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....It says Poundland’s Twin Peaks bar is “deceptively and confusingly similar” to Toblerone to the extent that shoppers may believe it is produced by Mondelēz or has been otherwise approved by the company. The claim by Mondelēz says it made £17m in net revenues from Toblerone in the UK last year and spent £4. ... [Read full article on Guardian ]
Thursday 17th of August 2017 05:00:03 AM
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.... In 1985 Nokia launched its first mobile phone, the Mobira Talkman, but it was 1987’s Cityman which shot to fame when pictured in use by Mikhail Gorbachev. By 1998, Nokia had overtaken mobile phone pioneer Motorola to become the bestselling global mobile phone brand, manufacturing its 100-millionth phone by December that year, with revenues of $20bn (then £13bn) and 55,000 staff by the year 2000. ... [Read full article on Guardian ]
Wednesday 16th of August 2017 06:45:10 PM
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.... State governments have sought to capture sales taxes lost to internet retailers, though they have struggled with a 1992 supreme court ruling that retailers must have a physical presence in a state before officials can make them collect sales tax. The issue arose recently in South Carolina, which has pursued legal action to recoup tax revenue it says it’s owed. ... [Read full article on Guardian ]
Wednesday 16th of August 2017 04:15:14 PM
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....Soaring demand for British craft beers in South Korea helped UK food and drink exports top £10bn in the first six months of 2017, the best first half figures ever. Ireland, France and the US are the top three destinations for British food and drink, but the east Asian country was the fastest growing with export revenues up 77% as beer sales jumped more than 420% year-on-year to £59. ... [Read full article on Guardian ]
Thursday 17th of August 2017 11:01:07 PM
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.... That was 16% higher than the amount collected in the same quarter in 2016, due to the additional £454m generated by the 3% surcharge for investors and second-home buyers. Wilson Craw said: “This revenue could be used to build tens of thousands of homes a year, which would be quite a significant boost to house building. ... [Read full article on Guardian ]
Saturday 19th of August 2017 03:54:34 PM
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. The UK social housing maintenance company Mears Group has downgraded its profit forecast and slashed its full-year revenue predictions as its clients delay new contracts following the Grenfell Tower fire. ... [Read full article on Guardian ]
Tuesday 15th of August 2017 01:00:41 PM
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....Leo Quinn arrived as chief executive at the start of 2015 to implement his derisking plans and Wednesday’s half-year results delivered the clearest improvement so far. Underlying profits from operations of £39m doesn’t sound like a healthy return on £4bn of revenues but Quinn is now predicting “industry standard margins” – which means about 2. ... [Read full article on Guardian ]
Wednesday 16th of August 2017 07:29:37 PM
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....The Indian conglomerate is hoping to secure a $700m (A$900m) Australian government loan to develop one the world’s largest coal mines in Queensland. The documents, compiled in 2014 by India’s directorate of revenue intelligence (DRI), accuse Adani Group of ordering hundreds of millions of dollars’ worth of equipment for an electricity project in Maharashtra state using a front company in Dubai. ... [Read full article on Guardian ]
Sunday 20th of August 2017 02:28:19 AM
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....The taxpayer’s share of the cost of running the railways has been proportionately reduced under successive governments, starting with Labour in 2005. Around 67% of the cost was met from ticket revenues in 2016, with another 6% coming from parking and other passenger sources, while the government coughed up £3. ... [Read full article on Guardian ]
Saturday 19th of August 2017 02:59:16 PM
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....The Adani Group allegedly fraudulently siphoned hundreds of millions of dollars from India into tax havens – a practice enabled by Indian government tax breaks. Details of the allegations, and documents from India’s directorate of revenue intelligence, have been published by the Guardian today. ... [Read full article on Guardian ]
Wednesday 16th of August 2017 02:09:17 AM
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Latest Finance News related to Revenue

Indian opposition calls for investigation into Adani over financial fraud allegations image
....The Indian conglomerate is hoping to secure a $700m (A$900m) Australian government loan to develop one the world’s largest coal mines in Queensland. The documents, compiled in 2014 by India’s directorate of revenue intelligence (DRI), accuse Adani Group of ordering hundreds of millions of dollars’ worth of equipment for an electricity project in Maharashtra state using a front company in Dubai. ...
