The UK Her Majesty's Revenue and Customs (HMRC) received many messages about citizens who could withdraw money abroad. The messages were received within an automatic exchange of information. However, the tax authorities don’t have time to study them, so they send letters to potential tax evaders asking them to confess. The HMRC has been "littered" with reports of accounts in foreign banks, which...

In the III quarter of 2019, Hong Kong's GDP has been falling at the highest rate since 2009, by 3.2% quarterly, and a recession has begun in the region's economy. In the second quarter, Hong Kong's economy fell 0.4% compared with January-March. In annual terms, in the III quarter, the economy declined 2.9% after rising 0.5% in the previous quarter. The pace of the economic downturn exceeded...

The association of Brazil, Russia, India, China and South Africa as BRICS no longer makes economic sense, S&P analysts said. The term BRIC (originally without South Africa) was proposed in 2001 by Jim O`Neill, Head of Goldman Sachs asset management division. In his opinion, large countries with developing economies were united by favorable prospects for GDP growth and strengthening roles in the...

After a four-year break, Argentina turned left once again. Leaders of Cuba, Bolivia, and Venezuela were among the first to send congratulatory telegrams to former Argentinean Prime Minister Alberto Fernandez, who won Sunday's presidential election. Together with him, Cristina Fernandez de Kirchner, who led Argentina in 2007-2015, was elected as Vice President. During the election campaign, this...

Evaluation of the US national brand grew by 7.2% to $ 27.751 trillion since last year, China's brand valuation soared by 40.5% to $ 19.486 trillion, and the brand of Germany fell by 5.7% to $ 4.855 trillion. These are the results of a new study by Brand Finance study. All three countries remain the most expensive brands in the world. The brand assessment took into account the country's GDP,...

The Hong Kong government withdrew an extradition bill from Parliament. Previously, the paper caused months of protests in the former British colony, which has the status of the Special Administrative Region of China. Fulfillment of the protesters ’main demand was the first serious victory of Hong Kong’s non-systemic opposition, which began the fight against China’s political, economic and...

Total well-being of the world population from July 2018 to the end of June 2019 grew by $ 9.1 trillion, or 2.6%, and exceeded $ 360.6 trillion, according to the Global Wealth Report by Credit Suisse bank. Due to the fact that welfare increased faster than population growth, the rate per adult increased by 1.2% and reached a record level of $ 70.849 thousand. Switzerland once again became the...

On Thursday, British Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker unexpectedly announced that they would reach an agreement between the EU and London on Brexit. Head of the British government expressed confidence that the new agreement will be ratified by October 31, and EU leaders have already supported the agreement. Now the floor belongs to the European...

The British postal service Royal Mail will strike, seeking to improve working conditions. The action may affect Black Friday, end-November sales and Christmas, BBC News reports. More than 97% of the members of the Communication Workers Union (CWU), the postal workers union, which unites about 110,000 people, voted for the strike. The turnout was 76%. The terms and conditions of the strike have...