Donald Trump rose to power in the US in large part due to his promise to revitalise and grow the country’s economy, and business and trade and industry infrastructure. Whilst, where Trump is concerned, it is almost impossible to separate the reality from the “fake news”, many early indicators have provided evidence of an upturn. Read more
There is nothing unremarkable about a shipment of soybeans from Argentina to Malaysia; nor is it surprising when a transaction of this nature is financed using a letter of credit, issued by one bank, on behalf of the buyer, to another. Read more
Japan’s Mitsubishi Corp & Financial Group To Build International Money Transfer Network Using Ripple’s Distributed Ledger Tech
Mitsubishi Corp and Mitsubishi UFJ Financial Group are the latest major financial institutions to announce they will be launching an international money transfer system built on the blockchain. Specifically, the firms will be using the distributed ledger technology developed by California based Ripple, which has also been trialled by the likes of Western Union, MoneyGram, the Saudi Central Bank, and China’s Lian Lian bank. Read more
Despite initially indicating that it did not want to damage the autonomy of its overseas territories, the UK government now looks set to pass a bill that will force the likes of the British Virgin Islands, Bermuda, Gibraltar and the Cayman Islands to reveal and publish the names of the beneficial owners of the offshore companies registered there by 2020. Read more
Exclusive London properties are selling at their biggest discount to asking price in over a decade, and attracting more foreign buyers, particularly from the Middle East, than domestic ones, according to research from Hamptons Property Agents.
The trend looks to be spreading beyond London, too; research from Knight Frank released in February this year suggests that very nearly half of all country estates in Britain with a value above £5m were sold to foreign nationals in 2017. Read more
In another sign that fintech firms are increasingly beginning to rival major banks for the provision of core mainstream personal finance services, money transfer startup TransferWise announced in April that it has been accepted to join Britain’s Faster Payments Scheme. Read more
DBS, the Singapore based bank with a network of 280 branches across 18 key markets in Asia, today announced a partnership with bank messaging service SWIFT to use its Global Payments Innovation service (gpi) to offer 200,000 corporate and SME clients increased transaction visibility and speed for their overseas money transfer activities. Read more
The Spanish bank Santander has announced that it is launching an international money transfer service that will run using blockchain technology in an attempt to take on disruptive fintech startups such as TransferWise and Revolut, who have been eating into banks’ share of a market worth an estimated $600bn per annum. Read more
The European market still holds sway over Asia and America when it comes to British companies doing business overseas, according to a new survey from the Institute of Directors. Read more
The market for international B2B money transfer is worth an estimated $150 trillion, and is set to grow to $218 trillion by 2022, fuelled by disruptive money transfer services, a new report says. Read more
In a sense, all businesses “export” their products. After all, in today’s globalised world, it is almost as easy to dispatch a product to the South of France, India, or Mexico, as it is to send it a few streets away! Read more
President Trump’s tax reforms have paved the way for some of America’s biggest companies to start moving the enormous piles of cash they have been storing overseas back into the country.
Firms like Cisco, which announced last week that it plans to repatriate around $67 billion in foreign profits during 2018, and Apple, which intends to bring back hundreds of billions of dollars, are taking advantage of Trump’s tax reforms, which have slashed the cost of paying tax on accumulated foreign income to just 15.5% for cash, payable over 8 years. Read more
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If you are one of the 40,000+ workers in the agriculture sector expected to descend upon the East of England Showground near Peterborough for this year’s LAMMA show – the UK’s Leading Farm Machinery, Equipment and Services Show, then you are probably mulling over the following options.
Do I buy new, buy second hand, or stick with what I have? Read more
Peterborough is once again the venue for an event that consistently attracts the cream of international manufacturers and suppliers of farm machinery, equipment and agricultural services, and the mainly UK based farmers, contractors and rural businesses looking to invest in new equipment.
Last year saw more than 40,000 visitors descend on the East of England Showground, and more than 850 companies exhibit. The event represents the perfect opportunity for farmers and manufacturers to discuss the latest products on display in an informal atmosphere, view the latest technological innovations, and ultimately, to make deals. Read more