Pick of the press: Thursday 20 May 2010

Speaking at the CBI’s annual dinner last night, chancellor George Osborne said Britain was “open for business” and that he is going to kickstart a five-year plan to overhaul the corporation tax regime, although any changes would “protect manufacturing industries”.

Daily Telegraph – George Osborne’s ‘best in G20’ pledge on tax 

The Times – Corporate tax will be the lowest in G20, Osborne promises CBI

Financial Times – Osborne pledges tax protection for manufacturing 

The Guardian – Osborne tells CBI of five-year plan to cut corporation tax 

The Independent – Osborne: I will cut taxes to aid private sector recovery 

City AM – Osborne unveils company tax cut 

The Independent – David Prosser: The wrong kind of tax cuts if we want to rebalance the economy?

 

As luxury fashion chain Jaeger reports earnings up by 16 per cent, its owner, fashion entrepreneur Harold Tillman announced Jaeger is looking to expand its operations internationally, opening stores in Europe, the Middle East and North America, as well as launching a “boutique” Jaeger brand.

Financial Times – Jaeger buttons up for global expansion 

The Independent – Jaeger looks to international expansion 

City AM – Jaeger cashes in as luxury brands make a comeback 

The Times – Tale of two fashion chains

 

Research by the Offshore Valuation Group shows that the offshore renewable energy industry could generate the same amount of electricity a year by 2050 as one billion barrels of oil, and could create 145,000 new jobs. Offshore renewables is an interesting market, with many small entrepreneurial firms doing some great work. This report just highlights the opportunities available in this sector.

The Guardian – UK on course to reap massive renewable energy harvest 

The Independent – Britain’s offshore renewable energy worth a billion barrels of oil and 145,000 new jobs

 

A survey shows that 60 per cent of independent financial advisers are warning clients to get rid of investments that will be hit by a rise in CGT. Will you be selling anything?

City AM – Advisers tell clients to ditch investments that attract CGT

 

Paddy Power chairman Nigel Northridge has added the entrepreneur behind LOVEFiLM, William Reeves, to the Paddy Power board. This week, Paddy Power launched volcano ash betting, which allows punters to bet on certain airports being closed for at least one hour on specific dates this summer.

Financial Times – Betting power

 

Finally, John Shepperd-Baron, the inventor of the cash machine, has died, aged 84, after a short illness. After coming up with the idea, he sold it to Barclays, which opened the first ATM in Enfield, North London in 1967.

The Guardian – Inventor of the cash machine dies

 

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