Be discerning about Europe’s banking sector June 13, 2010 THE last two years have been cataclysmic for the global banking sector. Yet most banks managed to stay afloat during the financial crisis and have returned to profitability this year. And after the wave of volatility that hit the markets in recent weeks, banking stocks are beginning to look cheap. But should investors be buying [...]
QCA backs CGT campaign June 10, 2010 THE QUOTED Companies Alliance, the body representing small and mid-cap listed firms in the UK, has thrown its backing behind City A.M.’s campaign against the government’s proposed hikes to capital gains tax (CGT). Tim Ward, the QCA’s chief executive, said alterations to the proposals was the “number one priority” for his organisation, which has argued [...]
Jon Moulton’s Better Capital will raise £67m in LSE listing June 10, 2010 JON Moulton’s Better Capital will raise £67m as it steps up to the main London Stock Exchange market, just six months after listing on Aim. The group hopes to attract more investors attracted by the stricter regulatory stipulations in place for main market-listed firms. It will issue 64.3m new shares at 105p each – a [...]
Watch your kids and their nest eggs grow June 10, 2010 CHILDREN are expensive but they could be about to get even costlier. Yesterday, universities minister David Willetts strongly indicated that university tuition fees will have to rise from their current level of £3,225 a year to reduce the burden on the taxpayer. Those saving to help their children or grandchildren through university will now have [...]
CBI: Cuts must bear down on public sector June 9, 2010 BRITAIN’S huge deficit should be tackled with £4 in spending cuts for every £1 in tax hikes, the CBI said. In a letter to Chancellor George Osborne yesterday ahead of the emergency Budget on 22 June, the CBI warned that the public finances should be repaired without damaging growth prospects. It called for a shake-up [...]
Osborne hints at truly radical change June 8, 2010 IT was not exactly the most convincing of public relation stunts – and predictably enough, George Osborne’s pledge yesterday to engage the public in consultations on the upcoming spending review in a way which would “strengthen and unite” the country was met with some derision. It is hard to imagine that anybody who works in [...]
Stockbroking chiefs back CGT campaign June 8, 2010 THE CHIEFTAINS of some of the City’s most successful independent stockbrokers have thrown their support behind City A.M.’s campaign against the coalition government’s proposed hikes to capital gains tax (CGT). Yesterday, Charles Stanley chairman and ex-Lord Mayor of London Sir David Howard said he applauded the campaign, claiming that it would be an “astonishing” move [...]
London dealers struggle to meet gold coin demand June 8, 2010 LONDON bullion dealers are struggling to source enough gold sovereign and Britannia coins to keep up with surging demand ahead of an expected hike in capital gains tax (CGT) in the new government’s emergency budget on 22 June. Dealers are reporting a backlog of orders for bullion coins recognised as UK legal tender, which are [...]
Why the IoD backs City A.M.’s CGT campaign June 7, 2010 THE Institute of Directors (IoD) is against any proposal which raises Capital Gains Tax (CGT) to income tax levels and is delighted to support CityA.M.’s campaign. Our reasons are straightforward. Like City A.M. we believe the proposal would hit thousands of ordinary employees and investors vital to business investment and economic growth. Of course, ideally [...]
Vodafone appeals again over capital gains tax on its Indian acquisition June 7, 2010 BRITISH mobile phone operator Vodafone yesterday filed an appeal against the Indian tax department’s latest court order over its purchase of a local mobile phone company. Vodafone bought a majority stake in Hutchison Essar for $11.2bn (£7.7bn) in 2007. It contends that the sale did not take place on Indian soil, as it acquired the [...]