2014.10.26

News Headlines - 26 October 2014

About 25 Eurozone Banks to Fail ECB Stress Tests - WSJ

About 25 eurozone banks failed the European Central Bank’s financial-health checks, although more than half of these lenders have taken the necessary steps to shore up their balance sheets this year, according to a person familiar with the matter.
Of these banks, 11 or 12 still have additional capital needs, according to the person. There are no German or French banks among those dozen or so lenders, though there are Italian banks, the person said.

Hong Kong Protesters Delay Referendum Amid Differences - Bloomberg

Hong Kong pro-democracy protesters, who have blocked major thoroughfares, snarled traffic and disrupted businesses in the city for more than a month, have delayed a planned referendum because of differences in the movement on the issues to be voted on and method of polling.

Hundreds Give Up U.S. Passports After New Tax Rules Start - Bloomberg

People giving up their nationality at U.S. embassies increased to 776 in the third quarter, from 560 in the year-earlier period, according to Federal Register data published yesterday.
Tougher asset-disclosure rules that started July 1 under the Foreign Account Tax Compliance Act, or Fatca, prompted more of the estimated 6 million Americans living overseas to give up their passports. The appeal of U.S. citizenship for expatriates faded further as more than 100 Swiss banks began to turn over data on American clients to avoid prosecution for helping tax evaders.

British towns being ‘swamped’ by immigrants, says Michael Fallon | The Guardian

Michael Fallon, the defence secretary, has claimed that British towns are being “swamped” by immigrants and their residents are “under siege”, in an escalation of the emotive language being used by Tory ministers calling for a renegotiation of the UK’s relationship with Europe.

UK forces and US Marines end Afghan combat operations - FT.com

British forces and US Marines formally ended their combat operations in Afghanistan on Sunday after 13 years of war that overthrew the Taliban regime and helped install a fragile democracy but failed to defeat the Islamist militants on the battlefield.


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