Second-home ownership up 30% since 2000, research finds image
Source : Guardian [Read Article] Saturday 19th of August 2017 03:54:34 PM
.... That was 16% higher than the amount collected in the same quarter in 2016, due to the additional £454m generated by the 3% surcharge for investors and second-home buyers. Wilson Craw said: “This revenue could be used to build tens of thousands of homes a year, which would be quite a significant boost to house building. ...
Seven ways to cut the cost of Britain’s rail tickets image
Source : Guardian [Read Article] Saturday 19th of August 2017 02:59:16 PM
....The taxpayer’s share of the cost of running the railways has been proportionately reduced under successive governments, starting with Labour in 2005. Around 67% of the cost was met from ticket revenues in 2016, with another 6% coming from parking and other passenger sources, while the government coughed up £3. ...
South Korea's thirst for craft beer helps food and drink exports top £10bn image
....Soaring demand for British craft beers in South Korea helped UK food and drink exports top £10bn in the first six months of 2017, the best first half figures ever. Ireland, France and the US are the top three destinations for British food and drink, but the east Asian country was the fastest growing with export revenues up 77% as beer sales jumped more than 420% year-on-year to £59. ...
Toblerone shape not distinctive enough for trademark, Poundland claims image
Source : Guardian [Read Article] Thursday 17th of August 2017 05:00:03 AM
....It says Poundland’s Twin Peaks bar is “deceptively and confusingly similar” to Toblerone to the extent that shoppers may believe it is produced by Mondelēz or has been otherwise approved by the company. The claim by Mondelēz says it made £17m in net revenues from Toblerone in the UK last year and spent £4. ...
The fallout from Trump closing down his advisory panels is just beginning | Nils Pratley image
....Leo Quinn arrived as chief executive at the start of 2015 to implement his derisking plans and Wednesday’s half-year results delivered the clearest improvement so far. Underlying profits from operations of £39m doesn’t sound like a healthy return on £4bn of revenues but Quinn is now predicting “industry standard margins” – which means about 2. ...
Nokia 8 hopes to beat Apple and Samsung with 'bothie', a new version of the selfie image
.... In 1985 Nokia launched its first mobile phone, the Mobira Talkman, but it was 1987’s Cityman which shot to fame when pictured in use by Mikhail Gorbachev. By 1998, Nokia had overtaken mobile phone pioneer Motorola to become the bestselling global mobile phone brand, manufacturing its 100-millionth phone by December that year, with revenues of $20bn (then £13bn) and 55,000 staff by the year 2000. ...
Amazon stock market value falls by $5bn after critical Trump tweet image
Source : Guardian [Read Article] Wednesday 16th of August 2017 04:15:14 PM
.... State governments have sought to capture sales taxes lost to internet retailers, though they have struggled with a 1992 supreme court ruling that retailers must have a physical presence in a state before officials can make them collect sales tax. The issue arose recently in South Carolina, which has pursued legal action to recoup tax revenue it says it’s owed. ...
Adani $900m rail line loan should be ruled out after fraud allegations, opponents say image
....The Adani Group allegedly fraudulently siphoned hundreds of millions of dollars from India into tax havens – a practice enabled by Indian government tax breaks. Details of the allegations, and documents from India’s directorate of revenue intelligence, have been published by the Guardian today. ...
Mears Group cuts profits forecast in wake of Grenfell Tower fire image
Source : Guardian [Read Article] Tuesday 15th of August 2017 01:00:41 PM
. The UK social housing maintenance company Mears Group has downgraded its profit forecast and slashed its full-year revenue predictions as its clients delay new contracts following the Grenfell Tower fire. ...
Intercontinental Hotel Group flying despite lack of capital - SHARE HUNTER image
Source : Daily Express [Read Article] Monday 14th of August 2017 08:35:00 AM
....Instead, it either manages the hotel on behalf of landlords, or franchises out a brand to the hotel owner, directing reservations through online bookings. In both cases, IHG collects revenues without actually owning the properties. ...
Half of landlords in one London borough fail to declare rental income image
Source : Guardian [Read Article] Sunday 13th of August 2017 01:04:01 PM
....”. Newham said it understands that HMRC is currently contacting local landlords who have failed to register their rental revenues. ...
Netflix will need its comic-book heroes: Disney may just have become a rival image
....“Disney’s new service is not positioned to compete directly with Netflix, but adds to the mix of options out there for consumers,” said Richard Broughton of Ampere Analysis. “Disney’s move is more about developing new revenue streams than it is about building a Netflix-like competitor. ...
