Economy

Chinese interests play increasing role in Australian political donations

A Chinese government-backed propaganda unit and a swag of companies that stand to gain from the China Australia Free Trade Agreement have made more than half a million dollars of political donations in Victoria… Source: Chinese interests play increasing role in Australian political donations Read More »

WTF is TTIP? The EU-US trade deal explained

Proponents of the Transatlantic Trade and Investment Partnership say it will boost economies – Ireland’s in particular. So why are people so suspicious of it? It was June 2013 and Ireland was nearing the end of its six-month presidency of the European Union. At a meeting in Luxembourg, the then minister for trade Richard Bruton hailed an historic agreement. After months of behind-the-scenes negotiations, led mostly by… Source: WTF is TTIP? The EU-US trade deal explained Read More »

Unaoil fixer paid bribes under nose of FBI

A middleman who received millions of dollars from Unaoil — a Monaco-based firm now at the center of an international bribery scandal — in return for improperly influencing officials in U.S.-occupied Iraq was also operating businesses in America. He did all this under the nose of the U.S. Department of Justice and the FBI — for years, without getting caught… Source: Unaoil fixer paid bribes under nose of FBI Read More »

No Quick Fix for Russian Economy

This year got off to a bad start. Oil prices fell to below $30 per barrel and a budget deficit of at least 5 percent seemed inevitable. But now Russia’s political elite is breathing a sigh of relief. Oil is up to more than $40 per barrel and experts are predicting that prices are more likely to continue climbing than to collapse, as they did in winter. Of course, oil price trends cannot be forecast with any certainty. But financial officials recently stated that if oil ... Read More »

Elizabeth Warren Takes On the ‘Gig Economy’

It’s one of the first serious attempts by Democrats to deal with the new part-time model for work. The Democratic Party hasn’t quite figured out how to take on the rapid rise of the “gig economy.” Hillary Clinton said last summer that companies like Uber and AirBnB created “exciting opportunities,” but also… Source: Elizabeth Warren Takes On the ‘Gig Economy’ | The Nation Read More »

Russia Remains Determined To Stop Israel-Turkey Pipeline Deal

It has been six years since the Israeli raid on the Mavi Marmara ship that was aiming to reach the Gaza coast in May 2010. In the wake of the Mavi Marmara crisis, Turkey and Israel relations rapidly worsened; both countries withdrew their ambassadors and cut diplomatic ties. Turkey’s downing of a Russian jet along the Syrian border on November 24, 2015 has forced Ankara to adjust its foreign policy… Source: Russia Remains Determined To Stop Israel-Turkey Pipeline Deal | ... Read More »

Iceland Recovering Fastest in Europe After Jailing Bankers Instead of Bailing them Out

IrGo 1a

Iceland is on track to become the first European country that suffered in the financial meltdown to “surpass its pre-crisis peak of economic output”—essentially proving to the U.S. that bailing out “too big to fail” banks wasn’t the way to go!… Source: EWAO Iceland Recovering Fastest in Europe After Jailing Bankers Instead of Bailing them Out Read More »

How the Coalition has failed on three key economic promises

Better growth, a smaller deficit and higher wages have failed to materialise, giving the lie to the Liberals’ claim to be superior managers.. Just under three years ago, Tony Abbott launched the Liberal’s 2013 election campaign. The Coalition duly swept to victory, creating a surge of optimism about the economy partly on the back of the promises made during the campaign… Source: How the Coalition has failed on three key economic promises | Stephen Koukoulas | Opinion | The Guardian Read More »

Plan to cut or scrap inheritance tax for thousands

Children inheriting family home would be exempt on first €500,000 of estate value.. Tax changes promised in the Government programme for partnership will sharply cut or eliminate completely inheritance tax for thousands of people in the coming years. Under the changes, once they are implemented, children inheriting the family… Source: Plan to cut or scrap inheritance tax for thousands Read More »

Why penalty rates are just like CEO bonuses

Company leaders defend their huge salaries by saying bonuses incentivise CEOs to perform better. Doesn’t this same principle apply all the way down to the shop assistant and their Sunday penalty rate? Source: Why penalty rates are just like CEO bonuses – The Drum (Australian Broadcasting Corporation) Read More »

Trump and Taxes

Paul Krugman 5e good photo LLLLLLLL

This seems to be the week for Trump tax mysteries. One mystery is why Donald Trump, unlike every other major party nominee in modern times, is refusing to release his tax returns. The other is why, having decided that he needs experts to clean up his ludicrous tax-cut proposals, he chose to call on the services of the gang that couldn’t think straight… Source: Trump and Taxes – The New York Times Read More »

Is oil heading for a ‘hard fall’ in the next month?

Two years of supply excess have apparently ended with a spate of supply outages. Oil price surges amid supply ‘deficit’ claims – but will the rally last? The oil price is rising again following claims from one of the most bearish forecasters in the market that supply has “flipped” into deficit in recent weeks… Source: Is oil heading for a ‘hard fall’ in the next month? | The Week UK Read More »

Greek tragedy may return to centre stage as debt matures

Major crisis unlikely, but EU may lose precious time as it frets over Brexit: Analysts While the markets have been worried about oil prices and China over the past few months, Greece could once again rear its ugly head in the months ahead. The small European country could soon run out of money, resulting in another bout of brinkmanship with the creditors triggering more market volatility… Source: Greek tragedy may return to centre stage as debt matures, Economy News & ... Read More »

How East Timor’s democracy is making it an outcast

Vonn 8h

Five years since submitting its formal membership application to the Association of Southeast Asian Nations (ASEAN), the small Pacific country of East Timor is more determined than ever to join. It should be simple. According to ASEAN’s 1967 Bangkok Declaration, the main condition for joining the economic and political alliance is that the applicant country must be geographically located in Southeast Asia. But the 2007 ASEAN Charter introduced new… Source: How East Timor’s democracy is making it an outcast – ... Read More »

The choice for Europe: rescue Greece or create a failed state

It’s no longer about austerity. This is a battle for the soul of Europe.. Between now and mid-June the European political elite must give its answer to an existential question. Will it honour the deal it made to rescue Greece last July; or will it push the radical left government into default –effectively creating a failed state in Europe?… Source: The choice for Europe: rescue Greece or create a failed state | Paul Mason | Opinion | The Guardian Read More »

Ireland On Course to Develop Hydrocarbons, Employment

Ireland’s hydrocarbon sector is attracting an array of oil and gas industry giants in its 2015 Atlantic Margin Oil and Gas Exploration Licensing Round, with eight companies receiving new acreage in the southern Porcupine Basin as part of the first phase awards. The second, and final, phase of awards is scheduled for mid-May and will see a range of new acreage awarded to a variety of oil and gas exploration and production firms. Source: Ireland On Course to Develop Hydrocarbons, ... Read More »