So you think you want to go to Hong Kong or Singapore and pay very little tax? But do you also want to pay either 1.77 or 1.12 for a pint of milk? And 3.74 or 3.98 for a kilo of spaghetti? No? Then think again, because that's what you will pay in those Asian financial centres, according to Mercer's latest international cost of living report.
For anyone thinking of emigrating in search of low priced comestibles and luxury flats, we've reproduced the tables with the full data below (click to enlarge).
Source: Mercer (figures in GBP)
Also today, it's worth paying some attention to the hiring tribulations of the Old Lady.
Despite offering all sorts of flexible benefits, paying 82 people more than 100k and offering pension contributions equivalent to a third of salaries, the Bank is said to be losing staff.
According to The Times, it is also hiring and does not have enough experienced staff to cover its new oversight role. Unfortunately, it has also decided to freeze all pay for people earning more than 21k for two years.
Who holds Italian debt? (Business Insider)
European banks have total claims and potential exposures of €999bn to Italy, more than six times the €162bn euro exposure they have to Greece, according to Barclays Capital. European banks have €774bn of exposure to Spain and €534bn of exposure to Ireland. (Marginal Revolution)
100 most influential people in financial markets. (Financial News)
Michele Faissola, head of rates and commodities (and a woman! man) might replace Anshu Jain as head of Deutsche's corporate and investment bank. (Financial Times)
To rise to a top job without the benefit of a private or Oxbridge education requires a disproportionate amount of ambition and competitiveness. (Stumblingandmumbling)
The maximum wage hypothesis. (NakedCapitalism)
At least you don't work for Cisco. (Bloomberg)