London Cabs Will Promote Philadelphia

London to Become Hub for China’s Yuan

There is definitely a swing back to the U.K. under way and I think there will be more, said Angus Winther, a senior adviser at investment bank Evercore Partners Inc. in London. There are huge advantages: you have a vast talent pool, infrastructure, language, and lowered tax rates. Last year 45 foreign companies moved their global or regional headquarters to London, up from just 25 in 2009, data from research group FDI Markets show. Among the moves this year: General Electric Co.s oil and gas unit, which is departing Florence, Italy. Tax Rates While Londons many cultural opportunities, theater and good restaurants are a draw, a series of cuts in corporate income tax rates by the Conservative Party-led government has been a key motivating factor. The U.K.s base corporate rate is now 23 percent, down from 28 percent in 2010. By 2015, the rate will drop to about 20 percent, compared with about 29 percent in Germany and about 33 percent in France. The U.S. rate is 40 percent, though deductions mean few companies pay that amount. Five or ten years ago, a lot of companies were thinking about moving to places like Ireland or the Channel Islands , said Dan Schuster-Woldan, a partner at law firm Linklaters . Things have changed. There are now fewer companies going that route because the tax differential is lower. Tax Neutral Noble is one example. Chief Executive Officer David Williams said in July the move would be tax-neutral for the company — showing how U.K. tax changes have made the country comparable with Switzerland.

Michael Mhangami has won numerous junior tennis awards in the UK 16/10/2013 00:00:00 Multi award winner … Michael Mhangami RELATED STORIES A FUND raiser will be held in London Friday to support rising 12 year-old Zimbabwean tennis sensation Michael Mhangami whose talent has attracted the attention of global stars such as Andy Murray and Roger Federer. Zimbabwean, Glorianne Francis, an inspirational speaker, philanthropist, presenter and host to International events who will be presenting at the event said the fundraiser had the backing of former UK minister of olympics, Tessa Jowell, among others. More than one hundred guests are expected to attend the event, among them sports agents and stars as well as celebrities who include Rudolph Walker (Patrick) of BBC soap East Enders. aMichaelas dreams are too big for the earnings of his working class parents,a said the organisers. aTennis, unlike any other game out there, is expensive and caters for a limited and very active membership. Michael travels around the world for tournaments and the more he plays tennis, the more expenses are for his parents.a Mhangami began his tennis career at the age of three and has participated in many local and international tournaments, winning various awards, medals and trophies. He is already the winner of 9&U and 10&U Aegon Winter Masters Nationals, Clay Court National Championships, Aegon British National Invitational (2 years in a row), Multi Grand Prix winner, LTA Surrey Champion and Porsche Nottingham open Winner twice in a row. The LTA baked player and British Number 1 in 2010 and 2011 will this year compete at one of the worldas biggest tournaments, the Orange Bowl, Florida USA. aIn 2010 Michael was lucky to have escorted his favourite player and eventual winner, Roger Federer onto court for the match against Andy Murray,a said the organisers. aIn the same year Michael won three national level titles as well as winning the Surrey County event. He is part of the Aegon Future Stars program to nurture talented young tennis players. Michael Mhamgami with his hero Roger Federer

Email | Twitter | Google+ | LinkedIn London cabs are bearing advertising promoting Philadelphia. The campaign launched this week by the city, the airport and the Philadelphia Convention & Visitors Bureau is promoting Philadelphia as a destination for trade, conventions and leisure travel. Next month Mayor Michael Nutter will take a trade mission to London and Tel Aviv, Israel. In London, hell attend the World Travel Market trade show, where some 47,000 travel professionals are expected. Philadelphia will have a group at the London show, including Jack Ferguson , president and CEO of the Philadelphia Convention & Visitors Bureau. The delegation will host an event for airline executives, urging them to add international flights to Philadelphia International Airport a move that could net business and leisure travelers. Through these relationships, we will attract new international travelers, students, investment and trade opportunities for Philadelphia businesses, and create new jobs for Philadelphians, Nutter said. Nutter and Ferguson will attend the World Travel Markets ministerial dinner on Nov. 5. It will include tourism ministers from around the world. The magnitude of this mission is powerful with so many partners from various business sectors coming together to promote our great city as a hub for trade, travel, education and innovation, while positioning Philadelphia a world-class destination, Ferguson said. As part of the promotional effort, 11 London taxis have been wrapped with Philadelpia messaging and images, which will also appear on interior headrests and taxi receipts.

Meanwhile, Michael Grandage, the former artistic director of the West End producing powerhouse the Donmar Warehouse, gave us an exuberant Midsummer Nights Dream, oozing free love and Burning Man atmosphere and starring Sheridan Smith an actor fast becoming a national treasure as a pulchritudinous Titania, and Little Britains David Walliams as Bottom. That continues at the Noel Coward until 16 November. And the following month brings Grandages take on the bellicose poetry of Henry V. Jude Law, in the role of the charismatic king, pretty much guarantees returns queues round the block. Also raising the star power and sex appeal of the Bard this season is the Royal Shakespeare Company, which in December brings Gregory Dorans production of Richard II to the Barbican Theatre, with David Tennant as the monarch (a fine actor still best known to British audiences for BBC TVs Doctor Who). Meanwhile at the Donmar, Josie Rourke directs a new staging of the bloody Roman tragedy Coriolanus. Its a good season, too, for Ibsen fans: Carrie Cracknells wildly acclaimed A Dolls House, with its claustrophobic, revolving domestic-prison set and a blazing performance from Hattie Morahan as Nora, continues until 26 October at the Duke of Yorks. And from 3 October theatre veteran Richard Eyres new production of Ghosts is at the Almeida. Staying with the Scandinavian theme, Jack Thornes stage version of Let The Right One In a vampire horror drama based on the novel by John Ajvide Lindqvist and subsequent film will be casting its chilly spell over Londons leading new writing theatre, the Royal Court, from 29 November. But those looking for new writing with a distinctly British flavour could head north, to the Tricycle Theatre in Kilburn, for Moira Buffinis Handbagged, in which the Iron Lady and former Prime Minister, the late Margaret Thatcher faces down the Queen. It plays until 9 November.

Letter from London: A guide to winter 2013 in the West End

On Monday, Britain unveiled simpler visa rules aimed at luring Chinese tourists. Osborne’s trip marks a return to normal exchanges after Beijing derailed a planned visit by Prime Minister David Cameron in April in retaliation for the British leader having met the Dalai Lama, the exiled Tibetan spiritual leader. Investors in London will be allowed to apply for licenses to invest yuan directly into China, Osborne announced. He said the Chinese central bank set an initial quota for London of 80 billion yuan ($12.7 billion). Tuesday’s announcement put London ahead in the race by global financial centers to gain a share of yuan-denominated business as Beijing gradually expands use of its currency for trade and investment. Hong Kong was the first financial center outside mainland China where trading of yuan was authorized. London banks have traded yuan since early last year. “Now London is a major global offshore center for the trading of the Chinese currency,” Osborne told reporters. Britain and China signed an agreement in June to have their central banks swap 200 billion yuan for 20 billion pounds. The European Central Bank and Beijing announced a similar agreement this month to swap 350 billion yuan for 45 billion euros. That suggested Frankfurt also might be in to become a center for business denominated in yuan. Also Tuesday, Osborne said China’s state-owned banks will be allowed to expand their operations in Britain by setting up wholesale branches. Cameron was forced to abandon his April trip after China said he would not be able to meet senior officials.