Search Results for: US
FCA restricts distribution of CoCos to retail investors
August 5th, 2014
The Financial Conduct Authority (FCA) will restrict firms from distributing contingent convertible securities (CoCos) to the mass retail market from 1 October 2014. CoCos are highly complex and the FCA believes they are unlikely to be appropriate for the ...
Moscow Exchange’s turnover at RUB 44.2 trln in July 2014
August 5th, 2014
Moscow Exchange’s turnover reached RUB 44.2 trln in July 2014, an increase compared to the same period last year (July 2013: RUB 43.9 trln). The largest turnover was shown by the FX market (up 37% YoY), Equity Market (up ...
HSBC reports pretax profit of $1 billion on MENA operations
August 5th, 2014
HSBC has reported that its profit before tax for H1 2014 in the Middle East and North Africa is up nine per cent on both reported and constant currency bases. On an underlying basis, profit before tax increased by ...
Argentina to investigate holdouts’ investments
August 5th, 2014
Argentina’s markets watchdog on Monday launched an investigation into what it believes may have been unlawful speculation by holdout creditors whose litigation against the country for repayment of their defaulted bonds pushed it into a new default last week. ...
Crédit Agricole Takes $950 Million Hit on Portuguese Bank
August 5th, 2014
The French bank Crédit Agricole said Tuesday that it nearly had its entire second-quarter profit wiped away as it took a $950 million charge to write off its entire investment in the troubled Portuguese lender Banco Espírito Santo, in ...
European Stocks Advance as BMW Beats Earnings Forecasts
August 5th, 2014
European stocks rose, rebounding from four days of losses, as companies including Bayerische Motoren Werke AG and Credit Agricole SA reported better-than-expected quarterly profit. U.S. stock futures were little changed, while Asian shares fell. BMW and Deutsche Post AG ...
CySec: renouncement of licence
August 5th, 2014
The Cyprus Securities and Exchange Commission (CySec), the Cypriot regulator, announced that, on 31st July 2014, the CIF “LQD Markets Ltd”, which provided investment services via the domain www.lqdmarkets.com, renounced its authorization pursuant to section 24(1)(b) of the Investment Services ...
DOTAS ‘kiss of death’ for tax avoidance schemes
August 5th, 2014
The Dotas regime has become the “kiss of death” for tax avoidance schemes and has pushed some promoters into providing non-DOTAS structures instead. The Disclosure of Tax Avoidance Schemes (DOTAS) sees anyone entering into a scheme generating tax savings ...
Tax Inversion: What’s the Real Story?
August 5th, 2014
Tax inversion is turning the country inside out. Although the rhetoric flying back and forth is complex, the basic premise is actually quite simple: Multi-national corporations that are reaping profits after taking advantage of favorable U.S. laws are relocating ...
Daimler says assisting Chinese authorities in investigation
August 5th, 2014
Daimler AG’s (DAIGn.DE) luxury brand Mercedes-Benz said it is cooperating with China’s anti-monopoly authorities over an investigation into unspecified matters, after local Chinese media reported the German automaker’s Shanghai office had been raided. “We confirm that we are assisting ...
