Personal Finance

Due Process in Imposing Taxation, Important Today, Began 800 Years Ago


If you ask anyone what the Magna Carta is all about, you might be told that it is some sort of proto-human rights or constitutional document. This largely results from the fame and after-life of two particular clauses (39 and 40) – and the way the document has been interpreted and used over time. Such principles, though, played no part in its creation in 1215. Then, it was a kind of peace treaty between King John and the barons, and in many ways a financial peace treaty at that.

What is Your Sovereign Credit Rating?


We have produced this ratings model to assist investors in assessing relative sovereign risk over a wide range of Developed Markets (DM), 29 in all. Scores directly reflect a country’s creditworthiness and its underlying ability to service sovereign debt obligations.

Mobile Payments: The Present and the Future of Transactions


It is often said that in business, non-progredi est regredi (if you are not moving forward, you are going backward).

This maxim has never been more relevant than in modern-day America. Technology has grown leaps and bounds and is always evolving. This has resulted in the creation of many innovative solutions for business owners as well.

How to Serve Millions of Potential Banking Customers in Asia


Analyzing microfinance loans is one way to collect “alternative data” on consumer debt levels and ability to repay.

Every time I stop and withdraw cash from an ATM or use my credit card to buy something online, I wonder how many people in Asia have access to such services. In fact, these simple transactions are beyond the reach of 45% of adults in East Asia and the Pacific alone. The formal financial system excludes them and it will remain so until they open a bank account.

Tax Evasion Exposes a Broken System


There has been an international outcry over the leaked HSBC files, which provide evidence that the bank’s Swiss arm helped wealthy clients put millions of dollars’ worth of assets out of the reach of the tax authorities. Naturally, politicians from all parties have responded by committing to holding anyone found guilty of tax evasion accountable for their actions.

Is P2P Lending Becoming Banks Outsourcing Their Loan Process...and Risk?


Peer-to-peer lending, the online platforms which allow you and I to lend directly to people and businesses who want to borrow, has been hailed as disruptive technology. Cheered by savers who have been stuck with rock-bottom interest rates, and by those who have sought finance from reluctant banks, the industry has grown exponentially since its birth in 2005. It has been seen as one in the eye for a financial sector at the heart of a crisis which has punished us all; which is why it might be off-putting to now see Goldman Sachs lurking with intent.

CDS Sellers Could Benefit from Having Lender's Rights


In 2009, US trucking company YRC Worldwide faced ruin as it struggled to restructure its debt. With tens of thousands of jobs at stake, the Teamsters union, led by James Hoffa, accused some YRC bondholders of sabotaging restructuring negotiations by purchasing credit default swaps (CDS) on their debt.

A Job-Killing Corporate Accounting Change?


A modest change in an accounting rule is normally too much inside baseball to attract notice. But a proposal by the institutions that set accounting standards for publicly traded companies is prompting criticism from Congress and corporate America, backed by estimates that the change could kill millions of US jobs.