‘Can’t come soon enough’: Will Sunak follow through on 2p tax cut reports? June 4, 2023 Rishi Sunak’s mooted plans to reduce the tax burden from a seven-decade high with a 2p cut in income tax ahead of the next election have been welcomed by Tory campaigners. Reports surfaced in the Sunday Telegraph that the PM – an ex-City banker – is keen to cut charges in order to incentivise work [...]
E-bikes and scooters could disappear from UK without Government action, warns industry June 4, 2023 Delays to legislation covering electric bikes and scooters is preventing manufacturers from expanding in the UK, and could even see them leave the British market altogether if new rules aren't passed soon, the government has been warned.
Simply Be and Jacamo owner hopes for a rebound after bumpy few months June 4, 2023 Investors in online retailer N Brown will be looking for signs of recovery in its full year results this week after the firm paid out a hefty legal settlement and has struggled amid a broader slowdown in consumer spending. N Brown, which owns brands such as Simply Be and Jacamo, reported a 7.6 per cent [...]
Cost of insurance against UK debt default has more than doubled over last year June 2, 2023 The cost of insuring the UK’s debt against default has more than doubled in the past year, as rising rates, increased borrowing and a deteriorating economic environment spooked investors. According to exclusive data from reinsurance firm Chaucer, the cost of a credit default swap (CDS) on the UK’s debt has increased 131 per cent. A [...]
Amazon taxes: Retailer moves into top-15 of UK taxpayers June 1, 2023 Online giant Amazon has revealed it paid £781 million in direct taxes last year, a jump of more than £130 million from the prior year, as it continued its rapid expansion across the nation. The global marketplace and technology firm said it invested more and generated higher revenues over 2022. With a workforce of 75,000 [...]
FTSE 100 close: Softening China economy hits London index as WH Smith and B&M soar May 31, 2023 London’s FTSE 100 was dragged lower today by softer than expected data from China signalling the world’s second largest economy is on the wane. The capital’s premier index slid 0.98 per cent to 7,448.01 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.45 [...]
Prudential’s CFO leaves after ‘falling short of standards’ but insurer gives few details May 31, 2023 Prudential Plc said on Wednesday its chief financial officer, James Turner, would leave the company after a code of conduct investigation into a recent recruitment showed he had fallen short of its standards. Turner, who has been with the Asia-focused company for 12 years before resigning, will stay on for four months to support a transition [...]
Former Pru CEO and board veteran Jonathan Bloomer to become chair of Hiscox May 30, 2023 Jonathan Bloomer, the current chair of Morgan Stanley International and law firm DWF, will add the top boardroom chair at Hiscox to his portfolio next month. Hiscox, the Bermuda-headquartered insurance giant, announced Bloomer’s appointment as chair designate this morning. He will replace Robert Childs, who will retire over the summer. Bloomer was a partner at [...]
What is the cost of relegation from the Premier League? May 27, 2023 The cost of relegation from the Premier League has been called “the biggest financial jeopardy in world football” and this weekend Everton, Leicester City and Leeds United will be locked in a battle to avoid it. Two of those three teams will drop out of the richest domestic competition in the sport and into the [...]
Lloyd’s of London targeted by eco activists with smoke flares and setting off fire alarms May 25, 2023 Smoke engulfed the entrance to insurance hub Lloyd’s of London today as eco protestors set off fire alarms to disrupt activity over of its alleged links to the fossil fuel industry.