US multinational buys into UK rehab centres as demand grows

Emma Wade-Smith

The UK private rehab market is set to grow exponentially, one of the largest addiction firms in the country has said after receiving US investment. Addiction treatment centres have reported increases in the number of people seeking help, and concerns have been raised that cuts to drug and alcohol services mean some addicts are being […]

Amazon UK tax bill falls despite profits leap

Amazon UK's Tax Bill

Online retail giant Amazon’s UK tax bill fell last year despite a near-trebling of profits. Amazon UK Services bill was £4.6m, down from £7.4m a year ago, accounts show. But the division, which operates the warehouse “fulfilment centres”, was able to defer £2.9 million. It meant that the company has paid £1.7m in tax for […]

Cadbury to launch new Dairy Milk bar with 30% less sugar

Cadbury

Cadbury is launching a new Dairy Milk bar with 30 per cent less sugar as part of industry efforts to tackle the obesity crisis. Fans of the original, however, have no need to fear as Cadbury, which is owned by Mondelez, will continue to produce it. Glenn Caton, president of Mondelez’s Northern Europe division, said […]

Tech giants to boost UK economy with 1,600 jobs

The UK is set to benefit from 1,600 new tech jobs as part of a £2.3bn investment from private companies including cloud giant Salesforce, the prime minister announced Tuesday. Theresa May announced the multi-billion pound investment from US tech companies and venture capitalists ahead of a meeting with tech leaders in Number 10 tomorrow. US […]

UK momentum will bounce back, BoE’s Carney says

Mark Carney, Bank of England governor, has said the overall economic climate in the UK looks “little changed” in the eyes of the central bank’s monetary policy committee despite the economy has failed to meet the projections made in the February inflation report. “Three months ago the tightening guidance was explicitly conditioned on growth evolving […]

Eurozone GDP slows, but beats UK economy

The Eurozone’s economy slowed during the first quarter of 2018, according to a report by Eurostat. Eurostat had recorded an estimated slowed growth to 0.4 percent during the first quarter as against the 0.7 percent in the previous quarter. However, it is reported to have fared better than the UK economy which was reported to […]

UK economy slows at 0.1% in Q1 2018, lowest q-on-q growth since 2012

Brexit fears

The British economy grew at its slowest quarterly rate in more than five years at the start of 2018, according to a preliminary estimate from the Office for National Statistics released Friday. Gross domestic product — the most widely used measure of economic growth — increased just 0.1% in the quarter. Growth in the final […]

UK fintech industry under pressure as young coders shun London over Brexit

Mines

British financial technology companies are worried that Brexit is causing a shortage of software engineers and pushing up salaries in the sector, prompting some of them to open offices elsewhere in the EU, reports the Financial Times. Mike Laven, chief executive of Currencycloud, said that the UK-based payments company was planning to open an office […]