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Marks & Spencer next in line to face criticism for corporate tax structure Monday, 20th May 2013
Marks & Spencer has become embroiled in the corporate tax debacle which has seen tax campaigners criticise big companies about the way they structure its online sales to Europe. The Guardian has recently launched an investigation into companies who appear to be exploiting lenient tax rules by invoicing transactions to countries with the lowest corporate tax rates.
Starbucks remains “full committed” to UK store openings Monday, 28th January 2013
US coffee giant Starbucks has reiterated its plans to open new stores in the UK, after reports emerged in the press over the weekend regarding its British investment plans in the wake of a number of tax avoidance accusations. Starbucks has denied any question raised over its plans for investment in the UK, after claims circulated that the coffee chain could hold off on future investments in retaliation for David Cameron’s statements regarding corporate tax and tax avoidance at Davos last week.
Tesco to create 20,000 jobs in next two years Monday, 5th March 2012
Tesco has announced it will create 20,000 jobs in the next two years, in a move that has already been lauded as a “massive confidence boost for the country” by Prime Minister David Cameron. The news comes just weeks after the supermarket came under fire from Right to Work activists, protesting at Tesco’s involvement in the government scheme.
Sir James Dyson attacks China over patent ‘theft’ Tuesday, 6th December 2011
Photo by Dyson, with a Dyson fan (right) and Chinese version (left). Sir James Dyson has accused Chinese companies of stealing his designs last year, after the inventor spent £3.5 million in legal costs to bring the companies to court. The British entrepreneur even hired private detectives to spy on illegal Asian workshops where his bladeless fans are taken apart and copied.
Sainsbury’s CEO hits out at David Cameron Wednesday, 5th October 2011
Justin King, chief executive of J Sainsbury today hit out at David Cameron and his outlook on the British economy, stating there is “too much doom and gloom”. King’s warning comes after Sainsbury’s managed to post sales up 1.9 per cent amidst some of the rockiest trading conditions in living memory.
Plastic not fantastic: Cameron puts the pressure on retailers Thursday, 29th September 2011
David Cameron has told retailers they need to cut the number of plastic bags they use, describing the rise in bags issued for 2010 as “unacceptable”. Cameron said: "I am very concerned about the use of single use carrier bags and the effect that they have on the environment. The number of bags being...
On Her Majesty’s Service: Kingfisher strikes deal in Russia Monday, 12th September 2011
As David Cameron begins his one-day visit to the country, B&Q owner Kingfisher announced plans to expand its Castorama brand across Russia, with nine new store openings planned as far east as Ekaterinburg.
Accompanying the prime minister on his trip to Moscow, Kingfisher chief executive Ian Cheshire is one of a handful businessmen Downing Street have pinned hopes on as David Cameron looks to build better relationships between the UK and Russia.
Cheshire told press: "Russia represents a major opportunity for Kingfisher. Our trading performance there has been encouraging and we look forward to opening these nine new Castorama stores and many more in the future."
Kingfisher is one of the first British retailers to begin a more aggressive expansion in Russia, who, along with Burberry and Next, intend to tap into the increasing wealth of the country’s middle classes.
Cameron unveils new allowances for retailers hit by riots Thursday, 11th August 2011
David Cameron has announced a number of concrete measures designed to help riot-hit retailers.
The Government will now allow local authorities to give business rates relief to retailers affected by the civil unrest seen across the country this week. During today’s Prime Minister’s Questions Cameron also told Parliament that businesses badly damaged in the riots could defer their tax payments.
A £20 million high street support scheme will now be set up to “help affected businesses get back up and running quickly.”
The new terms will also include creating regulations that slow the installation of protective shutters will be cut, along with the fact that the Government will meet the cost of any legitimate compensation claims. Businesses will be offered 42 days to claim instead of the usual 14.
The Association of British Insurers apparently expects the insurance industry to have to pay out more than £200 million following the last week’s violent events.
Mary Portas plans ‘working lunch’ with top retailers Monday, 8th August 2011
It’s no small task but someone’s got to do it: Mary Portas has summoned some of the country’s most powerful retailers to a “working lunch” next month to begin a dialogue on how to save Britain’s ailing high streets.
The retail consultant was appointed by David Cameron earlier this year, and is expected to head up a turnaround for the UK’s retailers, by fostering “more prosperous and diverse” town centres at a time when one in seven shops lie empty.
Since her appointment in May, Portas’ website has received over 1,500 responses, with many comments blaming supermarkets and parking restrictions for the struggling retail climate.
The Department for Business, Innovation and Skills (BIS) confirmed the lunch was taking place, although the list of attendees is still being finalised.
"Mary Portas is keen to meet everyone that is involved in the high street, from independent retailers to the chief executives of major companies to gain input into her review," said a spokesman. BIS said Portas was expected to report back in the autumn as planned, but industry sources say the report could be delayed.