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 “Why Are US Corporate Giants Moving $3.1 Trillion of Assets Held Overseas Back Onshore?”
Bank of England Governor Mark Carney announced today that the BoE’s Monetary Policy Committee have voted unanimously to hold interest rates at 0.5%, before warning; don’t be surprised if we raise them twice before the year is out.
Carney and the BoE are battling rising inflation, which has fallen 0.1%, to 3% from November to December. It’s not enough, they say, and have now set a target of bringing the level down below 2% within 2 years, as opposed to the 3 year timeframe that had previously been indicated. Read more “The Role Of Import, Export & Exchange Rates On BoE’s Interest Rate Decision, & What It Means For The Rest Of 2018”
Davos, it is said, doesn’t know quite what to make of Donald Trump. On the one hand, there is outrage, stemming from the POTUS’ decision to pull out of the Paris Climate Agreement, his outspoken views on immigration, and his deeply unpopular and controversial domestic policies. Read more “Resilient Economy, Weak Dollar & A Burgeoning Relationship; A Good Time To Swap Pounds For Dollars?”