Author: Editor - Business News

UK could need ‘5,000 more customs officials after Brexit’

UK could need ‘5,000 more customs officials after Brexit’ 15 September 2017 From the section Business Related Topics Brexit Image copyright Getty Images The head of the UK tax agency has said Britain could need up to 5,000 extra staff to handle customs and border checks after Brexit. HRMC boss John Thompson also said a new customs arrangement with the EU could cost as much as £800m and take seven years to implement. Speaking before the Treasury Committee, he said HMRC did not have the money at this point to make the changes. But he said there had been...

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Watchdog refuses to publish RBS letter

15 September 2017 From the section Business Image copyright Getty Images The financial watchdog has refused to publish in full a leaked report into a scandal at RBS’s Global Restructuring Group (GRG). The Financial Conduct Authority (FCA) said publishing it would risk revealing confidential information. The report, shared with the BBC last month, accuses RBS of mistreating businesses – claims the bank denies. It follows demands for its release by the Treasury Select Committee chair Nicky Morgan MP. The FCA has promised instead to publish a summary of the report’s findings, verified by external lawyers. But Ms Morgan said...

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Oracle’s profit, cloud growth forecasts drag down shares

Analysts on average were expecting 68 cents per share, according to Thomson Reuters I/B/E/S. Oracle – a late entrant to the cloud market – has been aggressively pushing into the business as more and more clients ditch the costlier software licensing model. “It is natural to expect cloud revenue to decelerate as Oracle grows its cloud revenue off (a) bigger base,” said Wedbush Securities analyst Steve...

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