The Editorial Team |

U.K. Opens Door to Scientists But Warns Businesses on Brexit

LONDON (Capital Markets in Africa) – The U.K. will relax visa rules for top scientists next month while pledging to clamp down on low-skilled migration after Brexit. The U.K. is due to leave the European Union in five days’ time and the government has promised to end free movement by EU citizens. Immigration was a key issue during the Brexit referendum and Prime Minister Boris Johnson is proposing a points-based system that prioritizes higher-skilled workers….

U.K. Should Cut Salary Threshold for Top Migrants, Advisers Say

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LONDON (Capital Markets in Africa) – Boris Johnson’s British government should lower its proposed minimum salary threshold of 30,000 pounds for migrants and create a new route for the most talented people who don’t have a job offer, in order to avoid worker shortages after Brexit, a group of advisers said Tuesday. The U.K. is due to leave the European Union in four days’ time and the government has promised to end free movement by EU citizens….

A Brutal Brexit Is Lose-Lose for City and EU: Lionel Laurent

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LONDON (Capital Markets in Africa) – Eleven months of trade talks are not enough for London to offset the loss of its biggest export market. Nor is it enough for Paris, Frankfurt or Dublin. London wasn’t always the be-all-and-end-all for European finance. It took a deregulation drive under Margaret Thatcher in the 1980s — known as the Big Bang — and Britain’s contribution to the launch of the European single market in the 1990s to…

Johnson Walks Huawei Tightrope as U.K. Sets Up Clash With Trump

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NEW YORK (Capital Markets in Africa) – It’s the kind of balancing act Britain may have to get used to as the country forges its way in the world after leaving the European Union. Three days before Brexit becomes reality after years of infighting, the government in London is trying to reconcile an increasingly truculent U.S. with the demands of the domestic market in the debate over whether Huawei Technologies Co. should be involved in upgrading…

Americans Will Inherit $764 Billion This Year, Mostly Tax-Free

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NEW YORK (Capital Markets in Africa) – One way the rich get richer is through inheritance, and they’re barely paying taxes on it. Americans are projected to inherit $764 billion this year and will pay an average tax of just 2.1% on that income, New York University law professor Lily Batchelder estimates in a paper published Tuesday by the Brookings Institution. By contrast, the estimated tax on work and savings is 15.8%, more than seven times higher. Many higher-income…

FedEx’s Smith Promises 2020 Rebound Will Prove Him Right Again

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NEW YORK (Capital Markets in Africa) – FedEx Corp. founder Fred Smith, nearing the end of a legendary career, says he’s going to prove himself right one more time. Best known for disrupting the parcel delivery business by introducing overnight service, Smith is now getting disrupted by e-commerce and the rise of online shopping. He’s taking a pounding from Wall Street for FedEx’s disappointing performance, while analysts praise archrival United Parcel Service Inc. for reversing a…

Trump Lawyers Enter Final Day After Skirting Bolton Bombshell

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NEW YORK (Capital Markets in Africa) – President Donald Trump’s lawyers begin their final day of arguments Tuesday having only barely noted the bombshell revelation from former National Security Adviser John Bolton that threatens to upset White House plans for a quick end to the Senate impeachment trial. Trump’s defense team will wrap up their case on Tuesday, followed by hours of questions from senators. Then will come what promises to be a dramatic debate and a moment of reckoning…

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