London is confirmed in first place for the second time in a row in the 2016 edition of the study "Cities of Opportunity" PwC, analysis that focuses on the 30 largest global financial centers. Singapore is ranked second, followed by Toronto, while Paris and Amsterdam completed the top five.
Greece was fined, by European Court of Justice, 10 million euro and a penalty payment of EUR 30 000 for each day of delay for failure to implement EU law on waste. In today's judgment, the Court held that Greece has not taken all the measures necessary for the implementation of the previous judgment of 2009. Thus, the deadline of 25 March 2013, Greece had not yet adopted a specific plan for the management of hazardous waste nor to establish an integrated and adequate network of disposal installations for hazardous waste or put in place a management-compliant "historical waste" (old waste temporarily stored at sites not used to that destination).
Karsten Lauritzen, Denmark's taxation minister, declared authorities will buy leaked data from a Panamanian law firm that helped customers open offshore companies to avoid paying taxes. Lauritzen says Denmark's Customs and Tax Administration had received an anonymous offer over the summer to acquire data from the so-called "Panama Papers". The information pertains to 320 Danish cases and could affect between 500 and 600 Danish taxpayers. It's the first time that Scandinavian country is granted the option to purchase confidential information. Lauritzen says "everything suggests that it is useful information" and "we owe it to all Danish taxpayers who faithfully pay their taxes." The ministry hopes to get hold of the documents by the end of September. In April, Nordea and Jyske Bank, Denmark's second and third largest banks were among the institutions accused of helping customers avoid taxes.
PayPal continues to consolidate its presence in stores and in the business of "traditional" type, through a new agreement with Mastercard, taking a little distance from the web, where it was born as a complementary service to eBay, which was spun off in 2015. After the agreement with Visa,announced in July, the company struck the deal with Mastercard to strengthen its presence directly at the stores and become a universally accepted method of payment.
German industry lost momentum again in July, canceling the recovery implemented in the previous period, due to a sharp drop in manufacturing production (-2.3%). This is the worst figure in the last two years. By contrast, building activity recorded a 1.8% advance. According to the German Statistical Office Destatis, production fell by 1.5% after a revised 1.1% in June (+ 0.8% the first reading). The figure is much worse than analysts' estimates, which had expected a marginal increase of 0.2%.
Volkswagen buys 16.6% stake in Navistar, American truck manufacturer, according to analysts is the first step for the spin off of the division of trucks expected next year. The German group will thus seek to expand its presence in the American market by focusing on activities related to trucks. The two companies have been talking since early 2015, and they reached the agreement for developing new products.
The negative rates of Switzerland (-0.75%), forced down by the Central Bank to protect the franc from dangerous flare-ups against major currencies, are keeping many customers away from banks. As Helvetia Ag told Bloomberg, keeping the cash in a box at home or at the company, costs, for each million, 1000 francs insurance, instead of one million Swiss francs in the current account has maintained an average annual cost of 7,500 francs for the customers. But the sum doesn't include the costs of logistics or security sistems.
In the last two months the global geopolitical situation has definitely worsened as the central bankers pursue their ZIRP and NIRP policies by adhering to financial repression and in some cases, as in Europe and Japan, with vigorous QE acquisitions that have completely disrupted the price finding mechanism of the capital markets. Insurance companies and pension funds find it ever more difficult to cope with the low yields of bonds and struggle to meet their obligations to shareholders and those enjoying entitlements.
Switzerland does better than expected and accelerate its growth in the second quarter. According to information from the State Secretariat for Economic Affairs (SECO), the Swiss GDP has in fact recorded an increase of 0.6% on a quarterly basis between April and June and rose 2.0% from the previous year, better than the 0.9% expected, the strongest quarterly growth rate since the end of 2014.
Bayer has again increased its bid for the purchase of Monsanto with the goal of creating a new global leader in the field of seeds and pesticides. Bayer, which is attempting to mid-May to reach an agreement with Monsanto, has stated his willingness to pay $ 127.50 per share, a new increase in supply compared to $ 125 previously proposed action. The increase in supply leads to the evaluation Monsanto more than 65 billion dollars including debt, 56 billion excluding debt.
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Die Fonds-Konferenz der SKSF ist eine wichtige, branchenspezifische Plattform für Wissens- und Erfa
2 evenings to find out about the latest from the digital industry & 2 days to find ideas and to crea
ICDA will return this year to its alpine home for the 38th Bürgenstock Meeting.
The objective of the Conference is to bring together all the diverse stakeholdersinterested in a pol
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