Also in the news...
Trade and services regulations in Luxembourg
If you are a UK business providing services in Luxembourg, you will need to follow Luxembourg regulations about:
If you were living in Iceland before 1 January 2021
Information for British citizens moving to or living in Iceland, including guidance on residency, healthcare and driving.
UK sanctions guidance for Uzbek businesses
Information about UK sanctions and relevant local laws to support compliance of non-UK businesses operating in Uzbekistan.
Protecting Business Reputation When Entering Foreign Markets
Expanding into new international markets presents promising growth opportunities. However, such moves come with challenges, especially when it comes to maintaining and protecting a business’s brand reputation.
Facebook Versus Finance
Two Scandinavian banks this week revealed a drop in profits, less than a month after the Danish government proposed a bailout programme.
MILLY BERNICE explores the controversy.
Two Scandinavian banks this week revealed a drop in profits, less than a month after the Danish government proposed a bailout programme. According to Swedish reports, Swedbank's last quarter of 2008 was over 40% less profitable than 2007, whilst Handelsbanken took a drop of almost thirty percent in profits. A week earlier Nordea, which provides lending throughout Scandinavia, saw a reduction in profits of over 200 million Euros.
The losses come a month after the Danish government proposed funding a bailout for affected banks in the area. Though 75 billion kroner has been earmarked for the purpose, it is predicted that less than half of this money will be used. Calls from the Danish public to reduce taxes and halt the bailout have culminated in a 5000 member Facebook group comparing the bailout to throwing money out of the window.