Personal Finance

Apple is Just the Beginning for Ireland

When the European Union decided to fine Apple €13.5 billion for tax evasion in Ireland last week, it didn’t take long for the Irish government to join with Apple to announce it would appeal the ruling.

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Digital Finance's Rapid Growth Across Asia

Over 31 million consumers in Vietnam researched or purchased a product online in 2015. Just ten years ago, internet connectivity was only starting to become common. Digitization is changing how people trade. There are even more dramatic changes happening under the hood. The way trade is financed, processed and regulated has entered a period of disruption. We take this opportunity to consider the short and long-term implications of digitization of the trade process. They’re not what you’d expect.

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Australia's Coalition Government has a Plan to Deal with Tax Avoidance

Although the Coalition government has been reinstated, it is still faced with the problem of dealing with multinational tax avoidance. The issue escaped a lot of scrutiny during the election campaign and the current measures designed to address the issue fail to deal with the most common form of avoidance - interest deductions on intra-group debt.

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Less Stress Doesn't Mean No Bank Failures

Last month, the Federal Reserve announced that 31 out of 33 U.S. banks had passed its latest “stress test,” designed to ensure that the largest financial institutions have enough capital to withstand a severe economic shock.

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Dealing with Italian Banks' 'Pre-existing Conditions'

How exceptional are market developments?  Much rests on the answer.  If these are extraordinary circumstances, then Japanese intervention becomes more likely.  Of course, Japanese policymakers have been inclined to intervene before the UK referendum but were seemingly rebuffed by its G7 partners.  In Europe, the designation of "exceptional circumstances" is critical. Such a designation could soften the EU strictures.  Italy is on the leading the push in this direction.

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Should Student Loan Debt Forgiveness Go Beyond the Defrauded?

Outstanding student loan debt in the United States reached a record US$1.35 trillion in March, up six percent from a year earlier.  About 10 million people who borrowed from the government’s main student loan program – 43 percent – are currently behind or no longer making payments, with more than a third of them in default. Some students are especially at risk, such as those who attended for-profit institutions.

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Are Fewer Indian Public Sector Banks Better?

In India’s most recent budget, Finance Minister Arun Jaitley formally announced that it would slash the number of Indian public sector banks from the current 27 to just 10. Consolidating India’s public sector banks will result in improved efficiency, greater economies of scale and large-scale financial institutions that can cater to the needs of a growing economy.

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Australia's Retail Banking may go the Way of the UK

The idea of separating out the arms of the “Big Four” banks like insurance and superannuation from their core banking business is gaining traction in Australia. It featured in the Greens' banking and finance election policy. However, this is not a new idea; Australia is just catching up to banking reforms already made by the UK.

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Are They All 'Debt Traps'?

One of the few lending options available to the poor may soon evaporate if a new rule proposed June 2 goes into effect.  The Consumer Financial Protection Bureau (CFPB) announced the rule with the aim of eliminating what it called “debt traps” caused by the US$38.5 billion payday loan market.

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Tax 'Super Changes' are Taxing

Any change in taxation invariably raises questions about distribution. Who loses, who wins – and who loses most – will always be an issue. However, such analysis should be applied with care, lest it miss the bigger picture.

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