Search Results for: law
Swiss bank UBS to appeal after fined 4.5 billion euros in French tax fraud case
February 21st, 2019
A French court found Swiss bank UBS AG guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion) in penalties. Shares in the Swiss bank fell as much ...
Why has the European Commission not investigated Lux Leaks tax deals?
February 18th, 2019
Almost five years ago, the International Consortium of Investigative Journalists published its Lux Leaks investigation, exposing how some of the world’s largest corporations cycled billions of dollars through Luxembourg so as to avoid paying huge amounts of tax — ...
CySEC announced withdrawal of Cyprus Investment Firm authorisation
February 18th, 2019
The Cyprus Securities and Exchange Commission (CySEC) has issued an announcement to inform that has decided to withdraw the authorisation Cyprus Investment Firm. In accordance the announcement, CySEC on its meeting of 11th February 2019, has decided, pursuant to section 8(1)(a) of ...
Pound rises after three weeks of losses
February 18th, 2019
Sterling drifted higher on Monday after registering three consecutive weeks of losses as investors waited for the outcome of Brexit talks between Britain and the European Union. British Prime Minister Theresa May plans to speak to every EU leader ...
Currencies threatened by a credit crisis
February 15th, 2019
In this article I draw attention to the similarities between the current economic situation and that of 1929, and the threat to today’s unbacked currencies. There is the coincidence of trade protectionism with the top of the credit cycle, ...
Former precious metals trader for UBS AG fined
February 8th, 2019
The Commodity Futures Trading Commission (CFTC) has issued an announcement to inform that Judge Vanessa Bryant of the U.S. District Court for the District of Connecticut issued a Final Judgment and Consent Order on February 5, 2019, against Andre ...
Review: European stocks were slightly lower Monday; Europe’s autos stocks led the losses
February 5th, 2019
European stocks were slightly lower Monday, as market participants monitored another flurry of corporate earnings results. The pan-European Stoxx 600 edged 0.2 percent lower during afternoon trade, with most sectors and major bourses in negative territory. Europe’s autos stocks, ...
Trade wars – a catalyst for economic crisis
February 1st, 2019
In my last article I used a proven accounting identity to show that the end result of President Trump’s trade tariffs would be to increase the trade deficit, assuming there is no change in the savings rate. The savings ...
A clear message to sellers of ‘fake’ online followers and ‘likes’ on social media
January 31st, 2019
New York attorney general sends clear message in settling with sellers of ‘fake’ online followers and ‘likes’ in first US settlement of its kind. New York’s attorney general Letitia James has stated she has resolved a probe into a ...
Sterling resilient as Britain pursues Brexit deal change
January 31st, 2019
Sterling recovered on Wednesday after declines triggered by the UK parliament’s rejection of amendments to delay Brexit, as investors bet the government would still avoid exiting the European Union without an agreed divorce deal in place. Growing expectations that ...
