Search Results for: tax
Germany Brings FATCA Law Into Force
August 6th, 2014
Germany’s Ministry of Finance announced that a law enabling the implementation of the United States’ Foreign Account Tax Compliance Act (FATCA) has come into force. The ministry said that the FATCA-USA Implementation Regulation, known in German as FATCA-USA-Umsetzungsverordnung or ...
Big Banks’ ‘Living Wills’ Get Failing Grade
August 6th, 2014
Wall Street banks spent two years asking U.S. regulators what they should put in hypothetical bankruptcy plans to prove they aren’t “too big to fail.” The agencies broke their silence yesterday with a grade: Fail. The Federal Reserve and ...
Tesla resolves trademark dispute in China
August 6th, 2014
U.S. electric carmaker Tesla Motors Inc (TSLA.O) said it has “completely and amicably” resolved a trademark dispute in China, removing a hurdle that had threatened CEO Elon Musk’s ambition to expand rapidly in the world’s biggest auto market. It ...
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 ...
HSBC bank’s half-year profits fall by 12%
August 4th, 2014
HSBC’s pre-tax profits fell by 12% in the first half of 2014 compared with the same period a year before. Profits were $12.34bn (£7.33bn), from $14.071bn twelve months earlier. During the half-year, the bank also put aside some $234m ...
Vodafone wins VAT rebate appeal
August 4th, 2014
Vodafone is entitled to reclaim £4.1m in VAT, a tribunal has ruled, after the mobile phone operator paid too much VAT after using a loyalty scheme to rewards its customers. Vodafone argued that that it should have reduced its ...
Portugal will finance $6.6 billion to rescue Banco Espirito Santo
August 4th, 2014
It was a few months ago that Lisbon has exited an international bailout and now Portugal is planning to spend 4.9 billion euros in order to rescue Banco Espirito Santo its largest listed bank. The situation is definitely putting ...
Week in FX Asia – BOJ Defends Inaction Strong USD Provides Breathing Room
August 1st, 2014
BOJ Defends Its Assessment of the Japanese Economy Bank of Japan Governor Haruhiko Kuroda defended the bank’s positive assessment of the economy on Friday. Data release out of Japan have been weak and prompted an assurance from the BOJ ...
India to face a new technique for gold
August 1st, 2014
India is scrambling to crack down on a new gold smuggling tactic that it fears could accelerate a flood of illegal imports of the precious metal into the world’s second-biggest buyer. India — whose appetite for gold is only ...
Can Investment Save Europe?
August 1st, 2014
Economic growth in Europe remains disappointing. Virtually all European Union members are expected to post higher output in 2014; but, according to the International Monetary Fund’s latest projections, the average growth rate in the eurozone will barely exceed 1%. ...
