Apple accuses EU of misunderstanding its business in €13bn court case September 18, 2019 Apple has accused the European Commission of misunderstanding its business as the tech giant’s appeal against a €13bn tax order entered its second day. The Commission had accused Apple of having dodged taxes and received illegal state aid from Ireland, ordering the company to pay a €13bn Irish tax bill in 2016. Read more: Apple [...]
UK fintech Gocardless to launch in the US September 18, 2019 London-based fintech firm Gocardless will launch in the US today, hoping to shake up recurring payments systems in the world’s largest market. Gocardless has announced a new solution on its platform to support debit payments on the Automated Clearing House (ACH) network, designed to make it simpler for merchants to automatically take payments from customers. [...]
Brits curious about cryptocurrencies but still keen on cash, survey finds September 18, 2019 Members of the public are curious about the possibilities offered by cryptocurrencies, but cash is likely to remain king for the foreseeable future with the vast majority consumers wanting it to remain in use, a new study has found. Just 20 per cent of British people would prefer it if cash no longer existed, according [...]
Supreme Court live: Government QC outlines case for prorogation September 17, 2019 Please refresh this page manually for the latest updates. Follow this live blog as the UK’s highest court hears arguments for and against Prime Minister Boris Johnson’s controversial decision to prorogue parliament. For an explainer on everything leading up to this week’s court case, check out our article from earlier on today. We run through [...]
Apple tells EU court €13bn Irish tax bill ‘defies reality and common sense’ September 17, 2019 An order by the European Commission for Apple to pay a €13bn (£11.5bn) Irish tax bill “defies reality and common sense”, the tech giant said today as it launched a challenge against the ruling. Apple accused the Commission of using its powers to fight state aid to “retrofit changes to national law” at a hearing [...]
Asset Management Exchange announces new $1bn credit fund September 17, 2019 The Asset Management Exchange (AMX) investment platform has announced a new $1bn fund designed to deliver predictable cash flows with lower transaction costs. The Long Term Credit Fund will be run by AXA Investment Managers using a ‘buy and maintain’ credit strategy to build “a well-diversified, benchmark-agnostic, long-dated credit portfolio”, AMX said. Read more: Gresham [...]
Issues with no-deal Brexit preparations ‘still to be resolved’, warns City watchdog September 16, 2019 The head of the UK’s financial regulator has struck a cautious tone over the City’s preparations for a no-deal Brexit, warning that while progress is “welcome”, there are “issues still to be resolved”. Financial Conduct Authority (FCA) boss Andrew Bailey said earlier that overlaps between UK and EU share trading regulations post-Brexit would damage both [...]
Apple prepares to launch EU legal challenge over €13bn Irish tax bill September 16, 2019 Apple is set to launch a legal challenge tomorrow over an order by the European Commission to pay €13bn (£11.5bn) in Irish back taxes, as the EU seeks to crack down on tax avoidance by multinational companies. What’s the case about? The tech giant was accused of having dodged taxes and received €13bn illegal state [...]
Moody’s downgrades Hong Kong’s outlook to negative September 16, 2019 Moody’s has downgraded Hong Kong’s rating outlook to negative, saying that ongoing political protests in the financial hub “reveal an erosion in the strength” of its institutions. Despite the changed outlook, Moody’s maintained Hong Kong’s overall Aa2 rating. Read more: Protesters throw petrol bombs as Hong Kong violence persists Rival ratings agency Fitch Ratings downgraded [...]
Gresham House reports jump in assets under management September 16, 2019 Gresham House has reported an 8.1 per cent increase in assets under management (AUM) for the first half of 2019, which the asset manager said was driven by an increase in organic growth, pushing its income up over 200 per cent. The specialist alternative asset management firm had £2.5bn AUM at the end of June, [...]
