Day: October 3, 2020

Major overhaul of R&D tax credit reporting is critical to UK’s economic recovery

HMRC has this week published data showing the number of companies claiming Research and Development (R&D) tax credits and the cost to the Exchequer of providing that support.

But in a world focused on the now, this publication has underlined the woeful inadequacy of the figures, according to Jenny Tragner, director at R&D tax credit consultancy ForrestBrown and member of HMRC’s R&D Consultative Committee.

“We’re in the middle of the biggest public health and economic crisis of our generation,” Tragner comments. “R&D will quite literally be the solution to the pandemic, everything from helping businesses to reopen safely to the vaccine itself. And we know from harsh lessons learned during the previous recession that protecting private sector investment in R&D will also be critical to economic recovery. This annual survey should be giving us valuable insight into the state of business R&D in the UK, but it simply fails to

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Asda bought by billionaire Issa brothers in £6.8bn deal

Two billionaire brothers from Blackburn have won the battle to buy Asda from Walmart of the US, in a deal valuing the supermarket chain at £6.8bn.

A consortium of Zuber and Mohsin Issa and private equity firm TDR Capital will take a majority stake in Asda.

It means the grocer will return to majority UK ownership for the first time in two decades.

The Issa brothers own EG Group, which has more than 5,200 petrol stations across the UK and Europe.

A spokesperson for the Issa brothers and TDR Capital declined to comment on how they are funding the deal.

The auction process for Asda has lasted for several months. Walmart decided to sell a controlling stake in Asda after shelving plans to float the business following a failed £7.3bn merger with Sainsbury’s, which was blocked on competition grounds.

Walmart bought Asda in 1999 for £6.7bn and it will

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Mark my words podcast

Matt Mckenzie, Jordan Murray and Katie McDonald talk about Trump’s COVID test, McGowan’s border battle, WA secessionists, state budget, property projects, and special features on gold and tech infrastructure.… Read More

CoinDesk reporter Baker departs – Talking Biz News

Paddy Baker

After covering crypto for nearly three years at Crypto Briefing and CoinDesk, reporter Paddy Baker is leaving CoinDesk to work on a new project.

Prior to joining Crypto Briefing, where he held served as a journalist, a senior journalist and an associate editor, Baker was with The Market Mogul where he was responsible for the website’s content, wrote on a variety of business news while specializing in cryptocurrency.

He has also worked at Backbench as an editor and commentator and has also worked at The Tab London for more than two years, joining as a features editor and then holding the post of deputy editor, then news reporter before becoming editor.

Baker is a graduate of UCL.

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