DEBATE: Is it time to reform the civil service, as Dominic Cummings intends? December 19, 2019 Is it time for a full restructuring of the civil service, as Dominic Cummings intends? YES, says Duncan Simpson, research director at the TaxPayers’ Alliance. The “Rolls Royce” reputation of the civil service has long been in question. From hugely overpriced procurements in defence and transport, to overly-anxious advice on EU exit negotiations, the supposed [...]
Centamin says Endeavour is stalling in mining merger talks December 18, 2019 Canadian mining corporation Endeavour is refusing to share vital information regarding its value with takeover target Centamin unless it is given an extension to a deadline for making an offer. A statement from London-listed Centamin said that despite an agreement to exchange due diligence information, “Endeavour has now indicated that it will not provide the [...]
Watchdog blasts British American Tobacco’s Lily Allen Instagram vaping posts December 18, 2019 British American Tobacco (BAT) is one of four vaping companies to have their Instagram posts banned by the Advertising Standards Authority (ASA). The posts saw celebrities like Lily Allen promoting e-cigarettes, something that is banned on social media. Read more: Watchdog puts BAT in sights as it weighs clampdown on e-cigs Posts including BAT nicotine [...]
Shell paid no corporate income tax in the UK in 2018 December 18, 2019 Oil supermajor Royal Dutch Shell has revealed that it paid no corporate income tax in the UK in 2018, despite earning $731m (£557m) in profit. Instead, the Anglo-Dutch giant took nearly $115m in tax rebates related to the decommissioning of North Sea oil platforms. Read more: Mitsubishi beats Shell to purchase of Dutch energy supplier [...]
Brydon review finds UK audit industry in need of ‘urgent reform’ December 18, 2019 The UK’s audit industry is in need of “urgent reform”, according to the findings of a year-long review into the sector. The review, which was led by Sir Donald Brydon, a former chair of the London Stock Exchange Group, calls for the creation of “a standalone and transparent audit profession” split off from the accounting [...]
Wolseley appoints interim chief executive ahead of Ferguson spin off December 18, 2019 Ferguson has named Simon Oakland as interim chief executive of Wolseley to replace current boss Mark Higson, as the group continues preparations to spin off Wolseley next year. Higson is stepping down at the end of January to become chief executive of building services company Algeco, and Ferguson has begun a search for a permanent [...]
City Moves for 18 December – Who’s switching jobs at Tritax, Wiredscore and Emporia Telecom? December 18, 2019 Today’s City Moves includes Tritax, Wiredscore and Emporia Telecom. Tritax Property investment fund manager Tritax has appointed Helen Drury as sustainability lead. Helen will be responsible for leading and further developing the sustainability strategy and performance, as well as driving its integration and implementation across the company. Her work will support not only the existing [...]
Charity begins at work: How Payroll Giving can create a giving culture in your company December 17, 2019 If you’re looking for a quick corporate social responsibility boost and develop a giving culture in your organisation, Payroll Giving could be the answer. Company values have never been more important According to KPMG International, more than 60 per cent of millennials expect their employers to contribute to a social cause. With around 12m millennials [...]
Bojo issues snow-go order after banning ministers from Davos December 17, 2019 BORIS Johnson has taken the surprise step of boycotting Davos next year, banning his ministers from attending the annual World Economic Forum jamboree. Buoyed by his thumping new majority in Parliament, the Prime Minister has decided to turn his back on the Swiss resort, which has become the premier networking event on the global calendar for the [...]
European dealmakers top global M&A rankings for second consecutive year December 17, 2019 Europe was the only region to enjoy a positive M&A performance in 2019 amid a global downturn that will continue into 2020, according to new analysis. European dealmakers marginally outperformed their regional index by 0.6 percentage points over the last year despite a poor performance from UK buyers, according to research by insurer Willis Towers [...]