The Swiss government plans to dramatically increase international cooperation on fiscal transparency, sharing private information about clients of the country’s banks. The move aims to put an end to Switzerland’s long-protected banking secrecy practices as well as stopping wealthy foreigners from hiding their undeclared income in the country. Source: RT
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George Soros, the billionaire who earned fame by betting against the pound in 1992, said Britain was approaching a tipping point that would see the economy slow to such an extent that Brexit might even be reversed. Source Reuters
Germany’s Thyssenkrupp (TKAG.DE) said it planned cost cuts worth at least 100 million euros ($112 million) to meet financial targets at its troubled unit that engineers industrial plants and builds ships, despite early signs of improvement. Source Reuters
The migration policies of the political and other elites of Europe suggest that they are suicidal. The interesting thing to watch in the years ahead will be whether the publics join them in that pact. I wouldn’t bet on it. Source The Wall Street Journal