Monday, June 25, 2018
Redactor's Choice
You are here: Home / Categories / Economy & Finances (page 4)

Economy & Finances

Kensington Roof Gardens to close after more than 35 years

garden (1)

Kensington Roof Gardens, one of ­London’s best-known party venues, is to close after its owner of more than 35 years, Virgin, said a challenging market meant it had struggled to make a profit.  The gardens, now a Grade II-listed site, date back to the 1930s, but the company said yesterday: “The time has come for us to close our doors. “In an ever-changing London market the roof gardens has stood the test of time but in the face of unpredictable market conditions and a challenge to remain profitable, we feel that the time has come for us to c... Read More »

Shell and Barclays ‘lose’ £2bn in US tax changes

bank (1)

Barclays is facing a larger full-year loss than expected because it told investors that the tax changes would initially cost it about £1 billion. At the same time, Royal Dutch Shell said in a statement to the stock market that the tax cut would lead it to take a hit to its earnings of between $2 billion and $2.5 billion.   ... Read More »

UK bosses are richest in Europe

uk.000

Research by Vlerick Business School in Belgium found that FTSE 100 chief executives took home pay packages worth 94 times those of their average staff member, despite government attempts to crackdown on ballooning corporate compensation. The school’s analysis, reported by the Financial Times, found that top French and German company chiefs were the only ones who came close to their British peers, earning multiples of 91 and 89 times their average worker. ... Read More »

Which big names in business are 2018’s ones to watch?

top

Michael O’Leary In 2011, the chief executive of Ryanair, Michael O’Leary, outlined his pitch for one of the most sought-after honours in the world: “There hasn’t been a war in Europe for 50 years, because they’re all too busy flying on Ryanair. I should get the Nobel peace prize – screw Bono.” Shamefully, the Nobel committee continues to overlook O’Leary as a potential laureate, although he is increasingly being recognised in other areas. Having admitted that his company may not always have treated its passengers quite as they hoped, O... Read More »

World’s Biggest Education Market Is Opening For Business

education (1)

Successive reforms of strict prohibitions on foreign-owned schools has seen the number of students enrolled in international schools rise, with the Chinese market now the largest in the world. And the most lucrative end of the market is in line for a significant fillip in 2018 following changes introduced this year. Suspicion of western influence has been behind a historical reluctance on the part of the Chinese authorities to allow international schools to gain anything more than a toe-hold in the country. Access was generally denied to Chi... Read More »

Grosvenor Crescent rated the most expensive street in England and Wales

grosvenor (1)

The sweeping crescent, whose Grade II-listed properties are thought to have been built between 1837 and 1860, topped a list of the priciest streets published by Lloyds Bank. However, while Grosvenor Crescent’s residents are sitting pretty, with the typical price tag unchanged on last December, their wealthy neighbours in Eaton Square – which topped the bank’s table a year ago – have each typically seen more than £3m wiped off the value of their property in the space of 12 months, cutting the average price to just over £13.5m. Lloyds did n... Read More »

Facebook caves under pressure from governments to change tax structure

face (1)

It currently re-routes revenue through its international headquarters in Dublin and attracted criticism in the UK after it was shown to have paid just over £4,000 in tax in 2014. Corporate taxation has become a hot-button topic in the wake of revelations of tax avoidance schemes by multinationals which have led to calls for companies to pay more tax. The company is expected to start paying tax on its local operations across roughly 30 jurisdictions outside the United States including France, Germany and eight other EU countries where Faceboo... Read More »

Spain agrees 4 percent rise in minimum wage for 2018

work (1)

pain’s economy emerged from recession in 2013 and become one of the fastest growing economies in the euro zone. However, many of the jobs created during the recovery have been temporary or part-time, leading to low wages and rising inequality. Unions have long asked for wages to rise to reflect Spain’s strong economic growth. The government’s end-of-year growth forecast is 3.1 percent. On Tuesday, they said they were pleased with the wage increase. “It is a boost to rebuild the salaries of people who lost most in the economic crisis,” sai... Read More »

European Medicines agency will bring jobs, generate millions of euros

ema (1)

The 890 workers will have an estimated €45m in net salaries to spend and much of that will benefit local shops, service providers, bars and restaurants, ING says. In addition, housing the EMA workers will bring in €10m to €15m while the 30,000 overnight stays which EMA visitors will book will generate €4m for the hotel sector. The Financieele Dagblad says experts suggest the EU agency will provide work for 1,500 people working in catering, cleaning, security, childcare and teaching. In addition, some 200 of the agency’s 890 staff are not exp... Read More »

Gucci under investigation for tax evasion by Italian authorities

gucci (1)

Gucci, Italy’s greatest fashion success story and a brand whose renaissance has become a model the whole industry wants to emulate, is being investigated as perhaps among the country’s biggest tax evaders. The Italian tax police searched the Gucci Hub, the 377,000-square-foot campus in Milan that is home to more than 250 employees, last week, as well as Gucci’s offices in Florence. The search was part of a criminal investigation into the brand by the prosecutor’s office in Milan. The Italian newspaper La Stampa reported that officials wer... Read More »

Scroll To Top