Apple’s two UK divisions pay just £9m in UK corporation tax as sales top £1.1bn July 12, 2021 Apple paid just £9m in tax in the UK last year even as the tech giant weathered the pandemic to pull in sales of more than £1.1bn. In recently filed accounts the iPhone maker’s two UK subsidiaries — Apple Retail UK and Apple UK — posted revenue of £1.1bn and £372m respectively in 2020. Pre-tax [...]
Finally ending Covid-19 restrictions in the UK will be a new dawn for business July 12, 2021 Last week the Prime Minister outlined the Government’s long-awaited plans to ease social and economic COVID-19 restrictions in England. July 19 is the expected date, with a final decision to be taken today. If the PM goes ahead, this would be a new dawn and the first step towards returning the Square Mile to the [...]
How to build an ethical business July 12, 2021 The demand for businesses to be ethical is rising. But how can companies ensure that sustainability does not come at the cost of financial stability? Christian Koch investigates. This article was written before the coronavirus pandemic had escalated in the UK, Europe and the USA and first appears in the April 2020 issue of CA magazine. [...]
British businesses sell-off assets to offset Covid debt stress July 12, 2021 British businesses are sharpening their focus on longer term plans by disposing of non-essential assets at a rapid pace to offset debt taken on during the Covid pandemic, according to new figures published today. The value of carve-out deals by UK firms surged 182 per cent over the last year to £30.8bn, up from £10.9bn [...]
UK finance chiefs gear up for post-pandemic spending boom July 12, 2021 Spending by UK businesses is set to surge in the coming months as finance directors prepare for a sharp increase in hiring and investment, according to a new survey. Almost three-quarters of chief financial officers expect rises in capital expenditure, while 76 per cent forecast increases in hiring in the year ahead. Expectations for both [...]
Yellen: Global corporate tax reform unlikely until 2022 July 11, 2021 US Treasury secretary Janet Yellen has warned that recently-agreed reforms to corporate tax rules that will ensure major companies pay tax in more countries may not be ready until next year. Speaking after a G20 finance leaders meeting in Venice today, Yellen said the OECD’s re-allocation of taxing rights was on a “slightly slower track” [...]
Taxpayer to cough up £35m for West Ham stadium revamp July 11, 2021 British taxpayers will be handed a £35m bill for a planned revamp of West Ham United football club’s stadium in east London. The government will fork out £14.5m of public money for fresh seating at the state-owned London Stadium as West Ham redevelops the west stand to bring fans closer to the pitch. A further [...]
Tees Valley mayor lines up £1bn bid for Britain’s largest freeport July 11, 2021 Tees Valley mayor Ben Houchen is said to be preparing a £1bn bid to take over Britain’s largest freeport in what could bring a major boost to the area. Canadian fund manager Brookfield has restarted the sale of PD Ports, which owns the huge Teesport gateway in North Yorkshire, after the process was halted due [...]
Collective: Feeling the benefit of the gig economy growing up July 10, 2021 Back in the halcyon days of the mid-2010s – a world before Brexit buses and a global pandemic – it was easy to find cheerleaders for the gig-ification of the capital’s employment scene. Uber and others were redefining work. Londoners were whizzing around in cheap cabs. Politicians were falling over themselves to champion the free-market [...]
Biden to sign executive order cracking down on Big Tech July 9, 2021 US President Joe Biden will today sign an executive order aimed at clamping down on anti-competitive behaviour in Big Tech and across a host of other sectors. In a sweeping set of reforms, the president will call on more than a dozen agencies to undertake 72 initiatives aimed at promoting competition across the US economy. [...]