Ryanair is set to pay its first dividend to shareholders, worth some €500m, since it floated nearly ten years ago – a move likely to benefit Ryanair founder Michael O’Leary by some €20m. The Irish budget airline announced the payment as it reported it had swung from a record loss a year ago to one of the largest profits any European airline has made during the economic downturn.
The Times – On the up: Ryanair flies back into profit
The Independent – O’Leary nets €20m from Ryanair’s first dividend
Daily Telegraph – Ryanair’s dividend is finally cleared for landing
Financial Times – Ryanair to pay first dividend since flotation
Britain’s manufacturing industry is “now recovering its losses at a surprisingly rapid pace”, seeing the purchasing managers’ index remain at 58, the same level as April, and at its highest in 18 years. Any figure above 50 indicates an increase in business activity. This is good news for the British economy, as it it shows that exports are picking up, too.
Financial Times – Industrial growth drives recovery hopes
Following an interview with business minister Mark Prisk, the Telegraph’s Richard Tyler is confident that entrepreneurs will be protected from the proposed increases in CGT. “What Prisk is saying is that the Conservatives understand that a competitive rate of tax on business assets is important and that they will not do anything to undermine that position.”
Daily Telegraph – George Osborne will give Capital Gains Tax relief to entrepreneurs
FT columnist John Kay asks how capital gains ought to be taxed. He argues that those who are taxed on capital gains tend to be richer, as capital gains accrue to people who already have capital. “Most of us wish the people who build up successful businesses well, and hope there will be more of them. But day traders and people who invest their inheritance in gold bullion also hope to be recipients of capital gains, and it seems wrong to tax them more lightly than those who work all day for the same money.”
Financial Times – The issue of capital gains need not be so taxing
In his regular column, serial entrepreneur Luke Johnson discusses how although large corporates attempt to encourage entrepreneurialism within their organisations, this is a waste of time – they cannot replicate what entrepreneurs do. The corporate environment is not conducive to entrepreneurialism.
Financial Times – Risk-takers rarely fit corporate culture
Britain is still the most attractive country for international companies looking to invest in Europe, according to the latest European Attractiveness survey from Ernst & Young. The survey, which looks at a range of different forms of inward investment into Europe, found that for the eighth year in a row the UK has been found to be the preferred destination for foreign investors.
The Guardian – Britain top in Europe for attracting foreign investment
Daily Telegraph – UK is still top for European investors
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