Bumper Persimmon fails to shake off uncertainty March 5, 2019 | City Talk Despite the housebuilder's £1 billion profit and generous dividend, Persimmon shares are under a cloud. Just when investors thought it was safe to go back into mortar, the government's reported review of the Help to Buy scheme has dealt another blow to the sector. Persimmon (LSE:PSN) 6% share price decline represented the brunt of the blow, [...]
Direct Line operating profits slip as it warns on impact of no-deal Brexit March 5, 2019 Direct Line posted a fall in full-year earnings this morning, with the blue-chip insurer striking a cautious tone over threats of a "disruptive Brexit". In outgoing boss Paul Geddes’ final annual results statement for Britain's largest motor insurer, operating profits dipped during the 12 months and the total dividend payout was slashed. "The increased focus on [...]
Government delays Financial Services Bill vote in tax havens dispute March 4, 2019 A government bill designed to protect the City in the event of a no-deal Brexit was pulled tonight in the face of almost certain defeat after MPs added an amendment that would have forced greater tax transparency on the Isle of Man, Guernsey and Jersey. The decision sparked an outcry among MPs and campaigners who [...]
‘Turbocharged’ IAG rides out airline storms March 4, 2019 | City Talk BA owner International Airlines Group continues to impress, helped by a "turbocharged" dividend yield. The British Airways parent International Consolidated Airlines Group (LSE:IAG) has produced an outstanding performance, which is particularly impressive given the difficulties being faced elsewhere in the airline industry. The company has, for some years, been concentrating on driving its business by [...]
Carmaker Porsche facing German tax investigation March 3, 2019 Luxury carmaker Porsche is facing an investigation over alleged tax debts. The sportscar manufacturer said on Sunday that it was cooperating with German prosecutors in relation to its tax treatment treatment of employees taking early retirement and benefits given to former executives. The benefits are reported to include parties, private plane trips and chauffeur services. [...]
Pimlico Plumbers boss Charlie Mullins takes home £4.9m in dividends March 3, 2019 Plumbing millionaire Charlie Mullins bagged £4.9m in dividends from his Pimlico Plumbers business last year, according to new accounts. The figure includes £1.6m in post year end dividends. In addition to dividends, Mullins and his son Scott, took home a combined £711,512 in pay for their work as directors of the company, taking their income [...]
Claims against banks in Disney tax avoidance case could pass £1bn March 3, 2019 The total damages for banks being sued in relation to a tax scheme that purported to invest in Disney blockbusters could top £1bn, according to a lawyer acting for the claimants. HSBC and Bank of Ireland are being sued by a group of more than 700 investors in the Eclipse film financing scheme after the courts [...]
The future of news: could tax breaks make online news sustainable? March 3, 2019 Sarah Cartwright’s news kiosk is as much a fixture in Sloane Square as the high-end boutiques that have surrounded it since her grandfather began selling newspapers from a wooden box there in 1892. But the kiosk may do well to survive another decade, let alone a century. “Print is dead,” she says. The Cairncross Review [...]
Rise in scammers using landline phone calls to impersonate HMRC March 2, 2019 There has been an increase in the number of scammers using landline phone calls after a crackdown on con emails and mobile phone texts. HM Revenue and Customs received 60,000 reports of phone scams between July 2018 and January 2019, which is more than three times the amount received in the first-half of last year. Read more: Why [...]
Advertising outlook clouds picture at ITV March 1, 2019 | City Talk There's excitement over plans for BritBox, but advertising trends at ITV still make uneasy viewing. ITV (LSE:ITV) has a strategy which is delivering the required results, even though in the very near term the company's own outlook is more guarded. The inevitable culprit is Brexit, as advertisers become less willing to commit to an expensive, [...]