Japanese tax received coolly December 14, 2010 Japan’s plan to boost its ailing economy by cutting corporate taxes got a guarded welcome from business yesterday, but is unlikely to help restore the fortunes of unpopular Prime Minister Naoto Kan. Kan gave orders on Monday for a five percentage point cut in the tax rate from the year starting next April, despite the [...]
London misses rates ballot December 14, 2010 RETAILERS across the UK will be balloted on whether they want to pay extra on their business rates to help bankroll local projects – but London has missed out because a rate has already been imposed. The government – under pressure from the British Retail Consortium (BRC) – has made it a legal requirement for rate-setting local [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 12, 2010 FINANCIAL TIMES CREDIT SUISSE TO ISSUE COCOS EARLY Credit Suisse’s chief executive said he hoped to begin issuing billions of dollars in contingent-capital bonds in the next year to help shore up the bank’s financial strength well ahead of new Swiss regulations. Brady Dougan also defended Credit Suisse’s decision to award one-off payments to about [...]
AT A GLANCE: FINANCE BILL December 9, 2010 PENSIONS – The existing effective obligation for members of a defined contribution pension scheme to purchase an annuity by age 75 is to be abolished, creating an increased flexibility. – In order to ensure that increased flexibility doesn’t lead to pension funds being exhausted with the recipients being forced to fall back on support from [...]
Fall in mining shares takes its toll as FTSE 100 closes lower December 8, 2010 WEAKNESS in heavyweight miners dragged the leading share index lower yesterday, although firmer banks, energy issues and some takeover speculation helped limit the falls. At the close, the FTSE 100 was down 13.92 points or 0.2 per cent at 5,794.53, having hit a three-week high on Tuesday. “It has been a choppy trading session today [...]
Public sector must do more with less December 7, 2010 AN intriguing book has just dropped onto my desk (and no, I’m not referring to Gordon Brown’s massive self-justificatory opus, which I shall ignore for as long as possible). Called More with Less, it summarises the findings of one of the largest independent studies into public sector performance in the UK to date, conducted by [...]
Retailers and commodities push FTSE to three-week high December 7, 2010 Britain’s top shares closed at their highest level in over three weeks yesterday, lifted by commodity makers and retailers as equities remained the preferred asset class among investors despite macro concerns. The FTSE 100 ended up 38.17 points, or 0.7 per cent, at 5,808.45, having closed 0.4 per cent higher on Monday and 7.3 per [...]
More insider trade talk hits markets December 7, 2010 US stocks eked out a small gain yesterday as investors’ enthusiasm over a tax cut extension deal was short-circuited by rising bond yields and reports regulators were stepping up an insider-trading probe. The S&P 500 hit a two-year intraday high after US President Barack Obama cut a deal with Republicans to renew Bush-era tax cuts. [...]
Obama’s tax deal could boost US economy December 7, 2010 A TAX deal struck between the Obama administration and Republican lawmakers could lift 2011 growth by as much as a full percentage point by leaving more money in consumers’ pockets. Economists say the plan should help breath new life into the sluggish recovery, though it will only add to the already bloated budget deficit. The [...]
US is about to shoot itself in the foot December 6, 2010 IT is not just Britain and Europe that are shooting themselves in the foot with stupid, job and wealth-destroying policies. The same is true of America, where investors, entrepreneurs and business leaders face the threat of a wave of new taxes. This ought to matter to everybody who works in London, because the health of [...]