Labour calls on UK to back Biden’s global corporate tax overhaul May 23, 2021 Boris Johnson must back US plans for a global minimum corporate tax rate to target tax avoidance, the Labour Party has warned. The Biden administration set out a tax regime overhaul last month, proposing a new tax based on sales in each country to the global profits of large corporations, regardless of their physical presence [...]
Beyond Pret sandwich sales, how do we measure the recovery of London? May 23, 2021 After more than a year of lockdown restrictions, words like “recovery” are thick in the air. Indeed, the Bank of England is forecasting annual growth of 7.25 per cent, the fastest rate since 1941; positive news, but it is not the most digestible statistic for much of Britain’s population. The most important benchmarks are ones [...]
Saturday Sitdown: Public media played key role during Covid, says STV boss May 22, 2021 The UK’s public service broadcasters played a vital role during the Covid-19 pandemic and should be protected, the chief executive of STV has said. In an interview with City A.M., Simon Pitts threw his weight behind traditional TV channels, insisting they were still relevant despite the rise of streaming heavyweights such as Netflix. “I don’t [...]
Exclusive: SPACs on LSE will power ‘IPO bonanza’ in London, says Silicon Valley Bank dealmaker May 22, 2021 To make the UK a more attractive place for investors, the government plans to allow Special Purpose Acquisition Companies (SPACs) to list in London and ease a range of share listing restrictions at the LSE, Jonathan Hill’s report. Hill’s report into future financial services regulation calls for a range of deregulatory measures that aim to “ensure [...]
BBC: Boris Johnson ‘very concerned’ about Princess Diana interview scandal May 21, 2021 Prime Minister Boris Johnson today waded into the row over the BBC’s infamous interview with Princess Diana, saying he was “obviously very concerned” about the findings of a new report. The damning report by Lord Dyson, published yesterday, found the broadcaster had covered up the “deceitful” tactics used by reporter Martin Bashir in securing the [...]
Greater London has highest levels of pollution, with Portsmouth ranked best May 21, 2021 Greater London has the worst levels of air pollution, according to Defra’s Daily Air Quality Index, which is set to rise as lockdown restrictions ease and the capital renews itself as a tourism hub. The capital has been ranked a score of 2.84 on the index. While the average score for the UK’s urban areas [...]
Rishi Sunak must stop dragging his heels and seize a once-in-a-lifetime chance to fix global corporate tax May 21, 2021 Anger at the never ending stories of global corporations dodging tax is set to hit boiling point. Barely a day goes by without a fresh tale of a big multinational paying ultra-low rates of tax. Even after a year of record sales during the pandemic, Amazon Europe did not pay any corporation tax on the [...]
Single-use plastic bag charge to double, with all shops adopting the tariff May 21, 2021 The extra charge for single-use plastic bags is set to double today, as the charge extends to all businesses in Britain. What was a 5p charge for a single-use carrier bag yesterday, will be 10p from today – and comes as pent-up demand pushes shoppers back to high streets. While it used to be only [...]
Tim Cook to take the stand in Apple’s Fortnite ‘monopoly’ battle May 21, 2021 Apple boss Tim Cook will take the stand today to defend his company against allegations of monopoly power as part of a high-profile legal battle with Fortnite maker Epic Games. The iPhone chief is expected to spend more than two hours fighting back against claims Apple abuses its market power through its App Store. Epic [...]
BoE eyes a climate-conscious corporate bond purchase scheme May 21, 2021 The Bank of England (BoE) has tabled plans to make its £20bn of corporate bonds better aligned with government net zero targets today. Set to begin later this year, the bank will not immediately sell off bonds issued by businesses that have high carbon emissions, such as energy and oil firms. “Divestment is a powerful [...]