News Archive

Finance chiefs feel less confident due to eurozone woes

Large poll of chief financial officers finds confidence is waning in corporate spending and the overall economy, even as profits improve

PwC: About 28% of Britain's largest companies fail to disclose bonus criteria

More than a quarter of Britain's largest companies are failing to explain to investors the criteria on the basis of which bonuses are paid to their top executives, a recent report by Pricewaterhouse Coopers (PwC) indicates. Two years ago it became a requirement for large public companies to explain performance pay.

UK losing millions on VAT exemptions for low-value packages shipped by eBay, Amazon

UK is losing millions of pounds in VAT avoidance and evasion as an increasing number of non-EU sellers dominate sales on online portals such as Amazon and eBay. These sellers, including hundreds from China, undervalue goods shipped to the UK and other European destinations so as to qualify for VAT exemptions.

Tories hope 'constitutional crisis' threat will stop Lords from blocking tax credit cuts

It is judgement day for George Osborne and his plan to cut tax credits for millions of workers across the UK as the House of Lords votes on the controversial proposal on 26 October. The peers can either pass the chancellor's measures, sink the reforms in a "fatal motion", or delay them.

UK rate hike could come sooner according to Kristin Forbes

Kristin Forbes, member of the Bank of England's (BoE) Monetary Policy Committee, on 16 October (Friday) said that the central bank's interest rate hike should come "sooner rather than later". She added that slowdown in China and other emerging markets should not block a long awaited British interest rate hike.

Conservative peer Stuart Rose to lead 'Yes' campaign for UK's EU membership referrendum

The head of the UK's European Union membership referendum 'Yes' campaign was named as Stuart Rose today (10 October). The former chief executive of high street retailer Marks & Spencer will run the "In Campaign" for the the UK to stay a member of the EU.

Tories’ wage and leave reforms under fire from small businesses

The Conservative Party, gathering for its annual conference in Manchester this week, has come under renewed fire from British business for two of its recent policy proposals – the new national living wage and changes to paternity leave.

London rated world's leading financial centre, overtaking New York

London is the world's leading financial centre, according to an index published by Z/Yen Group. It overtook New York which led the chart in 2014.

George Osborne upbeat on slowing China economy and encourages UK investment

Chancellor George Osborne expressed his confidence in the slowing Chinese economy on 20 September, and called for more Chinese investment in the UK during a visit to Beijing. Despite disagreements over human rights and the former British colony of Hong Kong, China values Britain's staunch defence of free trade and lack of obstacles to investing in Britain. Chinese President Xi Jinping visits Britain next month.

Bank of England keeps interest rate at 0.5% and QE programme at £375bn

The Bank of England's Monetary Policy Committee has kept the UK interest rate at its record low of 0.5%, the Bank announced. The organisation's asset buying programme is also unchanged at £375bn (€517bn, $579bn). The results of the MPC's September meeting were hotly anticipated, as it was the first one since the devaluation of the Chinese yuan started.

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