FRANCE – Tap and pray: Paris church introduces contactless contributions

The Catholic Church has gone contactless in one parish in Paris: now you can simply touch your credit card to donate. On Sunday, the Saint-François de Molitor church in Paris’s 16th arrondissement launched an innovative new technology to transform the old-fashioned wicker basket into a contactless payment terminal. Five new high-tech baskets debuted at its 10.15am… Please follow and like us:

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Germany to add China’s yuan to currency reserves

Germany’s central bank has said it will include China’s yuan in its reserves, giving another boost to Beijing’s drive to internationalise the currency and helping send the unit to two year highs. The Bundesbank said its board had decided in July to invest in the renminbi, as it is also known, to take account of its… Please follow and like us:

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FRANCE – CHINA – Open markets, Macron tells China, or risk protectionist backlash

French President Emmanuel Macron focused on trade imbalances on the second day of his state visit to China, offering to open up France to Chinese investment in exchange for greater access to Chinese markets for French companies. Speaking to members of the French and Chinese business community at a start-up incubator, called Soho3Q, in Beijing, Macron… Please follow and like us:

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Google moved 16 bn euros to Bermuda to avoid tax: Bloomberg

Google moved 15.9 billion euros ($19.2 billion) to a Bermuda shell company in 2016, saving it billions of dollars in taxes that year, Bloomberg reported on Wednesday, quoting regulatory filings in the Netherlands. Google uses two structures, known as a “Double Irish” and a “Dutch Sandwich”, to shield the majority of its international profits from taxation,… Please follow and like us:

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Austria gas plant explosion leads to price hikes

The huge blast at a natural gas hub in eastern Austria has triggered price hikes across Europe. The flow of Russian gas into the hub dropped immediately after the inferno, causing prices in some parts of the continent to soar to unprecedented levels. The hub receives about 45 billion cubic metres of cubic metres of gas… Please follow and like us:

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Britain, EU in Brexit breakthrough

But leaders warn some difficult hurdles still need to be overcome The United Kingdom and the European Union announced a historic separation deal on Friday after half a year of tough negotiations. Both sides said the agreement marks “sufficient progress” that could pave the way for a second stage of talks about the future relationship between… Please follow and like us:

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Britain ‘agrees to pay’ EU’s Brexit divorce bill

European Union sources say the United Kingdom has offered to pay much of what Brussels was demanding to settle the so-called “divorce bill” – a crucial condition for moving Brexit negotiations on to future relations including a future free trade agreement. Numerous reports quote EU diplomats as saying that the British have made an offer that… Please follow and like us:

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EU cuts funding to Turkey in 2018 budget

An EU 2018 budget deal was announced Saturday that cuts funds destined to Turkey, citing doubts about Ankara’s commitment to democracy and human rights. German Chancellor Angela Merkel had led calls for a cut to the funds, which are linked to Turkey’s stalled bid to join the bloc, following mass-scale arrests in the country since the… Please follow and like us:

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China’s green bond market goes to internationalization: expert

LONDON – China’s green bonds market has taken important steps towards its internationalization, an expert in this new financial sector has said. Important issuances Sean Kidney, chief executive officer (CEO) of the international non-profit Climate Bonds Initiative, told Xinhua on Friday that issuances by three of the largest Chinese banks of green bonds were one of… Please follow and like us:

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EUROPE – French banks posted ‘multi-billion euro profits’ in tax havens

The Eurozone’s 20 biggest banks earned over a quarter of their profits in tax havens in 2015, according to a report released Monday by Oxfam. The report details how, in 2015, top Eurozone banks generated €25 billion in profits in low-tax territories like the Republic of Ireland, Luxembourg, the Cayman Islands and the American state of… Please follow and like us:

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SPAIN – EU arrest warrant sought for sacked Catalan leader Puigdemont as ministers jailed

Spain’s state prosecutor sought a European arrest warrant for former Catalan president Carles Puigdemont, now in Belgium, after he failed to appear at a High Court hearing on Thursday. A Spanish judge jailed eight former Catalan cabinet ministers. Other leaders of the independence drive, that has brought thousands onto the streets of Barcelona demonstrating both for… Please follow and like us:

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Europe – Airbus warns of fraud probe damage despite profits leap

European aircraft-builder Airbus announced a leap in profits in the third quarter of 2017 but warned that its financial performance could take a hit from corruption investigations in France and … “The investigations initiated by the UK’s Serious Fraud Office (SFO) and France’s Parquet National Financier (PNF)… could have a material impact on the financial statements,… Please follow and like us:

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Moody’s Warns That European Banks Are “Vulnerable” As Draghi Scales Back ECB Program

Today the European Central Bank announced that it would scale down its giant bond-buying program while extending it deep into 2018. This gradual taper is designed to put the region on a path to higher interest rates, and the economic recovery gathers pace without spooking markets. Get The Timeless Reading eBook in PDF Get the entire… Please follow and like us:

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Barclays banks soaring quarterly profit

British bank Barclays on Thursday logged soaring third-quarter net profits, buoyed by the absence of restructuring and mis-selling charges — and by improving UK profitability despite looming Brexit. However, Barclays’ shares tanked more than six percent on news of struggling trade at the group’s investment banking division. Earnings after taxation jumped to £583 million ($770 million,… Please follow and like us:

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Lloyds bank braves Brexit with surge in profits

Lloyds Banking Group said Wednesday that its net profit jumped 63 percent in the first nine months of 2017, as the British economy remains resilient in the face of Brexit. LBG in a statement that its bottom-line net profit rose to £2.8 billion ($3.7 billion, 3.1 billion euros) in the period from January to September from… Please follow and like us:

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