News 

European PFM provider is partnering with its first Southeast Asian bank

“London-headquartered personal finance management (PFM) solution provider Meniga has partnered with the United Overseas Bank (UOB), to help the bank’s users of its digital challenger bank better manage their finances” writes Lea Nonninger for businessinsider.com. Additionally, the fact that an Asian bank sought out a European PFM solution provider may suggest that Europe is at the forefront when it comes to offering such services.Meniga’s other partner banks, include Canada-based Tangerine, Swedbank, and Santander. Source: businessinsider.com Share This:

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GBP News 

Brexit could cause ‘serious damage’ for foreign investment into the UK, new study says

“Foreign investment into the U.K. has fallen by 19 percent since the Brexit vote in 2016, a new study has found” writes unknown author for cnbc.com. It has been the longest continuous decline for the U.K. since foreign direct investment (FDI) records began in 2003, it said.While the world economy remained resilient last year, the U.K. lost an estimated $1.5 billion in foreign capital investment, the report said.Published Thursday, the report by the University of Sussex’s U.K. Trade Policy Observatory showed that overseas investment has continuously declined since its peak…

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News 

Under Armour quarterly revenue beats estimates on overseas growth

“FILE PHOTO: A display for Under Armour merchandise is seen inside an athletic store in New York Thomson Reuters (Reuters) – Under Armour Inc’s third-quarter revenue topped Wall Street estimates on Tuesday, as its expansion overseas helped offset stagnating sales in the United States” reports businessinsider.com. Net revenue rose 2.4 percent to $1.44 billion, edging past analysts’ average estimate of $1.42 billion, according to Refinitiv data. Source: businessinsider.com Share This:

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News 

Trump outlines plan to lower Medicare drug prices to match prices overseas

“The goal is to help lower costs and bring U.S. prices in line with prices paid by European countries” reports washingtonexaminer.com. The reason for the discrepancy is likely that most European countries have a single-payer government-run systems in which the government directly negotiates for lower prices. Source: washingtonexaminer.com Share This:

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Crypto News 

Crypto Octoberfest: Bithumb Launches Cashback Promotion for Overseas Users

“Overseas customers of the firm can earn a cashback of 70% of the transaction fees paid during the event duration” writes Kuldeep Kaul for livebitcoinnews.com. Offering a cashback promotion is a pretty solid idea, overall.International customers who have executed trades during the promotion period can check their current trade volume by clicking on the button.According to the report, the event is an expression of appreciation by the company for the support and loyalty by its overseas customers.Bithumb, the leading Korean cryptocurrency exchange, is holding a promotional event during which international…

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News 

In Dem Tax Plan, Middle Class Pays While Rich Find Shelters

“Lower tax rates across the board and the elimination of loopholes will keep capital in the country” reports thehill.com. The lower tax rates bring in more revenue than expected, as the federal haul reached a record level earlier this year.Yes, Republicans are the only party whose policies will prevent billions of dollars from being patriated overseas to avoid higher income taxes.Tax rates were finally low enough that it made economic sense to bring significant capital home.About half of federal revenue comes through income taxes, with the top 10 percent of…

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News 

Chinese firms are spending less on overseas deals, but they’ve become more strategic

“China’s foreign mergers and acquisitions slowed again in the first half of this year, according to global management consulting firm Bain and Company” writes Lintao Zhang for cnbc.com. Chinese overseas acquisitions during the first half of this year reached $22 billion — significantly less than the $56.7 billion the same period in 2017 and $118.7 billion during the first half of 2016, according to Bain.The report attributed the slowdown to factors such as the weakening Chinese yuan, the trade war with the United States, investment restrictions by some countries and…

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News 

Number of overseas and Mainland companies in Hong Kong keeps rising

“In terms of jobs, the number of people engaged by the overseas and Mainland companies reached 485,000, compared to 443,000 in 2017” reports financefeeds.com. The number of businesses in Hong Kong with parent companies overseas and in Mainland China increased to 8,754 in 2018, compared to 8,225 a year ago, according to the results of a joint survey conducted by Invest Hong Kong (InvestHK) and the Census and Statistics Department (C&SD). Source: financefeeds.com Share This:

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China’s overseas investment drops in 2017 for the first time on record

“China’s annual foreign direct investment outflows declined in 2017 for the first time on record, according to a government report released Friday” writes unknown author for cnbc.com. Figures from 2002 to 2005 include only non-financial outward foreign direct investment, while numbers from 2006 onward include all industries.Last year, China’s annual outward direct investment dropped 19.3 percent to $158.29 billion, from $196.15 billion in 2016, according to government statistics.Chinese investments in the U.S. was $6.43 billion in 2017 — down 62.1 percent from a year ago, the report showed. Source: cnbc.com Share…

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