Aw, Snapchat! Its shares stood little chance in the face of Facebook image
Source : Guardian [Read Article] Sunday 13th of August 2017 06:00:06 AM
.... Forget about the number of daily users, he argued with irritation, and look at the amount of time users spend on Snapchat, and how much advertisers are willing to pay. Spiegel’s general point is fair: advertising revenue is what ultimately counts. ...
Smoking and Drinking tax: How HMRC cashes in on our vices image
Source : Daily Express [Read Article] Sunday 13th of August 2017 12:01:00 AM
.... This saves the state £9. 8 billion in pension, healthcare and other benefit payments, even after accounting for the tax revenues lost when somebody dies. ...
Vanishing app: Snapchat struggles as Facebook bites back image
Source : Guardian [Read Article] Friday 11th of August 2017 05:40:23 PM
.... Snapchat’s parent, Snap Inc, lost $443m over the last three months, compared with $116m in the same period a year ago. Young tech companies are expected to burn through cash at a prodigious rate as they chase customers, but the main worry for shareholders was anaemic user growth, missed revenue targets and the threat from Facebook and Google – both of which have copied some of Snapchat’s key features. ...
News Corp posts $817m loss after falls in value of newspaper and pay TV assets image
....14bn, down 2% from $8. 29bn last year, due to lower print advertising revenue and foreign currency fluctuations, the New York-based company said. ...
For the first time ever I am defending banks. Here’s why | John Harris image
.... Philip Hammond, the chancellor, seems to know roughly what is at stake, but swaths of the Conservative party – that historic redoubt of traders, brokers and high-rollers – seem surprisingly unconcerned. After all, what have bankers – bankers – ever done for us? Part of the answer lies in the £70bn-ish of tax revenue paid by financial services in 2015/16 – about two-thirds of our annual spend on the NHS. ...
Snapchat takes another hit on Wall Street image
Source : Guardian [Read Article] Thursday 10th of August 2017 09:38:31 PM
.... The company paid out $242m in stock based payments and associated taxes over the quarter. The mobile app’s revenues rose 153% to $182m, but were below Wall Street forecasts. ...
Lego replaces British chief after just eight months at helm image
Source : Guardian [Read Article] Thursday 10th of August 2017 06:51:57 PM
.... The success story continued with the launch of The Lego Movie in 2014. But while Lego now vies with the Barbie doll maker Mattel to be the world’s largest toy manufacturer, revenue growth slowed from 25% in 2015 to just 6% last year – the lowest annual increase in nine years – with sales of 37. ...
Bank of England deputy's Brexit warning is strong stuff | Nils Pratley image
Source : Guardian [Read Article] Tuesday 8th of August 2017 11:01:03 PM
.... It’s not surprising. First-half operating profits improved by a fifth to £180m but the rate of revenue growth halved to 9% from a year ago. ...
Cath Kidston's profits bloom as 'essential Britishness' sells worldwide image
Source : Guardian [Read Article] Tuesday 8th of August 2017 05:33:42 PM
.... In the current season the price of some products has increased by up to 5%. Wilson said its UK chain, which accounts for about two-thirds of sales, had enjoyed like-for-like revenue growth of 3. ...
Ed Sheeran’s Divide puts Warner Music’s streaming income on track to cross £1bn image
. The popularity of Ed Sheeran and his latest album, Divide, helped drive a 58% increase in streaming revenue for Warner Music, putting it on track to make more than $1. ...
Paddy Power Betfair blames bad results on bad results image
Source : Guardian [Read Article] Tuesday 8th of August 2017 10:12:14 AM
....Shares in the betting group fell sharply for a second day, after the bookmaker surprised investors on Monday with the revelation that Breon Corcoran had resigned as chief executive. The company was the biggest faller on the FTSE 100 on Tuesday, down 5%, after it revealed revenue growth over the first six months had fallen to 9% from 18% in the same period a year earlier. ...
Two pints of best and an English rosé as wine comes to the beer festival image
....The share price dropped in May when Morgan Stanley warned that specialist retail chains such as Pets at Home, which has more than 400 superstore outlets, were not sustainable in the age of the internet and discount stores. Later in the month however, the company showed that its move into veterinary and grooming services had proved lucrative, with a 45% rise in revenues in that portion of the business for the year to the end of March. ...
