Wall Street sets record highs after passage of Donald Trump’s tax cuts

Investors buy heavily into US shares in wake of Senate’s passage of package of big tax cuts for corporations and high earners   Shares on Wall Street have hit record levels as financial markets around the world anticipate the biggest package of US tax cuts since Ronald Reagan was in the White House in the … Continue reading Wall Street sets record highs after passage of Donald Trump’s tax cuts

Bitcoin: UK and EU plan crackdown amid crime and tax evasion fears

Cryptocurrency close to record price despite news Treasury plans to end traders’ anonymity  EU is taking action to regulate trading in the cryptocurrency   The UK and other EU governments are planning a crackdown on bitcoin amid growing concerns that the digital currency is being used for money laundering and tax evasion. The Treasury plans … Continue reading Bitcoin: UK and EU plan crackdown amid crime and tax evasion fears

Sterling spikes on news of UK-Ireland trade breakthrough

Sterling soared higher on Monday afternoon amid optimism that Brexit talks will break the current deadlock and move onto topics like a future trade deal between the two sides. At around midday, the pound hit a day's high of 1.3523 against the dollar after news emerged that Westminster will concede on EU trade rules for … Continue reading Sterling spikes on news of UK-Ireland trade breakthrough

Financial markets could be over-heating, warns central bank body

Bank for International Settlements’ quarterly health check warns global economy resembles era just before financial crash     Investors are ignoring warning signs that financial markets could be overheating and consumer debts are rising to unsustainable levels, the global body for central banks has warned in its quarterly financial health check. The Bank for International … Continue reading Financial markets could be over-heating, warns central bank body

UK warned on cost of ‘hard Brexit’

The leading authority on world trade has told the BBC that there are likely to be costs attached to a "hard Brexit" Roberto Azevedo, director general of the World Trade Organisation, said that negotiations between the UK and the European Union would be difficult and "extremely unpredictable". He said achieving a smooth exit and a … Continue reading UK warned on cost of ‘hard Brexit’