The EAPO Regulation adopted in Luxembourg has been established to facilitate cross-border debt recovery by creditors. This regulation allows the freezing of the debtor’s bank account maintained in any EU Member state by a single order issued by another EU member state. The regulation is binding in all EU member states except the UK and […]
Another record close on Wall Street as tax deal progresses
US stocks on Wall Street closed at record highs again on Thursday, amid signs that Congress is closer to a deal on a budget and tax cuts. Financial and technology firms – among those expected to enjoy the greatest benefit from tax cuts – led the gains. The technology-focused NASDAQ rose 50.7 points, or 0.8%, to 6,585.3. […]
Bank calls for Brexit transition deal by Christmas
The UK and the EU must agree on a Brexit transition deal by Christmas or risk banks triggering their contingency plans, the Bank of England has warned. Deputy Governor Sam Woods said that while the UK is committed to an implementation period, the EU’s position “is not yet clear”. If no deal is reached, banks […]
Vijay Mallya: India tycoon faces new money-laundering charges
Indian drinks tycoon Vijay Mallya, who is charged with committing fraud in India, has been re-arrested in London for new money- laundering charges He appeared at Westminster Magistrates’ Court on Tuesday afternoon, after India issued new charges of money-laundering against him. Mr Mallya denies any wrongdoing. The allegations are linked to the collapse of his airline, […]
Amazon and Apple caught in latest EU tax crackdown
The European Union has launched a fresh crackdown over taxes paid by tech giants Amazon and Apple. Amazon has been ordered to repay €250m (£221m; $293m) in back taxes after the European Commission said it had been given an unfair tax deal in Luxembourg. The Commission also plans to take Ireland to court over its […]
Twitter trials 280-character tweet limit
Social media site Twitter is trialling longer character tweets limits to help users “easily express themselves”. Twitter currently limits tweets to 140 characters, but has doubled that to 280 characters for a small group of users. The current character limit was “a major cause of frustration” for some users, the firm said in a blog post. […]
Dyson to make electric cars from 2020
Dyson, the engineering company best known for its vacuum cleaners and fans, plans to spend £2bn developing a “radical” electric car. The battery-powered vehicle is due to be launched in 2020. Dyson says 400 staff have been working on the secret project for the past two years at its headquarters in Malmesbury, Wiltshire. However, the […]
UK annual growth rate for second quarter revised down
The UK’s economy grew at its slowest annual pace since 2013 in the three months to June, according to revised official figures. Gross domestic product (GDP) grew by 1.5% from a year earlier, the Office for National Statistics (ONS) said, down from an earlier estimate of 1.7%. However, the quarterly growth rate remained unchanged at […]
Equifax raises the impact of US data breach
Equifax has revealed 2.5 million more Americans than previously thought may have had information compromised in a huge cyber security data breach at the firm. The credit report giant said on Monday about 145.5 million of its US customers might have been affected, up from a previous estimate of 143 million. The update came a day […]
Saudi Arabian women targeted with car adverts
Some of the world’s biggest car makers have started advertising their vehicles directly to women in Saudi Arabia. The swift move follows the official announcement on 27 September by King Salman that the country’s ban on women drivers will end in June next year. The decision has immediately created a potential new market of several million, […]