Search Results for: US authorities
FINMA reduces obstacles to FinTech
March 18th, 2016
The Swiss Financial Market Supervisory Authority FINMA has published a new circular facilitating video and online client identification. In addition to removing a number of unnecessary obstacles from its regulations, FINMA also supports the introduction of a new licensing ...
Amazon’s Italy Chief Says Company Under Probe for Tax Evasion
March 16th, 2016
Amazon.com Inc. is under investigation in Italy for alleged tax evasion, Francois Nuyts, Amazon’s chief for Italy and Spain, said in an interview Tuesday. The Seattle-based online retailer is cooperating with the probe, Nuyts said. “Amazon pays all applicable ...
Apple Lambasts The FBI For Not Asking The Nsa To Help Hack That Iphone
March 16th, 2016
IN THE SHOWDOWN between Apple and the Justice Department over an iPhone used by one of the San Bernardino shooting suspects, one question has loomed large. Why hasn’t the FBI sought assistance from the National Security Agency—which employs some of ...
Kuwait approves economic reforms including the introduction of a 10 per cent Corporate tax
March 15th, 2016
Kuwait approves 10 per cent corporate tax, other reforms as deficit widens Kuwait’s cabinet has approved economic reforms including the introduction of a 10 per cent tax on corporate profits to narrow a budget deficit caused by low oil ...
Why Our Financial System Is Like the Titanic
March 15th, 2016
The “unsinkable” global financial system is rushing headlong toward its encounter with the iceberg. Why did the Titanic sink, despite being considered unsinkable? The conventional answer is the design of its watertight compartments was flawed: the watertight bulkheads were ...
Apple, McDonald’s, Google and IKEA to face EU lawmakers over tax deals
March 15th, 2016
Apple (AAPL.O), Google (GOOGL.O), McDonald’s (MCD.N) and IKEA will be asked about their European tax deals on Wednesday as EU lawmakers ratchet up the pressure on multinationals to pay more tax on their profits locally. The hearing, organized by ...
China Drafts Rules for Tobin Tax on Currency Transactions
March 15th, 2016
Initial rate of levy may be kept at zero, people familiar said The rules still need central government approval, they said China’s central bank has drafted rules for a tax on foreign-exchange transactions that would help curb currency speculation, according ...
MiFID II deadline extended to January 2018
March 11th, 2016
The extension is to take account of the exceptional technical implementation challenges faced by regulators and market participants. The European Commission has proposed granting national competent authorities and market participants one additional year to comply with the rules ...
HSBC Going Solo in China Credit Cards Boosts Expansion Plan
March 10th, 2016
Bank has ended card venture with Bocom, Asia head says HSBC would be just one of three foreign card issuers in China HSBC Holdings Plc winning approval to start a credit-card business in China’s $1 trillion market offers Chief ...
China And Fracking: The Pillars Of “The Recovery” Are Crumbling
March 10th, 2016
When historians sort out this era of once-a-decade financial bubbles, they’ll marvel at how dissimilar the drivers of each boom were. The junk bonds of the 1980s were essentially leveraged tools for extracting wealth from companies. The dot-coms of ...
