Switzerland’s shock migration vote has dealt the EU a huge blow February 10, 2014 THERE are two kinds of Eurosceptics. There is the pro-market, classical liberal variety: believers in the Four Freedoms – the free movement of goods, services, capital and people – across the countries of the European Union, but who oppose everything else, including political integration, the undemocratic nature of the European construct, the EU’s myriad subsidies, [...]
Britain is now being taxed so much that the pips are squeaking February 6, 2014 BRITAIN has become dangerously reliant on a small-number of highly paid and wealthy individuals for its tax receipts. If these people decide to leave the UK, or for some reason suddenly earn or spend less money, the public finances would suffer disproportionately. That is one of the conclusions I draw from a fascinating report published [...]
Britain is now being taxed so much that the pips are squeaking February 5, 2014 BRITAIN has become dangerously reliant on a small-number of highly paid and wealthy individuals for its tax receipts. If these people decide to leave the UK, or for some reason suddenly earn or spend less money, the public finances would suffer disproportionately. That is one of the conclusions I draw from a fascinating report published [...]
Bonus boost at UBS with giant’s investment wing back in profit February 4, 2014 UBS’s investment banking arm swung back to profit in the final three months of 2013, the lender reported yesterday, driving up bonuses. The bank’s overall profits came in at SFr917m (£621m) in the quarter, compared with a loss of SFr1.9bn in the same period of 2012. For 2013 as a whole, it made SFr3.2bn, from a [...]
Emerging markets have had a shock – but confusing it with a trend could cost you February 4, 2014 Emerging market equities have dropped 11 per cent since October’s peak and are down 7.5 per cent so far this year. But Saxo Bank's head of equity strategy Peter Garnry is keen to stress that temporary shocks should never be confused with a new trend. The underlying trend is still there Despite tapering and [...]
The 3 best and worst places to hold Bitcoin February 4, 2014 The debate about how to deal with the virtual currency Bitcoin is still in its infancy, according to a report released by the Law Library of Congress. The report surveys 40 jurisdictions and the European Union on any regulations or statements from central banks and governments on the handling of Bitcoin. Of the countries surveyed [...]
BP 2013 profits plummet on selloff programme February 4, 2014 Following rival oil company Shell’s predictably disappointing results last week, BP has confirmed market expectations that its profits took a hit in 2013. The oil giant saw underlying replacement cost profit – a measurement that excludes gains or losses on the value of inventories – fall to $2.8bn (£1.7bn) in the fourth quarter from the [...]
Largest Nordic bank goes bearish on Bitcoin January 28, 2014 In a fresh blow for Bitcoin the largest Nordic foreign currency trader SEB has rejected requests from customers to set up accounts to manage Bitcoin. The bank is concerned that software associated with the digital currency may be used to engage in illegal activities. Johan Andersson, chief risk officer at SEB, said in response to [...]
Bitcoin faces latest regulation barrage – this time it’s from Finland January 20, 2014 Today has brought another state-led assault on Bitcoin – Finland, like neighbour Norway, has deemed the virtual currency a commodity, rather than a currency. Finland’s central bank has said that Bitcoin doesn’t even meet the definition of an electronic payment method. Speaking to Bloomberg, Paeivi Heikkinen, head of oversight at the Bank of Finland in [...]
Why 2014 could be the year to invest in Venture Capital Trusts January 14, 2014 ON AVERAGE, investments through Venture Capital Trusts (VCTs) have returned 88.6 per cent over the last ten years (with dividends reinvested, assuming an annual 3.5 per cent fee), compared to around 65 per cent for the FTSE All–Share index. VCTs are not for everybody – they are designed to encourage indirect investment in a range [...]