United Kingdom

After Its "Predatory Tax Grab", Europe Prepares Crackdown On Amazon, McDonald's

With Europe desperate to boost its dwindling public coffers and only starting tits anti-tax avoidance campaign, AAPL is only the start in the European Commission's crackdown.  As the WSJ writes, following today's ruling that Apple got an unfair advantage over its competitors because of help it got from Ireland government’s, the EU’s antitrust regulator is likely next to turn to two other ongoing tax investigations on its docket: Amazon.com and McDonald's.

Assange Assassination Attempt? Cops Took 2 Hours To Respond To Embassy Breach

The Wikileaks Twitter account reported early this week that an unidentified man attempted to scale the wall of the Ecuadorian Embassy in the U.K. at 2:47 am. The “cat burglar” escaped security and managed to flee to safety while embassy security waited two hours for U.K. police to take the two minute walk from the police station to the embassy housing internationally-known whistleblower Julian Assange

Nigel Farage Cheers "Anti-Establishment" Victory At Trump Rally - Live Feed

(In)famous British politician Nigel Farage will address a Trump rally in Mississippi tonight, telling "the story of the Brexit campaign," explaining to the audience "how the anti-establishment can beat the establishment." While Farage is not expected to directly endorse Trump, Sky reports that the Brexiteer railed against the political classes on local Mississipe radio today, and compared Mr Trump's popularity with the "silent majority" of the British people who voted for Brexit.

Migrant Problems Still Threaten Europe

The picture drawn by the present migration into Europe may fundamentally undermine the "Refugees Welcome" narrative that dominated news reports last year, but the continent-wide economic ramifications of its effects on a country such as Italy, already subject to considerable political tumult, should not be underestimated.

What? Me Worry? Volatility & The Election

2016 is an anomaly. Going into one of the more unpredictable elections, implied volatility is trading at a discount to realized volatility. Strangely, the equity markets trade as if the election results, be it a Clinton or Trump victory, are inconsequential for share prices. That stance is greatly at odds with what many of us think, as well as the palpable anxiety voiced by many traditional and social media outlets.

Islam's "Quiet Conquest" Of Europe

"Dear Europeans, continue to think about a shorter working week, early retirement, abortion on demand and adultery in the afternoon. With your laws, we will conquer you. With our laws, we will convert you...".

Iran Is Cheating On The Nuclear Deal, Now What?

One year into the nuclear deal, two credible and timely intelligence reports reveal that Iran has no intention of honoring the terms of the deal, which, anyway, it never signed. Germany's domestic intelligence agency revealed that the Iranian government has pursued a "clandestine" path to obtain illicit nuclear technology and equipment from German companies "at what is, even by international standards, a quantitatively high level." What has been President Obama's reaction to these crucial intelligence reports? Silence.

BOE Cuts By 25 bps To Record Low 0.25%, Boosts QE By £60 BN Including Corporate Bonds; Gilt Yields Crash

As expected, the Bank of England unanimously cut rates by 25 bps to a record low 0.25%. However in a somewhat surprising move, the BOE also expand its QE by £60 billiion to £435 billion in a 6-3 vote, of which up to £10 billion will be in the form of corporate bond purchases, as we previewed last night. Overall a very dovish decision, with Mark Carney providing more monetary stimulus than many had expected, sending sterling plunging and the FTSE100 surging.

One Month Later - Brexit Post-Mortem

One month on from the referendum, there is no sign of the Treasury’s $4300-loss VAR model predictions coming to fruition. London is teeming with people, many of them foreign visitors, spending money in cafes, restaurants, theatres and other visitor attractions. The country roads are still jammed with caravans, tractors, tourists and white vans trying in all their productive mayhem to go about their business. Wimpish businessmen dithering over trade and investment plans are being forced to get on with life... and our long-abandoned trade friends in the Commonwealth are keen to talk to us, as is China. And who can forget President Obama’s threat when it came to negotiating T-TIP with the EU? Well, we are no longer at the back of the queue, but at the front of the line.