Bermudian government reacts with fury as Oxfam report names it world’s worst tax haven December 12, 2016 The Bermudian government has reacted with fury to an Oxfam report that places it at the top of a list of global tax havens. The Oxfam list ranks the countries by how far it judges them to “facilitate the most extreme forms of tax dodging”, including low corporation tax rates and non-cooperation with tax avoidance [...]
Central London take ups surge on the back of a number of large deals, CBRE finds December 11, 2016 Central London office take-up in November 2016 rose to 1m sq ft, representing a monthly increase of 118 per cent and bringing take-up in line with the 10-year monthly average, according to the latest figures from real estate consultants CBRE. Take-up in November 2016 was boosted by a number of large deals. A total of [...]
At the close: FTSE 100 boosted by late Sky surge on 21st Century Fox takeover bid December 9, 2016 The FTSE ended the week looking very healthy indeed – its best week since July. It was up 22.66 points to 6,954.21 bolstered by a Sky surge. US media firm 21st Century Fox tabling a takeover bid for Sky of £10.75 per share in cash, prompted shares to rise sharply. Sky’s share price shot up [...]
Uber treats drivers like Victorian “sweated labour”, says Frank Field in gig economy report December 9, 2016 Frank Field might be more commonly known as one of the thorns in Sir Philip Green's side, but Uber might now have a bone to pick with him too. The Labour MP and chair of the Work and Pensions Committee has uploaded a report to his site analysing the working relationship between Uber and its drivers, [...]
An overwhelming number of responses to the FCA’s latest PPI consultation slows down the process December 9, 2016 The UK's financial regulator said it needs more time to finalise a deadline for payment protection insurance (PPI) complaints. The Financial Conduct Authority (FCA) published a consultation paper in August. It included a timetable for making a decision on the deadline for PPI complaints as well as providing more guidance on how City firms should [...]
Britain must look beyond trade deals to turbocharge exports December 9, 2016 In 1860, the Cobden-Chevalier Treaty, widely regarded as the first international trade agreement, was signed at the Foreign Office. French duties on British manufactured goods were slashed and, in return, British duties on French wine and brandy were cut, ushering in three decades of expanding trade – and, presumably, considerable joie de vivre in Britain’s [...]
US jobless claims fall as last US jobs data before Fed meeting supports rate rise case December 8, 2016 Claims by Americans for unemployment benefits fell this week, adding to the weight of positive economic data in the last jobs release ahead of next week’s update on monetary policy by the US Federal Reserve. The number of initial jobless claims fell by 10,000 to 258,000, marking the longest streak of claims below 300,000 since [...]
Bank shares and stress tests: the value investor’s verdict December 8, 2016 The Bank of England’s latest stress tests of the UK banking system attracted many column inches of space in the newspapers last week. The aim was to calculate whether these institutions would have enough capital to withstand certain grim scenarios. Moving away from some of the inflammatory headlines, it is worth looking in more [...]
Bank shares and stress tests: the value investor’s verdict December 8, 2016 The Bank of England’s latest stress tests of the UK banking system attracted many column inches of space in the newspapers last week. The aim was to calculate whether these institutions would have enough capital to withstand certain grim scenarios. Moving away from some of the inflammatory headlines, it is worth looking in more detail [...]
Trading platforms must bet on a stable outcome December 8, 2016 Spreadbetters experienced the most modest of recoveries yesterday, with shares in IG Group gaining nearly six per cent, Plus500 climbing around three per cent and CMC Markets edging up just 1.3 per cent. Investors, given 24-hours to reflect on the previous day’s bloodbath, clearly did not find reason to significantly alter their view of the [...]