George giveth and George taketh away March 23, 2011 GEORGE Osborne yesterday unveiled a handful of eye-catching tax cuts designed to help the motorist and boost economic growth. Businesses welcomed the chancellor’s decision to reduce corporation tax by 2p next month while a 1p per litre cut in fuel duty will help soften the blow of soaring petrol prices. But Osborne was accused of [...]
Osborne calls big businesses home to UK plc March 23, 2011 MULTINATIONALS that have fled Britain’s punitive business tax regime gave a cautious welcome to yesterday’s Budget, with UBM and WPP both saying that the country is going in the right direction of travel. Communications group WPP moved its headquarters to Dublin in 2008, but chief executive Sir Martin Sorrell said yesterday that the Budget was a positive [...]
Global firms welcome relief on foreign earnings March 23, 2011 THE government has announced measures intended to lure multinationals back to the UK and has promised a review on the taxation of profits made outside the country. The Chancellor said during his Budget announcement yesterday: “I want Britain to be the place international businesses go to, not the place they leave.” He claimed that the [...]
Global firms welcome relief on foreign earnings March 23, 2011 THE government has announced measures intended to lure multinationals back to the UK and has promised a review on the taxation of profits made outside the country. The Chancellor said during his Budget announcement yesterday: “I want Britain to be the place international businesses go to, not the place they leave.” He claimed that the [...]
Osborne to hike tax allowances March 22, 2011 GEORGE Osborne will today unveil small tax cuts, help for first-time buyers and a series of symbolic measures to show he is tough on the rich. But his Budget could be overshadowed by spiralling inflation and weaker public finances, preventing him from pulling any rabbits out of his hat. The chancellor will announce that he [...]
WPP buys Vietnamese agency March 22, 2011 WPP yesterday announced the acquisition of Vietnamese digital agency Who Digital. The world’s biggest advertising agency plans to form a joint venture in the country with OgilvyOne, in which it will take a majority stake. Who Digital, which has assets of around £400,000, has clients including Unilever, Megastar, HSBC, Baoviet and Sony Ericsson. The acquisition [...]
Osborne plans crackdown on tax avoidance March 20, 2011 GEORGE Osborne is set to step up his attempts to tackle tax avoidance in the Budget on Wednesday, City A.M. understands, as part of a raft of measures designed to prove he is tough on the wealthy. A Treasury source yesterday said there would be “all sorts of anti avoidance” measures in the Budget including [...]
Ad recovery is boost for Aegis March 17, 2011 Marketing group Aegis beat forecasts yesterday despite suffering a £25m exceptional charge on the threat of bad debts from a Spanish former client. The debt provision pushed its pre-tax profits down 25 per cent from £91.2m to £68m but chief executive Jerry Buhlmann told City A.M. his firm had taken a “very prudent” view on [...]
WPP boss given £5m in shares March 16, 2011 WPP BOSS Sir Martin Sorrell was yesterday given £5.3m worth of shares as part of his firm’s incentive scheme. He accepted 318,000 shares from the US part of the scheme worth £2.3m and has deferred collection of 404,000 shares from the UK part worth £3m. Sorrell’s full remuneration package will be announced in WPP’s annual [...]
WPP boss given £5m in shares March 16, 2011 WPP BOSS Sir Martin Sorrell was yesterday given £5.3m worth of shares as part of his firm’s incentive scheme. He accepted 318,000 shares from the US part of the scheme worth £2.3m and has deferred collection of 404,000 shares from the UK part worth £3m. Sorrell’s full remuneration package will be announced in WPP’s annual [...]