Despite The Challenges Starbucks Is Developing In Italy, Bank BNP Paribas In Frankfurt Have Been Raided
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The estates have a special culture of drinking coffee, which is why this country was a challenge for a popular chain store - Starbucks.
In this article:
- BNP Paribas in Frankfurt have been raided
- Despite the challenges, Starbucks has persisted in Italy
- UBS about economy
- IMF for Haiti
BNP Paribas in Frankfurt have been raided
The offices of French bank BNP Paribas in Frankfurt have been raided by German police. The bank is under investigation for a multi-billion dollar tax fraud known as "cum-ex".
The cum-ex trading system that flourished after the 2008 credit crunch relied on rapidly trading company shares around dividend days, diluting share ownership and allowing multiple parties to claim rebates.
The scandal has rocked German political and financial circles and lawmakers say it has cost taxpayers billions of euros.
German police raid offices of French bank BNP Paribas in Frankfurt - Handelsblatt https://t.co/T94qPeKCPm pic.twitter.com/71qALQ5CQr
— Reuters Business (@ReutersBiz) January 25, 2023
Despite the challenges, Starbucks has persisted in Italy
Italians take their coffee culture very seriously - it is full of traditions, customs and rituals.
When Starbucks announced formal plans to open in Milan, some local residents disagreed. However, in 2018, Starbucks opened its first store in Italy, a 25,000-square-foot roaster in Milan.
To ensure a smooth transition into uncharted territory, the company partnered with an Italian brand manager and other local companies.
Despite the challenges, Starbucks has overcome all odds in Italy and is even planning expansion.
Can Starbucks find success in Italy — the country that invented the espresso? Watch the video to find out. https://t.co/f27hd0tF4f pic.twitter.com/m0wyWQ4ac9
— CNBC (@CNBC) January 25, 2023
Read next: The Department Of Justice's Lawsuit Against Google | FXMAG.COM
UBS about economy
Inflation remained high in 2022, interest rates rose, growth expectations fell, and stock and bond markets suffered.
Next year, inflation will be a major topic for economists and economies around the world. Many economies believe the worst is behind them and inflation has peaked.
As we enter 2023, high inflation and rising interest rates, along with heightened earnings expectations and geopolitical risk, are shaping our investment themes.
Has inflation peaked yet? If not now, then when?
— UBS (@UBS) January 24, 2023
Find out more about an “inflation inflection” and other inflections in our UBS Year Ahead 2023. https://t.co/OaCWkxYGN2#shareUBS pic.twitter.com/siPWRRLapw
IMF for Haiti
The management of the International Monetary Fund (IMF) approved the first review of Haiti's Personnel Monitoring Program (SMP). The SMP will help the government restore macroeconomic stability and lower inflation.
Despite the tougher macroeconomic environment and downside risks, recent data and progress on structural reforms suggest that the authorities are making significant efforts to mitigate Haiti's many challenges.
The Haitian authorities adopted a budget for the financial year 2023 which is in line with the objectives agreed under the SMP and in the context of the medium-term budget. Ensure that a substantial budget allocation is used to protect the most vulnerable and implement public finance management systems to monitor the use of public funds. In addition,
IMF staff will continue to work closely with the authorities to support the implementation of their agenda and help them build public support.
IMF Management has approved the first review of Haiti’s Staff Monitored Program to help ðŸ‡ðŸ‡¹ restore macroeconomic stability and lower inflation, given the burden of inflation on the poor. https://t.co/YI3995OEry pic.twitter.com/QZ917QcceX
— IMF (@IMFNews) January 24, 2023
