Goldman suggests Obama may reduce tax on repatriation of corporate cash stockpiles July 31, 2013 Goldman Sachs have suggested that Obama's new tax scheme could signal support for the low-tax repatriation of foreign profits. The bank's comment team has listed 50 S&P500 companies with as much as $1.8 trillion (£1.2 trillion) invested overseas in 2012. Here's the list of the companies with the most assets overseas, by Goldman's reckoning: General [...]
Rihanna wins ruling against Topshop in t-shirt battle July 31, 2013 Popstar Rihanna has won her case against Topshop owner Arcadia for using an image of her on a range of tops in 2011 and 2012 without her permission. Rihanna said that the fashion store was attempting to pass off the t-shirts as officially approved by the singer, a claim which Topshop disputed. Mr Justice Birss: [...]
Germany and Austria are the only EU countries with youth unemployment in single figures July 31, 2013 As Eurozone unemployment falls for the first time since 2011, the picture is still far from rosy. Especially if you're young. Youth unemployment is now less than 10 per cent in only two Eurozone states – Germany and Austria. In June 2013, 5.512 million young persons (under 25) were unemployed in the EU27, of whom [...]
Steady Eurozone inflation hides the massive differences across member states July 31, 2013 Eurozone inflation has stayed flat at 1.6 per cent in the year to July, as measured by the consumer price index. Economists had forecast a rise to 1.7 per cent. This aggregate figure hides the massive variance in inflation rates across the Eurozone's members. Estonian CPI is still above three per cent. Howard Archer, chief [...]
EU spokesman says Eurozone unemployment is “horrendously high” July 31, 2013 European Commission spokesman Dennis Abbott has said that Eurozone unemployment is "horrendously high" after it has fallen for the first time since 2011. Abbott has said that member states need to carry out reforms to boost employment, but that there is no miracle cure. Eurozone unemployment has stayed flat at the revised figure of 12.1 [...]
Economist says more QE likely only if economy suffers July 31, 2013 We shouldn't expect more quantitative easing unless things get much worse, says Howard Archer, who now believes it would take a "marked relapse over the coming months" for the bank to increase its money printing. After new Bank of England governor voted against further asset purchases at July's Monetary Policy Committee meeting, he is expected [...]
French firm makes reduced offer for British engineer Invensys July 31, 2013 French firm Schneider has made an offer for British engineer Invensys, an announcement that was speculated about yesterday. The formal offer will be paid in cash and shares if accepted. At 502p per share, that offer is lower than what the firm originally suggested, 505p. That's probably because no other bidder came forward, despite speculation [...]
UK consumer confidence hits 39 month high in July July 30, 2013 UK consumer confidence has hit its highest level since April 2010, according to the GfK NOP index which rose by five points in July. Nick Moon, managing director of Social Research at GfK, comments: There is now no doubt that consumer confidence has recovered strongly from the unparalleled trough of the last five years. At [...]
Evraz stops production at Italian mill as steel plate market weakens July 30, 2013 Miner Evraz has announced that it is to stop operations at the Palini e Bertoli plate mill in Italy on 20 August (release). Evraz says that the suspension is expected to last until at least the end of October. EVRAZ Palini e Bertoli remains committed to duly perform under all existing arrangements and will execute all [...]
Investor attacks regulator for being “hostile to banks” July 30, 2013 The head of equities at Barclays' fifth largest shareholder has slammed the UK's financial regulator for being "capricious and hostile to banks". David Cumming, head of equities at Standard Life Investments, has told Reuters that regulators are responsible for a "lack of stability or consistency" in capital requirements. From a taxpayer and investors viewpoint this [...]
