In The News

SEC Seeks Offshore Cash Disclosure

Helen Thomas September 26, 2011
The US Securities and Exchange Commission is “pushing” companies to disclose to investors their offshore cash holdings, reports Helen Thomas for the Financial Times. Such disclosures could “be relevant and material to understanding a company’s liquidity,” Thomas adds. US regulations require companies to pay taxes of up to 35 percent on income earned overseas and repatriated to the US, providing...

Going... Going... Greece on the Brink

Maria Margaronis September 22, 2011
The social turmoil, bitterness and political infighting that accompany Greece’s debt crisis could offer a preview for other nations that fail to practice fiscal discipline. In exchange for loans, Greece’s creditors demand that the government cut spending, lay off public employees, reduce entitlements and raise taxes. A series of quick fixes and delays have given savviest creditors time to prepare...

China Plays Hard Ball

François Godement September 19, 2011
European nations deep in debt are playing a dangerous game with China by teasing global markets. Neither borrowers nor would-be rescuers offer transparency about how much European debt China holds. Sensing that China is increasingly the only available willing buyer, leaders like Wen Jiabao allude to conditional lending, urging an end to anti-dumping charges or allowing asset sales that benefit...

Bridges to Somewhere

Justin Yifu Lin September 15, 2011
Following the financial crisis of 2008, the developed world still faces weak growth prospects and dim employment forecasts, and leaders in the US and Europe urge debt reduction. In this Foreign Policy article, Justin Yifu Lin of the World Bank makes a strong case for global infrastructure initiative, encouraging developed countries to invest billions of dollars on infrastructure projects at home...

Portugal’s Jobless Graduates Flee to Africa and Brazil

Lucy Ash September 13, 2011
Despite troubled histories, colonial powers and their former colonies have maintained close relations, largely due to shared languages. This often resulted in what’s been called “brain drain,” the large-scale immigration of professionals from the former colonies to the former colonial powers in search of economic opportunity. Lucy Ash of BBC News describes a reversal in the traditional migration...

Swiss Franc Decision Should Be a Lesson for Euro Critics

Charles Hawley September 9, 2011
European economies, strong and weak, have their doubts about the continent’s common currency. Strong exporters like Germany are weary of bailing out spendthrifts, and spenders like Italy and Greece resent austerity measures imposed on them by their euro partners. Developing rescue packages is an ongoing challenge. But like it or not, Europe realized Tuesday that the euro and other European...

Argentina Acts to Protect Local Films

Jude Webber September 7, 2011
More often than not, protectionism represents desperation. The Argentine state film institute has begun imposing fines on foreign film, reports Jude Webber for the Financial Times. The extra fees, to be levied on films shown on more than 161 Argentine screens, are intended to curtail mass releases of Hollywood blockbusters, Webber reports, and collect revenues “to protect national filmmakers.”...