Game Group’s lenders mull a rescue deal March 25, 2012 GAME GROUP’S lenders, led by The Royal Bank of Scotland, are working on plans that could result in them buying the crisis-hit video games retailer out of administration. The company, which runs 1,274 stores worldwide and employs 10,000 workers – 6,000 of them in the UK – is expected to fall into administration as early [...]
Higher tax on game machines bad for pubs March 21, 2012 THOUSANDS of jobs will be put at risk from the increased rate of machine games duty outlined in the Budget, according to the Association of British Bookmakers (ABB). Effective from February 2013, a tax rate of 20 per cent will apply to most gambling machines while a duty of five per cent will be payable [...]
PwC faces fine over JP Morgan August 15, 2011 Auditing firm PwC faces a fine for failing to report that JP Morgan was not protecting customer funds properly, the UK’s accounting regulator revealed after a 10-month probe. PwC has admitted to years of mistakes regarding JP Morgan’s failure to ensure that billions of pounds of its clients’ assets were properly ring-fenced, the Accountancy and [...]
Coryton given lifeline by KKR and Morgan Stanley February 15, 2012 CORYTON refinery will continue to operate for at least three more months after Marcel Van Poecke, a co-founder of insolvent owner Petroplus, teamed up with Morgan Stanley and investor KKR to provide fresh crude supplies. Coryton, in Essex, is the most coveted asset of the five refineries owned by Petroplus around Europe, traders and analysts [...]
Child benefit red tape tangle March 21, 2012 A RAID on child benefits for higher rate tax payers was watered down by George Osborne yesterday, yet the chancellor’s amended system was accused of tying parents up with burdensome new red tape. The coalition had been set to remove child benefit from any household where an adult earned enough to fall into the 40p [...]
Bright ideas from the NHS can earn hospitals billions April 10, 2012 MUCH of the debate – and emotion – that surrounded the passage of the Health and Social Care Act focused on the extent to which the private sector should be allowed to compete to provide services to the NHS. It is a good question, and the public will benefit from some elements of additional competition [...]
Households are £8,000 in debt February 5, 2012 Despite three years of paying off credit cards the average household still faces £8,000 in unsecured debts, a PwC report warned today. “UK consumers are among the most indebted in the world,” said PwC’s Simon Westcott. “With households paying off an average of £355 worth of debts in 2011, three years of austerity have only [...]
Households are £8,000 in debt February 5, 2012 Despite three years of paying off credit cards the average household still faces £8,000 in unsecured debts, a PwC report warned today. “UK consumers are among the most indebted in the world,” said PwC’s Simon Westcott. “With households paying off an average of £355 worth of debts in 2011, three years of austerity have only [...]
Wessex shares surge as Total lines up bid to snap up more assets in Guiana March 19, 2012 SHARES in oil company Wessex Exploration soared more than 30 per cent yesterday after French major Total said it is looking to buy the company for around £71m. Total confirmed it has made an approach with a potential cash offer to buy the company for 10p a share. Wessex owns a 1.25 per cent interest [...]
VAT hike on chicken and sausage rolls March 21, 2012 THOSE WHO enjoy tucking into supermarket rotisserie chicken, toasted sandwiches or sausage rolls bought on the high street may find they are about to pay more dearly after the chancellor clamped down on loopholes allowing shops to avoid paying VAT on hot food. From October, supermarkets and other retailers such as Greggs will be forced [...]