Sainsbury’s and Marks & Spencer clash over online tax plans | supermarkets

A battle is shaping up between major retailers over whether the UK should introduce an online sales tax, with Sainsbury’s demanding it to help revive struggling high streets while M&S argues it would have the opposite effect. A day before the government’s three-month consultation on changes to business taxes closes, the finance director of Sainsbury’s … Read more

National Grid defends move to limit UK LNG imports

National Grid defends move to limit UK LNG imports

The chief executive of National Grid has defended the company’s decision to limit imports of liquefied natural gas arriving on the UK’s west coast, despite coming under fire from energy companies including Germany’s RWE. The FTSE 100 company last month applied to Britain’s energy regulator to limit LNG capacity arriving at facilities in south Wales … Read more

Apple and Samsung users closer to £500m payout

Apple and Samsung users closer to £500m payout

Which? claims consumers buying Samsung and Apple smartphones since 2015 lost out due to Qualcomm royalty policies. Photo: Mike Segar/Reuters Consumer group Which? has been given the go ahead by a UK competition tribunal to press on with a class suit against Qualcomm (QCOM), putting Apple (AAPL) and Samsung (005930.KS) costumers in line for a … Read more

Banks ordered to pull staff out of the City in EU power grab

Banks ordered to pull staff out of the City in EU power grab

Eight banks have been ordered to shift staff out of London by European regulators as part of a Brussels power grab. The European Central Bank (ECB) said it had identified 56 groups of traders who should be doing their jobs from within the European Union following a lengthy investigation into whether the institutions are seeking … Read more

IMF chief warns of multiple inflationary shocks amid market jitters | Global economy

Global finance leaders should prepare for multiple inflationary shocks, the head of the International Monetary Fund has warned, as fears of a global economic downturn continue to hit markets around the world. The IMF’s managing director, Kristalina Georgieva, said it is becoming harder for central banks to bring down inflation without causing recessions. Speaking at … Read more

Mercedes launches exclusive Mythos brand in radical luxury shift

Mercedes launches exclusive Mythos brand in radical luxury shift

Mercedes-Benz has launched a dedicated brand for “highly exclusive collectible cars”, Mythos, as part of its push to boost top-end vehicle sales by 60% from 2019 to 2026. Announced today as the German firm outlined its long-term product strategy plans, Mythos will produce low-volume special vehicles for “the most dedicated enthusiasts and collectors of Mercedes-Benz”. … Read more