Business Today

Thursday, May 17th

Last update06:10:08 PM GMT

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Down and ‘Almost’ Out – Sony needs to be ‘Cool’ again

Taxable Charity: A Costly Donation

The Chinese Economy: On the verge of a Slowdown?

Automate Payroll Process - Get Payroll Software

Sovereign Debt crisis – The Survival of a single currency

Europe

Taxable Charity: A Costly Donation

Honorary Chancellor George Osborne presented the United Kingdom’s budget for the year 2012-2013 on 21st of March 2012. Apart from the announcement of major economic reforms his budget got a mixed response from the Private Sector and Government Establishments. However, shocking news for the philanthropists and charitable trusts is that now onwards the donations will attract a cap of £ 50,000 or 25 % of the total income on tax relief. The Charities Aid Foundation (CAF) has expressed its concern over this government regulation saying it might discourage major donors who wouldn’t be so keen to donate because of this new tax reform.

Saab wins $70m lifeline from private equity car-lover

Cash-strapped vehicle maker Saab has secured a $70 million investment from a United States private equity group. North Street Capital is paying $10 million for 2.38 million new shares in Saab's parent firm, Swedish Automobile. It is offering additional $60 million as a loan.

Nokia Swings to Loss, Sales Decline by 13%

Mobile phone maker Nokia has whispered that it made a loss in the 3rd quarter as it continued to come under pressure from other cell phone makers. It swung to a net loss of 151 million euros in the 3 months to September, from a 322 million-euro profit in the similar period.

SABMiller to buy stake in Turkish beer Efes

SABMiller is to take a minority stake in Anadolu Efes (Turkish brewing group) as the 2 firms aim to increase sales in Russia, other previous Soviet states, the Middle East and Turkey. Under the deal Efes will shift a 24 percent stake in its business to United Kingdom-based SAB. No monetary details of the agreement have been unconfined.

BSkyB profits rise despite slowdown in subscriber growth

BSkyB has registered a boost in first-quarter earnings with more consumers purchasing broadband. The satellite broadcaster, which also proffers internet and telephony, registered a 32 percent increase in operating profits to £327 million for the 3 months to September 30. A boost of 150,000 broadband subscribers made up for an anticipated downturn in new subscribers.