Car dealer prosecuted

Article Abstract:

DC Cook motor dealerships have been prosecuted for selling cars with false mileage readings. The Worksop dealership has been fined 12,000 pounds sterling and the Barnsley and Rotherham dealerships also face charges. General Manager Paul Batty has been fined for neglect relating to some of the charges. Chairman Derek Cook claims that the matter was brought to the attention of trading standards authorities, and customers have been fully compensated.

Used Car Dealers, Cases, Used automobile dealers, Automobile dealers, DC Cook

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Credibility on the line

Article Abstract:

Cray Electronics has lost management credibility since the management team failed to inform the City of its problems until they were apparent. The same management team had bonus shares worth 27 million pounds sterling in 1993, under a generous incentive scheme. Cray Communications, the company's main subsidiary and producer of computer networking equipment, has been suffering cost difficulties following an ambitious expansion programme.

Computers, Electronic Computer Manufacturing, Computer industry, Finance, Cray Electronics Holdings PLC

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Tax charge hike looms: company earnings and balance sheets are threatened by proposed changes to treatment of tax in company figures

Article Abstract:

A change in the accounting for tax rules could affect UK companies' reported earnings and balance sheets according to BAA, airport operator. The Accounting Standards Board (ASB) proposed changes relate to the accounting treatment of deferred taxation whereby companies would have to provide for deferred tax in full, increasing their stated tax charge and reducing earnings per share.

Interpretation and construction, Tax law

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