Big profits from managing short lead times helped Amancio Ortega—Spanish business magnate, founder and chairman of the Inditex fashion group—recently pass Bill Gates’s fortune for the second time.
UK-based Barclays has reduced its shareholding in Johannesburg-listed Barclays Africa from 62.3% to 50.1% this year and is believed to be seeking to reduce that stake further to around 20%.
Will bringing in an outsider revive the brand with fresh insight or cause it to stumble on the turns?
Although Liam Fox made headlines for saying British businessmen are too lazy to boost exports, less extensively reported remarks by the UK’s international trade secretary hint at a significant change in policy.
In potentially the biggest foreign corporate takeover ever by a German company, Bayer seeks to buy Monsanto for 62 billion. Werner Bauman gets into agribusiness.
Post-Brexit, real estate deals were supposed to decline--especially in London. Yet the market may prove more resilient than expected.
Blue-chip bond buys add liquidity fuel to companies already swimming in cash.
The EU hit Apple with a tax bill, but it's not the only company in regulators' sights. McDonalds, Facebook, Google and Amazon are being called on the carpet about tax practices too.
Ireland | Ireland has been a eurozone growth powerhouse in recent years, and remains strong, despite Brexit.
LOCATION TRENDS | Technology allows all sorts of work to be done anywhere. Many companies are taking advantage of this power to "nearshore" European operations from pricey major capitals to lower-cost locales.
Garvan Callan, director of customer, digital and innovation at Bank of Ireland, talks with Global Finance about the bank’s digital offerings.
Europe | Foreign direct investment (FDI) into Europe hit a record high in 2015 with 5,083 new cross-border projects, an increase of 14% from 2014, creating approximately 218,000 new jobs
Spain | Solid fundamentals and steady structural reform could be undercut by political chaos and global market turbulence.
PORTUGAL | With a hefty debt overhang, Portugal can’t quit now on structural reform.
The United Kingdom | Individuals and corporate teams alike are struggling through the implications of Brexit, looking for opportunities, and still hoping the whole thing will go away.
The promise of London’s new mayor, Sadiq Khan, to build 50,000 homes (half of them affordable) with a reasonable commute is being heralded but also questioned.
The Panama Papers’ revelation that Iceland’s prime minister had offshore interests, including claims on Icelandic banks, caused outrage in this naturally volcanic island state.
Capital Markets | Fixed Income
US companies are rushing to borrow in European bond markets. They’re taking advantage of low interest rates on euro-denominated issues after the European Central Bank’s decision to start buying investment-grade corporate bonds in June—part of its economic stimulus program. Last year already set a record for corporate borrowing in Europe’s bond markets, where rates are significantly lower than in the US.
Trends | Inversions
The US Treasury Department’s recent rules against corporate inversions are intended to stop “serial inverters.”
Tax Reporting & Compliance
The OECD’s “Base Erosion and Profit Shifting” principles are being incorporated into tax laws in some nations, requiring more transparency from corporate treasury departments.