Boris says Starbucks must do more for UK November 18, 2012 BORIS Johnson has said that multinational firms like Starbucks, who have not paid much UK corporation tax in recent years, need to do more for UK society or change their tax arrangements. Speaking to City A.M. ahead of his speech at the Confederation of British Industry’s (CBI) annual conference today, the Mayor of London said: [...]
Jaguar Land Rover strikes £1bn China deal November 18, 2012 ICONIC British car maker Jaguar Land Rover yesterday said it will start making cars in China for the first time after striking a deal with Chery Automobile Company for a new factory near Shanghai. The two firms will build the factory in Changshu, in the province of Jiangsu, at a cost of 10.9bn renminbi (£1bn), [...]
What the other papers say this morning November 15, 2012 FINANCIAL TIMES France Telecom open to EE listing France Telecom has opened the door for a flotation next year of EE, the UK’s largest mobile phone group by customer numbers that it owns with Deutsche Telekom. Gervais Pellissier, deputy chief of France Telecom, said that there “could be some space at the end of next [...]
Three says no thanks to 4G as customers rise November 15, 2012 THE UK’S fourth-largest mobile operator, Three, signed up a million extra customers in the last year, putting a dent in its rivals’ numbers. Announcing the figures yesterday, Three outlined a plan to bolster its current network rather than focus on the 4G technology that others are pursuing. This raises the possibility that a January auction [...]
Retailers slam tax on crockery from China November 15, 2012 AN EU tax on imports of Chinese crockery has been condemned by retailers as pointless and harmful to the poor. The European Commission yesterday announced the tax in response to claims by an anonymous EU manufacturer that Chinese producers are pushing their products onto the European market at artificially low prices. The taxes will add [...]
World gold demand slides on slowdown in Chinese economy November 15, 2012 GLOBAL gold demand dropped 11 per cent in the three months to September from record levels seen in the same period last year, dampened mainly by fading Chinese fervour as its economy slowed, with stronger Indian demand stemming a larger fall, the World Gold Council said yesterday. Chinese gold consumption fell eight per cent in [...]
Revenue jumps at Lonrho November 13, 2012 Revenue at African conglomerate Lonrho jumped 14.4 per cent to £43.6m in the third quarter, up from £38m over the same period last year. Export demand from Europe was weaker over the period, but was offset by stronger volumes to the US, ASEAN and Chinese markets. The agribusiness division contributed 65 per cent of the [...]
Rusal drops to a loss on weak metal outlook November 12, 2012 ALUMINIUM producer Rusal made a net loss of $118m (£74.3m) over the three months to September, against a profit of $432m a year earlier, as it eyed a rebound in consumption of the metal in the fourth quarter. Revenue came in at $2.56bn during the quarter, down from $3.16bn over the same period in 2011, [...]
US stocks flat ahead of policy debate on tax November 12, 2012 US stocks ended little changed after a lightly traded session yesterday as investors hedged bets before a policy debate aimed at heading off US tax hikes and spending cuts early next year. Firmer economic data from China and delays to an installment of Greek aid also were trading day topics. News that Chinese exports rose [...]
The Tipster | Miner to hit a rock November 12, 2012 SHAREHOLDERS in copper miner Antofagasta have had a mixed year, with the current rally hitting a solid rock around the £13.50 mark. Although production updates point to continued progress, doubts still persist whether the company can meet its full-year target. A slowing Chinese economy continues to cast a long shadow over the share price. IG [...]