Russia and the UK have lowest effective corporate tax rate May 9, 2016 Both Russia and the UK are two of the major global economies which try to tempt businesses with a favourable tax environment. They offer companies the lowest effective tax rates among the world's best economies, according to a study by accountancy firm UHY Hacker Young. Firms in Russia are obliged to pay business tax at 20 per cent, Bloomberg reported. Meanwhile, companies in [...]
Saudi Aramco raises oil prices into Asia in biggest hike for more than a year May 5, 2016 Saudi Aramco, the Saudi Arabian state-owned oil company, is hiking oil prices into Asia in the biggest rise for over a year. Aramco, which recently announced that a five per cent listing of its shares later this year would value it at around $2 trillion, said today it will raise its official selling price for benchmark Arab [...]
Slimmed down RSA Insurance is looking good May 5, 2016 RSA Insurance Group today reported operating profits rose in the first quarter of 2016, as the company's plans to slim down by disposing of overseas businesses starts to reach its final stages. Shares in the company were trading up two per cent at 478.7p shortly after 10am London time. [stockChart code="RSA" date="2016-05-05 10:16"] The figures Net written [...]
Mercedes deny claims of bias against Lewis Hamilton in bizarre open letter May 4, 2016 Mercedes have hit back at claims they have favoured Nico Rosberg over team-mate Lewis Hamilton this season with a bizarre open letter rebuking “haters, naysayers and conspirators”. Rosberg has won all four races so far this season while Britain’s Hamilton has seen the defence of his title undermined by a series of mechanical failures – [...]
Health insurance in the UK is about to become more costly, but it could be worse – you could be shopping for a policy in Russia May 3, 2016 The cost of health insurance in the UK is expected to experience its biggest jump for the last five years, according to a report out today. The research by Willis Towers Watson found that health insurance costs were expected to grow by 6.5 per cent in the UK in 2016, which is one of the [...]
The problem with Ukraine and Iraq isn’t Putin and Islamic State: It’s that both countries are basket cases May 3, 2016 “The gods help them that help themselves.” – Aesop When it comes to the seemingly intractable crises in both Ukraine and Iraq, a comforting, if wholly untrue, narrative has taken hold. The chaos that has laid low these two plucky, overmatched, but deserving states is entirely the fault of the world’s two most obvious Bond [...]
Oil falls back from 2016 highs as Opec ramps up production in April May 2, 2016 Global oil prices lost ground today after data from the Organization of the Petroleum Exporting Countries (Opec) showed production continued to climb. At the end of last week oil closed its biggest monthly gain in seven years as the weak dollar and falling US production helped offset concerns. Opec data, seen by Reuters, revealed that in [...]
May Day 2016: Protestors tear gassed in Istanbul while Jeremy Corbyn condemns anti-Semitism May 1, 2016 May Day protestors in Istanbul have been tear gassed as they marched to campaign for workers' rights. Turkish police fired tear gas at the protestors in the Turkish capital, as well as deploying water cannon, according to Agence France-Presse. The protest in Istanbul is part of a global movement to mark International Workers' Day. In [...]
Discgraced former banker Elena Kotova has been ordered to hand over her Mayfair flat April 28, 2016 A former high profile Russian banker has been ordered by the court to hand over her swish flat in Mayfair to the National Crime Agency (NCA). Elena Kotova, who was an executive director of the European Bank of Reconstruction and development (EBRD), was charged with bribery by Russian authorities in 2013, alleging that she solicited more than [...]
Aggreko puts brave face on as first quarter revenues slide April 28, 2016 Aggreko has insisted full year figures will come in as forecast, despite a double-digit drop in revenues during the first quarter. The figures Underlying revenue for the three months to 27 April was 14 per cent behind last year, with reported revenue down 17 per cent, the temporary power provider said. Revenues in its rental solutions arm fell nine per cent [...]