Content About United Kingdom

Fresh & Easy division, with Tesco CEO Philip Clarke traveling to the United States next week to try and strike a deal, according to a report in the British newspaper, The Telegraph. Tesco has held discussions with Trader Joes and others about selling Fresh & Easy, but a break-up of the business is considered the most likely option, the report said. Other options include closing the business and selling off assets. March 26, 2013 7-Eleven will rebrand convenience stores in Ohios Cuyahoga and Lorain counties as part of a 19-store lease from Allentown, Pa.-based Lehigh Gas Partners LP. March 22, 2013 Report: Tesco uncertain of commitment to Fresh & Easy In another sign that British retail giant Tesco is reconsidering its U.S. Fresh & Easy division, the company sent an email sent to shoppers in which it acknowledged that the grocer doesn’t know “if Tesco will continue to own the company,” the Los Angeles Times reported. March 15, 2013 Safeway Inc. said that Bruce Everette, 61, is retiring as EVP retail operations after a 44-year career at Safeway. March 1, 2013 Marks & Spencer to unveil green lease policy for stores Marks & Spencer, one of the leading retailers in the United Kingdom, is set to unveil a new property lease policy under which all new M&S stores will have green clauses as standard enabling landlords and tenants to better manage a building’s environmental performance. January 31, 2013 John Lewis department stores said Thursday it has appointed Mark Lewis as online director for the chain, effective March 4. January 29, 2013 A report by Bloomberg said that Tesco Plc may be recovering from its financial doldrums, as the countrys largest supermarket chain has matched market growth for the first time in more than 18 months. January 3, 2013 The hunt is on for a new chief executive at Safeway following the resignation of longtime chairman and CEO Steve Burd. December 7, 2012 British billionaire Sir Philip Green, the owner of the Arcadia retail group, sold a 25% stake in his fast-fashion Topshop and Topman retail chains to Los Angeles-based Leonard Green & Partners for about $805 million. December 5, 2012 Multiple reports on Tuesday said that British billionaire and Topshop owner Sir Philip Green is negotiating with Leonard Green & Partners to sell a 25% stake in the TopShop and Topman chains.

Gap Between United States & United Kingdom Remains Wide for Crowdfunding

July 9, 2013 General Mills executives shared the company’s new product innovation plans during General Mills’ annual investor meeting at the New York Stock Exchange. June 26, 2013 Teva Pharmaceutical Industries and Mylan have launched generic versions of Pfizer’s Viagra in nearly a dozen European countries, the two companies said. June 21, 2013 A study published on bmj.com this week found that taking iron daily during pregnancy is associated with a significant increase in birth weight and a reduction in risk of low birth weight. June 12, 2013 Workers for Iran’s airline and embassy in Japan will have to go somewhere else for their big packages of paper towels. June 7, 2013 Rare diseases burden patients, caregivers For those suffering from heart or lung disease, cancer, systemic infections or other all-too-common conditions, the science of medicine has made extraordinary advances over the past few decades. But millions of patients afflicted with an uncommon and little-understood disorder often are consigned to the far margins of medical care, in many cases, for years. May 29, 2013 Domtar Corp. announced the signing of a definitive agreement for the acquisition of privately-held Associated Hygienic Products, a manufacturer and supplier of store-brand infant diapers in the United States, from DSG International for $272 million. May 9, 2013 Cider may be the most exciting new segment in the beer category. A recent report from Mintel indicated that in the United Kingdom, the market penetration of cider is now equal to lager. May 8, 2013 TripAdvisor on Wednesday named Purell Advanced Hand Sanitizer “best hand sanitizer” as part of the travel site’s second annual Travelers’ Choice Awards for Travel Favorites. May 2, 2013 Drug makers Boehringer Ingelheim and Eli Lilly have started a campaign designed to educate healthcare professionals about the role a type of protein plays in maintaining blood-sugar balance.

Prior to this change investors in both countries could simply self-certify as either sophisticated (in the UK) or accredited (in the US). While both countries still allow for self-certifications, in the US the onus for verifying accreditation has now been placed squarely on the companies seeking funding leading many to require proof or risk a downstream backlash from investors who later turn out to be un-accredited and claim to have been sold / mislead on what they were getting into. For the time being, the UK has a slightly more relaxed approach to handling the certification and to where the blame is put down the line if itturns out the investor is not actually sophisticated. Speaking about regulation is not the main point of this missive. Even if regulations were identical (which they will eventually approach) there are a number of initiatives taking place in the UK which keep the UK on the cutting edge of equity crowdfunding and will ensure that the proportion of the population involved in equity crowdfunding will remain higher than that of the US. I use proportion here as the size of the US Market is roughly 5x the UK market which would make comparing on absolutes a bit lopsided. With that in mind, here are a the top 3 reasons the UK will continue to lead: Government tax incentives for investing in start-ups: While the US has flirted with tax incentives in the form of reduced capital gains tax on early stage venture investments and even reduced capital gains on these investments to Zero for a short period of time as a part of the Small Business Jobs act of 2010, the UK governements Enterprise investment Scheme (EIS) and Seed Enterprise Investment Scheme offer not only Capital Gains Reductions but also tax liability reductions and loss relief in the event that the start-up fails. For investors who dont owe capital gains, the SEIS relief can cover over 70% of the investment meaning investors are only at risk for 30% of what they put up. Fewer Angel Investors: The UK Business Angel Association sticks Angel Investment in the UK at roughly 850 Million per annum. In the US the figure has surpassed the $20 Billion mark and is continuing to grow. Where most would look at this as a negative, for crowdfunding this is actually a positive as there is a large unfilled need for seed capital which can be filled by the crowd. History: Now this point is contentious but worth mentioning. Companies in the UK have had a longer time to get it right and will be able to export their more refined models to the rest of the world more quickly than those in the US. Even as we speak many of the big names in the UK are receiving authorisation to operate in many EU countries and its just a matter of time before we see intra-EU investment rounds being completed.

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