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Latest Articles: Business/Finance
Surprise! Some NY rich may face 164% estate tax
Post Date: 2014-04-08 15:05:00 by Jethro Tull
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f you're a New York multimillionaire, you now have another incentive to stay alive. A change this month in New York's estate tax, which was billed as tax relief for the wealthy, contains a hidden wrinkle that could leave some multimillionaires with a much bigger surprise tax upon their death. Certain estates could even wind up with a tax rate of 164 percent on portions of their estates, according to one tax expert. The changes were intended to ease the tax bill for wealthy New Yorkers and prevent them from fleeing to lower-tax states. A report from the Tax Foundation found that New York had the highest tax burden in the country as a percentage of state income. It found that New ...
Will Russia switch to ruble trading for oil and gas?
Post Date: 2014-04-05 22:27:46 by Tatarewicz
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The possibility of switching to using rubles for exports is being considered by the Russian government, according to one federal official. He says that it would be logical to take steps in this direction, irrespective of the fact whether there is a crisis in relations with the West or not. “This topic is being discussed, but we have not prepared any specific documents yet,” the press service of the Ministry of Economic Development and Trade informed news daily RBC. The head of Russian state-owned bank VTB, Andrei Kostin, has suggested that export companies, especially state-owned ones, should be the first to switch to using rubles in their settlements, justifying this by the ...
US allows Boeing to sell plane parts to Iran.
Post Date: 2014-04-04 23:40:14 by Tatarewicz
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- The United States has issued a license allowing Boeing to do business with Iran for the first time since the US embargo of 1979, a company spokesman told AFP Friday. Related Stories Boeing, GE say get U.S. license to sell spare parts to Iran Reuters Boeing says US OK's sale of plane parts to Iran Associated Press World powers and Iran start nuclear talks amid Crimea tensions Reuters Iran oil exports will be in line with sanctions target: U.S. Reuters Iran, six powers start expert-level nuclear talks in Vienna Reuters The license covers a "limited period of time" and allows Boeing only "to provide them spare parts that are for safety purposes." Boeing will still ...
“Time to buy Russia!” - Jim Rogers
Post Date: 2014-04-04 08:23:47 by Ada
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At time when foreign investors are fleeing the Russian stock market, an investing guru advises to buy Russian stocks. Jim Rogers believes that companies listed on the Moscow Exchange are undervalued. That’s why he is buying their stocks. “Russia’s stock market right now is one of the cheapest in the world, and probably one of the most hated,” said investor and commodities guru Jim Rogers, chairman of Rogers Holdings, told Reuters. “This is the time to buy Russia.” There is an old investing adage that advises “to buy when the blood is flowing on the streets”, meaning that the moments of generalized chaos offer the best opportunities to find ...
Gas price for Ukraine to rise to $485 – Gazprom head
Post Date: 2014-04-04 06:32:00 by Tatarewicz
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Gazprom CEO Aleksey Miller has announced Ukraine will no longer receive the $100 discount it enjoyed under the Kharkov Agreement, and will pay $485 per thousand cubic meters starting from April. The statement came after Miller met with the head of Ukraine’s state gas company Naftogaz, Andrey Kobolev in Moscow. Naftogaz is responsible for the majority of Ukraine’s unpaid gas bills. The price rise follows a cancellation of the Black Sea hosting deal. On Wednesday President Vladimir Putin signed a Federal law ending Russia’s commitment to the Kharkov Agreement, as the Black Sea port of Sevastopol is now under jurisdiction of the Russian Federation. Under the April 30 2010 ...
Bubbleberg News LP: Why We Are Plagued With Drivel Masquerading As Financial Reporting
Post Date: 2014-04-01 10:43:23 by Ada
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One of the evils of massive over-financialization is that it enables Wall Street to scalp vast “rents” from the Main Street economy. These zero sum extractions not only bloat the paper wealth of the 1% but also fund a parasitic bubble finance infrastructure that would largely not exist in a world of free market finance and honest money. The infrastructure of bubble finance can be likened to the illegal drug cartels. In that dystopic world, the immense revenue “surplus” from the 1000-fold elevation of drug prices owing to government enforced scarcity finances a giant but uneconomic apparatus of sourcing, transportation, wholesaling, distribution, corruption, coercion, ...
