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High Streets: ‘Catastrophic blow’ as business rates appeals denied

High Streets: ‘Catastrophic blow’ as business rates appeals denied

Business
Getty ImagesThe Treasury has been criticised for saying it will legislate to "rule out" Covid-related business rates appeals.Experts said the legal change on appeals would be a "catastrophic blow" for many firms hit by the property tax.Retail, hospitality and leisure have benefitted from a rates "holiday", which was announced at the start of the crisis.It will continue until the end of June, with discounts in place until next year.But many supply chain firms and commercial property owners have been ineligible for much of this support.The Treasury said those unable to receive rates relief have appealed against their bills as a result, arguing that they have been hit by a "material change of circumstance" due to the pandemic.But the government will now legislate to "rule out" Covid-19 relate...
BoB reduces repo-linked rates by 10 bps to 6.75%

BoB reduces repo-linked rates by 10 bps to 6.75%

Finance
MUMBAI: State-run announced a 10 basis points reduction in its repo-linked lending rate from 6.85 per cent to 6.75 per cent, effective from Monday. With this revision in Baroda Repo Linked Lending Rate (BRLLR), the lender is offering home loans at a rate starting from 6.75 per cent and car loans beginning from 7 per cent. Mortgage loan rates will start at 7.95 per cent and education loans at 6.75 per cent, the bank said in a statement. "This reduction in BRLLR makes our loans more affordable for customers. We hope that our efforts towards the digital processes help customers avail quick and smooth loans at the most competitive interest rates," the bank's General Manager (mortgages and other retail assets) Harshadkumar Solanki said. HV MR Let's block ads! (Why?) Personal Finance News-We...
Study finds high rates of heart disease among Hispanic men, women

Study finds high rates of heart disease among Hispanic men, women

Health
March 4 (UPI) -- More than half of Hispanic men, and nearly half of Hispanic women, in the United States have heart disease, according to an analysis published Thursday by the journal Stroke. Around 60% of Hispanic people also have high blood pressure or high cholesterol, two health problems that place them at high risk for heart disease, the researchers said. Advertisement "It's a wake-up call for the medical community [because] despite our best efforts, Hispanic and Latino populations still seem to be undertreated for their vascular risk factors," co-author Dr. Fernando D. Testai said in a press release. "I didn't expect the numbers to be so dismal," said Testai, an associate professor of neurology at the University of Illinois at Chicago. Researchers reviewed data from the Hispanic Co...

Fed’s Williams say high market prices justified by economic growth and low rates

Finance
New York Federal Reserve President John Williams said Friday that high prices for stocks and other assets are justified in light of a growing economy and low interest rate landscape.With stocks pushing to new heights on valuations not seen in decades, and as corporate bond yields plunge, the central bank official said he's not worried about current pricing."Market participants and investors around the world are looking ahead through this year and looking into an economy that hopefully have a pretty robust recovery and a strong expansion over the next several years, which would support stronger valuations," Williams told CNBC's Steve Liesman during an interview on "The Exchange."Major averages have managed to build on 2020's gains despite some nerve-jangling volatility.Fed policy of low rat...
Amazon criticised in paying lower rates than shops

Amazon criticised in paying lower rates than shops

Business
Getty ImagesAmazon has been criticised for paying less in business rates than British bricks and mortar retailers.The online retail giant's financial results revealed that UK sales for 2020 totalled $ 26.5bn (£19.3bn) - a 51% jump from $ 17.5bn in 2019.Amazon's overall business rates bill for 2020-2021 is estimated by researchers to be £71.5m - just 0.37% of its retail sales.They say this is far lower than what the retail sector typically pays.Amazon insists that it pays its tax and has created thousands of jobs in the UK.Sunak urges US to back digital services tax Amazon pays £290m in UK tax as sales surge to £14bnOnline shoppers warned about hidden price risesBusiness rates are calculated by looking at a property's rateable value and multiplying it by a tax rate set by the government. A ...