CFD research clarification January 24, 2011 In yesterday’s paper we ran a story headlined “Investors beat tax by using CFDs”, in which we reported that contracts for difference (CFD) are capital gains tax exempt. This was incorrect and was not sourced from research published by Tabb Group. Contracts for difference do not incur stamp duty, however they are subject to capital [...]
Property experts say stamp duty hike will not hinder sales January 20, 2011 HIGH-END property buyers will not be put off by the looming rise in stamp duty, according to research seen by City A.M. Though the OECD warned yesterday that the tax places unfair barriers on the housing market for some, 52 per cent of property professionals surveyed by Investec thought the 25 per cent duty hike [...]
Goldman earnings prompt FTSE sell-off January 19, 2011 A surprisingly sharp sell-off on the FTSE this afternoon pushed the index below the 6,000 mark, to close down 79.73 points or 1.32 per cent, at 5,976.70. A bigger than expected fall in earnings at leading US investment bank Goldman Sachs sparked a rout among investors across all sectors. Earlier in the day, more bad [...]
BP deal with Russia sparks controversy January 16, 2011 CONCERNS grew yesterday about the political implications of BP’s $16bn (£10bn) share swap with Russia’s state-owned oil firm Rosneft. Shadow justice minister Chris Bryant said in an interview that BP needs “a strong anti-corruption” strategy to work with the company. Labour leader Ed Miliband said he was “pretty worried” about the environmental aspect of the [...]
How a tax hike increased the deficit January 12, 2011 SLOWLY but surely, the real cost of the return to the politics of envy is becoming clear. Figures out last night confirmed yet again that crippling tax hikes are driving people and economic activity away from Britain. Rather than raising extra tax receipts to plug Britain’s budget deficit, there is growing evidence that the raids [...]
Make sure you aren’t paying too much: get your tax return right January 12, 2011 IT’S THAT time of year again. We all try to pretend it’s not happening, but the reminder adverts have been slapped across the tube billboards for weeks now. So, at some point over the next three weeks, we are going to have to sit down and fill out our tax return. Many say the misery [...]
Banks support FTSE amid broad-based gains January 11, 2011 LONDON’S FTSE made strong gains today as bank shares surged and sovereign debt fears receded. Athough stocks gave back some of the day’s earlier gains by the market close, the leading index closed closed up 57.73 points or one per cent at 6,014.03. It ended a three-day losing streak and stayed ahead of the 6,000 [...]
What the other papers say this morning January 10, 2011 FINANCIAL TIMES BUY-OUT GROUP GAINS CONTROL OF MADEJSKI’S LARGEST PROJECT Sir John Madejski, the property and publishing tycoon, has sold control over one of Britain’s largest commercial developments to a private equity consortium in the latest debt-driven property transaction. Benson Elliot, the private equity real estate firm, has teamed up with UK developer Stanhope to [...]
What the other papers say this morning January 9, 2011 FINANCIAL TIMES GOLDMAN TEAM RAISES MONEY FOR NEW FUND The last big proprietary trading team at Goldman Sachs has begun raising money to start a new hedge fund independent of the bank, for launch in the second quarter of this year. The team – led by two senior members of Goldman Sachs’ Principal Strategies desk, [...]
Key dates to watch in 2011 January 6, 2011 JANUARY is traditionally a month of self-imposed austerity and resolutions to do better. Despite a recovering economy, in an environment of high unemployment, rapidly rising prices and a less generous state, keeping one’s finances under better control ought to be topping many 2011 resolution lists. While the VAT rise will be foremost in all of [...]