Russia bypassing $US
Post Date: 2014-03-31 20:11:55 by Tatarewicz
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Putin Flushes the US Dollar: Russia’s Gold Ruble Payments System Delinked from Dollar? A New Financial System independent from Wall Street & city begins to take shape concretely in Russia? By Umberto Pascali Global Research, March 30, 2014 Russia “forced” by the sanctions to create a system independent from the Dollar. Russia announces that it will sell (and buy) his products and commodities – including oil – in rubles; not anymore in dollars Putin has been preparing this move — the creation of a payment system in rubles completely independent and protected from the Dollar and the killer speculations of the big Western financial institutions — ...
A new 'silk road' linking Germany and China
Post Date: 2014-03-31 04:56:29 by Tatarewicz
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One of the world's longest railways -- a "modern-day silk road" -- covers some 11,000 kilometres (7,000 miles) en route from the Chinesee megacity of Chongqing to Duisburg, a key commercial hub in western Germany. It's an industrial marvel lauded by both nations as AFP's Estelle Peard discovered. On Saturday, as part of his landmark visit to Germany, Chinese President Xi Jinping visited the last stop on the "Yuxinou" rail line, an industrial feat that promises to revolutionise transport between Europe and Asia. Duisburg is a steel-making town of around half a million on the confluence of the Rhine and Ruhr rivers that boasts the world's biggest ...
China, Germany eye RMB hub in Frankfurt
Post Date: 2014-03-29 06:09:04 by Tatarewicz
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BERLIN, March 28 (Xinhua) -- China and Germany on Friday signed a memorandum of understating (MoU) on establishing an RMB clearing and settlement mechanism in Frankfurt, moving the German city closer to becoming an offshore RMB center. The document was inked here by China's central bank, or the People's Bank of China, and its German counterpart, the Deutsche Bundesbank, in the presence of visiting Chinese President Xi Jinping and German Chancellor Angela Merkel. The German side "welcomes RMB to play a bigger role in the international financial and monetary systems," says a joint statement issued after talks between Xi and Merkel. The two sides welcome the signing of ...
Connecticut becomes first state to pass $10.10 minimum wage
Post Date: 2014-03-28 04:50:53 by Tatarewicz
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MILFORD, Connecticut (Reuters) - Connecticut Governor Dannel Malloy on Thursday signed into law a measure that will phase in the highest minimum wage of any U.S. state, in line with a push by Democrats nationwide to raise the entry-level wage. The bill, which was approved by state legislators a day earlier, will raise the state's minimum hourly rate to $10.10, a figure that matches what U.S. President Barack Obama has asked Congress to consider imposing nationally. Malloy signed the legislation on Thursday evening in the same New Britain diner where he appeared earlier this month with Obama and three other New England governors: Deval Patrick of Massachusetts, Peter Shumlin of ...
Renminbi(RMB), or China's yuan, enjoy a record-high activity
Post Date: 2014-03-27 00:25:55 by Tatarewicz
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LONDON, March 26 (Xinhua) -- February saw the Renminbi(RMB), or China's yuan, enjoy a record-high activity share on the global foreign exchange markets with 1.42 percent of business, data revealed Wednesday by SWIFT RMB tracker revealed. RMB's 1.42 percent share was up from 1.39 percent in the same month a year earlier. However, in the global rankings of currency RMB fell back behind the Swiss Franc by 0.03 percentage points to become the eighth most-used global currency. London retained its position as the number 1 global location for offshore dealing in RMB, excluding Hong Kong, according to the tracker figures. Asian RMB hubs had improved their position in the global ...
Internationalization of China's RMB could transform global capital markets: RBA Deputy Governor
Post Date: 2014-03-26 02:04:25 by Tatarewicz
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SYDNEY, March 26 (Xinhua) -- The internationalization of China' s currency, the renminbi (RMB), and the changes that accompany it, could eventually transform global capital markets, Deputy Governor of the Reserve Bank of Australia (RBA) Philip Lowe said on Wednesday. Speaking at the Centre for International Finance and Regulation (CIFR) conference on the internationalization of the RMB in Sydney on Wednesday, Lowe said China's transition to a more flexible exchange rate will be gradual but it also has the "potential to create a seismic shift in the international monetary and financial landscape". Lowe said China clearly had an interest in getting the process right, ...
