British Overseas Territories Are Up In Arms Over Proposed Changes To Financial Transparency Laws

Despite initially indicating that it did not want to damage the autonomy of its overseas territories, the UK government now looks set to pass a bill that will force the likes of the British Virgin Islands, Bermuda, Gibraltar and the Cayman Islands to reveal and publish the names of the beneficial owners of the offshore companies registered there by 2020. Read more “British Overseas Territories Are Up In Arms Over Proposed Changes To Financial Transparency Laws”

Overseas Buyers Of Prime UK Properties Are On The Rise, As Investors Start To Look Beyond London

Exclusive London properties are selling at their biggest discount to asking price in over a decade, and attracting more foreign buyers, particularly from the Middle East, than domestic ones, according to research from Hamptons Property Agents.

The trend looks to be spreading beyond London, too; research from Knight Frank released in February this year suggests that very nearly half of all country estates in Britain with a value above £5m were sold to foreign nationals in 2017. Read more “Overseas Buyers Of Prime UK Properties Are On The Rise, As Investors Start To Look Beyond London”

IoD Survey Reveals British Business Leaders Favour Doing Business With EU Over America, Asia

The European market still holds sway over Asia and America when it comes to British companies doing business overseas, according to a new survey from the Institute of Directors. Read more “IoD Survey Reveals British Business Leaders Favour Doing Business With EU Over America, Asia”

£1.6bn or £16bn? The Amazing Truth About The UK’s Overseas Money Transfer Industry

It may seem astonishing, especially in a world increasingly viewed through a prism of facts, figures and stats, that the UK does not officially measure remittance flows or international money transfers into or out of the country.

But it is true: according to the University of Oxford’s Migration Observatory, which provides “impartial, independent, authoritative, evidence-based analysis of data on migration and migrants in the UK”, estimates concerning the amount of money that is transferred annually between Britain and the rest of the world vary from approximately £1.5bn, to over £16.5bn – a substantial difference, by any measure! Read more “£1.6bn or £16bn? The Amazing Truth About The UK’s Overseas Money Transfer Industry”

UK Sends More Money To Nigeria Than To Any Other Country, Says Data From World Bank

The World bank studies the global remittance industry closely and its data is often revealing, especially because it is not always easy to track the real amounts of money sent overseas from one country to another – there are many different ways it can be done, and many different reasons for doing so.

Finder.com recently used World bank data to reveal that Nigeria is the most popular destination for outward remittances from the UK. The country accounts for almost 15% of all money sent abroad from the UK, followed by India (14.1%), France (6.7%), Pakistan (6.7%), and Germany (4.9%). Read more “UK Sends More Money To Nigeria Than To Any Other Country, Says Data From World Bank”

Why Are US Corporate Giants Moving $3.1 Trillion of Assets Held Overseas Back Onshore?

President Trump’s tax reforms have paved the way for some of America’s biggest companies to start moving the enormous piles of cash they have been storing overseas back into the country.

Firms like Cisco, which announced last week that it plans to repatriate around $67 billion in foreign profits during 2018, and Apple, which intends to bring back hundreds of billions of dollars, are taking advantage of Trump’s tax reforms, which have slashed the cost of paying tax on accumulated foreign income to just 15.5% for cash, payable over 8 years. Read more “Why Are US Corporate Giants Moving $3.1 Trillion of Assets Held Overseas Back Onshore?”

The Role Of Import, Export & Exchange Rates On BoE’s Interest Rate Decision, & What It Means For The Rest Of 2018

Bank of England Governor Mark Carney announced today that the BoE’s Monetary Policy Committee have voted unanimously to hold interest rates at 0.5%, before warning; don’t be surprised if we raise them twice before the year is out.

Carney and the BoE are battling rising inflation, which has fallen 0.1%, to 3% from November to December. It’s not enough, they say, and have now set a target of bringing the level down below 2% within 2 years, as opposed to the 3 year timeframe that had previously been indicated. Read more “The Role Of Import, Export & Exchange Rates On BoE’s Interest Rate Decision, & What It Means For The Rest Of 2018”

$500m Crypto Heist Puts Bitcoin, Digital Currency Security Issues In Spotlight Again

Bitcoin, and the crypto-economy that it presides over as the king of the digital currencies, is enduring a tough January. Read more “$500m Crypto Heist Puts Bitcoin, Digital Currency Security Issues In Spotlight Again”

Resilient Economy, Weak Dollar & A Burgeoning Relationship; A Good Time To Swap Pounds For Dollars?

Davos, it is said, doesn’t know quite what to make of Donald Trump. On the one hand, there is outrage, stemming from the POTUS’ decision to pull out of the Paris Climate Agreement, his outspoken views on immigration, and his deeply unpopular and controversial domestic policies. Read more “Resilient Economy, Weak Dollar & A Burgeoning Relationship; A Good Time To Swap Pounds For Dollars?”

LAMMA 2018, The UK’s Largest Machinery Show Is In Full Swing

Peterborough is once again the venue for an event that consistently attracts the cream of international manufacturers and suppliers of farm machinery, equipment and agricultural services, and the mainly UK based farmers, contractors and rural businesses looking to invest in new equipment.

Last year saw more than 40,000 visitors descend on the East of England Showground, and more than 850 companies exhibit. The event represents the perfect opportunity for farmers and manufacturers to discuss the latest products on display in an informal atmosphere, view the latest technological innovations, and ultimately, to make deals. Read more “LAMMA 2018, The UK’s Largest Machinery Show Is In Full Swing”

Latest Figures Show The UK Economy Is Suffering But Could It Just Be A Blip – Can Technology Save Us?

This week, we have learned a lot about the state of the economy in the UK, and what it means for the woman or man in the street. 

Firstly, we have learned that inflation hit its highest level since 2012 in October, rising from 2.9%, past the psychological barrier of 3%. Bank of England governor; Mark Carney, has warned that is is likely to rise further.

The main reason that inflation has risen as much as it has is of course Brexit; lest we forget, last June’s vote to leave the EU caused the pound to drop more than 13% against the euro, to a 31-year low, making imports far dearer, and pushing up the prices of nearly all goods produced outside of the UK, and especially fuel, food and transport costs. Read more “Latest Figures Show The UK Economy Is Suffering But Could It Just Be A Blip – Can Technology Save Us?”