Sam Chubbs Price

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PwC promoted tax avoidance 'on industrial scale', say MPs

<b>Accountancy firm PricewaterhouseCoopers (PwC) has been accused of promoting tax avoidance "on an industrial scale", in a report by MPs.</b><p>It is said to have helped hundreds of clients cut their corporation tax bills by setting up bases in Luxembourg.<p>Earlier this week the Archbishop of Canterbury said …

The solution to Italy’s woes is quite simple – leave the euro

Unless something big starts to change soon, Italy is on course for the mother and father of a sovereign default<p>No country epitomises the European economic malaise better than Italy. People often say that Italy cannot get into trouble because it is so rich. It is. Rich in natural beauty and …

Scottish referendum: pound could fall by another 15pc, so should I buy holiday money now?

Holidaymakers have already been hit by the fall in sterling, but it could get much worse if Scotland votes ‘yes’<p>Polls showing that Scotland will vote for independence have already sent the value of the pound sharply lower on foreign exchanges, meaning that holidaymakers get fewer dollars or euros …

What would independence really mean for Scotland's economy?

Alistair Darling seems to be a sucker for punishment. He was chancellor of the exchequer on the blackest day of the global financial crisis in the autumn of 2008, when the Royal Bank of Scotland was forced to tell the government that its cash machines would run out of money within three hours. Six …

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Gold and oil funds back in favour as investors fear Russian war

Exchange traded gold and oil products enjoy seventh straight weekly gain as investors seeks safe havens<p>Investors are once again piling into gold and oil exchange traded products (ETPs) in a rush to grab safe haven assets amid concerns over a military escalation between the West and Russia in the …

Germany must lead the way to eurozone growth

The country's establishment doesn’t seem to have grasped that what is good for one part of the system is not necessarily good for the system as a whole<p>As the weather begins to cool, the European crisis is hotting up. Pressure is mounting on the German establishment to decide what they want for the …

The euro has failed to boost trade between the countries that adopted it

Intra-eurozone exports peaked at around 52pc of the total in the late 1990s and have been in decline ever since<p>When the euro was launched, its primary selling point – at least to Brits who wanted to kid themselves this wasn’t all about political union – was that it would boost trade. The absence of …

What is an emerging market?

By nature, emerging markets are high-risk – but investing in a nation that's striving to become more advanced can benefit the right portfolio<p>Emerging markets are those that are in the process of rapid growth and industrialisation. They tend to have some characteristics of a developed market but …

Nobel economists say policy blunders pushing Europe into depression

German Chancellor Angela Merkel defends eurozone and says it is hard to manage a currency for 18 states<p>An array of Nobel economists have launched a blistering attack on the eurozone's economic strategy, warning that contractionary policies risk years of depression and a fresh eruption of the debt …

Britain is now the 'lowest-cost manufacturing economy of Western Europe'

Stable wages and improved productivity over the past decade made the UK increasingly competitive even compared to many Eastern European countries<p>The UK is recovering its mantle as a global manufacturing hub and is now one of the cheapest locations to produce goods in Western Europe, according to a …

Economics

PwC fined $25m for hiding bank's sanctions violations

Japan's biggest lender pressured PwC to delete a report on wire transfers the bank submitted to regulators<p>New York state has fined PricewaterhouseCoopers $25m and suspended some consulting work for two years after finding the company hid a Japanese bank's US sanctions violations.<p>Bank of …

Why the eurozone's woes could hurt the UK

Growth in the single currency bloc has ground to a halt, but how does this affect the UK?<p><b>Why is the eurozone in trouble?</b><p>Growth in the single currency bloc ground to a halt in the second quarter of the year.<p>This was mostly due to weaker-than-expected figures from the eurozone's economic …

Why Francois Hollande’s France has become the eurozone’s weak link

It feels as if France will eventually emerge as the euro’s biggest threat<p>It is hard to exaggerate the trouble that Francois Hollande, France’s president, now finds himself in. It is not just that his popularity has collapsed and that his misguided stewardship of the French economy has crippled his …

Capita and Serco: why outsourcing is a good thing for the taxpayer

Serco and Capita show that under-performance and incompetence by private companies in the provision of government work will have very serious consequences<p>The story of Serco and Capita’s diverging fortunes over the past year is a cautionary corporate tale worthy of gracing future business textbooks. …

Why first time buyers are still piling into a hot housing market

Lending to first time buyers hits record levels, as the desire to own a home negates high house prices and looming interest rate rises<p>Mortgage lending to first-time buyers has hit a seven-year high as the group continues to pile in to the housing market, despite high property prices, according to …

Three accounting blunders and embarrassments

As Aim-listed New Caledonia reveals it has to correct its figures after an accounting mix-up, we look at five other financial mistakes<p>Caledonia Mining Corporation has suffered the embarrassment of having to restate its first-quarter numbers after a blunder caused the gold miner to report profits …

Finance

How to profit from Japan's 'revolution'

An economic overhaul is underway in Japan aimed to put investors' interests first. Can you benefit?<p>Could a new stock market index help revitalise an entire economy, one that has been mired in stagnation for decades?<p>It may sound far-fetched but some professional investors think Japan's new Nikkei …