John Malone, the ‘swamp alligator’ chewing up the UK’s media market image
....9% but the expected takeover, which could cost £9bn, has so far failed to emerge. Malone believes ITV is overpriced and is facing uncertainties, such as the impact of the rise of streaming services, while London-listed Liberty Global does not generate any revenues in dollars so hasn’t benefited from the post-Brexit slump in the pound. ...
Why Trumponomics cannot make America great again image
Source : Guardian [Read Article] Friday 4th of August 2017 09:40:46 AM
....That leaves congressional Republicans with little room for manoeuvre. Because the US Senate’s budget-reconciliation rules require all tax cuts to be revenue-neutral after 10 years, Republicans will either have to cut tax rates by far less than they had originally intended, or settle for temporary and limited tax cuts that aren’t paid for. ...
Pearson to axe 3,000 jobs after slump at main US business image
Source : Guardian [Read Article] Friday 4th of August 2017 06:58:32 AM
....“No one takes pleasure in this sort of transformation we have to do but it is fundamental to the long-term future of the company,” Fallon said. “I am looking forward to getting the revenue growth of the company going again. ...
How Britain fell out of love with the free market image
Source : Guardian [Read Article] Friday 4th of August 2017 05:00:34 AM
....In the late-90s, the economy started growing more consistently, as part of a technology-driven boom across the western world, and Hutton’s view of Britain began to seem too pessimistic. On winning power in 1997, Labour left most of the structure and practices of Thatcherite capitalism in place, and rather than question its rationale, they used swelling tax revenues to soften its social effects, for example through tax credits to subsidise low wages. ...
Britain is still a world-beater at one thing: ripping off its own citizens | Aditya Chakrabortty image
.... For years, big property developers have been flogging the freeholds on newly built estates to speculators, often based offshore, whose only relationship with the people living there is to hit them with ever-larger bills. Tens of thousands of families have been bundled up and turned into human revenue streams. ...
Don't relax rules on City after Brexit, Mark Carney warns image
Source : Guardian [Read Article] Thursday 3rd of August 2017 05:00:19 PM
....The governor of the Bank of England has predicted that the financial sector could double in size to be 20 times as big as GDP within the next 25 years, but warned that the government must hold its nerve and resist pressure to water down regulation after Brexit. Speaking to the Guardian to mark the 10th anniversary of the start of the global financial crisis in August 2007, Mark Carney said a thriving City meant more jobs, tax revenues and exports. ...
William Hill sees online sports betting increase by 13% in a year image
Source : Guardian [Read Article] Wednesday 2nd of August 2017 10:46:50 PM
....The amount wagered on cricket, football, golf and other sports was up 13% on the same period in 2016. Average revenue per customer was up 9% and there were also gains from gamblers new to William Hill. ...
Apple hints iPhone 8 won't be delayed as company's shares hit record high image
....Analysts had been expecting Apple to ship 40m-41m iPhones in the three months ending 30 June. According to the company’s latest quarterly earnings report, Apple expects revenues between $49bn and $52bn for the final quarter of the year, when the new iPhone is expected to be released. ...
Cheers! Heineken toasts rise in half-year operating profit to £1.6 billion image
Source : Daily Express [Read Article] Tuesday 1st of August 2017 12:00:00 AM
. The Dutch group, whose beers include Tiger and Sol, lifted revenue by 3. ...
BNP Paribas to expand further into UK property business with merger image
Source : Guardian [Read Article] Monday 31st of July 2017 07:09:18 PM
. The real estate arm of the banking giant BNP Paribas is to acquire a UK property services group in a deal that will triple its revenue and the number of staff it has in the country covering the business. ...
HSBC chief sounds alarm over financial regulation and Brexit image
Source : Guardian [Read Article] Monday 31st of July 2017 07:02:10 AM
....5bn to shareholders through share buybacks,” said Gulliver, who in the financial stages of a global plan to make savings of $5bn, cut 25,000 jobs and “pivot” the business towards Asia. HSBC has previously said Brexit could force the bank to move moving 1,000 staff to Paris, which Gulliver said would help avoid a loss $1bn of revenue. ...
One in five high-street estate agents risk going bust, study claims image
Source : Guardian [Read Article] Monday 31st of July 2017 05:00:39 AM
....Revenues and profits at Foxtons also fell in the first half as the London-focused estate agent pointed to “unprecedented” economic and political uncertainty hitting the property market. The group said revenue fell 15% to £58. ...
British motorists 'face 10% rise in car repair bills after hard Brexit' image
....”. The report concluded that WTO tariffs on automotive parts exported from the UK could cost the domestic industry up to £3bn in lost revenue, “with a potential impact on future investment and jobs”. ...
