GBP News 

The British Virgin Islands is trying to prove its not a tax haven — campaigners aren’t buying it

“Transparency and tax campaigners are clashing with officials from the British Virgin Islands (BVI) over a new report claiming the Caribbean islands are not a tax haven” writes Camilla Hodgson for businessinsider.com.au. They argue the BVI’s commitment to zero tax and levels of secrecy encourage financial crimes and allows corporations and individuals to evade tax.In the UK alone, it estimates investments made via BVI companies generate $US3.9 billion in income and corporate tax.The Tax Justice Network strongly disputes this, estimating the amount of tax lost to leakage at $US37.5 billion…

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GBP News 

Brits’ bogus food poisoning claims leave hoteliers crying: ‘¡Basta!’

“None of the Brits complained to the hotel at the time; all the claims were lodged by UK claims management companies once the holiday-makers returned home” writes Patrick Collinson for theguardian.com. But last year Miguel was hit by around 200 claims alleging food poisoning.Miguel’s hotel has fallen victim to the epidemic of holiday-sickness claims that has begun to rival bogus whiplash claims in both their prevalence and resulting price tag. Source: theguardian.com Share This:

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GBP News 

British lawmakers get hit by a cyber security attack that prevents them from using email

“Part of the GCHQ spy agency, the National Cyber Security center was set up in October last year to tackle what the government believes is one of the biggest threats to British security” writes Clodagh Kilcoyne for cnbc.com. Britain’s parliament was hit by a cyber attack on Saturday in which hackers tried to access email accounts, politicians and officials said, just over a month after a ransomware attack crippled parts of the country’s health service.”We know that our public services are attacked so it’s not at all surprising that there…

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GBP News 

Report: British parliament hit by cyber security attack

“LONDON (Reuters) – The British parliament has been hit by a cyber attack that is preventing lawmakers from accessing their emails when not in Westminster, politicians and media reports said on Saturday” reports businessinsider.com. The Telegraph newspaper said lawmakers were alerted to the hack on Friday and were unable to access their email accounts on Saturday. Chris Rennard, a member of the Liberal Democrat party in the upper House of Lords, said on Twitter: “Cyber security attack on Westminster, Parliamentary emails may not work remotely, Text urgent messages.”.  Source: businessinsider.com…

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GBP News 

British lawmakers hit by cyber security attack

“Chris Rennard, a member of the Liberal Democrat party in the upper House of Lords, was the first to draw attention to the problem, using Twitter to announce: “Cyber security attack on Westminster, Parliamentary emails may not work remotely, Text urgent messages.”” writes Aol Staff for aol.com. “We know that our public services are attacked so it’s not at all surprising that there should be an attempt to hack into parliamentary emails.”. The BBC said lawmakers were unable to access their emails away from Westminster due to the steps being…

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GBP News Signals 

Summary: Commitment of Traders for BRITISH POUND STERLING – CHICAGO MERCANTILE EXCHANGE Option and Futures Combined Positions as of 2017-06-20

Open interest has decreased by -69307, making in total 236256. Commercials were net buyers. Their net position decreased by -4277 totalling 34766. Major holders of open interest where longs of commercials with 53.8%, having next commercials with 39.1% in shorts. Signal: bullish. Share This:

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GBP Markets News Stocks 

The day after Brexit: Remembering a chaotic day in the markets one year ago

“Markets around the world crashed, investors flooded into safe havens like gold, and panic spread” writes Will Martin for businessinsider.com.au. Business Insider took a look back at one of the wildest days in recent markets history. The link is the interconnection between gold and wider financial markets.” Get the latest Gold price here. Source: businessinsider.com.au Share This:

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GBP Markets News Regulators 

London could lose out as ECB seeks control of euro clearing after Brexit

“The euro clearing issue is one of many competitive threats to the City in the wake of the Brexit vote” writes Jill Treanor for theguardian.com. The argument about where euro clearing should take place raged even before the referendum.London is facing renewed pressure over its dominance of the €1tn (£880bn)-a-day euro clearing market after the European Central Bank set out proposals aimed at giving it more oversight of the lucrative business.The move by the Frankfurt-based ECB – the central bank for the 19 countries using the euro – follows a…

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