Britain could become a social investment hub – if the chancellor provides the right incentives December 4, 2013 LONDON is fast emerging as a global centre for social investing. All of the ingredients are here: a vibrant entrepreneurial culture, a strong ethos of charitable giving and investing for good, a supportive government, and organisations whose aim is to grow the world of social impact investing. In the last few months, London has hosted [...]
Barclays ups bonus pool by 10pc in 2013 February 11, 2014 Having said yesterday that profit before tax fell by a third (32 per cent) over 2013 to £5.2bn, Barclays has announced this morning that it upped its bonus pool by 10 per cent to £2.4bn in 2013. Bonuses for investment bankers rose 13 per cent to £1.57bn in the year. Revenue at the investment bank [...]
Here’s why BoAML thinks Bitcoin is going to reach silver status December 5, 2013 Bank of America Merrill Lynch (BoAML) has said that Bitcoin could become a major source of e-commerce and can become a serious competitor to traditional money transfer services. In BoAML's view Bitcoin has clear potential for growth. However, the bank believes Bitcoin's volatility remains a problem for its further development. BoAML estimate that if Bitcoin [...]
Britain must do more to accelerate exploitation of its vast shale potential January 13, 2014 TO SUPPORT the development of its huge shale potential, Britain desperately needs the backing of investors, local communities, and local government. The stakes are high – with the slow demise of the North Sea, we face rising import bills, a rapidly declining tax base and, as last year’s dispute at the Grangemouth refinery warned us, [...]
The real reason the chancellor should not let the OBR audit party manifestos December 9, 2013 IT HAS been a tough week for Ed Balls. Many within Labour are said to be questioning his position as shadow chancellor following his disastrous response to George Osborne’s Autumn Statement. While Balls claims he “couldn’t give a toss” about the speculation, he needs to repair his party’s economic credibility, and fast. That’s one reason [...]
Tax crackdown on partnerships aims for £7bn December 5, 2013 A PACKAGE of measures to curb tax avoidance were included in yesterday’s Autumn Statement, in a move the chancellor says will raise nearly £7bn. Osborne outlined a two-pronged crackdown on company partnerships used to reduces taxes for hedge fund managers’ salaries and disguise company employees as self-employed partners to avoid income tax. “Most wealthy people [...]
3 reasons why China is running scared of Bitcoin December 5, 2013 The People's Bank of China (PBOC) has announced a ban on financial institutions handling Bitcoin transactions. The central bank declared that Bitcoin was a currency without “real meaning.” The move comes shortly after China became the world's largest trader of the virtual currency. As China moves to restrict the use of Bitcoins here are three [...]
DS Smith profit soars as market share increases December 5, 2013 PACKAGING firm DS Smith saw its share price soar over six per cent yesterday morning, after posting a 52 per cent rise in half-year profits that showed its European expansion plan is paying off. The FTSE 250 company, which packages McVities Hobnobs among other popular brands, said pre-tax profits rose to £85m and revenue rose [...]
Eurozone consumer confidence creeps up to highest reading since July 2011 October 23, 2013 Consumer confidence improved marginally in the Euro area in October, with a flash estimate of -14.5, after September's -14.9. This is the 11th month on the trot to see a gain, and the reading is its highest since July 2011. It remained unchanged in the EU at 11.7. Berenberg's Christian Schulz says: "the indicator is [...]
Liberal Democrats narrowly back the 45p top rate of income tax September 16, 2013 LIBERAL Democrat members yesterday said they wanted to keep the top rate of income tax at 45p – but only by a tiny majority. Activists voted by 224 to 220 to back the government's decision to abolish the 50p rate, in a major victory for leader Nick Clegg, who had been expected to lose the [...]