George Hay writes about the banking and property sectors. He joined from Thomson Financial News, where he was a companies correspondent. Before that he worked at United Business Media, where he was news editor of Building Magazine. He has a first in English Literature from Edinburgh University, and was nominated in two categories at the 2009 Business Journalist of the Year Awards. Follow George on Twitter @gfhay
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The London mayor, an American citizen, objects to paying a U.S. capital gains levy on his UK residence. Uncle Sam’s ex-pat tax laws are worthy of reform. But if Johnson really cares about that, the way to show it is to clear his debt and then campaign for change.
Leaked central bank correspondence from the recent Cypriot crisis underlines how emergency liquidity assistance to weak banks had become ad hoc and political. Now that the ECB is supervising euro zone banks, it should take over - with ELA risks shared by all member states.
Bank debt that turns into equity when shares are losing value hardly sounds appealing, but the German lender has sold a $1.5 bln tranche of it at a relatively low spread. Why? There’s a 7.5 pct yield, and ECB bond-buying creates scarcity while EU stress tests give comfort.
- Foreign banks’ tricky call on Hungary: stay or go?
- Barclays’ forex delay looks like bad news
- Global banks prepare for un-level playing field
- Barclays rebirth hinges on leverage ratio clarity
- Deutsche Bank’s fixed income wager yet to pay off
- Lloyds’ dividend return may come sooner not later
- EU bank stress-test winners still short of capital