US Federal Reserve’s Janet Yellen: ‘We’re taking a look’ at negative interest rates February 11, 2016 The US Federal Reserve is looking into whether negative interest rates would be an applicable policy for the US. Federal Reserve chair Janet Yellen said in testimony to congress: "We had previously considered them and decided they would not work well to foster accommodation back in 2010." "In light of the experience of European countries and [...]
Google tax row: Economists and accountants react to this morning’s hearing with the Public Accounts Committee, many concluding that the corporate tax system needs a revamp February 11, 2016 From how taxed chair of the Public Accounts Committee (PAC) Meg Hillier's patience was to Google's Europe president Matt Brittin's take-home pay, today's hearing between MPs and Google representatives was a true war of words. For some observers, though, the debate did not quite hit the mark. "The focus today around Google’s tax affairs misses the [...]
Business landlord Workspace sells five London buildings for £64m February 11, 2016 Small business landlord Workspace has sold off five industrial buildings across London for £64m as it looks to raise cash to invest back into new schemes. The FTSE 250-listed group, which owns and manages 80 properties let to 4,000 growing companies, said the industrial estates had an average rent of £9.07 per sq ft and were sold at a [...]
French energy giant Total ramps up cost-cutting measures to combat low oil prices February 11, 2016 French oil major Total today announced plans to ramp up its cost-cutting measures, to combat the oil price rout which has wrought havoc on balance sheets across the industry. Total will reduce its capital expenditure to around $19bn (£13.1bn) this year, down more than 15 per cent from 2015. It's also targeting asset sales of $4bn in [...]
Estate agent Countrywide appoints former Tui boss as chairman February 11, 2016 Britain's largest estate agent Countrywide has appointed the former chief executive of travel operator Tui as chairman. Peter Long, who was co-chief executive of Tui until last week, has joined the board as a non-executive director with immediate effect and will take up the role of chairman on 27 April following Countrywide's annual general meeting, the company announced [...]
Markets in Financial Instruments Directive (MiFID II) date confirmed – but why are financial institutions doing more and achieving less? February 11, 2016 After waiting and wondering, financial institutions finally have a firm date of 3 January 2018 for Markets in Financial Instruments Directive – also known as MiFID II – compliance. Whether this extended deadline provides firms with sufficient time to get their houses in order is debatable, but one thing is certain, huge amounts of money have already been spent on regulation. [...]
The customer is always right: Sales staff frequently missing the mark on customer expectations, by not listening and not asking enough insightful questions February 11, 2016 Salespeople regularly fall short of customer expectations, failing to measure up to their requirements, such as listening to what they actually want, a survey released today has found. According to the survey conducted by Huthwaite International, 85 per cent of people believe that salespeople should listen carefully to them to make sure they getting what they want, but only [...]
Profit at Tata Motors slides but beats forecast, share price plummets anyway February 11, 2016 Indian car maker and owner of Jaguar Land Rover, Tata Motors, has reported a profit slump of of two per cent in the third quarter, hitting 35.1bn rupees (£357m), as China’s economic slowdown drags on sales. Tata Motor’s share price is down to its lowest level since August 2013, closing down 5.5 per cent with [...]
Music industry body IFPI moves into The Crown Estate’s Regent Street scheme February 11, 2016 The Crown Estate has secured another letting at its newly refurbished Grade II listed building at the south end of Regent Street. The world’s recording industry body, the IFPI, has agreed to move its London headquarters from 10 Piccadilly to 7 Air Street, taking the entire third floor spanning 9,000 square feet. It is understood to be paying in [...]
UK government borrowing costs hit record low as markets start to price in stronger chance of interest rate cut February 11, 2016 UK government borrowing costs have fallen to record lows as investors ditch risky stocks and flock to the safety of the bond market. The interest on a 10-year UK government bond dropped to 1.275 per cent today. It was just shy of two per cent at the turn of the year and nearly a full [...]
