Chote promises fiscal forecaster will be independent after Budd controversy September 16, 2010 ROBERT Chote, the new chair of the Office for Budget Responsibility (OBR), yesterday said he would not rush out data to provide political ammunition for the government, in a thinly-veiled criticism of his predecessor Sir Alan Budd. Chote insisted that the OBR would be “transparent and predictable” in the future, adding “that means predictability about [...]
IMPACT OF VAT September 16, 2010 Q.As a small business-owner, what do I need to know about the VAT increase? A.The standard rate of VAT is 17.5 per cent at the moment but this will be rising to 20 per cent in three months time. If you are a business that issues VAT invoices, then you must use the 20 per [...]
Profit jumps by 78pc at Brooks Macdonald September 15, 2010 WEALTH manager Brooks Macdonald posted a 78 per cent jump in pre-tax profit for the year yesterday, prompting the Aim-listed firm to hike its dividend by 64 per cent to 9p. Brooks generated £35.1m in revenue in the year to 30 June, it said yesterday, and made a profit of £5.68m before tax. Its funds [...]
The airline boss with a hit list of 12 bid targets in his desk drawer September 13, 2010 It is clear that British Airways (BA) chief executive Willie Walsh always likes to keep his foot hard on the pedal. The Dublin-born airline boss is in the middle of a bitter 18-month dispute with his cabin crew, and only a few weeks ago received US and European regulatory clearance to pursue a transatlantic tie-up [...]
West Coast move for UMG boss Grainge September 12, 2010 LUCIAN Grainge, the newly-ensconced chief executive of Universal Music Group who went out to the US a couple of months ago to take up his new post, has based himself in California. He had originally planned to be based – with his wife and children – in New York before changing plans. Grainge’s move marks [...]
COMPANY OF THE YEAR | The Shortlist September 12, 2010 IT has been another tough year for business. The sovereign debt crisis rocked already shaky market confidence, while uncertainty has kept consumers from splashing out. It is in hard times that reputations are made, though, and over the past year the best have bounced back. Both retailers on our list have, in their different ways, [...]
Burger King chief named September 9, 2010 3G CAPITAL said yesterday it plans to name Bernardo Hees chief executive of Burger King Holdings when it closes its $3.26bn (£2.11bn) purchase of the world’s second-largest hamburger chain later this year. Hees, who joined the US private equity firm as a partner in July, was most recently boss of America Latina Logistica, Latin America’s [...]
Thorntons is hit by a fresh drop in profit September 8, 2010 CHOCOLATE retailer Thorntons yesterday posted a 2.4 per cent fall in half-year profit as it prepared to name a replacement for outgoing chief executive Mike Davies. Chairman John von Spreckelsen said talks with a prospective new chief were well advanced but he reamained tight-lipped about who the candidate is. Acting chief executive Mark Robson will [...]
PROFESSIONAL SERVICES FIRM OF THE YEAR | The Shortlist September 7, 2010 WHETHER it’s advising firms, publishing reports or driving efficiency, professional services firms are never far from the front line in the City. With their global reach and diversified portfolios, the best-known firms have emerged looking healthy and ready to face the challenges of the new, post-downturn world. Don’t miss the City event of the year – [...]
Q&A: WHAT IS THE DISPUTE ABOUT? September 6, 2010 Q.WHY ARE WORKERS STRIKING? A.London Underground staff, as represented by unions RMT and TSSA, are striking against proposals by London Mayor Boris Johnson and Transport for London (TfL) to cut up to 800 station jobs, including ticketing staff and station management in a bid to save the cash-starved network from a series of government funding [...]