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US multinational companies are clamouring for a tax holiday to repatriate billions of dollars "trapped” overseas but are being rebuffed by Barack Obama’s administration.

JPMorgan research estimates that 30-40 per cent of the almost $1,000bn in cash held by non-financial S&P 500 companies is in foreign jurisdictions.

... Read more »
Views: 9120 | Added by: klon777 | Date: 19.10.2010 | Comments (4)

Tuesday 13.00 BST: US stock futures are down nearly 1 per cent after China delivered a shock increase in bank borrowing rates in an effort to cool speculative lending. Earlier in the global session it had been a case of finance jocks versus tech geeks in the battle for sentiment. 

      The FTSE All World-index is down 0.4 per cent and the dollar is rallying for the third consecutive session. Commodities are sliding on worries about lower demand and the buck’s advance.News that the Peoples’ Bank of China had hiked rates by 25 basis points will raise fears that Beijing’s attempts to slow the pace of economic growth will crimp activity globally and dent insipid recovery in the US and Europe.

... Read more »
Views: 4317 | Added by: klon777 | Date: 19.10.2010 | Comments (1)

Angry customers of Crown Currency Exchange are calling for tighter regulation of the exchange industry after the firm collapsed last month with debts of £25m.

Currency exchange rate board

Many small payment institutions cannot guarantee client funds

The company was offering "impossible" exchange rates to customers who paid six months in advance for their currency.

But Crown was using this money to pay off existing debts and gambling on future rates of exchange.

To c ... Read more »

Views: 4090 | Added by: klon777 | Date: 19.10.2010 | Comments (0)

After a lot of speculation, the UK economy is again moving towards a positive note. This has created an opportunity for business owners and those who are interested in business venture to cash in. But for any business, a substantial amount of money is required as investment. If you are in the look out for finance, then it is good to take new business loans UK which are easily available. New business loans UK is specially made for the purpose of helping individuals start a new business.

New business loans UK can be sourced from different lenders such as banks and financial institutions. You can avail new business loans UK in the form of secured and unsecured new business loans UK. To avail secured option of new business loans, you have to pledge any property as collateral. With secured option of the new business loans UK you get a bigger loan amount, lower interest rate and convenient repaying duration.

Unsecure ... Read more »
Views: 4124 | Added by: klon777 | Date: 19.10.2010 | Comments (1)

LONDON (AFP) – The FTSE 100 slumped Friday as investors were spooked by President Barack Obama's promises to impose regulations on the US banking and financial sectors.

London's benchmark FTSE 100 index dropped 0.60 percent to 5,302.99 points.

Lloyds Banking Group was the most traded stock, with 375 million units changing hands, followed by Royal Bank of Scotland, which saw 208 million shares switch owners.

ICAP was the big loser of the session, shedding 6.58 percent -- or 28 pence -- to end at 397.7, followed by the London Stock Exchange, which lost 4.32 percent -- or 30 pence -- to close at 664.5 pence.

On the upside, Xstrata posted the day's top gains, adding 2.37 percent -- or 26 pence -- to end at 1125. Eurasian also rose, adding 1.7 percent -- or 16 pence -- to end at 954.5.

At 17:00 the pound was trading at 1.6127 against the dollar and 1.1388 against the euro.

Views: 3017 | Added by: klon777 | Date: 24.01.2010 | Comments (0)

The euro has hit a five-month low against the dollar as continuing concerns about the Greek economy weigh heavily on the currency.

The European single currency touched $1.4127 at one point on Wednesday, before recovering slightly to $1.4135.

Although Greece has passed measures to reduce its budget deficit dramatically, some analysts believe the country's financial woes will persist.

Against the pound, the euro also fell, with a euro worth as little as 86.85p.

This was also its weakest position against sterling since August.

"Greece's debt problems look to be deep-rooted and they cannot be resolved immediately," said Takeshi Makita at the Japan Research Institute.

Views: 3109 | Added by: klon777 | Date: 24.01.2010 | Comments (0)

WASHINGTON – President Barack Obama on Saturday unloaded on a divided Supreme Court for allowing more corporate influence over elections. The White House and Democratic lawmakers scrambled to figure out how to blunt the impact of the ruling.

Obama used his radio and Internet address as a platform to expand on criticism Thursday's decision, which drastically alters the rules of campaign finance going into November's congressional elections. The 5-4 decision threw out parts of a law that said companies and unions can be prohibited from using their own money to produce and run campaign ads that promote or target particular candidates by name.

The justices also struck down a measure that had barred union- and corporate-paid issue ads in the pivotal, closing days of election campaigns.

"I can't think of anything more devast ... Read more »

Views: 4505 | Added by: klon777 | Date: 24.01.2010 | Comments (0)

LONDON – Barclays is planning to defer bonuses for its highest-paid executives in hopes of quashing public outrage regarding pay for bankers, Britain's Financial Times reported Saturday.

The move comes amid a backlash in the U.S. against banks who continue to pay whopping bonuses to top executives after being bailed out by taxpayer money.

Bank shares have plunged because of President Barack Obama plan to limit their size and risky trading and his proposal of a special tax to recover bailout funds. He also has branded the latest round of bank bonuses as "obscene."

Top executives at Barclay's will defer up to 100 percent of their bonuses for up to three years ... Read more »

Views: 4161 | Added by: klon777 | Date: 24.01.2010 | Comments (1)

LONDON (AFP) – Britain's finance minister expressed scepticism Sunday at proposed US banking reforms, saying they would not have prevented the financial crisis and warning they risk undermining the global consensus.

President Barack Obama announced plans last week to limit the size and scope of US banks and financial firms, saying they would "never again" get so big that taxpayers have to bail them out or risk the economy.

The plans aim to limit "excessive" risk taking and to "protect" taxpayers by preventing banks or financial institutions from owning, investing in or sponsoring hedge fund or private equity funds.

But ... Read more »

Views: 4307 | Added by: klon777 | Date: 24.01.2010 | Comments (0)

WASHINGTON – A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance companies Fannie Mae and Freddie Mac and the establishment of a new system to provide money for U.S. home loans.

Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, said Friday he supports replacing the two companies entirely.

"I believe this committee will be recommending abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance," Frank said at a hearing on executive compensation issues. "That's the approach, rather than the piecemeal one."

His comments show how much the financial cris ... Read more »

Views: 5052 | Added by: klon777 | Date: 24.01.2010 | Comments (0)

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