The European Commission has proposed to extend a set of rules to control traffic of virtual currency and prepaid cards. This way, the EC intends to tighten measures to combat money laundering and financing of terrorism. In addition, the EU executive body’s decision is also aimed at strengthening supervision of bank accounts and improving transparency of trust funds owners throughout the EU. The...

Last year was the in the history when European advertisers spent on the Internet promotion more than on TV advertising, according to a report of IAB market research firm, prepared in cooperation with IHS Advertising Media Intelligence Service and comScore. Spending on the Internet advertising grew over the year by 13% to 36.4 billion euros, while TV promo has remained approximately at the same...

Morgan Stanley investment bank composed a list of US shares that have been unfairly hit by the British decision to leave the EU. Announcement of results of the referendum on Great Britain’s exit from the European Union led to a collapse of stock markets around the world on Friday, 24 June. Panic-stricken investors got rid of stocks by transferring funds into defensive assets. In total, global...

China is not a country with high growth rates and low wages anymore. Now, it has entered a new phase of development. The People’s Republic of China is still a major economic force, but not such a powerful driver of the world’s economic growth as it used to be. International capitalism needs a region with low salaries and high growth rate to obtain high returns on risk capital. Thus, in the...

British retailer John Lewis has joined ranks of startups investors. Until now, such investments have been made mainly by technological or financial companies. Among them are Microsoft and Barclays - they have been up for startups incubators for years. Now, their example has been followed by companies from unexpected sectors, including retailers Topshop and Asos, betting house William Hill and...

By the end of 2015, Google and Facebook have taken 52.3% of the US mobile advertising market, reports eMarketer. Google’s share was 32.9%, or $ 10.02 billion, and Facebook ceized 19,4%, or $ 5.9 billion. Twitter is on the third place with a share of 3.8%; Yahoo and Apple occupy the fourth and the fifth positions with share of 2.9% and 2.6%, respectively. EMarketer estimated that volume of all US...

Labor productivity growth in Ireland and Spain is higher than that in Germany, France and the Netherlands, according to PwC. Economies of these peripheral euro zone countries are growing at the fastest pace in the region. PwC recorded the highest rate of labor productivity growth in Ireland. The rise is about 7% over a three-year period until 2015. On average, labor productivity in the euro area...

Major currency traders have warned that the dollar may collapse against other currencies after the US presidential elections to be held in November. In particular, JP Morgan Chase & Co., the second-largest currency trader in the world, leaves open a possibility that investors may go over to other currencies such as the euro and the yen, against a background of radical change in US trade...

The US economy is impressive. To understand scale of the country’s GDP, which in 2015 amounted to $ 18 trillion, experts at Zerohedge compared economies of individual states with economies of entire nations. Here are some interesting facts. 1. California has the largest state GDP in the US. It was $ 2.44 trillion in 2015, which is slightly larger than GDP of France during the same period ($ 2.42...