US midterm elections: How the markets reacted November 7, 2018 Global markets have rallied as the dollar weakened following the US midterm elections. The Democrats took control of the US House of Representatives, which could make it harder for Donald Trump to push through his legislative plans. But the Republicans retained their control of the US Senate, in a largely expected outcome. The pound has gained [...]
Good news – the evidence is in from across the Atlantic, and tax cuts benefit everyone November 7, 2018 From discussions on how the UK should reform its tax and regulatory landscape to make the most of post-Brexit opportunities, to the rallies midterm election candidates have been holding across the US championing or lambasting the President’s tax cuts, the debate is still raging about how changes to taxes impact economies. But if you need [...]
Hammond’s digital tax is an illogical game of whack-a-mole November 7, 2018 The introduction of a new digital services tax was the most depressingly inevitable part of Philip Hammond’s Budget speech last week. Years of pressure from a pincer movement of corporate tax moralists and traditional retailers have paid off. Starting in April 2020, profitable digital businesses with £500m in global revenues would face a two per cent [...]
EU leaders split on plans for a European digital tax November 6, 2018 EU member states have failed to reach a consensus on imposing an EU-wide digital services tax, which affects firms such as Facebook and Alphabet, over fears of potential US retaliation. The plan, which requires approval from all 28 EU member states, is opposed by many. The levy would see a three per cent tax placed [...]
Shocktober: Seven charts that tell the story of the stock market’s worst month in six years November 6, 2018 | City Talk World stock markets fell 7.4 per cent in October as investors fretted about issues such as US-China trade tensions, European political uncertainty and the end of quantitative easing. The sell-off made it the worst monthly performance for stocks globally in the last six years and it’s the tenth worst in the last decade, as measured by the [...]
CoinGeek brings the world of crypto together in London November 6, 2018 While outsiders’ interest in cryptocurrencies is often limited to their volatile prices, industry leaders will be debating a much wider agenda, including everyday uses of crypto, at a three-day conference in London at the end of November. Tickets can be bought with discount code “cityam20” on Eventbrite The CoinGeek Week Conference will feature entrepreneurs who [...]
Randgold profits rise ahead of shareholder vote on $6bn Barrick merger November 6, 2018 Randgold Resources has reported a 25 per cent profit increase on the eve of a shareholder vote on its proposed $6bn (£4.6bn) merger with Barrick Gold. The gold miner said its profit for the third quarter was $73.2m, an increase on the $58m profit made in the second quarter, and up 20 per cent from the [...]
Currency vs money – The choice you didn’t know you had November 6, 2018 Modern crypto projects face a series of obstacles ranging from plain operational issues to core conceptual principles by which the currency should be made. The most obvious and practical way of creating a digital currency is by getting to the root of the conventional currencies and connecting this virtual entity to real and valuable goods, [...]
Asda, Morrisons and Sainsbury’s to cut price of unleaded petrol by 2p November 6, 2018 Supermarket giants Asda, Morrisons and Sainsbury's are locked in a pricing war after all three pledged to cut the price of fuel by 2p. The war was triggered by Asda's decision to cut the price of its unleaded fuel by 2p to 122.7p per litre. Rivals Morrisons and Sainsbury's announced soon after that they too would shave [...]
Pound hits two-week high as markets grow optimistic over Brexit deal November 6, 2018 The pound hit a two-week high today as the markets expressed optimism that a Brexit deal is close. Sterling rose as high as 1.308 against the dollar this morning, its highest since 18 October, following a report from The Times that the EU was set to agree to compromise over the thorny issue of the Irish [...]