Category: News
HP Loses $190 million In Tax Case Against IRS
Hewlett-Packard Co. on Monday lost a battle with the U.S. Internal Revenue Service for more than $190 million (118 million pounds) in tax refunds tied to a Dutch tax shelter designed by the derivatives arm of American International Group. The ruling turns a spotlight on an aggressive tax-cutting strategy created last decade by AIG Financial [...]
Tesco Bank’s Launches New Bonds
The banking branch of the UK’s largest retailer has launched a new set of bonds with a 5% annual interest rate in twice-yearly instalments. The catch, however, is that these bonds will only be available to investors who are willing to lend it their money until 2020. These are the third ‘retail’ corporate bonds which [...]
HSBC To Axe 2,000 UK Jobs As Part Of Cost-Saving Drive
Banking giant HSBC is set to announce 2,000 job cuts in the UK today as part of a brutal cost-saving drive. A day after the economy officially plunged back into recession, Britain’s most profitable bank will give staff another dose of grim news. It is understood that most of the cuts will occur in middle [...]
Small Business In Dire State Due To High Rates And Low Lending
Small firms are being crippled by the highest rates of interest for more than three years – and lending is still plunging, the Bank of England said yesterday. The Bank’s figures, described by one expert as horrific, highlight the nightmare facing small firms which urgently need money to survive or expand. Its authoritative report reveals [...]
Bank Of England – The “Squeeze” Is Here To Stay
The brutal squeeze on middle class family finances will last for longer than expected, the Bank of England warned yesterday. In a bitter blow to millions of households, deputy governor Paul Tucker said Britain will be stuck with high inflation for much of 2012. The stark warning from Mr Tucker – who is among the [...]
Wealthy Brits To Move Abroad In Two Years Due High Crime Rate & Taxes
More than half a million wealthy Britons are expected to move abroad in the next two years amid concerns about crumbling road and rail networks, crime and high taxes, a survey reveals today. Some 19% of people with savings and investments worth more than £250,000 are considering a new life overseas, which is up from [...]
Changes To Child Benefit Payments – What You Need To Know
Changes to child benefit payments for thousands of higher rate tax payers come in to effect in April 2013. Here’s how to keep your tax-free child benefit if you’re a higher rate taxpayer. If you are a higher rate taxpayer that currently receives child benefit payments you could lose thousands of pounds a year when [...]
Loans
There are several types of loans available. To name just a few: unsecured loans, secured loans, car loans and debt consolidation loans. A loan is a type of credit – and therefore it must be repaid. Repayments are usually made on a monthly basis, and will continue until the loan (plus any interest) [...]
Labour’s Spending Causes More Harm Than Good
Labour’s increased spending after the credit crunch actually harmed the economy rather than boosting it, according to a centre-right think tank. A report by the Institute of Economic Affairs found that stimulus measures pursued by Western governments in response to the economic crisis did not work. Shadow Chancellor Ed Balls has repeatedly called on the [...]
Analysts Are Counting The Cost Of Eurozone Shrinkage
Economists, banks and even punters in bookmakers are studying more and more seriously scenarios involving the collapse of the eurozone. Maybe not its total evaporation, but certainly shrinkage with peripheral or weak countries falling off the currency’s map and in all cases, according to the experts, with a heavy price to pay. Analysts agree that [...]
