Business

Shaking up the Federation through taxation

This week’s announcement by the Prime Minister about a possible change in income taxation might have come as a surprise to many people. As it was pointed out by many economists, journalists and the opposition leader, the current income taxation structure, where the Federal Government collects all income tax and doles it out to the States has been in place since 1942… Source: Shaking up the Federation through taxation | Constitution Education Fund Australia Read More »

The Chinese want to buy more American companies — and we should let them

Instead of being a threat to U.S. security, it’s the best way to reduce tensions… Zachary Karabell is the head of global strategy at Envestnet, a financial services firm, and the author of “The Leading Indicators: A Short History of the Numbers That Rule Our World.” China was poised to make its largest-ever investment in the United States this past week, after the Chinese insurance group Angbang topped Marriott in a… Source: The Chinese want to buy more American companies ... Read More »

We ignore the debt at our peril

This article appears in the March 28, 2016 issue of National Review. Writing in this space five years ago, I made the controversial prediction that the rating of U.S. government debt would soon be downgraded. In August of that year, Standard & Poor’s duly obliged. I revisited the topic in November 2011 and argued that the U.S. would probably not regain its stain-free AAA rating anytime soon: The history of downgrades is that they endure. At this writing, the U.S. ... Read More »

Banks to feel slowing housing market

Banks’ vast home loan businesses are tipped to face less buoyant conditions this year as mortgage growth slows and the number of customers falling behind on home loans edges up from record lows. Credit ratings agency Moody’s on Thursday forecast mortgage arrears would rise from current low levels over 2016 because of the slowing housing market and a sub-par economy and the… Source: Banks to feel slowing housing market Read More »

Ensuring the E.U.’s Natural Gas Supply

European demand for natural gas is likely to increase, but the future of the supply remains uncertain. Whether Russia or the European Union take the lead, whoever builds the best pipeline will secure access to the market for decades to come… Source: Ensuring the E.U.’s Natural Gas Supply · Handelsblatt Global Edition Read More »

Global Price Decline Unlikely to Impact Trans-Adriatic Pipeline

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A planned pipeline that would link the gas fields of Azerbaijan to eager European consumers is unlikely to be impacted by the broader, sustained decline in global energy prices, according to a project manager from Greece. Speaking at an energy conference in Athens, Rikard Scoufias – a local manager for the Trans Adriatic Pipeline- stated that the… Source: Global Price Decline Unlikely to Impact Trans-Adriatic Pipeline – Forbes Read More »

Brazil Finance minister disregards calls from Lula for tax breaks and more credit

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Brazilian Finance Minister Nelson Barbosa said on Tuesday it is not the time for more tax breaks, disagreeing publicly with former president Lula da Silva’s call for fiscal stimulus to revive a moribund economy. Lula, President Dilma Rousseff’s predecessor and political mentor, urged the government this week to give more tax… Source: Brazil Finance minister disregards calls from Lula for tax breaks and more credit — MercoPress Read More »

Holyrood 2016: Greens propose 60p tax rate for highest earners

THE Greens have set out plans to introduce a new top rate of income tax of 60p for Scotland’s highest earners. But the party pledged everyone earning £26,500 a year or more would get to keep more of their cash under its “progressive” income tax plans It would scrap the… Source: Holyrood 2016: Greens propose 60p tax rate for highest earners – The Scotsman Read More »

Is the Nine Dash Line a Super-Sized Exclusive Economic Zone?

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China opened up a new front for South China Sea conflict this week when one of its coast guard vessels collided with an Indonesian coast guard ship in the process of towing a captured Chinese vessel alleged to be engaged in illegal fishing. In a remarkably direct and frank statement, Indonesia’s Foreign Minister protested China’s… Source: Is the Nine Dash Line a Super-Sized Exclusive Economic Zone? – Lawfare Read More »

The end of capitalism has begun

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Without us noticing, we are entering the postcapitalist era. At the heart of further change to come is information technology, new ways of working and the sharing economy. The old ways will take a long while to disappear, but it’s time to be utopian.. The red flags and marching songs of Syriza during the Greek crisis, plus the expectation that the banks would be nationalised, revived briefly a 20th-century dream: the… Source: The end of capitalism has begun | Books ... Read More »

This Billionaire Governor Taxed the Rich and Increased the Minimum Wage — Now, His State’s Economy Is One of the Best in the Country

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The next time your right-wing family member or former high school classmate posts a status update or tweet about how taxing the rich or increasing workers’ wages kills jobs and makes businesses leave the state, I want you to send them this article. C. Robert Gibson  The Huffington Post When he took office in January of 2011, Minnesota governor Mark… This Billionaire Governor… Read More »

Russia bans all gambling and shuts casinos

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MOSCOW (Reuters) – Russia closed down its casinos overnight as gambling was banned nationwide, a move the industry says could throw a third of a million people out of work. Mikhail Antonov, Vladimir Bomko Reuters The July 1 ban shut gaming halls, from gaudy casinos crowned by extravagant neon structures to dingy dwellings containing a handful of slot machines. “I feel terrible. We just let 1,000 people go,” said Yuri Boyev, general director at Metelitsa, an upmarket casino where billionaires rolled ... Read More »