Sports and the City October 28, 2012 THE Square Mile is positively basking in sporting glory these days. For a start, five giant rugby balls, one to represent each competing nation, were planted in Lime Street to mark the launch of the QBE Internationals taking place in November. In further sporting City news, Devonshire Square was turfed over on Friday, ahead of [...]
Sports and the City October 28, 2012 THE Square Mile is positively basking in sporting glory these days. For a start, five giant rugby balls, one to represent each competing nation, were planted in Lime Street to mark the launch of the QBE Internationals taking place in November. In further sporting City news, Devonshire Square was turfed over on Friday, ahead of [...]
Top executives quizzed by MPs on tax avoidance November 12, 2012 STARBUCKS, Amazon and Google were yesterday criticised by MPs following accusations that the multinational firms are moving profits abroad to minimise their UK corporation tax bill. MPs were critical of deals that appear to show firms diverting apparently British transactions through overseas divisions in low-tax countries. Members of the Public Accounts Committee accused the firms [...]
Imagination Technology hit on mixed day for Apple suppliers September 13, 2012 IMAGINATION Technologies, the British firm that designs graphics chips for smartphones including Apple’s iPhone, saw its share price fall yesterday despite Wednesday night’s launch of the iPhone 5. The firm warned that average royalty rates had been hit by increasing sales of low-end smartphones, and warned of “uncertainty over timing [of new revenues], particularly given [...]
Politicians need to stop moralising – and reform our taxes December 3, 2012 LIKE many people, I loathe the UK tax system. It fails to treat everyone equally and is either extraordinarily punitive or pathetically soft. Scandalously, some big companies pay huge amounts of corporation tax while other similar businesses don’t. The aim must be revolutionary tax reform – all streams of income from labour and capital generated [...]
Tattersalls sale attracts wealth of racing fans October 15, 2012 CITY horse racing fans, of which there are no doubt many, may have been following the Tattersalls yearling sale last week with a speculative eye. This was certainly the case for Bernard Kantor of Investec and Martin Hughes of Cheviot Asset Management, who were both spotted at the old auction house. Tatts, by no means [...]
Record demand for smartphone chips lifts ARM October 23, 2012 ROCKETING interest in Apple products meant sales at chip designer ARM Holdings have increased by a fifth over the last year, sending shares in the Cambridge-based firm up more than 10 per cent yesterday. The company beat market expectations to see revenue hit £145m in the third quarter of the year, up from £120m in [...]
Record demand for smartphone chips lifts ARM October 23, 2012 ROCKETING interest in Apple products meant sales at chip designer ARM Holdings have increased by a fifth over the last year, sending shares in the Cambridge-based firm up more than 10 per cent yesterday. The company beat market expectations to see revenue hit £145m in the third quarter of the year, up from £120m in [...]
How corporation tax myths poison the wider debate November 12, 2012 EXECUTIVES from Google and Starbucks were summoned yesterday to give evidence to the UK’s public accounts committee on their approach to UK taxation. Grilled by Margaret Hodge MP – an outspoken critic of the tax strategies adopted by multinational companies – their treatment reveals two myths about corporation tax that continue to confuse MPs and [...]
Shale gas is a good idea – but it is too soon to count on it to save us December 6, 2012 THE government’s gas strategy document, published alongside the Autumn Statement this week, rightly said that gas should play “a major role in our electricity mix” for decades to come. George Osborne was also right to focus on how to make private investment in new gas-fired power stations work without subsidies. But uncertainty is still a [...]