Archive for April, 2012

  • Rules relaxed for pension schemes

    April 28th, 2012

    26 April 2012 Last updated at 19:01 ET The Pensions Regulator has recognised the damage done to pension schemes by quantitative easing Continue reading the main story Annuities: Making it easier to buy the best one Pensions tax relief: How much can be saved? Automatic pension enrolment timetable Colman’s staff keen on pensions protest The Pensions Regulator is to relax the rules governing 300 UK company pensions to help deal with funding shortfalls. The schemes, with around 600,000 members, are to be given extra leeway to help them survive …

  • Breakfast at Tiffany’s house sells for $6m

    April 27th, 2012

    Holly Golightley's house has sold for $6m. The New York town house, located at 169 East 71st Street, was made famous by its starring role in the classic Audrey Hepburn movie Breakfast at Tiffany's. The four-storey brownstone building was placed on the market last December by its owner, Mr. Baconvic, who purchased the home for just $1.8m back in 2000. Now, just a few months later, the property has been sold for $5.97m to an unknown buyer, just about its asking price of $5.85m. "Besides star power, it boasts five fireplaces, i…

  • Brits get ready to buy by transferring money abroad

    April 27th, 2012

    Brits are getting ready to buy by transferring money abroad, according to Knight Frank. An increasing number of UK investors are sending money overseas to purchase a second home, the agency's head of residential development James Price told OPP this week. "The recession here in the UK is not really a factor," he commented. "People want to move at the higher end for tax reasons… this is a result more of the pull of both climate and culture, rather than any perceived ‘push' from the UK." Price's comm…

  • Bulgaria Ethnic Turks Urge IMF Deal, Cite Looming Recession

    April 27th, 2012

    Bulgaria’s opposition ethnic Turkish party has joined socialists in calling for an urgent deal with the International Monetary Fund (IMF), saying the country badly needs it. “It is clear that Bulgaria’s economy is about to enter recession. An agreement with the IMF, if not a panacea, will assure international financial markets that the country is stable,” Yordan Tsonev, an economist and Deputy Chair of the ethnic Turkish Movement for Rights and Freedoms (DPS) party, told Darik radio on Thursday. According to Tsonev an agreement with IMF, not a…

  • Sterling closing in on new high versus Euro

    April 27th, 2012

    By Sue Brown, 25 Apr 2012 The pound has made some solid gains this week, seeing it test highs against the euro set all the way back in the beginning of September 2010. In addition to also breaching a 4½ month high against the dollar on Monday, trade-weighted Sterling (against a basket of currencies) scaled a 13 month peak – its highest since February 2011.Speculation has been mounting in recent months over the state of the UK economy, and the likelihood of the economy slipping back in to recession. Growth figures released today showing a d…

  • Spanish bank’s 50% discount Costa relaunch

    April 27th, 2012

    By Kevin Barnett, 25 Apr 2012 One of Spain’s biggest banks is planning a property sales bonanza after an international investment company pulled out of a deal to buy a completed sea view development near the location of Clint Eastwood’s A Fistful of Dollars movie hit.The multi million euro deal fell through after months of negotiations when the investment consortium didn’t produce a few dollars more to snap-up scores of pueblo-style apartments with panoramic views to the Costa Almeria beaches. They had stepped in after seein…

  • Why Hasn’t the Euro Fallen More in the Crisis?

    April 26th, 2012

    As Europe’s sovereign debt crisis has ground on and the once unthinkable prospect of a breakup of the Continent’s currency union has become a realistic possibility, the euro itself has remained surprisingly resilient, especially against the dollar. With a few exceptions, the euro has traded over $1.30 for the past couple of years. Why, I wondered, hasn’t all of the hemming and hawing among Europe’s leaders taken more of a toll on the common currency? This is a matter of particular importance to me as I plan a move to Berlin, where I mi…

  • Why Hasn’t the Euro Fallen More in the Crisis?

    April 26th, 2012

    As Europe’s sovereign debt crisis has ground on and the once unthinkable prospect of a breakup of the Continent’s currency union has become a realistic possibility, the euro itself has remained surprisingly resilient, especially against the dollar. With a few exceptions, the euro has traded over $1.30 for the past couple of years. Why, I wondered, hasn’t all of the hemming and hawing among Europe’s leaders taken more of a toll on the common currency? This is a matter of particular importance to me as I plan a move to Berlin, where I mi…

  • UK falls back into recession

    April 26th, 2012

    This morning’s news that GDP fell in the first quarter of 2012 will not help the Pound’s prospects after a solid performance in recent weeks.Official figures showed a 0.2% contraction in the economy in the first 3 months this year, which on top of a 0.3% contraction at the end of 2011, mean that we are now officially back in recession.The Pound fell nearly a cent against both the Euro and US Dollar on the release this morning, although has recovered a little since, given that the US and Eurozone economies are in at least as much trouble as the …

  • Ruling halts £100m in tax relief

    April 25th, 2012

    24 April 2012 Last updated at 06:18 ET Film investment schemes have been put under the microscope by tax officials Continue reading the main story Charitable giving amid the furore Most common tax avoidance schemes Corporation tax: Easy to avoid? New plans to tackle tax avoidance Tax officials have welcomed a ruling that prevents a group of wealthy investors from claiming more than £100m in tax relief. The case surrounded a deal in film distribution rights, and involved investors including Manchester United manager Sir Alex Ferguson. The d…

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