Finance

HMRC chief Lin Homer to step down

Head of HM Revenue and Customs quits after fierce criticism from MPs over failure to answer 12m tax phonecalls and furore over lenient settlements HMRC chief Lin Homer will leave her post in April. Photograph: PA The chief executive of HM Revenue and Customs, Lin Homer, is leaving the role after four years in which she faced fierce criticism over ... Read More »

A music company just paid $35m for the Offspring’s catalogue. Why?

The subterranean world of catalogue rights is generating big bucks for traders and bands alike – no wonder a past-their-best punk group are willing to sign away the rights to their music In the money … the Offspring. Photograph: Rex Features When was the last time you thought about the Offspring? Maybe when Pretty Fly (For a White Guy) topped ... Read More »

Clive Selley named new BT Openreach boss

Appointment comes a month before business could be forced to split from telecoms giant over competition concerns Clive Selley is due to take over from Joe Garner in early 2016. Photograph: Liam Bailey/BT BT has appointed a new boss for its Openreach business, a month before it could be forced to give up the broadband network division altogether. Clive Selley, ... Read More »

Taxi app Hailo needs new funding after £22m losses in 2014

Cab hailing company needs a cash injection in the next three months to continue as a going concern, according to auditor’s report on latest accounts A yellow London taxi cab operated by Hailo stands outside store in 2014. Photograph: Bloomberg/Bloomberg via Getty Images Cab-hailing app Hailo only has enough cash to operate as a going concern for another three months, ... Read More »

M&S gets the knives out for ‘simple white bread’

M&S is scrapping simple white bread in favour of a fibre-enriched alternative. The bog-standard white sliced loaf may be in decline, but it still has some surprising fans Is it toast for the modern-day white loaf? Photograph: Alamy Amid other sad news on Monday came the announcement that sliced white is toast. Well, it is at M&S anyway, with the ... Read More »

Michael Gove to meet G4S over abuse claims at young offenders centre

Justice secretary says he will discuss the allegations, which have led to suspension of seven staff at Medway centre in Kent Prisons and Ofsted inspectors have visited the Medway secure training centre in Rochester. Photograph: Gareth Fuller/PA The justice secretary, Michael Gove, is to meet G4S private security chiefs this week over the suspension of seven members of staff following ... Read More »

Rolls-Royce Motor Cars ends five years’ growth after China sales slump

Luxury car maker reports 54% drop in sales to China, now relegated to its third largest market behind US and Middle East Workers polish a Rolls-Royce Ghost at the company’s factory in Goodwood, West Sussex. Photograph: Bloomberg/Getty Images A major slump in sales in China has ended five years of growth for Rolls-Royce Motor Cars. The slowing Chinese economy and ... Read More »

Yen buoyed as growth concerns fan risk-averse mood

A woman counts Japanese 10,000 yen notes in Tokyo, in this February 28, 2013 picture illustration. REUTERS/SHOHEI MIYANO The yen held firm near multi-month highs against major currencies on Wednesday as concerns over sluggish global growth and choppy oil and financial markets prompted investors to seek shelter in the low-risk low-return currency. The U.S. dollar traded at 119.08 yen JPY=, ... Read More »

Bank of England approves capital calculation models of 19 insurers

insurance British insurers Aviva and Prudential and the Lloyd’s of London insurance market were among 19 firms to have their capital calculation models approved by the Bank of England on Saturday, enabling them to lower costs under new rules. Approval means the insurers can use their internal models to determine how much capital they hold to ensure they can meet ... Read More »

Exclusive – Dalian Wanda clinches deal for Legendary Entertainment – source

Chinese property and investment firm Dalian Wanda Group has agreed to acquire a majority stake in Legendary Entertainment, valuing the U.S. movie studio company at between $3 billion and $4 billion, according to a person familiar with the matter. The move represents Wanda’s latest bid to expand overseas and become a major player in the U.S. entertainment industry following its ... Read More »