5 Things You Should Know About Q&M Dental Group
Post Date: 2014-03-24 08:28:59 by Tatarewicz
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Q&MWhile many of us recoil in horror at the thought of having our mouths poked and prodded by a dentist, Q&M Dental Group (SGX: QC7) shareholders may have a happier view of the dental profession. Bukit Batok Founded in Bukit Batok in 1996, by Dr Ng Chin Siau and his wife Foo Siew Juan, the competitively-priced services at Dr Ng’s Q&M Dental Surgery soon proved a popular choice for nearby residents. With more work than he could handle, Dr Ng decided he needed some help. Fellow dentist Dr Ng Jet Wei joined the practice in 1998, and in 1999, the two dentists, together with Dr Chong Kai Guan opened four more clinics. Expansion continued – by 2000, they were ...
The Big Mogambo Financial Supernova (TBMFS)
Post Date: 2014-03-24 07:29:38 by Ada
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The kids are suddenly big experts on “income inequality” since it has become the issue du jour lately, and are loudly whining and wondering why I have money to spend while they do not, which they consider completely unfair. As usual, they were not impressed with a loving father (me) taking some of his precious time to kindly explain that, around HERE anyway, it’s because I went to school, got a job, spend less than I make, and save the rest by not indulging the random, selfish whims of a bunch of free-loading, lowlife, teenage morons. They were even LESS impressed when I told them that the national problem of inequality of income is because the evil Federal Reserve created ...
India ready to pay Iran in euros for oil
Post Date: 2014-03-24 03:47:07 by Tatarewicz
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PressTV... India is ready to pay Iran in euros rather than rupees for crude oil imports after an Iranian official recently said Tehran prefers euro payment, Petroleum and Natural Gas Ministry sources in New Delhi say. The unnamed sources said India will change the current practice of rupee payment as soon as Iran files an official request to that effect, the Telegraph newspaper reported on Monday. On March 16, Mohsen Qamsari, the director for international affairs at the National Iranian Oil Company (NIOC), said Tehran prefers to receive payments for crude oil exports to India in euros rather than in rupees following the easing of sanctions against Iran as a result of the Geneva nuclear ...
What I Learned in Negotiating with Jobs
Post Date: 2014-03-23 16:31:22 by Lod
4 Comments
Great read - enjoy.
Gazprom Seeks Access to Crimean Oil and Gas Deposits
Post Date: 2014-03-19 00:01:19 by Tatarewicz
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Related News Ukraine Boosts Security of Natural Gas Pipelines Russia’s Gazprom Warns Ukraine of New Gas War Ukraine Says It Paid for January Gas Supplies From Russia Gazprom Says Ukraine Gas Debt Set to Hit $2Bln Gazprom to Cancel Gas Discount for Ukraine MOSCOW, March 18 (RIA Novosti) – Russian energy giant Gazprom is seeking access to oil and gas deposits in the territorial waters of Crimea, which became Russian territory on Tuesday. “Gazprom was the first to file its request,” Rustam Temirgaliyev, the region’s first deputy prime minister, said in an interview with RIA Novosti. The Crimean parliament, which refused to recognize the new Ukrainian government ...
Alibaba to kick off IPO in US
Post Date: 2014-03-16 23:12:27 by Tatarewicz
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HANGZHOU, March 16 (Xinhua) -- Chinese e-commerce giant Alibaba has decided to begin its initial public offering (IPO) process in the United States, the company announced Sunday. The move is to "make us a more global company and enhance the company's transparency, as well as allow the company to continue to pursue our long-term vision and ideals," Alibaba said in a brief statement. The statement did not mention the company's decision on the investment banks or stock exchange for the IPO. However, media reports on Friday said Alibaba had decided on New York after ruling out Hong Kong and London for the IPO, while Morgan Stanley and Credit Suisse were said to be working ...
Ryanair sacks staffer for eating sandwich
Post Date: 2014-03-11 03:02:34 by Tatarewicz
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A Spanish flight attendant has lost his case against the Irish low-cost airline after he was sacked by his employers for eating a baguette meant for passengers. Back in 2010, Ryanair officially investigated claims of misconduct by one of its flight attendants, Madrid-based Juan Francisco Montes Montesinos, after he reportedly ate a ham, cheese and tomato baguette, valued at €5.50 ($7.50), which was on the passenger menu. Company regulations require staff to first inform and then pay for any food meant for passengers before actually eating it, Spanish daily 20 minutos reported on Tuesday. Montes did neither, prompting his dismissal early in the following year. The disgruntled ...
