By Susan in News on August 25 2010
Paddy Power may be known as the Irish bookmaker that doesn’t take itself too seriously, but the company has warned that this may be about to change if plans for online gambling taxation is made into a reality.
The bookie has said that the proposed 750 new jobs it was looking to create may be put on hold should the gambling tax be enforced in Ireland.
Paddy Power’s chief executive, Patrick Kennedy, explained:
“We don’t have an issue with paying betting taxation. Our issue is if we have to pay it solely because we employ people in Ireland.”
The bookie has enjoyed incredible success over the past few years with many UK customers switching from rival operators to bet on the football World Cup in June.
By Matthew in News on August 23 2010
Despite suffering a drop in admission figures, Cineworld profits have actually increased, thank to moviegoers coughing up more dosh to see their favourite films.
The higher profit levels and box office takings between January and July 2010 have been put down to a rise in ticket prices to see 3D hits such as Avatar.
The average ticket price was £4.93, up from £4.59 last year and helped to offset a fall in admissions which were just 22.7 million, although this low figure has been attributed in part to the World Cup in South Africa.
The growing number of 3D films should ensure the second half of the year is a positive one, with 252 out of Cineworld’s 268 screens now being 3D-enabled.
By Matthew in Economy on August 9 2010
The Coalition Government has sparked a new outcry from university leaders who fear that should a tax system be introduced, it would almost probably favour foreign students over those from Britain.
The Government has been looking at new ways to raise university funds and this system would ensure that graduates would pay the tax through their working lives in return for a high level of education.
Wendy Piatt, the director general of the Russell Group, said:
“A graduate tax could also discriminate against British graduates who would pay over a lifetime, while other beneficiaries of UK degrees - as well as British expats - may be able to avoid paying entirely.
“It would be difficult in the extreme to levy and collect a tax from graduates living and working overseas. A graduate tax would introduce perverse incentives for our best graduates, both home and EU, to move abroad and deprive the UK of vital skills and knowledge.”
By Matthew in News on August 4 2010
recent survey conducted by Swinton Commercial, the commercial vehicle insurance retailer, has revealed that the iconic black van of the A-Team is the UK’s most popular vehicle from the movies.
The online research, which took in the views of 1,200 customers for their most loved cars and vans in film, saw the van from the 80s TV series draw in 32 percent of the vote.
The GMC Vandura van, which is distinctive by its trademark red stripes, took the top spot in the poll by an 11 percent margin in the end beating Herbie’s Beetle.
Commercial Vehicle Manager at Swinton Commercial, Phil Moss, said:
“The A-Team is still one of the most iconic TV series of all time, and this week’s release of the film version means that a whole new generation are likely to become fans of the famous red and black GMC! The poll of our customers also shows that vans are still the choice that stands the test of time when it comes to our favourite movie vehicles.”
Other famous vehicles in the top ten were the DeLorean from Back to the Future (with 8 percent of votes), KITT from Knight Rider (10 percent) and the Ferrari 250 Spyder from Ferris Bueller’s Day Off (1 percent).
By Susan in Economy on February 28 2010
Retail sales suffered in the period after Christmas, with sales being 1.8% lower in the period between December and January. This is one of the biggest drops in the past year and a half.
It is thought that the sharp decline was due to the severe winter weather and snow that caused national disruptions throughout the UK. Despite the fall in sales numbers, the actual sales by value was up by 0.9% from the previous year.
According toan economic specialist there is now a risk of a double-dip in the UK economy, meaning that it comes out of recession then deteriorates again straight afterwards.
By Matthew in Uncategorized on February 26 2010
Last year saw a greater number of resignations by company managers than in the same period a year before. In the 12 months leading up to January 2010 a survey by The Chartered Management Institute (CMI) discovered that 225,600 (4.7%) quit their jobs, compared to 4.5% in the 12 months prior to this.
This comes despite the economic downturn over the last year that has affected countries worldwide. A salary survey by CMI showed that managers with the job role of team leaders earned an average salary of £43,119 a year, while junior managers got £21,876.
By Sophia in Uncategorized on February 23 2010
After it was cancelled at the last minute due to being illegally voted upon, the previous BA strike had little impact. The strike was originally set to take place during the Christmas break of 2009. However, BA bosses have once again got their hands full as the cabin crew have once again vote for a strike, this time it seems technicalities won’t prevent it going ahead.
Unite, the union representing the workers at British Airways, has said it will not select dates yet as it hopes the fact the vote was passed by a majority will persuade negotiations to restart. The strikes came into affect due to cost-cutting measures put into place by the struggling airline company. Cabin crew numbers were reduced and a pay freeze has been initialised for the next two years.
By Sophia in Employment on February 15 2010
The United Kingdom officially left behind recession status at the end of 2009 after finally managing to gain some positive growth (0.1%). Despite this turn for the better though, employment levels are still rising with a third of public sectors planning to cut jobs in the short term.
It is thought that of all the public sectors, defence will be amongst the worst hit, following news of funding and budget shortages over that area.
The private sector is showing more promise, even displaying prospected rises in the number of employed, however there are growing fears that companies will begin to outsource more work to save money.
At the moment there are 2.46 million unemployed throughout the UK, with some saying this number may rise when the latest figures are released this Wednesday, 17th February.
By Sophia in Economy on February 5 2010
British Airways has reported a pre-tax loss of £50 million during the third financial quarter of 2009/10 according to BBC news. The loss recorded by BA from October 2009 to December 2009 was actually lower than expected.
Despite announcing that the company beat analysts expectation of up to £151m in losses, British Airways has said it will still be cutting 1,200 jobs as they announced back in November 2009. This is due to the business making a loss of £342 million in the first three quarters of 2009, up from a loss of £80 million in the same period a year earlier.
By Susan in Uncategorized on January 31 2010
Online retail website, Amazon, has posted profits for the fourth quarter of 2009, which were up by as much as 71% during the Christmas period.
Amazon is thought to have achieved the high profits after offering an enhanced free delivery service over the holidays, as well as actively competing in a wide array of different retail sectors.
The worldwide online retailer’s profits rose from $225 million in the fourth quarter of 2008 to $384 million in the same period of last year (2009).
Amazon has stated that they expect to continue their positive trend throughout 2010 after they gained market share over their closest competitors.
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