Business secretary Sajid Javid lays out measures to cut red tape by £10bn March 3, 2016 New comprehensive measures to help meet the government's commitment of cutting a further £10bn of red tape were announced today by business secretary Sajid Javid. While the UK already has the lowest burden of regulation in the G7 nations, according to the World Economic Forum, businesses across the country have been demanding more. Speaking at [...]
Gala Coral earnings and revenue up, but Ladbrokes shares dip ahead of proposed bookmaker merger March 3, 2016 Gala Coral reported increases in revenue and earnings this morning ahead of its proposed merger with Ladbrokes. The results The bookmaker reported net revenue of £333.3m in the 16 weeks ending 16 January. This was up £47.1m, or 16 per cent, year on year. And, with growth in its retail divisions and online, it recorded earnings before [...]
Financial Conduct Authority to publish scorecards for general insurance products March 1, 2016 The Financial Conduct Authority (FCA) is to start publishing “scorecards” rating a small number of general insurance products. The watchdog said it will collect data from companies and present it in “an easily accessible format” on its website. “We believe that publishing a range of information will help to boost competition between firms, encouraging them [...]
IoD: UK broadband ambition needs to be “a thousand times” higher February 29, 2016 The Government stood today accused by business leaders of a “poverty of ambition” when it came to UK broadband speeds. The Institute of Directors (IoD) also called for a new target for households and business to have access to speeds of 10 gigabits per second (Gbps) by 2030, 1,000 times faster than the current official [...]
How to save when buying or selling property overseas February 25, 2016 Sterling has had a tough start to the year against key major currencies like the dollar and the euro. And there is talk of it weakening further as 2016 progresses.For anybody buying property abroad this is unlikely to be good news. So the question is, can you do anything to protect yourself? Some economic commentators [...]
Save money on international transfers February 25, 2016 Stock markets have provided an interesting if not slightly stormy narrative to the beginning of 2016, and many City commentators are forecasting more of the volatility that was so prevalent during last year. If this proves to be the case currency markets are likely to be a bit choppy too. Sterling weakness Just like stock [...]
Ladbrokes share price jumps as it beats expectations – but new gambling and point-of-consumption taxes take their toll February 23, 2016 Not a great day for Ladbrokes, after it reported a 50 per cent fall in profits for 2015 as increased taxes began to have an impact. The figures Ladbrokes said trading profits fell 50.3 per cent, from £112.2m last year to £55.8m in 2015. That's above analyst expectations – last week Deutsche Bank said it expected profits to fall to £44m. [...]
Is former No 10 tech guru Rohan Silva right that competition authorities should investigate Amazon’s book market dominance? February 23, 2016 Alex Krasodomski-Jones, digital researcher at Demos, says Yes. Amazon’s continuing dominance of the book market is problematic for both industry standards and for anybody who believes in the power of books to challenge and educate us. First, its dominance ensures that its working conditions and management style remain unchallenged. But its dominance costs us too. You [...]
Ladbrokes and William Hill set to reveal the impact of new taxes on gambling firms February 21, 2016 Ladbrokes and William Hill are set to disclose the impact of new taxes targeted at the gambling industry this week, when Britain’s biggest bookies announce full year results. Ladbrokes is forecast to post a dramatic fall in pre-tax profit, from £112m to £44m, according to analysts at Deutsche Bank. The dismal numbers are being linked [...]
Telecommunications giant BT expected to avoid being broken up from Openreach, in verdict due this Thursday February 21, 2016 BT is expected to avoid having its infrastructure arm Openreach carved out this week, following months of campaigning for a split by the company’s rivals. City A.M. understands the decision will be announced on Thursday in Ofcom’s Digital Communications Review, though will reportedly include requirements for minimum-service standards between Openreach and BT’s rivals Vodafone, Sky, and [...]