The Telegraph says pressure grew on the Bank of England to cut interest rates as new data showe...
The Telegraph says pressure grew on the Bank of England to cut interest rates as new data showed a collapse in the UK manufacturing sector last month. It is the first time the index has fallen below 50 - the difference between expansion and contraction - since October, and is the weakest for two years.
UP to 90,000 small contractors lost their battle with the Inland Revenue yesterday, reports the Telegraph, when a High Court judge rejected claims that the controversial IR35 tax regime was incompatible with European and human rights law. The new measure, which came into effect last April, removes the tax benefits enjoyed by consultants, such as IT contractors, who hire their services out to clients through one-man companies.
According to the FT, American Express shares fell after the group warned the weakening economy is hitting earnings. Amex said it had suffered losses in its junk-bond holdings, slowing growth in its card businesses and weakening sales of investment products. More troubling going forward, though, were signs of weakness in cards and asset management, which could signal difficulties for other financial services companies.
The Times states strong Treasury support for the reappointment of DeAnne Julius to the Monetary Policy Committee has so far failed to persuade the business economist to serve a second term.
Across the Nationals reports suggest China is set to allow the US access to the 24 crew members of a US surveillance aircraft which was forced to make an emergency landing in southern China.
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October