London’s Low Taxes Lure Foreign Companies As Banks Retrench

Norwegian Air to Link London Gatwick to New York, Florida

Still, London growth is outpacing the rest of the country. The citys economy will grow by 1.9 percent annually to 2018, 0.5 percent faster than the U.K. as a whole, the CEBR said this year. Part of the growth is coming from technology companies as London emerges as the undisputed European capital for Internet businesses. Both Amazon Inc. and Google Inc. ( GOOG:US ) are building large new facilities in the city, with the search giant pledging to employ 5,000 staff in a new office next to the renovated Kings Cross railway hub. While headquarters moves motivated in part by tax arbitrage dont necessarily bring many jobs to London, they at least create work for local professional-services providers like lawyers and management consultants, said Mark Gregory, the chief U.K. and Ireland economist at Ernst & Young LLP. Business Destination To be sure, Londons appeal as a business destination isnt assured. The opposition Labour Party has said it will reverse corporate tax cuts if it returns to government.

London’s Tech City picks first 25 firms for help to grow

CDT, October 16, 2013 LONDON (Reuters) – Tech City, a government-backed body promoting London’s technology hub, on Thursday picked a first 25 British-based online businesses, in sectors such as property, fashion and leisure, to receive help to grow into major companies. It chose firms including travel search engine Skyscanner, property business Zoopla and games company Mind Candy – with its Moshi Monsters brand – to get public and private support with the aim of becoming international companies that could eventually be listed or bought out by Internet giants. The programme involves the Tech City Investment Organisation, which was set up to attract investment to the “Silicon Roundabout” area on the edge of London’s City financial district. Its “Future Fifty” scheme was launched in April, by finance minister George Osborne and Tech City’s chief executive Joanna Shields, to mentor companies and provide business development assistance such as legal advice and accountancy. A second batch of 25 companies will be announced in December, Shields said. “The fact that we’ve got such a great cohort of companies moving through this programme … is testament to the fact that if you are going to start a business, this is a great place to do it,” said Shields, a former head of social media group Facebook’s operations in Europe. The year-long programme will provide press and promotional backing, educational content and specially designed events. London’s technology hub is attracting foreign companies, with Chinese mobile gaming company Rekoo the latest to announce it would open an office in the area. (Reporting by Li-mei Hoang and Paul Sandle; Editing by Anthony Barker) Copyright 2013, Reuters

Secretary of State Hillary Clinton gets ready to answer questions from a Chatham House audience, on Oct. 11, 2013, in London. (Peter Macdiarmid/Getty Images) Reported by ABC News Gemma Perlin: LONDON Hillary Clinton, in London last Friday to pick up a prize in recognition of her significant and impressive contribution to international diplomacy, was busted by a London traffic cop for an illegally parked Mercedes. Despite the raised voices of Clintons bodyguards, the parking police remained unfazed and would not retract the ticket, reported the Daily Telegraph. Daniel Astaire, a councillor for the borough that Clinton parked in, told ABC News that Clinton would receive no special treatment. The former U.S. secretary of state was parked for nearly 45 minutes without paying. Im sure she will understand that we have to be fair to everyone, regardless of their status on the world stage. Clinton was fined $128, but if she pays the ticket within 14 days, it will be knocked down to $64. The American Embassy in London, which owes $12.5 million in its own parking fines, according to figures from Foreign Secretary William Hague,would not comment on Clintons parking ticket, explaining that she was now a private citizen. Hillary will know as a former diplomat, one must get all their facts together, look for evidence, make an appeal quickly and perceive, Barrie Segal, a U.K. parking ticket expert, told ABC News.If that fails, I am happy to give her mobile number and chat about it.

GTY hillary clinton lpl 131016 16x9 608 Busted by London Traffic Cop, Hillary Clinton Gets No Special Treatment

787 jetliners. The Oslo-based company will add the services next July, serving New Yorks John F. Kennedy airport three times a week and the two other U.S. cities twice weekly, it said today at a press briefing in London. One-way fares will start at 149 pounds ($240) for New York, 199 pounds for Los Angeles and 179 pounds for Fort Lauderdale, 20 miles north of Miami. Theres great demand for high-quality flights at a low fare between the U.K. and the U.S., particularly to and from London Gatwick , where no other airline currently offers these routes, Chief Executive Officer Bjoern Kjos said. Norwegian Air, which will operate the trans-Atlantic services using a fleet of Boeing Co. (BA) 787 Dreamliner planes, is also adding flights from Gatwick to the Mediterranean islands of Corfu, Cyprus, Santorini and Sicily, and to Hungarian capital Budapest, while boosting frequencies on nine existing routes. To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net To contact the editor responsible for this story: Christopher Jasper at cjasper@bloomberg.net More News: