He is due to commence talks with Greek Prime Minister Antonis Samaras today, with the two countries financial situations being the main point of discussion. Reports indicate that Anastasiades will be asking for Greece to provide €2bn from its €48bn bank recapitalisation package to support Cypriot lenders. Little over a fortnight ago, Anastasiades, said that…
When you think about Florida what comes to mind?For me it’s sunshine… golf courses… Lincolns, Buicks and Cadillacs… big-box “senior living” centers… and, of course, ubiquitous retirees.We may make fun of Florida as one big old folks’ home. But by 2030 the average American will be older than the average Floridian is today. That observation…
After last minute discussions failed to reach a consensus, the American Congress was unable to prevent a wave of unpalatable cuts coming into effect. President Obama has since signed off on the sequester, which will see over $85bn wiped from the federal budget over the year. When the cuts were conceived in 2011, they were…
New figures from the US Department of Housing and Urban Development reveal that sales of new single-family houses in January rose 15.6 percent above the December 2012 rate, and 28.9 percent from the same time last year. Over 437,000 single family homes were purchased in January, exceeding the forecast of 381,000. Sales have been boosted…
The pound slipped to a two-year nadir as news that Moody’s Investor service became the first ratings agency to downgrade the UK from its triple A score since 1978. Domestic and foreign-currency government bond ratings have had their scored lowered to an AA1, though the outlook on these ratings remains stable. In a statement the…
Departing chairman of Novartis, Daniel Vasella was set to receive a payout of $78m over six years, supposedly for consulting services and a very strict non-compete agreement. But the generous ‘golden gag’ package- as the payout has been dubbed by the media- caused waves of protests in Switzerland, a country on the verge of a…
The European Commission has announced plans to demand global manufacturers importing goods into the EU to apply a ‘made in’ label to all their products or risk sanctions. The World Trade Organisation is a staunch critic of such labels which it describes as making little sense in a world of globalised supply chains. Similar regulations…
More than 90% of business in the United States are family owned, but less than a third will survive in to the following generation. With the prevalence of small and medium sized business, the intricacies of business succession planning must be considered as a part of your retirement plan. Preoccupied with 401Ks and SEP-IRAs the…
The British chancellor has proposed a ring fence separating high-street retails banking from investment banking branches within institutions will need to be ‘electrified’ with severe sanctions. Osborne will publish the Banking Reform Bill giving regulators the power to split banks up if they do not comply fully with new rules designed to protect British taxpayers….
China has been planning a proposal to convert over $1tn of Chinese-owned land in the US into ‘development zones’ that could see the establishment of Chinese business and citizens in North America. The proposal would mean China would own American businesses, infrastructure and valuable land. In exchange for the investment the US government would guarantee…
