News
Tax & Regulation | news 19 Jun 17
UK hints at tax rises amid election uncertainty
British chancellor Philip Hammond has hinted at tax rises to help fund an end to the government’s austerity programme as prime minister Theresa May has yet to secure a deal that will allow the Conservatives to stay in power.
PEOPLE MOVES: Barings, BNP Paribas, PraxisIFM
Baring Asset Management’s heads of EMEA wholesale distribution and global marketing have left the business. BNP Paribas AM has a new Asia Pacific head of institutional sales and currencies portfolio manager. Channel Islands-based PraxisIFM is focusing on client risk with its latest promotion.
Ronaldo eyes Spanish exit in anger over tax fraud charges
Football legend Cristiano Ronaldo may have decided to leave Real Madrid amid claims he is angry at his treatment by Spanish authorities and reports that Portugal has launched its own tax fraud probe into the world’s highest paid athlete.
US seeks recovery of $1.7bn from scandal-hit 1MDB fund
The US Department of Justice (DOJ) is working to recover around $1.7bn (£1.3bn, €1.5bn) in assets linked to an international conspiracy to launder funds misappropriated from Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB).
Macro Views | news 16 Jun 17
Gulf nations push up interest rates after Fed move
Saudi Arabia and the UAE, along with Qatar, Bahrain and Jordan have raised interest rates in line with this week’s decision by the US central bank to hike its Federal funds rate by 25 basis points to 1.25%.