Victory! New-build leaseholds banned … but what of those already trapped? image
.... I live in south-east London, and the freehold on my apartment block was sold to E&J Estates a year ago, which means my contract about doubling rent every 10 years is with them. They will have no incentive to deal with this, especially now that a new revenue stream is in danger. ...
Tesco covers tampon tax for customers by cutting prices image
Source : Guardian [Read Article] Friday 28th of July 2017 05:36:40 PM
.... But the earliest a new law could come into force would be 2018. Until then, the government promised to spend the revenue from the tax on women’s charities, initially including the anti-abortion and pregnancy counselling organisation Life. ...
Jeff Bezos: how the world's richest man can change his stingy reputation image
....In December, Amazon warehouse workers in Scotland were being paid so little that they were sleeping in tents to save money. Perhaps, now that Bezos has turned philanthropic, a little less of Amazon’s record revenues should go toward purchasing his luxury homes, and a little more toward ensuring that none of his employees spend a Scottish winter in a tent. ...
BT profits dive by 40% after £225m payout over Italian scandal image
Source : Guardian [Read Article] Friday 28th of July 2017 06:49:04 AM
....BT added just 8,000 new TV customers, following an equally anaemic 11,000 in the first quarter of the year – close to a record low. Patterson said overall BT delivered an “encouraging performance” in its first quarter, with total revenues up 1% to £5. ...
AstraZeneca boss Pascal Soriot's 'pivotal' year is turning out horribly | Nils Pratley image
.... It would mark the moment when the firm would display the new wonders from its laboratories. The march towards annual revenues of $45bn (£34. ...
Turkey is popular again with British tourists, says Thomas Cook image
Source : Guardian [Read Article] Thursday 27th of July 2017 03:04:18 PM
.... An increase in capacity in Spain is affecting tour operators’ margins in the country, and Thomas Cook said prices were under pressure from the intense competition. The tour operator reported a 14% rise in revenues for the third quarter and said strong demand for summer bookings would continue into winter, adding that its full-year operating profit would be in line with forecasts. ...
AstraZeneca shares dive after failure in key lung cancer drug trial image
Source : Guardian [Read Article] Thursday 27th of July 2017 07:36:16 AM
.... Imfinzi is already approved for bladder cancer in the US. The study forms a key part of Soriot’s promise to rebuild the company’s drugs pipeline and boost revenues to $45bn by 2023, after rejecting a $118bn (£69bn) takeover bid from US rival Pfizer in 2014. ...
Facebook posts $3.89bn quarterly profit, up 71% from last year image
Source : Guardian [Read Article] Wednesday 26th of July 2017 11:45:51 PM
....Facebook has delivered a much higher-than-expected quarterly profit, driven by a sharp increase in sales of mobile video ads, sending its shares to an all-time high. Total revenue rose 44. ...
Love Island is awful – but ITV's prospects are better | Nils Pratley image
Source : Guardian [Read Article] Wednesday 26th of July 2017 06:54:35 PM
.... It’s the state of play in the advertising market from ITV’s perspective. First-half ad revenues fell 8%, as expected, but the negative read-outs are becoming less negative. ...
GSK to cut drug development projects to focus on 'winners' image
Source : Guardian [Read Article] Wednesday 26th of July 2017 05:36:06 PM
....Walmsley said GSK would make the US its “No 1 priority market” – adding this had nothing to do with Brexit. GSK’s revenues in the second quarter rose 12% to £7. ...
Fever-Tree co-founder toasts £29m payout as shares hit record high image
Source : Guardian [Read Article] Wednesday 26th of July 2017 09:57:47 AM
....5m shares on Tuesday at £19. 25 each, shortly after the upmarket tonic water maker reported a 77% surge in half-year revenues and said full year results would be “materially ahead of expectations”. ...
Ministers vow to end employment tribunal fees after court defeat image
Source : Guardian [Read Article] Wednesday 26th of July 2017 09:11:45 AM
.... A large amount will also have been spent defending this case all the way to the supreme court. If this cruel scheme was meant to be an additional source of revenue for the government, then it has proved to be counterproductive in every way. ...
ITV clings to Love Island and Victoria as ad slump hits profits image
Source : Guardian [Read Article] Wednesday 26th of July 2017 07:15:31 AM
.... ITV’s pre-tax profits slumped 16% to £259m in the first six months of 2017. June was a particularly difficult month, with advertising revenue plummeting 18% year on year against a tough comparison with the same month in 2016, when ITV had European Championship football coverage. ...
