A capital gains tax set to take effect in April 2015 which would be levied on the homes sold to people living abroad could diminish the status of London as a property magnet for foreign investors, Bloomberg reported.
Legal & Regulatory
Private equity under fire in Sweden as country reconsiders education model- report
The role of private equity firms in Sweden are now under close scrutiny as the country rethinks its pioneering educational reforms that are emulated worldwide, a Reuters Insight report said.
Volcker rule scrutinizes proprietary trading businesses
Major banks on Wall Street are extremely anxious about the threat of the final deliberations of the Volcker rule, of which its provisions regarding the definition and exemption of market-making is set to be deliberated soon.
Nokia to shell EUR355 million to India to transfer its domestic unit to Microsoft - sources
Sources noted that Nokia Oyj is in danger of finding a new buyer for its mobile handset business if it failed to lift the freeze on its Indian assets to be able to transfer them to Microsoft as part of its acquisition agreement.
Sovereign investor gets approval to trade on bond market
China sovereign investor Central Huijin Investment Ltd received approval the Shanghai Office of the People's Bank of China to trade on the interbank bond market, a Bloomberg report said.
Latest News
The Israeli parliament passed legislation on Monday aimed at improving economic competition by halting pyramid structures in companies and breaking up large conglomerates blamed for high living costs.
Tightening monetary policy in China has been reduced due to the slowing yearly consumer inflation rate of 3% in November from 3.2% the month before, said a Reuters report.
As the Volcker rule for banking and trading is being wrapped up by five US government agencies, politicians and advocates of the controversial Glass-Steagall legislation intended to push a revival of a version of its favored banking act should the former fail to curb risky betting by US banks.
Chinese state-owned firms are expected to lead the initial public offerings in the mainland next year after the lifting of the temporary ban on public share sales by the government, according to sources interviews by Bloomberg.
Bankers told the Financial Times that the news of HSBC's planned spinoff of its UK unit logically follows the ringfencing requirements that will be part of the UK Banking Reform Bill about to be passed through the British parliament.
Together with international asset chaser Martin Kenney, New York-based hedge fund Platinum Partners is planning to invest in the recovery of Brazilian fraud claims, a report from the Financial Times said.
Los Angeles has filed a case against Bank of America for discriminatory mortgage lending among the minority communities in the city, Reuters reported citing a court filing.
The World Trade Organization finally agreed on its first global trade deal on Saturday, December 7. The agreement could add nearly USD 1 trillion to the worldwide economy.
General Electric Co agreed on a USD 18.25 million settlement of a class action lawsuit that accused the company of rigging bids for municipal bonds, according to a Reuters report.
