Exchange to fail. Its not a Merry Christmas for apple. Analysts have lowered iphone x projections for the First Quarter citing weak demand. Say 10 million fewer units will be sold in the First Quarter of 2018 compared to the current quarter. Worn cs shipments falling by 5 million. They blame the high price and lack of innovation. Lets give you a feel of whats going on here. And a few other elements are playing out. Australia and hong kong are closed. We did see quite a bit of pressure on selective chinese companies. The nikkei was lower as well. Turkish stocks having an astounding rally. S p futures unchanged. U. S. 10 year, 2. 48. Across in the commodities space, some important moves for wti. Had u. S. Rigs not adding anymore. Is at 1000 children 78 an ounce. Its not a Dollar Strength story. A little bit of anxiety coming from the catalog election. We have a few other elements as well. Dollar yen up. Currently that level is still a sixweek low. Policy getting back into focus for inves
Different deferral provision allowed companies to stockpile an estimated three point one trillion years dollars offshore and some of them for example apple have already said that they they would be paying those taxes directly in the United States you just said that it is a statistical irrelevance as far as the Cayman Islands. Are concerned but i wonder if this shift in the u. S. Taxation regime may alter the course of globalization in any way surely arlen should be feeling the pinch or do you think. Truly island should although there are other reasons why arlen has been successful particularly you know and efficient and low cost labor force. But the you know bear in mind the three point one trillion number you mentioned came about because u. S. Law wanted us corporations to be able to defer tax offshore because it. Operated what was known as a capital export neutrality system and if it hadnt allowed for the deferral us corporations would under the previous law have been taxed twice on
What was going on. But it is i agree with you very hard to ricks blame in terms of the the political positions of the two u. S. Parties historically well mr travers i think we would agree that as a flame mary Many American political positions are extremely hard to explain from a rational point of view but we have to take a very short break here lets go back to the discussion the few moments. Despite its turbulent history the soviet union dominated school. However this was about the lives of those from. You know. When the children nibble of this. That. Newborn bill there once and for being bottle fed me just remembered you three brothers described the rules for the ordinary yorkers like irish stew just to be reserved for your you were the first son of your limpid team of nine hundred fifty two when she did seeds of isis concentration camp prisoners and from slime soldiers sort of still think maybe it isnt that good to go from here with corruption because you know much good to know that
May find there is no further use for those came and subsidiaries of the major u. S. Corporates. And so we may be involved in having one hundred or two hundred companies. No no no longer used in the Cayman Islands and possibly liquidated but bear in mind thats out of a total of around one hundred thousand so its a statistically irrelevant. Percentage well its been asked summated that this different deferral provision allowed companies to stockpile an estimated three point one trillion years dollars offshore and some of them for example apple have already said that they they would be paying those taxes directly in the United States you just said that it is a statistical irrelevance as far as the Cayman Islands. Are concerned but i wonder if this shift in the u. S. Taxation regime may alter. The the course of globalization in any way surely arlan should be feeling the pinch or do you think its a trick or treater truly are and should although there are other reasons why allah has been succ
Jurisdiction where they make the profit and therefore that there isnt as you rightly say towards globalization because that brings us corporations Global Trading profits more into line with the system that is operated for say european corporations which are also taxed on a territoriality basis well miss a traverse you just said that this deferred taxation regime was intended and in fact it was promoted by the American Government but at the same time the previous American Administration was very critical about it and i think thats the most ironic thing in all of that for me that these kind of changes were implemented not by the Obama Administration which one would think ideologically would have been most predisposed to it but by the tump administrating in your opinion was it ultimately an issue of political will corporate might have. Perhaps Something Else i i have to say i agree with you im completely confused about why a Republican Administration made a change that was essentially par