Finance

    • Euro zone second-quarter growth halves

      Euro zone second-quarter growth halves

      Euro zone economic growth halved in the April-June period and inflation slowed sharply in July even though the unemployment rate fell to its lowest in 11 years, data from the European Union’s statistics office showed on Wednesday.

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    • UK assets worth 800bn pounds to move to EU

      UK assets worth 800bn pounds to move to EU

      Assets worth nearly £800bn are in the process of shifting from Britain to new financial hubs in the European Union due to upcoming Brexit, consultancy EY announced on Monday. EY has been tracking the Brexit plans of 222 financial firms since the UK voted in June 2016 to leave the bloc. In its latest update to the end of November 2018, it said that 80 firms are considering or have confirmed relocating assets and staff. This means that more than £800bn in assets would move, a fraction of Britain’s 8 trillion pound banking sector.

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    • EU ministers battle over digital tax

      EU ministers battle over digital tax

      EU finance ministers battled Saturday in Vienna over a controversial proposal to slap a European tax on US tech giants amid rising worries that it is ineffective and protectionist. Under the proposal from the European Commission in March, EU states would charge a 3 percent levy on digital revenues of large firms like Google and Facebook that are accused of routing their profits to the bloc's low-tax states.

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