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Global Ports shrugs off Turkish volatility as weak lira bolsters profits

“The boss of London-listed ports operator Global Ports Holding insisted it was not suffering as a result of economic volatility in its home country of Turkey as it unveiled a surge in revenues and underlying profits” writes Jack Torrance for telegraph.co.uk. Mr Sayin said: “All of our revenues are hard currency and our cost base in Turkey is mostly Turkish lira, so in fact the weak lira actually helps us and increases our profit margins. Source: telegraph.co.uk Share This:

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Don’t worry, America: Canada’s corporate tax cuts did not deepen its deficit

“As President Trump mulls a second round of corporate tax cuts, this time targeting capital gains, his initial reduction of the corporate tax rate from 35 percent to 21 percent remains controversial in many quarters” writes Istock Photo for washingtonexaminer.com. In 2000, Jean Chretien’s Liberal government in Ottawa began lowering the Canadian federal corporate tax rate from its long-time plateau of 28 percent.The corporate tax reform that took place in Canada was largely a success, helping to grow the economy.The way this works is that corporate tax cuts attract more…

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How the UK is raking in tax – and how it compares with the world

“The UK has the 22nd highest tax-to-GDP ratio out of 80 countries, according to new data released by the OECD. With total tax revenues standing at 33.2pc of GDP in 2016, the UK has a higher ratio than countries such as the United States, Ireland, Australia and Canada” writes Tom Stevenson for telegraph.co.uk. Many European countries have higher tax-to-GDP ratios than the UK, with Denmark, France and Belgium having the highest ratios on the OECD rankings. Eight European countries, along with Cuba, make up the nine countries on the list where tax…

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Plus500 registers steep rise in client acquisition costs in Q2 2018

“However, the acquisition cost per new customer fell in the first half of 2018, with the broker attributing this to its optimisation initiatives” reports financefeeds.com. Online trading company Plus500 Ltd (LON:PLUS) has marked an increase in marketing spending in the second quarter of 2018, according to the latest metrics the broker has just posted. Source: financefeeds.com Share This:

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Deutsche Telekom again lifts core profits guidance

“Deutsche Telekom’s revenues declined by 2.8 percent, year on year, to 18.37 billion euros, shy of expectations in the company’s own poll of analysts” writes Midwest Communications Inc for 95kqds.com. Adjusted net profit, the key metric for setting dividends in Deutsche Telekom’s recently adopted mid-term strategy, rose 3.3 percent to 1.238 billion euros.On an organic basis, stripping out the impact of exchange rate fluctuations, revenues and adjusted EBITDA grew by 1.3 percent and 3.9 percent respectively. Source: 95kqds.com Share This:

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Commerzbank profit boosted by higher revenues

“Commerzbank AG (CBK.XE) said Tuesday that net profit rose in the second quarter, boosted by increased revenues” writes Anthony Shevlin for marketwatch.com. Net profit was 272 million euros ($314.3 million) compared with a net loss of EUR640 million the previous year.Commerzbank said the risk result under International Financial Reporting Standard 9 should be below EUR500 million.The bank expects costs to be around EUR7.1 billion compared with previous guidance of EUR7.0 billion.Loan-loss provisions, which the bank calls risk result, stood at EUR84 million. Source: marketwatch.com Share This:

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A Blueprint for Digital Companies’ Financial Reporting

“Based on these insights, we now propose a new blueprint for financial reporting of digital companies” reports hbr.org. By investing in digital companies, investors are often buying call options on moonshot projects with lottery-like payoffs.Information on revenue and its drivers are, without doubt, the digital companies’ most value-relevant disclosures from the investors’ perspective.Modern digital companies such as Uber, Facebook, and Alphabet play an increasingly important role in the economy, but their financial statements fail to capture company’s main value drivers.The second item in a firms’ financial disclosures should be a…

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Amazon reports 1.7 million pound UK tax bill due to share deductions

“Amazon group books most of its $11.4 billion of UK revenues via a UK branch of Luxembourg-based Amazon EU Sarl, Amazon’s main European operating unit” reports businessinsider.com. Amazon EU Sarl’s UK branch doesn’t publish accounts so it’s unclear how much UK tax Amazon pays in total, but it’s likely that bill was above the reported charge of 1.7 million pounds last year.If Amazon UK Services Ltd had paid the prevailing rate of tax of around 19 percent on its profits, its total bill would have been 14 million pounds.Amazon has…

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When you think Harley-Davidson, think electric scooters in India. At least that’s the new plan

“The strategy will come at a steep price” writes Charles Fleming for latimes.com. Levatich said the company’s multiple-year expansion could require a total investment of up to $825 million through 2022.But he added that the company expects to increase annual revenues by $1 billion to $1.5 billion by then. The investment goal can be met by “self-funding,” he said, without raising new equity or debt. Source: latimes.com Share This:

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Nasdaq Sees $19 million YoY Increase in Revenues in Q2

“The increase in revenue was a result of organic revenue growth, the positive impact from changes in FX and revenue reduction” reports financemagnates.com. For the second quarter, revenues for the segment came in at $21 million, up by $2 million.According to the report, net revenues for the second quarter of 2018 was $615 million.From this $1 million was organic growth due to higher NFX (neutral foreign exchange) net revenues.This was a three percent increase compared to the second quarter of 2017. Source: financemagnates.com Share This:

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