Asda unveils £100m brand make-over September 21, 2010 THE unveiling of Asda’s Chosen By You range saw chief executive Andy Clarke take centre stage as he claimed the £100m project would be “game changing” because it was the first time a supermarket had put so much time and money into updating its mid-range products. More than 40,000 consumers across the UK took part [...]
A tricky balancing act on tax reform September 21, 2010 CONFERENCE season is upon us and the next few weeks will be the first time the parties have had since May to slow down and take stock of this brave new post-coalition political world. Given the breakneck speed at which the coalition has been implementing its policies so far, the conference pause is also a [...]
UK deficit a record high for August September 21, 2010 Britain last month posted a record budget deficit for August as interest payments on index-linked gilts shot up because of higher inflation than a year ago, official data showed. The Office for Nationals Statistics (ONS) said public sector net borrowing came in at £15.302bn, well above analysts’ forecasts for a reading of £12.5bn and some [...]
JCB CHAIR TAKES THE HONOURS AT GOODWOOD September 19, 2010 TO SUSSEX yesterday for the final day of the Goodwood Revival classic car festival, where a raft of senior figures from the City were slogging it out against each other on the track in the most prestigious race of the weekend – the Royal Automobile Club TT race. The race – a one-hour, two-driver challenge [...]
Watchdogs face merger as cuts begin September 16, 2010 THE Competition Commission (CC) and the Office of Fair Trading (OFT) could merge to form a single oversight body as early as next year, it has emerged. According to the BBC, the coalition government could revive earlier plans by Labour to combine the two market watchdogs. The BBC said that the marriage is currently on [...]
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 [...]