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The Times - Markets
Wed, 10 Mar 2010 15:05:11 GMT
Chinese trade surged last month following the country’s rise in bank lending, leading economists to predict a strong increase in exports over the course of 2010.
Wed, 10 Mar 2010 14:26:09 GMT
Japan's gambling industry is expected to be an unlikely beneficiary of a national child subsidy scheme, which aims to shower parents with cash and encourage young couples to start families.
Wed, 10 Mar 2010 14:19:18 GMT
Tullow Oil, the Africa-focused oil explorer, said that a huge new oilfield in Ghana contains at least 60 per cent more crude than previously thought.
FT News - Markets
Wed, 10 Mar 2010 19:45:24 +0000
A revival of takeover speculation helped the FTSE 100 hit an 18-month high, but Inmarsat was left behind
Wed, 10 Mar 2010 19:08:03 +0000
The former chief executive of ITV is to take over as executive chairman as the music group, owned by private equity house Terra Firma, seeks to raise£120m in new funds
Wed, 10 Mar 2010 17:33:27 +0000
The planned global alliance between British Airways, American Airlines and Iberia moves closer to securing regulatory approval as European officials begin testing the concessions offered by the airlines
Wed, 10 Mar 2010 14:15:25 +0000
The UK banking group is looking at buying a large US retail bank as it tries to rebalance its business away from a booming investment banking franchise
Wed, 10 Mar 2010 00:49:24 +0000
The motor dealership moves to a profit on the back of a good performance from its parts and servicing division as consumers opted to refurbish old cars rather than buying new
Budget 2009 - Key points for small businesses
Here are some of the key points from the Chancellor's Budget speech - this page will be updated throughout the day.
Economic Outlook
- Chancellor expects to see economic growth returning by the end of 2009
- Predicts growth of 1.25% in 2010
- Growth of 3.5% from 2011 predicted
- Public borrowing is set to increase to a record £175bn in 2009, followed by £173bn in 2010 and remain over £100bn/yr for a further two years
- Inflation may fall to around 1% by the end of 2009, although RPI may fall to -3% before moving back to zero in 2010
- Chancellor expects the Government's recent economic measures will safeguard 500,000 jobs
General Measures
- Additional support for long-term unemployed, more funding for Jobcentre Plus, training and skills
- Sub-£175,000 properties continue to be exempt from stamp duty until the end of 2009
- Car scrappage scheme from next month until March 2010 to encourage people to trade in old cars for new ones
- Annual limits for ISAs will be increased to £10,200 per year (£5,100 for Cash ISAs) from 2010 (earlier for those over 50)
- Alcohol and tobacco duties will go up by 2%
- Fuel duty expected to go up by 2p per litre from September
Taxes
- Incomes over £150,000 per year will be taxed at 50% from April 2010, with a 42.5% rate for dividend income
- Tax allowances to be restricted for those with incomes over £100,000 per year
- Pension tax relief restricted for those with incomes over £150,000 per year from April 2011, and tapered down until it is 20%
- Chancellor announced another crackdown on 'tax avoidance' schemes
Business Measures
- The standard rate of VAT will remain at 15% until December 2009, and return to 17.5% from 1st January 2010
- Statutory redundancy pay will rise from £350 to £380 a week
- The VAT registration threshold will rise to £68,000 from 1st May 2009
- HMRC's Business Payment Support Service to be expanded
- Top-up trade credit scheme to top up deficits in private sector credit schemes
- Chancellor will double the main capital allowance rate to 40% to encourage firms to bring forward investment
- An extension of the three-year carry back, meaning loss-making businesses can reclaim taxes on profits made in the last three years. It will help lots of businesses, but it was expected and is simply an extension of an existing measure.
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