Ed Sheeran fever helps drive rise of more than 10% in UK music sales image
Source : Guardian [Read Article] Tuesday 25th of July 2017 03:33:16 PM
....7m. Overall, three-quarters of the £3bn of entertainment sector revenues are now accounted for by digital services and content. ...
Guardian Media Group cuts losses by more than a third image
Source : Guardian [Read Article] Tuesday 25th of July 2017 08:00:00 AM
....The parent company of the Guardian and Observer cut its losses by more than a third to £45m in the last financial year and more than quadrupled its number of paying members, as it seeks to break even within two years. Guardian Media Group said total revenues increased by 2. ...
Ryanair profits take off but airline reissues Brexit warning image
Source : Guardian [Read Article] Monday 24th of July 2017 08:55:10 AM
....20). The Ryanair chief executive, Michael O’Leary, said the profits were boosted by the timing of Easter, but this was partly offset by the weaker pound and less revenue from checked bags as more customers took advantage of the airline’s two free carry-on bags policy. ...
Great British Bake Off to be sponsored by Lyle's Golden Syrup and Dr Oetker image
....After paying £75m to poach Bake Off from the BBC, Channel 4 needs to make at least £25m over its three-year deal with Love Productions, the maker of the show, to avoid the equivalent of a commercial soggy bottom. Most revenues will come from selling TV ads and packages, at premium prices of as much as £200,000 for a 30-second slot. ...
Asda considers bid for B&M that would give it access to local stores image
Source : Guardian [Read Article] Sunday 23rd of July 2017 04:11:01 PM
.... It claims to have enjoyed its rapid growth on the basis of word-of-mouth, with virtually no advertising spend. Its revenues grew 18% in the first quarter of 2017. ...
While Hammond looks for a magic money tree, Labour has found one | Larry Elliott image
....The chancellor’s thinking is clear enough. Ten years ago, when the financial crisis broke, the UK was running an annual budget deficit – the shortfall between what the state raises in revenue and what it spends – of around 2. ...
Burgers and birdwatching? UK retail fights to make shopping a big day out image
....“Clothing retailers are being buffeted hard on many fronts,” said Jeremy Willmont, head of restructuring and insolvency at Moore Stephens. “Rising costs and intensifying competition are putting pressure on revenue and making profit margins harder to maintain. ...
Recruitment sector tax scheme liquidates hundreds more firms image
Source : Guardian [Read Article] Thursday 20th of July 2017 02:17:53 PM
....The voluntary liquidations of the companies linked to Anderson followed initial questions posed by HMRC’s fraud and investigation service last year, which asked Anderson for details about the large numbers of VAT registration applications made on behalf of its clients. The Guardian’s investigation triggered a series of parliamentary questions by Frank Field MP, the chairman of the House of Commons work and pensions select committee, who last week asked the chancellor: “What assessment has [the chancellor] made of HMRC’s ability to investigate and recover tax revenue lost to aggressive tax avoidance schemes promoted by the Anderson Group and others?”. ...
Mike Ashley brushes off 60% dive in profits as shares in Sports Direct rise image
....During the year, Ashley took over as chief executive following the departure of Dave Forsey in September 2016, an appointment that was “positively welcomed by a number of shareholders”, the company noted. Group revenues climbed by 11. ...
Morgan Stanley picks Frankfurt as post-Brexit hub image
Source : Guardian [Read Article] Wednesday 19th of July 2017 04:11:56 PM
.... HSBC has warned it could move 1,000 staff from London to Paris. Morgan Stanley’s imminent move of key roles to Frankfurt came as it beat Wall Street’s profit expectations, reporting gains across most of its businesses and, unusually, producing more trading revenue than rival Goldman Sachs. ...
GlaxoSmithKline to sell UK Horlicks brand and scrap factory plans image
Source : Guardian [Read Article] Wednesday 19th of July 2017 02:51:53 PM
....”. GSK said the decision to sell the UK Horlicks brand, which is more than 100 years old but has seen annual sales in Britain decline to about £15m, did not affect the brand in India or south-east Asia, which account for the bulk of its global revenues. ...
