Too confused to care
Article Abstract:
The UK's antiquated charities regulations have created confusion over what constitutes a charity. Current British charity law originates from the Statute of Charitable Uses which was introduced in 1601 during the reign of Elizabeth I. It has been modified over the years, most notably in 1891 when charitable activities were grouped under four 'heads of charity,' namely, relief of poverty, advancement of religion, education and purposes beneficial to the community. Although these four are not strict definitions of a charitable purpose, they are used as basis for what organization is granted a charity status in England and Wales. Because it is fairly easy to argue the applicability of these catch-all classifications, any group can register as a charity. The Charity Commission is now reviewing its Register to establish guidelines that could shape the treatment of charities in the future.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1998
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Sky wars
Article Abstract:
The influx of low-cost airlines in the UK has resulted in more intense competition in the air transportation industry. With the introduction of deregulation in the European airline sector in 1993, cross-border routes can no longer be dominated by one carrier and prices can be freely determined by the airlines. These developments paved the way for the entry of airlines offering cheap flights and without the customary free meals or drinks. New entrants include Debonair, easyJet and Peach Air. In 1998, under 5% of passengers in Europe traveled on a low-cost airline, which means tremendous growth potential. Major carriers are fighting back by offering low-cost airlines of their own although no-frills airlines are counterattacking by accusing the majors of predatory pricing. Despite stiff competition, low-cost airlines are determined to stay on and succeed.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1999
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A booming market on pause (Richard Prime, Finance Dir, Cityvision PLC)
Article Abstract:
Cityvision PLC operates 854 video rental outlets, primarily under the Ritz name. Cityvision has opened new stores itself, but has fueled its expansion primarily by buying up smaller chains, which has the advantage of allowing the firm to expand with very little expenditure of capital. Cityvision controls 20% of the video market rental market in England. The video rental market has been hurt by the 1991 UK recession. Cityvision's main rival, Parkfield, has gone bankrupt due to overborrowing, which has led to a two-thirds drop in the price of Cityvision stock, as the stock markets are revaluing the video rental business. Finance Dir Richard Prime blames the recent downturn on the decrease in discretionary income caused by the recession, but points out that Cityvision, with its low levels of debt, has continued to make a profit.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
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