Are we heading towards a cashless economy?

Cashless could be on the cards as banks weigh up the pros and consCould cash become obsolete?

We’ve all become more wedded to plastic as advancements in technology allow us to pay for everything from a breakfast muffin to a wide-screen TV with a credit card. But the idea of a cashless economy seems unthinkable. Central banks are evaluating the situation, though, to enable them to exert more control over economic recovery measures. It’s no good establishing QE and negative interest rates to stimulate the economy if people hoard cash instead. Read more…

What’s a Brexit and what would it mean for the US?

How does speculation over Britain’s potential exit from the EU affect the US?British exit from EU could affect US markets

Brexit is a term that may well be unfamiliar to many Americans, although there could be repercussions down the line, should the UK vote to leave the EU in the June referendum. Britain’s prime minister David Cameron has been trying to renegotiate key agreements with the EU to improve its position within the union. But with US interests closely connected to those of the UK and the outcome of the vote far from certain, it’s worth paying attention to proceedings. Read more…

Is the honeymoon period over for tech companies?

Tech companies forced to face up to responsibilitiesTech companies forced to face up to responsibilities

For a long time, technology companies have basked at the top of the commercial hierarchy. Software giants such as Microsoft who’ve come to prominence as a result of the innovation of their geeky founders, making money as if they were printing it and pushing their tech agenda to number one position on the cool list. The workaday compliance issues, environmental problems and industry regulations that hound other, less glamorous, sectors haven’t wiped the gloss of this one, until now. Read more…

 

Why are ex-pat Americans giving up their passports?

Why are ex-pat Americans giving up their passports?Growing numbers of Americans are renouncing US citizenship

According the US Treasury, increasing numbers of Americans are renouncing their citizenship. One of the main reasons for this seems to be Fatca (the Foreign Account Tax Compliance Act), a citizen-based taxation system introduced in 2012. The law is aimed at taxing wealthy Americans and requires citizens to file a tax return, no matter where in the world they live. It also means some people are liable to pay US taxes on top of those required by their country of residence. Read more…