China to pilot five private banks
Post Date: 2014-03-11 00:56:24 by Tatarewicz
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BEIJING, March 11 (Xinhua) -- China will set up five private banks on a trial basis before the practice is extended to more places, the chief of the country's banking regulator said on Tuesday. The first batch of five banks will be in Tianjin, Shanghai, Zhejiang Province and Guangdong Province, according to Shang Fulin, head of the China Banking Regulatory Commission (CBRC), at a press conference on the sidelines of the annual parliamentary session. Ten private companies, including Internet firms Alibaba and Tencent, have been selected to take part in the preparation work for setting up the banks, said Shang. He said their eligibility as shareholders will be subject to further ...
Man tagged as bitcoin creator denies ties with digital currency
Post Date: 2014-03-07 07:38:59 by Tatarewicz
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Journalists, bloggers and others have sought for years to identify the mysterious computer coder who wrote a paper on bitcoin’s framework and created the software that serves as the digital currency’s backbone. The Associated Press Allen J. Schaben / Los Angeles Times LOS ANGELES — The man Newsweek claims is the founder of bitcoin denied he had anything to do with the digital currency. In a two-hour interview, Dorian Prentice Satoshi Nakamoto, 64, said he had never heard of bitcoin until his son told him he had been contacted by a Newsweek reporter three weeks ago. Nakamoto acknowledged that many details in Newsweek’s report are correct, including that he once ...
Albertsons, Safeway grocery chains to merge
Post Date: 2014-03-07 02:45:50 by scrapper2
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Albertsons and Safeway, the nation's second-largest grocery chain, said Thursday that they will merge under the control of the company that owns Boise-based Albertsons. Safeway's current CEO, Robert Edwards, will become the CEO of the new combined chain. Bob Miller, Albertsons' CEO, will become executive chairman. Albertsons' parent, AB Acquisition LLC, a unit of an investor group led by New York private-equity firm Cerberus Capital Management, will acquire all outstanding shares of Safeway, the companies said in a joint news release after stock markets closed for the day. The $9 billion deal is expected to close in the fourth quarter of 2014. If the merger fails, the ...
Ukraine as the USDollar Waterloo
Post Date: 2014-03-06 20:09:45 by christine
2 Comments
The desperation of the Anglo-American leadership, guided by the steady corrupt banker hands, has never been more acutely high, nor obvious in full view. The entire Ukraine situation is a travesty. It includes Langley agents killing police and street demonstrators from rooftops, the confirmation coming from the Estonian Embassy (translation of scripts). It includes thefts of official Ukrainian Govt funds, again sent to the Swiss hill sanctuary. It includes sanctions delivered by a US Paper Tiger, sure to cause horrific backlash. It involves the last gasp attempt to obstruct the Gazprom energy pipelines, which will inevitably corner the European market in monopoly. It involves subterfuge with ...
Bitcoin bank folds after hacker robbery
Post Date: 2014-03-05 23:43:10 by Tatarewicz
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Bitcoin storage site Flexcoin announced Tuesday that it has closed after hackers robbed it of some $600,000 worth of digital currency. “On March 2nd 2014 Flexcoin was attacked and robbed of all coins in the hot wallet. The attacker made off with 896 BTC,” the bitcoin bank said on its website. “As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately.” The stolen 896 bitcoins come to a loss of around US$600,000, depending on current bitcoin trading value. Bitcoin is not backed by deposit insurance since it is a cryptocurrency. Flexcoin kept bitcoins offline, or in “cold storage,” to ...
Obama plans 3.9-trillion-USD budget for 2015
Post Date: 2014-03-05 01:55:30 by Tatarewicz
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WASHINGTON, March 4 (Xinhua) -- U.S. President Barack Obama has planned 3.9 trillion U.S. dollars of budget for the 2015 fiscal year, which will be used to fund infrastructure upgrading, education and other social programs, according to the budget plan posted on the website of the White House on Tuesday. Obama has budgeted a deficit of 564 billion U.S. dollars for 2015, or 3.1 percent of the estimated Gross Domestic Product (GDP). Deficit in the next decade will stay between 400 billion dollars and 500 billion dollars. The deficit to GDP ratio will lower to 1. 6 percent by 2024. In the new budget outlined for the fiscal year starting Oct. 1, Obama aims to invest in infrastructure, job ...
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