Eight takeaways from Yanis Varoufakis’ submission to Greece’s lenders February 24, 2015 It was only a matter of time, but the six-page document submitted by the Greek government to Eurozone leaders this morning showing the measures it plans to take in return for a four-month extension to its bailout deal has been leaked online. The FT published a copy of the document, and the contents are enlightening. [...]
Yanis Varoufakis demolishes Jeroen Dijsselbloem and Angela Merkel in this awesome rap battle February 24, 2015 Is it just us or has much of the western world has been developing a crush on rock-star economist-turned-Greek finance minister Yanis Varoufakis? When he's not wrangling with Germany over his country's debt crisis, he's out watching cool plays or throwing in casual references to literary giants. https://twitter.com/yanisvaroufakis/status/568563479076081664 He's been brought in on [...]
George Osborne misses minimum wage target for 2015 February 23, 2015 The Low Pay Commission (LPC) announced yesterday that the minimum wage for workers over 21 years old should be raised by 20p to £6.70 an hour, a three per cent rise. George Osborne has previously indicated he would like it to be higher. In January last year the chancellor said in an interview: “If the [...]
HSBC’s unhappy 150th birthday illustrates its growth: Stuart Gulliver on the highs and lows February 23, 2015 In the 1990s, Stuart Gulliver went to what look like extraordinary lengths to hide his bonus – he was paid in a Swiss account, held in the name of a Panamanian company. It looks shady, in light of the latest round of revelations of tax evasion through Swiss accounts. And the extra scrutiny comes at [...]
George Osborne challenges Ed Balls to say sorry over HSBC Swiss tax evasion scandal February 23, 2015 Chancellor George Osborne hit back at Labour over HSBC’s Swiss private bank yesterday, arguing that the wrongdoing took place and the taxman received the leaked documents under Labour, not the Tories, and Lord Green was given an advisory job by Gordon Brown. It comes after a fortnight of Labour accusing Osborne of failing to act [...]
HSBC case: Osborne could include new tax rules in budget February 23, 2015 New measures to tackle tax avoidance look set to be included in George Osborne’s budget next month in the wake of the HSBC tax case. As Osborne made his parliamentary response to the HSBC allegations he clashed with Ed Balls, the shadow chancellor. Balls accused Osborne of negligence, which moved Osborne to claim the government [...]
New Look hires JPMorgan as it eyes £2bn float February 23, 2015 Fast fashion chain New Look has taken a step closer to an initial public listing (IPO), having hired JP Morgan to work on options for a flotation. Reports suggest the retailer, which is currently owned by private equity firms Apax and Permira as well as founder Tom Singh, could be valued at as much [...]
Boris Johnson’s vision of a jetpack future is already here as Martin Aircraft Company takes off February 22, 2015 Looking to the future of London, Boris Johnson could only dream of a Jetsons-style space-age capital. “It may be that by 2020 we will all have learnt to commute with jetpacks, but until then, we need to invest in our existing transport modes,” he said a few years ago. Now, however, it seems the mayor’s [...]
24 Hour Party People? George Osborne and Boris Johnson confirm plans to turn London into 24-hour city February 20, 2015 London is just months away from taking tentative steps towards becoming a 24-hour capital, and the government is already planning the next phase. Chancellor George Osborne and London mayor Boris Johnson this morning confirmed a wider rollout of the 24 hour service across the Tube and Overground lines from 2017. That will follow [...]
Warren Buffett’s Berkshire Hathaway makes European investment with €400m Devlet Louis Motorradvertriebs purchase February 20, 2015 He may have dumped his stake in Exxon, but Warren Buffett is still motoring. Berkshire Hathaway has splashed €400m (£294m) on a German motorcycle business, the first in what's likely to be a series of deals in Europe where the investment firm has been looking to invest. He had earlier hinted at the deal, which went [...]