By Kate Holton
(Reuters) – Prime Minister David Cameron on Thursday attacked multinational corporations that avoid paying their fair share of tax, promising action against such aggressive strategies after a public backlash in Britain.
The issue of tax avoidance by big business has turned toxic in recent years as millions of Britons struggle with low pay rises and austerity measures introduced to reduce the budget deficit.
Jan 24 (Reuters) – Prime Minister David Cameron on Thursday
attacked multinational corporations that avoid paying their fair
share of tax, promising action against such aggressive
strategies after a public backlash in Britain.
The issue of tax avoidance by big business has turned toxic
in recent years as millions of Britons struggle with low pay
rises and austerity measures introduced to reduce the budget
LONDON/DUBLIN, Jan 24 (Reuters) – Burger King, one
of the most popular fast-food chains in Britain and Ireland,
said on Thursday it had stopped using one of the firms caught up
in the scandal of supplying grocers with beef that contained
The British food industry has been rocked by the revelation
last week that retailers including market leader Tesco
and smaller chains Aldi, Lidl and Iceland
had sold beef products that contained horse meat.
LONDON (Reuters) – Leading British business figures warned Prime Minister David Cameron on Wednesday that his plan for an in-out referendum on the European Union membership was a risky gamble that could damage the economy and throttle foreign investment.
Speaking after Cameron’s call for a vote by 2017, business leaders in London and at the World Economic Forum in Davos said Britain’s $2.5 trillion economy would face uncertainty now that its future position in the 27 country-bloc was in question.
LONDON, Jan 21 (Reuters) – British education and media group
Pearson warned it expected tough market conditions to
continue in 2013 after weak trading in its key fourth-quarter
selling season hit earnings last year.
The Financial Times newspaper and Penguin books publisher
said it now expects to report on Feb. 25 adjusted earnings per
share of around 84 pence for 2012, below the 84.9 pence it had
said it expected in October, due to restrained government
funding on education in developed markets and weak advertising.
LONDON, Jan 17 (Reuters) – Prime Minister David Cameron’s
bid to redefine Britain’s relationship with Europe risks
stalling foreign investment and throttling the growth of many
companies, leading business figures have warned.
Cameron will deliver a speech in Amsterdam on Friday setting
out his plans for Britain’s future in the European Union, which
is expected to focus on wresting powers back from Brussels.
LONDON, Jan 15 (Reuters) – HMV, the long-established
music retailer seeking protection from its creditors, is
unlikely to have a future beyond a rump of stores and the
internet, if other recent British retail failures are any guide.
After years of struggling as its core business of selling
CDs and DVDs was hammered by competition from online retailers
like Amazon and download sites like Apple’s
iTunes, HMV picked consultants Deloitte late on Monday to try to
salvage some of its 239 British and Irish stores.
HONG KONG/LONDON (Reuters) – Shares of Citic Telecom International Holdings Ltd had their biggest one-day percentage gain in more than two years on Monday after striking a $1.2 billion deal to gain control of a Macau telecommunications company from Cable & Wireless Communications Plc (CWC.L: Quote, Profile, Research, Stock Buzz) and Portugal Telecom SGPS SA (PTC.LS: Quote, Profile, Research, Stock Buzz).
The deal will help Citic Telecom, backed by China’s state-owned conglomerate Citic Group, gain greater access to fast-growing Macau and more retail customers. That prompted a near 18 percent rally in Citic Telecom shares on Monday, the biggest one-day gain since September 2010.
HONG KONG/LONDON (Reuters) – Citic Telecom is to buy a 79 percent stake in a Macau telecom company from Cable & Wireless Communications (CWC.L: Quote, Profile, Research, Stock Buzz) and Portugal Telecom (PTC.LS: Quote, Profile, Research, Stock Buzz) for $1.2 billion, giving the Chinese company greater access to fast-growing Macau.
Macau, the world’s largest casino market, has been performing strongly for CWC due to tourism in the area, but the London-listed company is exiting some non-core markets to focus on the Caribbean and Central America.
LONDON, Jan 10 (Reuters) – Department stores chain John
Lewis and deep discounter Aldi emerged as winners on
Thursday after British retailers fought it out for every pound
in a tough Christmas.
Elsewhere Tesco showed signs of life, John Lewis
and Next proved as reliable as ever, but Marks
& Spencer was left looking embarrassed when its poor
results were leaked a day early.