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  • BP to pay one-off $1.5billion charge but expects long term US profit boost from Trump's corporate tax cut

    January 2, 2018 10:38 AM 14

    British energy giant BP is set to benefit from sweeping changes to US corporation tax but not before it pays a one off $1.5 billion charge. The US corporate tax rate will drop from 35 per cent to 21 per cent, after President Trump pushed through one of his key campaign promises. Long term, BP expects a positive impact on post-tax profits, caused by the most significant

  • Goldman Sachs pays an early bonus to 300 investment bankers saving it £110m in tax

    December 31, 2017 4:09 PM 22

    Goldman Sachs has paid an early bonus to 300 investment bankers, saving it $150 million (£110million) in tax. The Wall street giant paid the US-based partners, normally awarded bonuses in January, on Friday – ahead of New Year tax changes which would have increased the bill. Ten board-level executives shared nearly $100 million. Chairman and chief executive

  • When facts cause friction: Tim Harford joins us for a special This is Money podcast on fake news and why statistics can be emotive

    December 29, 2017 5:13 PM 11

    In this special episode of the This is Money podcast Tim Harford, presenter of the BBC series More or Less and all-round Undercover Economist makes a second guest appearance. We talk about facts and stats - checking them, debunking them, reporting them, baffling with them, battling over them. Tim argues that we think of facts as being either correct

  • Co-op’s bid to sell 5m pints of craft beer as it increases business with smaller breweries

    December 27, 2017 9:51 PM 13

    The Co-op is increasing the number of supplies it buys from smaller breweries as it aims to sell 5m pints. The retailer is extending a programme of buying local beer following a pilot scheme in Yorkshire, and is set to complete a UK-wide roll out in the coming weeks. Almost 200 smaller suppliers will benefit from the move, which is in line with the Co-op's

  • Tory treasurer Mick Davis closes mining venture without having made a single deal

    December 27, 2017 9:51 PM 17

    Tory treasurer Mick Davis has closed his mining venture X2 Resources without making a single deal. The former Xstrata chief executive, known as Mick the Miner, blamed the failure on his giving six major investors the ability to block any deal. Davis told the Wall Street Journal: ‘That was really stupid of me.’ He was on the verge of buying coal assets

  • MP to quit his £350,000 part-time role as senior adviser with Gulf Keystone and to focus on his work in Parliament

    December 24, 2017 11:42 AM 13

    Conservative MP Nadhim Zahawi is expected to step down from his role as a senior adviser to oil company Gulf Keystone Petroleum in the New Year. It is understood that Zahawi, who has represented Stratford upon Avon since 2010, wants to focus on his work in Parliament. He plans to devote himself to fighting for a good outcome in the Brexit negotiations

  • Why Brazilians love spaghetti rings: Waitrose orders to customers overseas are up 20%

    December 22, 2017 9:51 PM 16

    Brazilians love Waitrose's spaghetti rings, the French are big fans of the posh supermarket's baked beans and Australians go crazy for piccalilli. Waitrose revealed orders for its food and drink to customers overseas are up by 20 per cent compared to 2016, through its partnership with online store British Corner Shop. Exports of its baked beans to France

  • Chief who made Google £550bn firm stands down after 17 years

    December 22, 2017 9:51 PM 17

    Eric Schmidt is stepping down as the top boss of Google’s parent company after 17 years at the helm. The 62-year-old helped take Google from a start-up of about 200 people to a technology giant worth £550billion and employing 72,000. He oversaw its reorganisation into the Alphabet group two years ago, which separated the internet-related business from the other

  • UK household savings at 'historically low' levels as disposable incomes are squeezed

    December 22, 2017 1:17 PM 8

    Households are saving less, taking on more debt and reining in spending as a mix of Brexit-induced higher inflation, falling real wages and austerity measures weigh on family budgets. Official data out today paints the picture of a country where the recent growth in spending is becoming increasingly unsustainable as it has outstripped disposable incomes

  • 'Waitrose of the north' sinks to £15m loss after storm Desmond damages stores and sales fall

    December 21, 2017 10:06 PM 19

    Posh northern supermarket Booths has been plunged further into the red after poor sales figures saw its losses more than double. The results will ramp up concerns over Booths’ finances, with the Lancashire-based supermarket reportedly looking for a buyer after being operated as a family business for five generations. Dubbed the ‘Waitrose of the North’