The economies of the Asia Pacific are booming so quickly that within 15 years more than two thirds of the world’s middle class will live in the region, according to new research. In contrast, Europe’s proportion of the global middle class population will drop by 14%. The figures are revealed in a report called ‘Hitting … Read more
Another batch of disappointed Singapore QROPS investors have received letters from HM Revenue and Customs (HMRC) demanding 55% of their pension pot transferred in to an illegal scheme as a tax penalty. The demand is for investors to pay an unauthorised payment charge for joining a Qualifying Recognised Overseas Pension Scheme (QROPS) which was later … Read more
The future of exchange traded products (ETP) in Europe is set to double after a ‘wild ride’, says one shares expert. Mark Wiedman, the global head of iShares, which is part of asset management firm BlackRock’s ETP platform, says the sector will grow to more than £580 billion by the end of 2017. Growth will … Read more
Property investors are exploiting the dire state of Spain’s property market by demanding hefty discounts on asking prices. According to one Spanish property website, pisos.com, the gap between what a vendor asks and the buying price is widening and has now reached an average of £36,000. People looking at selling property must also contend with … Read more
Expats have voted for their favourite destinations in a new global survey – and the US is the firm favourite while China languishes near the bottom. America topped two surveys out in the same week with the first, by pollsters Gallup, asking people around the world where they would love to live if given the … Read more
iPhone maker Apple is handing back £39 billion to shareholders via a share buyback scheme. The massive hand out shouldn’t hurt the company too much since it has around £94 billion in cash stashed in the bank. The company is also aiming to raise dividends by 15%. There’s been an increasingly vocal campaign from shareholders … Read more
Prosecutions for tax dodging jumped by more than half last year as HM Revenue and Customs stepped up the drive against fraud. As a result, lawyers are warning taxpayers and businesses to put their finances in order to avoid HMRC prying in to their affairs. Figures released by HMRC show 240 taxpayers and businesses were … Read more
Retirement savers are failing to review their pension plans and are not saving enough to fund their later years, according to new research. Around 14% of British savers with private pensions have not bothered looking at the performance of their plan in the last three years, says a survey by Duncan Lawrie Private Bank. Around … Read more
They said it wouldn’t happen, but now economic analysts say there is a currency war in progress. The issue is that Japan has begun to devalue the yen in a bid to make exports cheaper, which in turn will help boost its flagging economy and boost its GDP. Though like most things in life there … Read more