News 

Why free-market economists aren’t impressed with Trump’s deregulation efforts

“Along with tax cuts, deregulation is one of the signature policies of the Trump administration” writes Scott Sumner for marketwatch.com. Attorney General Jeff Sessions reversed Obama administration policy and began adopting a stricter stance against marijuana legalization in the states.The Trump administration seems intent on freeing up banks to take greater risks, without first removing the federal policies that already encourage excessive risk taking.While the Trump administration likes to say it is cutting regulations, the truth is that the number of regulations has continued to increase.The Trump administration has not…

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News 

UK regulator fines Santander over handling accounts of deceased customers

“The Financial Conduct Authority (FCA) said Santander UK did not transfer funds worth more that 183 million pounds to beneficiaries, directly affecting 40,428 customers” writes Alice Tidey for cnbc.com. Britain’s financial watchdog said it had fined Santander UK Plc 32.8 million pounds ($41.49 million) after it failed to effectively process the accounts and investments of customers who had died. “We have now transferred the majority of customer funds and made significant improvements to our whole probate and bereavement process.”.  Source: cnbc.com Share This:

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GBP News 

High taxes could hasten bank moves from Britain after Brexit

“LONDON (Reuters) – Britain risks driving banks overseas if current high levels of taxation on the industry are maintained after Brexit, a bank lobby group said on Wednesday” writes Midwest Communications Inc for 95kqds.com. Banks face higher taxes than other firms in Britain, after an additional corporation tax surcharge and levy on assets were imposed after the crisis.UK Finance, which represents the country’s finance sector, has published research showing a typical bank in London has a higher tax burden than in rival international financial centres.Finance firms paid a record 75…

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Markets News Regulators 

Why are markets falling, and are we heading for global recession?

“Oil prices have had a rollercoaster couple of years, so a surge or sudden drop in the price of crude could pose problems for the world economy” writes Nils Pratley Financial for theguardian.com. Added into the mix is the risk that Trump’s trade war with China could escalate with damaging consequences for the world economy.Global growth is forecast to plateau, while some major nations including the US and China are on track to see slower rates of growth.Besides the risks from Brexit, the US-China trade war and the Fed aggressively…

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News 

Britain’s RBS appoints Katie Murray as finance chief

“Royal Bank of Scotland has appointed Katie Murray as chief financial officer, the bank said on Tuesday, making permanent a role she has held on an interim basis since August” writes unknown author for cnbc.com. Murray will become the first woman to hold the finance chief post at RBS when she takes up the job on Jan. 1.Her appointment comes at a time when RBS is in its healthiest state since the 2008 financial crisis, having undergone a decade-long restructuring that saw it shrink from a failed international expansion to…

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Crypto News 

New Financial Projects Gain Momentum in Period of Political Uncertainty

“This is because blockchain technology is a public record, it is transparent, and it is immutable” reports financemagnates.com. Blockchain technology allows us to tackle humanitarian crises and to achieve social impact.The project needs builders, scientists and experts in identity, privacy, and financial governance, as well as philanthropists and ambassadors. Source: financemagnates.com Share This:

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Crypto News Platforms 

FSMA Flags 14 Crypto Trading Platforms, as Crypto Scams Grow

“You can see the list of the 14 suspected scams and their websites here” writes Celeste Skinner for financemagnates.com. However, some of the trading platforms don’t just offer cryptocurrencies, they also offer more traditional financial instruments to trade such as foreign exchange, indexes and commodities.With the additions, the list of suspected cryptocurrency scams now includes a total of 113 websites.In addition, the FSMA also highlights that despite previous warnings, the regulator is still receiving new complaints from consumers who have invested in virtual currencies through these trading platforms.The Financial Services and…

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News 

This is exactly what families must earn in each state to afford housing, child care and food

“That means that in a given month, they are unable to pay for their housing, child care, food, and transportation costs” writes Kari Paul for marketwatch.com. South Dakota has the lowest annual threshold to achieve financial security, at $24,648 per household, while Washington, D.C. has the highest at $50,508.The numbers climb even higher for families with children, the charts show. “Having children can put economic security increasingly out of reach,’ the report said. Source: marketwatch.com Share This:

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News 

Cash-strapped South African Airways expands Emirates code sharing

“JOHANNESBURG (Reuters) – South African Airways (SAA) said on Tuesday that it had signed a deal with Emirates [EMIRA.UL] to expand an existing codeshare agreement, in a rare bright spot for the cash-strapped airline” writes Midwest Communications Inc for 95kqds.com. The state-owned carrier, which has not made a profit since 2011 and survives on government handouts, said the agreement would see the two airlines leverage each other’s route networks, cargo services and flight schedules to boost passenger flows.South African President Cyril Ramaphosa has been at pains to stabilize ailing firms…

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Markets News 

When a Country is Facing Political and Human Rights Issues, Should Businesses Leave or Stay?

“A decision based on short-term financial or legal motives alone is destined to end in problems” reports hbr.org. The first thing to note is that a decision based on short-term financial or legal motives alone is destined to end in problems.Questions involving issues like politics, human rights, or equality present themselves sooner or later for any business operating in global markets.Leaving a country in order to prevent short-term financial losses isn’t a panacea either. Source: hbr.org Share This:

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