Multinational tax dodging strategies should be as damaging as fuelling climate change June 11, 2021 The G7’s landmark deal to tackle tax avoidance and crack down on multinational companies that treat our global economy as a financial rabbit warren, might seem a welcome step in the right direction. But until businesses start seeing tax as an investment opportunity as opposed to an unwelcome bill, it’s unlikely to make much of [...]
Fossil fuel fashion: half of clothing made from non-recycled plastic, think tank says June 11, 2021 Half of fast-fashion items sold by online brands like Boohoo and Missguided, are made solely from non-recycled plastics, a think-tank has said today. Think tank Royal Society of Arts, Manufactures and Commerce (RSA) urged the government to impose a new tax on such clothing made from non-recycled plastic like polyester. Income from the suggested clothing [...]
As accounting firms prep for busy period, non-Big Four players spot new opportunities May 26, 2021 The majority of 2020 was a slow year for the UK’s deals market, with mergers and acquisitions depressed by the Coronavirus pandemic and its subsequent lockdown restrictions. This trend, however, now seems to be in reverse with a number a big deal in the private sector, including Virgin Media and O2’s £31bn mega merger, and [...]
Klarna mulls London stock market float after post-Brexit listing revamp May 21, 2021 Klarna is weighing up a potential stock market float in London, but has said its decision will rest on changes to listing rules in the capital after Brexit. Chief executive Sebastian Siemiatkowski said London had the opportunity to strengthen its reputation as a global financial hub by attracting more fintech firms and banks. “As Brexit [...]
Labour steps up pressure on Rishi Sunak over Biden’s global tax plan May 20, 2021 Labour has stepped up its push to get Rishi Sunak to agree to Joe Biden’s plan for a minimum business tax rate among the world’s biggest economies. The party is calling on the government to put together a review of the effects of Biden’s proposal to implement a 21 per cent minimum on global business [...]
Rishi Sunak does not back Joe Biden’s global business tax plan May 17, 2021 Rishi Sunak is withholding support for Joe Biden’s draft plan to implement a minimum 21 per cent global business tax rate, with the chancellor wanting more assurances on taxation on US tech giants. Sunak, who is chairing this year’s G7 meetings for finance ministers, has reportedly said he would only support a minimum tax rate [...]
Secondary fundraising by retailers nears £2bn as firms eye M&A opportunities May 10, 2021 Listed retail companies have raised nearly £2bn in the past year as they sought to strengthen their balance sheets amid the pandemic. Now, they are starting to eye M&A opportunities. In recent years, listed firms in the UK have relied less on the public markets with private equity firms often considered a more attractive option. [...]
High street decline May 5, 2021 With high streets in turmoil and recovery slow, high street graveyards are becoming a common sight across the UK. The past 12 months have not been easy for the vast majority of companies, in particular for those without an online platform. However, the struggle of the high street is not a new problem. Rewind a few years [...]
Ex-CEO of Coca-Cola EU and founder of Café Rouge join Deliveroo’s board April 28, 2021 Deliveroo has confirmed a board shuffle today by hiring two new non-executive directors, to help keep up with its growing partnerships. Dominique Reiniche and Karen Jones are set to join the board, just as the company is to ramp up its online delivery capabilities with Waitrose. “They join at an important time for Deliveroo as [...]
Fashion retail sales rebound as shoppers invest in post-lockdown outfits April 9, 2021 Fashion retail sales soared last month as the sector, which has struggled during the coronavirus pandemic, was buoyed by shoppers investing in post-lockdown outfits. Total like-for-like fashion sales jumped 57.5 per cent in March – from a base of minus 25.9 per cent in the same month last year. This marks the first positive result [...]