Drax looking at 'coal-free future' as it reveals £83m pre-tax loss image
Source : Guardian [Read Article] Wednesday 19th of July 2017 09:33:16 AM
.... So he brings a lot to the table,” Thompson said. The half-yearly results showed revenues from Drax’s retail energy unit were up from a small loss in the first half of last year to around £11m, thanks in part to its acquisition of Opus for £340m last November. ...
If home ownership continues to shrink, the retirement system is in trouble | Greg Jericho image
....Given it would be political death to include the family home in the assets test for the pension, this could lead to a double whammy in aged care/welfare spending of not just an ageing population but an ageing population that rents. The exclusion of the family home from the assets test, and the continual use of stamp duty as a state revenue measure, also leads to undersupply of housing as recently noted by Hal Pawson, the associate director of the City Futures Research Centre at the University of New South Wales. ...
Carolyn McCall to become ITV chief executive image
Source : Guardian [Read Article] Monday 17th of July 2017 06:15:51 AM
....McCall joined GMG in 1986 and rose through the commercial ranks to become chief executive of the newspaper business, Guardian News & Media, in 2000 and of the parent company in 2006. “This provides solid media experience in the world of advertising, which remains the majority of ITV’s revenue,” said Garrity. ...
Aramco may be big, but fawning to Saudis diminishes London image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:00:14 AM
....How can Carillion, a company with 48,000 employees and a £5bn turnover, be exposed as a financial mess in one stock exchange statement – such as the one that sent its shares crashing 70% last week?. A clue can be found in March’s annual report, where chairman Philip Green wrote: “The group has once again delivered strong revenue growth. ...
How can the Southern rail fiasco be solved? Look to John Lewis | David Boyle image
....Part of the problem is a desperate Department of Transport, increasingly dependent on the handful of companies that still want to run a rail franchise. And this one is also peculiar because Govia takes only 3% of ticket revenue, giving the rest to Whitehall. ...
Jeremy Clarkson TV firm made £8m profit after Amazon's Grand Tour image
Source : Guardian [Read Article] Friday 14th of July 2017 10:09:41 AM
....After five years of increasingly embarrassing payouts being made public, BBC Worldwide, which originally set up Bedder 6 to keep Clarkson and Wilman loyal to the hugely successful programme, and reduce the amount of money paid out by licence fee payers, took full control of the company in 2012. Hammond and May were not shareholders in Bedder 6, but did begin to take a share of Top Gear’s commercial revenue in return for promoting the show globally, as part of a new deal they signed to carry on co-presenting Top Gear in 2012. ...
Pay-per-mile road tax plan wins £250,000 Wolfson economics prize image
Source : Guardian [Read Article] Thursday 13th of July 2017 09:00:17 PM
....A graduate transport planner has won a £250,000 prize for a plan to improve Britain’s ailing roads with a proposal to scrap fuel and vehicle taxes and replace them with a pay-per-mile charging scheme. The scheme would reward users of lighter, cleaner vehicles and ensure a steady stream of revenue to the exchequer (pdf), with the £27bn received annually from fuel duty now jeopardised by electric vehicles. ...
Philip Morris waging global effort to hobble anti-smoking treaty, files show image
....The fear of the tobacco industry is that health ministers will be persuaded by public health campaigners and agencies such as the WHO to hike tobacco taxes – a move that has been proven to reduce smoking. Finance ministers, however, can potentially be persuaded that there is a risk of losing revenue. ...
Carillion has 'no future without rights issue of at least £500m' image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:20:18 AM
.... Predictably, the shares reacted violently to the news – slumping 39% on Monday – but the bloodbath didn’t stop there. They were down again by 33% on Tuesday, plus another 27% on Wednesday, and suddenly a business with annual revenues of £5bn and 48,000 employees was worth less than £250m. ...
Channel 4 chief David Abraham receives record pay package image
Source : Guardian [Read Article] Wednesday 12th of July 2017 01:25:12 PM
....The board awarded Abraham a bonus of £256,000, on top of his £560,000 basic salary, plus £140,000 in pension contributions. The broadcaster made record revenues of £995m and experienced a growth of more than 20% in viewing and revenues from on-demand service All4 to more than £100m. ...
Paris's Colette – 'the trendiest store in the world' – set to close image
Source : Guardian [Read Article] Wednesday 12th of July 2017 01:19:11 PM
....It is thought that the brand may live on in some capacity online. Creative director Andelman said in March that the revenues had been affected by the reduction in tourist numbers following the terrorist attacks on Paris in 2015, but added that e-commerce was growing. ...

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