Greece has some big obstacles to clear to meet its fiscal targets and achieve primary surplus by 2014 July 29, 2013 Greece is continuing to make "overall, albeit often slow, progress" under the second economic asjustment programme, according to the European Commission's latest review of the country's economy. Although Greece has made good progress on public finances, recapitalisation of the four major banks, and several important structural reforms, there are still a number of areas that [...]
What the other papers say this morning February 25, 2013 FINANCIAL TIMES Captain Magic conjures hedge launch The glory days of the hedge fund launch may not be entirely over. Raffaele Costa, a flamboyant former GLG partner and self-styled “Captain Magic”, will this week unveil the first fund at his new firm Tyndaris, in what will be one of the boldest start-ups since 2008. Merkel [...]
UK braced for Chinese spree February 7, 2013 UK RETAILERS are braced for an increase in Chinese shoppers next week as New Year celebrations coincide with Golden Week, one of the country’s biggest holiday periods for Chinese tourists. Global Blue, the tax-free shopping services company, said its expects to see a repeat of the 30 per cent year-on-year growth in tax free sales [...]
Businesses call for VAT cut to boost tourism December 9, 2012 SLASHING VAT on tourist industries could grow the economy without cutting tax revenue, a tourist campaign group claimed yesterday. Using the Treasury’s own economic models, the British Hospitality Association (BHA) found that cutting VAT by 15 percentage points on tourism-related sales would deliver a £2.6bn windfall to the Treasury over 10 years. This is because [...]
Hamleys profits leap as French owner plots further expansion December 6, 2012 HAMLEYS, the country’s most famous toy shop recently snapped up by its larger French rival, yesterday posted bumper sales and profits in the year to March as it continues to keep its little customers happy. Ludendo, the family-owned toy group, bought Hamleys from the failed Icelandic bank Landsbanki for £60m in September. The group, under [...]
Marrakech does luxury — if you know where to look December 2, 2012 MARRAKECH HAS always proved popular with holiday goers: the vibrancy of the markets, its rich cultural heritage, the array of traditional food on offer and its general mystique continues to draw people in. During the 1930s it became a hub for writers and creative folk and by the Seventies, everyone from Yves Saint Laurent to [...]
Boris says Starbucks must do more for UK November 18, 2012 BORIS Johnson has said that multinational firms like Starbucks, who have not paid much UK corporation tax in recent years, need to do more for UK society or change their tax arrangements. Speaking to City A.M. ahead of his speech at the Confederation of British Industry’s (CBI) annual conference today, the Mayor of London said: [...]
We just need the political will to reduce destructive energy prices October 4, 2012 OUT of all major economies, politicians in the UK have embraced aggressive climate policy in the most starry-eyed and expensive way. No other country has taken on more ambitious targets, done less to protect industry from the consequences or imposed more draconian unilateral regulations. We were the only country to set serious targets in the [...]
MPs urge fast action to beef up air capacity August 29, 2012 MORE MPs have waded into the row over Heathrow’s future, warning in a report yesterday that unless the coalition takes immediate action to expand Britain’s air capacity, the country will miss out on potential growth. The all-party parliamentary aviation group adds to pressure on transport secretary Justine Greening, who has spent the week insisting that [...]
Tourism bosses question Hunt’s China plan August 14, 2012 TOURISM industry leaders have been left unconvinced by government plans to treble to the number of Chinese visitors to the UK, saying yesterday there were still too many barriers to inbound travel that needed to be addressed. In a speech at the Tate Modern, culture secretary Jeremy Hunt set out how the government plans to [...]