Fears on China and Greece hit US share prices – New York Report July 6, 2015 AVOLATILE session saw stocks falling after China implemented emergency measures to stop a selloff in Shanghai’s market and Greeks resoundingly backed their government in rejecting the austerity terms of a bailout. Equity futures tumbled at the open late on Sunday after Greeks voted “No” to the terms imposed by its creditors. The Dow Jones industrial [...]
George Osborne needs a long-term plan for taxation July 6, 2015 “Don’t tinker with taxes” is a consistent cry from business. True, few will bemoan a change that benefits them, but it’s hard to overestimate how much firms value certainty in their tax affairs. It’s difficult to plan ahead if you don’t know what your costs are likely to be. Yet we now effectively have two [...]
US stocks close lower amid Greek debt crisis July 6, 2015 United States stocks closed lower today, however they clawed back some of the sharp losses seen at the open, after European and Asian markets which shook off the fallout from the Greek debt crisis earlier in the day. The Dow Jones Industrial Average ended the day down 46.53 points, or 0.26 per cent, to just [...]
Insurers’ rugby sponsorship puts a premium on giving staff kicks July 6, 2015 Admiral’s deal with Welsh Rugby Union breaks mould by putting employees first A recurring theme for the businesses sponsoring teams at this year’s Rugby World Cup is the increased exposure their brand can expect to receive from the international tournament. Yet directors at car insurance specialist Admiral will be just as concerned with [...]
Aetna to buy rival Humana for $37bn in a cash and shares deal July 3, 2015 The US health insurer Aetna has struck a deal to buy its rival Humana for $37bn (£23.7bn) in cash and shares, which Aetna says will create the second-largest managed care company in the US. Aetna will acquire outstanding shares of Humana at around $230 per share, according to a joint statement by the two companies. [...]
RBS share price falls as it could face $13bn penalty over mortgage-backed securities July 3, 2015 Royal Bank of Scotland has been told it could face a $13bn (£8.3bn) bill over its behaviour before the 2008 crisis, causing shares to fall 2.1 per cent in mid-morning trading. The 79 per cent taxpayer-owned bank is involved in a long running case in a Connecticut court over how it packaged mortgage bonds and [...]
City Moves for 3 July 2015 | Who’s switching jobs July 2, 2015 Deloitte Real Estate The real estate firm has appointed Claire O’Shaughnessy as a director in real estate consulting, focusing on the public sector. She previously led the development of the footprint strategy in the strategic business partner team for the Ministry of Defence. Allianz Global Investors Iain Cowell has been appointed head of solutions for [...]
George Osborne’s challenge: Will he make his mark as a tax reformer? July 2, 2015 Next week’s Budget is a big opportunity for George Osborne – now he’s able to shape public spending and tax policy free of the constraints of coalition politics. One of his Budget themes should be tax reform. In the 70 years since the end of the Second World War, there have been 22 chancellors of [...]
Fracking could cut house prices by up to seven per cent July 2, 2015 Fracking could cut nearby house prices by up to seven per cent and increase the cost of insuring a home, according to previously redacted sections of a government report released yesterday. The Shale Gas Rural Economy Impacts by the Department for Environment, Food and Rural Affairs (Defra) looked at the impact of fracking operations on [...]
George Osborne under pressure to tweak bank levy in July Budget July 1, 2015 Self-fulfilling prophecy, wishful thinking, fantasy economics: call it what you will, but the prospect of George Osborne fulfilling the desires of Britain’s banks in next week’s Budget is, to say the least, remote. Misplaced expectations that the chancellor would announce a review – or even the abolition – of the bank levy in his [...]