The UK Economy

Flat taxes on income; 20% for earnings of £10k plus, 30% for over £50k, and 35% Ahead of the publishing of ADVFN’s Alternative Budget 2013 we ask legendary trader Robbie Burns, the Naked Trader, for his thoughts on what Chancellor George Osborne should be announcing next Wednesday. – Cut taxes and introduce flat taxes: For one […]

The Fairpoint Group impressed investors today with year end results that included a whopping 87% increase in pre-tax profit.  I was going to say that the group, which was founded in 1997, floated on the AIM market in 2002, and renamed as Fairpoint in 2008, has found it’s niche.  But I think it may be […]

Despite an uncertain global economic environment, international financial services group, Prudential plc (LSE:PRU), managed make a profit for the fourth consecutive year since its loss in 2008, the UK-incorporated firm said Wednesday. In its full year results released earlier today, the insurance and asset management group reported statutory pre-tax profit of £3.188 billion in 2012, […]

Concern grows that the United Kingdom is heading towards a triple dip recession The pound sterling has fallen to a two-and-a-half year low of 1.4832 against the United States dollar following news that the UK’s manufacturing sector fell by 1.5% during January. Whilst the pound regained lost ground to close trading at $1.4902 the decline […]

BP and GlaxoSmithKline lend support to David Cameron’s policy The chief executives of FTSE firm have written to the Financial Times declaring their support for the UK government’s foreign aid policy. Signed by BP’s Robert Dudley, BT’s Sir Michael Rake, and GlaxoSmithKline’s Sit Andrew Witty the letter argues that “Developing countries become emerging economies and […]

For the first time in history, Barclays plc (LSE:BARC) revealed to the public details of how much the bank paid its employees, showing that there were in all, 428 people who received at least £1 million in 2012. The move was in response to the call of transparency by British bank’s new Chairman of the […]

Some 650 workers are at risk of losing their jobs after the UK Coal Mine Holdings announced earlier today they are closing down the Daw Mill colliery in Warwickshire, England following a fire deep into the coal mine that continues to burn “ferociously” to this day. In a statement, Chief Executive Kevin McCullough said the […]

Sir Mervyn King has taken his seat at the table opposite Stephen Hester.  He has put on his best poker face and has suggested that it’s time for RBS to fold this hand. King watched the RBS boss lose £5 billion at the table in 2012 and more than £34 billion since sitting at the table in […]

ADVFN believes in a long-term approach to investing.  I believe in a long-term approach.  According to an independent review by Sir George Cox, he and the Labour Party believe in it also.  The problem is, as the report points out at the very outset is that UK business has become entrenched in short-term strategies.  When […]

The anti-money laundering settlement of HSBC Holdings plc (LSE:HSBA) back in December 2012 barely made a dent on Europe’s largest banking institution as it revealed its profit for last year, despite having missed market expectations. Deducting tax, HSBC group posted US$15.3 billion profit, nearly eight times more than US$1.92 billion the bank had to absorb […]