News / UK and world by Press Association July 5, 2018, 8:24 am FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Budget fashion chain Primark is on course for higher annual profits as strict stock management and markdowns start to pay off. Associated British Foods said in a trading update that it expects Primark’s bottom line to grow thanks to higher operating margins. “Stock has been tightly managed and markdowns, although higher than the very low level achieved last year, will be better than previously expected and, as a result, the profit from Primark will now be higher than expected,” AB Foods said. It also expects to feel the benefits of a weaker US dollar on its purchases. However, it is not enough to offset a decline in profits at its sugar division, which is being knocked by low EU prices, forcing AB Foods to stand pat on its full-year outlook. The group logged a 2% rise in like-for-like revenue over the 40 weeks to … [Read more...] about Primark profits to rise as markdowns and stock management pay off
Budgeting and financial management
Minister of Finance Dinh Tien Dung The Minister said the Government has been enacting synchronous measures to implement effectively the Politburo’s Resolution No.7 on restructuring the State budget and public debt management and the National Assembly’s Resolution No.25 on the national five-year financial plan. As a result, the State budget collection in 2016-2017 far exceeded estimates by 9.3 percent and 6.3 percent respectively. Budget revenues at central level accounted for 55-56 percent of the total revenues while localities contributed 44-45 percent. In line with its integration commitments, Vietnam has forged ahead with administrative reforms and modernisation of taxation and customs. Most of businesses at present have conducted online tax declaration, payment and refund, while all customs units have been carrying out e-customs procedures and adopting the one-stop-shop mechanism. The Ministry of Finance has expanded the connection among customs … [Read more...] about Minister addresses lawmakers’ concerns over budget, financial management
IOWA CITY, Iowa (AP) — The Iowa agency that promotes affordable housing has suspended the use of credit cards that were issued to employees outside the state's normal purchasing program, its interim leader said Wednesday.The move by the Iowa Finance Authority comes as the agency faces multiple investigations into allegations of sexual harassment and questionable financial practices by its former director, Dave Jamison.Documents released to The Associated Press on Tuesday under the open records law show that 21 employees of the agency had been issued Visa credit cards through Wells Fargo to cover travel, meeting and other general expenses. That's more than one-fifth of the authority's employees.The agency's board last week authorized an outside firm to review its budgeting and financial practices, including credit card spending by Jamison and other employees. The state auditor's office is also investigating the spending practices, and lawmakers ordered the state to hire an … [Read more...] about Iowa agency suspends credit card use amid financial reviews
Updated at 1:41 p.m. with state social services czar Charles Smith's comments. AUSTIN -- A fourth official has lost her job as a contracting mess deepened at the Texas Health and Human Services Commission on Wednesday.Heather Griffith Peterson, the commission's chief operating officer, resigned effective Wednesday, agency spokeswoman Carrie Williams confirmed.Meanwhile, Charles Smith, the commission's executive director, warned that more of his subordinates could be sacked. Smith admitted to House lawmakers the agency's purchasing and contract oversight processes are "broken.""Our agency was rocked by contracting scandals in 2014 and 2015," Smith recounted to the House Appropriations Committee. Lawmakers then passed bills to overhaul contracting, and the commission made internal changes, he said."None of that matters right now because I'm sitting before you because we failed," Smith said. "We let taxpayers down. ... Everyone deserves better. And we will do … [Read more...] about Fourth official quits, as contracting mess roils Texas Health and Human Services
News Sports UK Sports Entertainment Alert 44° Full Menu Alert 44° Home eEdition News All News Business Communities Counties Crime Education Lexington Most Wanted Nation/World News Photos News Videos Politics Searchable Databases State Watchdog Columns Tom Eblen Sports All Sports UK Sports College Sports Next Cats Recruiting High School Horses Kentucky Speedway Lexington Legends Reds MLB NBA NASCAR NFL Sports Photos Sports Videos Columns John Clay's Columns Mark Story Next Cats Recruiting UK Sports All UK Sports Next Cats Recruiting Baseball Basketball - Men Basketball - Women Recruiting Ex-Cats Football UK Photos UK Videos More UK Sports Columns John Clay's Blog Mark Story Politics Politics Elections Entertainment All Entertainment Books Celebrities Comics Puzzles & Games Events Calendar Horoscopes Movies Music Restaurants Stage & Dance TV Visual Arts Entertainment … [Read more...] about While all eyes were on budget and taxes, what else did lawmakers approve?