Gender Equality and Development, the report looks into the differences in pay between genders in all G20 countries, and the rates at which the pay gap is [...]
FCA proposes restrictions on interest charged by payday lenders July 15, 2014 The Financial Conduct Authority has proposed putting severe restrictions on the amount of interest that can be charged by payday lenders. In a bid to ease concerns about high interest rates and excessive total cost of credit, the city regulator has suggested that loan rates are capped at 0.8 per cent per day of [...]
Chief executives earn almost 180 times the UK’s average salary July 14, 2014 The average annual salary of a top chief executive is now almost 180 times greater than the average annual salary for the UK, according to a report by the think tank High Pay Centre. Called Reform Agenda: How to make top pay fairer, it uses data from Manifest aand the Office for National Statistics [...]
Yo app warns Israelis of incoming Palestinian missiles July 14, 2014 The idea behind the much-talked-about YO app, which allows users to send messages to each other saying nothing more than “yo”, is that the word can be interpreted differently depending on the context. But this is a context no one was expecting: it is now being used by Red Alert, an Israeli missile notification [...]
Shire board ready to recommend AbbVie’s £31bn takeover offer July 14, 2014 Shire's board has indicated that it is ready to recommend AbbVie's latest offer to buy the company for £31bn. The bid, which was made on Sunday, marks the American company's fifth attempt to buy the London-listed pharmaceutical firm, after four previous approaches were rejected. The new offer is valued at £53 per share and would [...]
China’s Hony Capital buys Pizza Express for £900m July 12, 2014 A private equity firm in China has purchased Pizza Express for £900m. Hony Capital bought the British restaurant chain after winning against other Chinese firms in a bidding process. The move comes after London-based buyout group Cinven looked into selling Pizza Express' parent company Gondola Group last year. Gondola Group also owns [...]
Clueless about tax: singer Katie Melua defends sign up to tax avoidance scheme Liberty July 12, 2014 Singer-songwriter Katie Melua has come under fire after it was revealed that she signed up to a controversial tax avoidance scheme. Called Liberty, it works by creating artificial tax losses on investments which can be off-set against a person's tax bill. The scheme was exposed during a two week investigation by The Times into [...]
For the price of a two bed London flat you can buy an Orkney island July 12, 2014 Have you studiously saved £600,000 for a flat in London? You could always spend it on this private Orkney island and coastal farm instead. The Orkney islands are located about 20 miles to the north of the Scottish mainland, and the island of Littlequouy in Burray, which Savills has put on the market for [...]
