Tuesday, Nov 26, 2024

International Finance

Category : Banking

Switzerland Tops Financial Secrecy Index

International Finance Desk
by International Finance Desk
An estimated $ 21 trillion to $ 31 trillion of private financial wealth is located in untaxed or sparsely taxed secrecy jurisdictions, according to the Tax Justice Network. November 18, 2013 : Switzerland, the world’s largest centre for cross border wealth management, retained the top spot in a financial secrecy index by the Tax Justice Network...
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New ways to take control of compliance

International Finance Desk
by International Finance Desk
By Martin Scovell, CEO of MatsSoft November 11, 2013 : The glare of scrutiny upon our financial institutions has never been starker, as regulatory bodies and governments inflict ever greater levels of compliance.  The challenge of adapting to this scrutiny is exacerbated by the organisational pressures brought about by mergers and acquisitions, diversification, restructuring, rising consumer...
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McKinsey Report Says Twenty Percent of Banks May Shrink or Merge

International Finance Desk
by International Finance Desk
Return on equity (RoE) dropped as low as 4 percent across the industry in 2008 after the financial crisis and remains below the average cost of capital, estimated at 10-12 percent. November 8th ,2013 : One fifth of the world’s biggest banks may be broken up or sold as part of a “radical course correction” in...
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As SMEs fight for finance, banks scrap for Google rankings

International Finance Desk
by International Finance Desk
Research highlights the shift away from traditional bank lending to small business, which has shrunk by a quarter since 2011. November 8th, 2013 : The extreme difficulty some company owners have faced obtaining conventional bank borrowing over the past three years has proved the making of invoice discounting, an alternative funding mechanism in which money is...
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New report paints picture of 2022 payments

International Finance Desk
by International Finance Desk
The number of cash payments will fall from 21 billion in 2012 to around 14 billion in 2022, as people increasingly use alternatives such as cards and automated payments. October 17, 2013 Consumer card use will rise by 75% from nearly 10 billion payments in 2012 to nearly 17 billion in 2022, driven primarily by...
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Research reveals Universal Credit payment and budgeting advice gap

International Finance Desk
by International Finance Desk
Payments Council has created a new free guide to help people receiving Universal Credit manage their money and understand payments. October 16, 2013 Half of people eligible for Universal Credit concerned about managing cash flow after change to monthly payments Four in ten who are eligible for Universal Credit say they prefer to manage their...
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U.K. Banks Face “Stress Test” from BoE

International Finance Desk
by International Finance Desk
The BoE will start an annual test for the top eight UK lenders like Barclays, RBS and HSBC in 2014 and in the next five years it will be broadened out to include the UK subsidiaries of International banks. October  9, 2013 : In a path breaking initiative, the Bank of England will now have a...
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U.K Accounting Regulator Seeks Executive Pay Overhaul

International Finance Desk
by International Finance Desk
Regulators and government were contemplating for more than one year on ways to better align remuneration with company performance and hand more power to shareholders. October 7, 2013 : Clawing back bonuses from directors could be made easier as the U.K’s accounting regulator has said it may overhaul rules for corporate pay and introduce measures to...
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