Business and Economics

Business and Economics News

BHS On The Brink

UK retailer BHS is on the brink and could file for administration as early as Monday, according to sources close to the owners. Department store chain British Home Stores could join Woolworths on the scrapheap of high-street staples. The loss-making store was bought out by financiers, lawyers and accountants with no retail experience and came close to closure last month with a rescue deal from creditors keeping the company solvent. But time could have run out for BHS. Sources close...

Government plans to part-nationalise UK steel plants

By Joe Mellor, Deputy Editor The Government has announced that it is willing to take up to a quarter of Tata’s UK steel assets and offer hundreds of millions of pounds to help finance their debts if a buyer can be found for the loss making plants. This part-nationalisation was unveiled after business secretary Sajid Javid said the Government would consider a “co-invest” in the British steel industry. Plans could mean the Government procuring a minority stake in various UK...

We Need Lower and Simpler Taxes to Prevent Tax Avoidance

By Ben Ramanauskas The recent revelation that many leading political figures around the world have been using offshore tax havens to hide their money has caused widespread outrage in the the UK and abroad. The Prime Minister of Iceland has resigned as a result, and there are calls by many in Britain for David Cameron to do the same. It has also focussed the public’s attention on UK tax law and those who both evade and avoid paying tax in...

Reddit User Gives Excellent Analogy of Panama Papers

A Reddit user has posted an inspired analogy of the Panama Papers, likening the leak to a kid's piggy bank. DanGliesack dumbed-down the data leak to shed light on its importance. Read it in full below: When you get a quarter you put it in the piggy bank. The piggy bank is on a shelf in your closet. Your mom knows this and she checks on it every once in a while, so she knows when you put more money...

How do you find the right technology consultancy to help your business?

FIVE QUESTIONS TO ASK IN FINDING THE RIGHT TECHNOLOGY CONSULTANCY Finding the right consultancy for your business isn’t necessarily straightforward. After all, it’s a competitive market out there and many companies have a great deal to shout about.  On the other hand, some are inept cowboys who use jargon and a fancy website to blind potential clients and capitalise on their knowledge asymmetry. With so much choice available, how do you go about ensuring you engage with the right consultancy...

Cameron’s dad ‘ran offshore fund that paid zero UK tax for 30 years’

By Joe Mellor, Deputy Editor The huge leak from Panama-based law firm Mossack Fonseca may have dragged in the PMs own late father. 11.5 million documents have been leaked, document work stretching back nearly 40 years and a firm Ian Cameron was director of, has cropped up in the paperwork. It is alleged that Cameron’s dad was embroiled in recruiting what has been dubbed a small army of Bahamas residents, to sign paperwork on behalf of an offshore fund, which...

When Free Trade Fails: The Fall of British Steel

By Dean Hochlaf As I write, 40,000 workers in the British steel industry face an uncertain future. Tata Steel is on the verge of selling its unprofitable British operations. While attention given to the state of British steel gathers momentum, it is becoming painfully clear that the seeds of the collapse of British steel were sown long ago. There are several reasons as to why we are witnessing this fall, high energy costs among them, however a lot of attention and...

Osborne put relationship with China above steel interests, says Clegg

By Joe Mellor, Deputy Editor The Chancellor has come out fighting and has defended the Government’s handling of the steel crisis, but his special relationship with China is clouding his judgment, critics have claimed. He said the Tories were doing all that is "practicable and possible" to slap tougher tariffs on cheap steel. The steel crisis has been squarely blamed on China continually dumping cheap steel on European markets and making UK steel far too expensive. Instead on intervening, it...

Highest UK earners to receive same benefits as poorest by 2020

By Joe Mellor, Deputy Editor Generous tax breaks have helped create a “shadow” welfare state for the 20 per cent wealthiest in the UK, research has revealed. The Fabian Society believe these high earners will take almost the same as the worst off fifth take in benefits. The Fabians’ general secretary, Andrew Harrop, indicated his research illustrates the latest Budget was another step in remodeling the welfare state as we know it. This shift has moved resources from the poorest...

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