Bumi reveals $200m black hole in financial results

Scandal-hit mining group says it seeks to recover the $152m in 2012 and $49m in 2011 that had ‘no clear business purpose’Bumi, the scandal-hit mining group, has revealed a $200m (£130m) black hole at its main subsidiary, as it released much-delayed financial results for 2012.The FTSE-250 company – which has been dogged by a very […]
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Workers recognise the importance of unions in protecting their rights | Gregor Gall

Despite a rise in unemployment, union membership has also increased, reflecting the need for collective actionAgainst all the odds, union membership rose in Britain last year for the first time in a decade. According to the annual statistical report by the Department for Business, Innovation and Skills (BIS), membership for 2012 was 59,000 higher at […]
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Up to 3.5 million people owed tax refund, says HMRC

Revenue & Customs says up to 5.5 million taxpayers paid too much or too little in 2012-13Up to 3.5 million people unwittingly paid too much tax in 2012-13 and are owed refunds averaging between £350 and £500, HM Revenue & Customs has revealed.But there was bad news for 2 million others, who owe an average […]
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Amazon paid £3m tax on £4bn UK sales

Online retailer’s tax charge brings to £6m the total corporation tax raised from Amazon.co.uk in a decadeAmazon’s main UK subsidiary paid just £3.2m in tax last year, according to accounts filed on Wednesday, despite overall UK sales of £4.2bn.Amazon’s taxes for last year are only marginally higher than the £2.5m the company received in government […]
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Channel 4 content boost results in £29m loss

Record £434m investment in original programming, including Paralympics coverage, tips broadcaster into ‘temporary deficit’Read the Channel 4 annual report in fullChannel 4 has reported a loss of £29m for 2012, as intended, as part of a strategy of extra investment in content including its acclaimed London 2012 Paralympics coverage and building its digital audience data […]
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Number of first-time buyers taking on mortgages jumps 20%

Council of Mortgage Lenders says 19,100 home loans advanced to new buyers in March, up from 15,900 in FebruaryAmid signs that banks and building societies are becoming increasingly willing to offer larger loans, the number of first-time buyers taking on mortgages leapt by 20% in March, the Council of Mortgage Lenders has said.A total of […]
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Tory MP Stewart Jackson sued by expenses watchdog

MP refuses to pay £54,000 he allegedly made in capital gains on publicly funded homeA Conservative MP is being sued by parliament’s expenses watchdog after refusing to pay £54,000 he is alleged to have made in capital gains on his publicly funded home.Stewart Jackson, the MP for Peterborough, is facing the high court action from […]
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Personal insolvencies at five-year low

Number of people declared insolvent in the first three months of 2013 is down 12.9%, but industry body says this does not reflect the reality of life for many consumersPersonal insolvencies in England and Wales fell to a five-year low in the first quarter of 2013, latest official figures show, despite the ongoing squeeze in […]
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Lives will be lost if government scraps standardised cigarette pack plans | Suzi Gage

If the rumours are true, scrapping standardised packaging will be a backwards step for public healthThe Sun and the Financial Times both reported on Thursday that David Cameron is to end his support for introducing standardised packaging of cigarettes, claiming that it would damage the packaging industry – although, according to the Grocer, the government […]
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Rolls-Royce aerospace chief Mark King resigns

Mark King announces departure just four months after being promoted to division beset by corruption allegationsThe head of Rolls-Royce’s aerospace division has resigned just four months after being promoted to lead the division beset by bribery and corruption allegations.Rolls said Mark King, who joined the company in 1986, would leave by the end of June.Rolls […]
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