The British government is going to create a special catalogue to register beneficial owners of foreign companies through which local real estate is bough. The authorities believe that such a register is necessary to combat money laundering and tax evasion. The UK Ministry of Business, Energy and Industrial Strategy (BEIS) announced plans to create a special register of beneficial owners of...

Volume of global debt burden (including corporate sector, households, public sector) for 2016 grew by $ 7.6 trillion - up to $ 215 trillion, or 325% of GDP. This is $ 70 trillion more than ten years ago, says Washington Institute of International Finance (IIF). The problem of refinancing debts isn’t so acute now (including risks associated with strengthening dollar). Nevertheless, IIF notes that...

Chinese business has set sights on a possibility of building plants in Mexico. Chinese companies decided to consider this prospect after US President Donald Trump threatened to impose a high tax on cars exported from Mexico, Reuters reports. As a result, automotive companies Fiat and General Motor, aimed at the US market, announced their decision to stop developing production facilities in...

Investors will not take their money from France, if the country leaves the euro area, said Marin Le Pen, French presidential candidate from the ultra-right-wing National Front party. Le Pen previously promised to hold a referendum and return the French national currency, franc, if elected as Head of State. In an interview with the French media, Le Pen said that if elected on May 7, she would...

Local authorities contacted offices of financial holding company Credit Suisse in London, Paris and Amsterdam to resolve issue of taxing their clients. This happened after the Dutch prosecutors seized a number of assets and detained two people in an investigation into the tax evasion case, Reuters reports. The Dutch Fiscal Information and Investigation Service (FIOD) reported that coordinated...

Yesterday late in the evening, Donald Trump signed a decree to abolish Barack Obama’s policy in the field of combating climate change. Among other things, this means a significant softening of environmental requirements for industrial corporations. Consequently, shares of coal corporations have soared in price by 15%. Abolition of measures to combat climate change was one of Donald Trump's main...

The Greek government and its citizens found themselves in dire straits. Greeks are massively withdrawing money from bank accounts, or are transferring savings to foreign banks. The government is trying to negotiate with foreign creditors about a new tranche. In return, they require new reforms and austerity measures. If the situation is not resolved in the near future, a new round of financial...

German Chancellor Angela Merkel is about to face another test on her way to the September parliamentary elections. On Sunday, the federal state of Saarland will hold election of the local parliament (the Landtag). For the first time since 1994 the election can result in defeat of the Christian Democratic Union (CDU) of Angela Merkel. The union’s main rivals, Social Democrats, are on the rise...

On March 22, a man in a car drove into a crowd on the Westminster Bridge in London, and then stabbed several policemen on the British Parliament’s territory of. The attacker was shot dead, three more people were killed, more than 40 people - injured. The British police regard the incident as a terrorist attack. The Times (London, UK) Although little is known about organizers of the Westminster...