UK investors to be hit by tax despite UK opt-out
UK investors purchasing securities in countries that have signed up to the financial transaction tax (FTT) will be subject to the charge, despite the UK not having signed up.
Eu
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First ever cut to EU budget announced
The EU multi-year budget has been cut for the first time ever following 24 hours of negotiations.
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europe not to follow uk ban on ifa commission
The European Union is not going to follow in the FSA’s footsteps and implement a blanket ban on commisison payments from financial product providers to its distributors.
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turner eu could constrain effectiveness of fpc
Forthcoming EU legislation could reduce the flexibility of the Financial Policy Committee to act in the interests of the UK, according to Lord Turner, chairman of the FSA.
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pa analysis eu summits unlikely to make policy decisions
Neither the EU summit this weekend nor the follow-up in early November are likely to reveal the policy decisions an end to the eurozone crisis is clammering for.
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Moody’s downgrades Portugese government debt to junk
Ratings agency Moody’s has cut Portugal’s long-term government debt to below investment grade.
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Rioters fail as Greek ministers vote “Yes” to tax hikes
Greek ministers voted “Yes” to a five-year plan of austerity measures of tax rises and spending cuts
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Greece likely to be nursed through to June’s EU/IMF payment
Mark Holman looks at the issues facing Greece as its next quarterly EU/IMF bailout payment falls due
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IMA to redefine money market funds in line with new EU rules
The IMA is to adopt the new definition of money market funds as per FSA and EU guidelines.
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PA ANALYSIS: Greek default is a necessary line in the sand
A Greek default has been called a ‘Lehman moment’ but it may prove to be a new beginning.
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PA ANALYSIS: Talking heads are of little use to the eurozone
Bond yields for the peripheral eurozone economies have hit fresh record highs.
