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Leaked documents show massive expansion of CIA budget

"The CIA has mushroomed into the largest US spy agency with a nearly $15 billion budget as it expands intelligence, cyber sabotage and overseas covert operations, secret leaked documents showed Thursday. It shows a dramatic resurgence of the Central Intelligence Agency, once thought to be on the decline after it acknowledged intelligence failures prior to the attacks of September 11, 2001 and the US-led invasion of Iraq in 2003. It now is the dominant colossus within the national intelligence community, expanding its workforce by more than 25 percent from a decade ago, to 21,575 this year." Continue reading →

Continue ReadingLeaked documents show massive expansion of CIA budget

Washington Post: U.S. $53 billion ‘Black budget’ details leaked by Snowden

"U.S. spy agencies have built an intelligence-gathering colossus since the attacks of Sept. 11, 2001, but remain unable to provide critical information to the president on a range of national security threats, according to the government’s top-secret budget. The $52.6 billion 'black budget' for fiscal 2013, obtained by The Washington Post from former intelligence contractor Edward Snowden, maps a bureaucratic and operational landscape that has never been subject to public scrutiny. The Post is withholding some information after consultation with U.S. officials who expressed concerns about the risk to intelligence sources and methods." Continue reading →

Continue ReadingWashington Post: U.S. $53 billion ‘Black budget’ details leaked by Snowden

NSA’s Prism Could Cost Global IT Service Market $180 Billion

"James Staten, a Forrester analyst who follows IT services, argued in a blog post Wednesday that financial losses could prove substantially higher when other market segments are considered. In calculating his higher estimate, Mr. Staten said that in addition to the $35 billion estimated by the ITIF, vendors of hosting and outsourcing services – which offer many of the same services as cloud companies, but use different processes and revenue models — could suffer an additional $100 billion in lost business. Moreover, non-U.S. cloud service providers could lose $35 billion worth of business from international customers, as awareness grows of the surveillance activities of other governments." Continue reading →

Continue ReadingNSA’s Prism Could Cost Global IT Service Market $180 Billion

Arrests in Vanuatu over dubious citizenship approvals

"Among those arrested are a former chairman of the Citizenship Commission and former MP, Jack Eric, and a former secretary of the Commission, Eloi Leye. Chief Inspector, George Toomey, has declined to give details but says those investigated include politicians, leaders and public servants. He says the suspects have been selling Vanuatu citizenship at a low price and ignored the law that requires ten years’ residence for a foreigner to become a citizen. Sources close to the citizenship office and police say it has became a tradition that a month before general elections, politicians collect applications forms from the citizenship office in order to receive sponsorship for their political campaign." Continue reading →

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Britain hits offshore gambling industry with 300 million pounds in taxes

"Under rules published on Friday, Britain will tax gambling according to where customers are based rather than where the online operator is registered, meaning that offshore operators pay the same 15% tax rate as domestic companies. The tax will be levied on companies' gross profit in the 2 billion pound remote-gambling market. 'It is unacceptable that gambling companies can avoid UK taxes by moving offshore, and the government is taking decisive action to ensure this can no longer happen,' Economic Secretary to the Treasury Sajid Javid said. 'These reforms will ensure that remote-gambling operators who have UK customers make a fair contribution to the public finances.'" Continue reading →

Continue ReadingBritain hits offshore gambling industry with 300 million pounds in taxes

Deloitte Rep. Warns China, Hong Kong To Sign FATCA Agreement

"'If the BVI and Caymans comply with the FATCA [Foreign Account Tax Compliance Act], this speaks volumes about the importance of this legislation to the world at large, let alone China and Hong Kong,' said Patrick Yip, deputy national mergers and acquisitions leader at Deloitte Touche Tohmatsu. 'China and Hong Kong financial firms that think by putting assets and income into BVI and Cayman companies they can avoid the reach of FATCA, they need to think again.' Although a US law, FATCA applies worldwide to every financial institution that receives payments from US sources. The mainland and Hong Kong should sign the agreements with the US to soothe their worries, he urged." Continue reading →

Continue ReadingDeloitte Rep. Warns China, Hong Kong To Sign FATCA Agreement

Swiss Offshore-Adviser’s Guilty Plea Marks a Shift in Tax Crackdown

"On Aug. 16, Edgar Paltzer, 57 years old, a Swiss lawyer formerly with the Zurich firm of Niederer, Kraft & Frey, pleaded guilty in federal court in New York to a single count of conspiracy. Experts say Mr. Paltzer is the most prominent Swiss adviser to confess and the first to do so publicly. More than 30 advisers have been indicted in connection with allegedly enabling U.S. taxpayers to hide money abroad. The case puts further pressure on U.S. taxpayers holding secret offshore accounts, because advisers might opt to protect themselves by turning in their clients. The case also expands government scrutiny to assets stored in bank vaults." Continue reading →

Continue ReadingSwiss Offshore-Adviser’s Guilty Plea Marks a Shift in Tax Crackdown

Fast food workers strike in 50 cities to demand wages of $15/hour, right to unionize

"The protest movement first began in New York last November with a strike by 200 workers but quickly spread across the country with strikes in July taking place in Chicago, Detroit, Flint, Kansas City, Milwaukee and St Louis. On Thursday organizers said the strike will hit some 1,000 major fast-food restaurants, including Burger King, Wendy’s, Taco Bell, Pizza Hut and KFC. 'Hold the burgers, hold the fries, make worker wages supersize!' read a tweet from Fight for 15, a workers organizing committee. 'Many of these workers have children and are trying to support a family,' said Mary Kay Henry of the Service Employees International Union, which is supporting the strike." Continue reading →

Continue ReadingFast food workers strike in 50 cities to demand wages of $15/hour, right to unionize

Detroit McDonald’s Forced To Close Amid Protest For Higher Wages

"A local McDonald’s restaurant was forced to close after its employees walked out and hundreds gathered outside to protest for higher wages. The restaurant on 8 Mile and Lahser roads along the Detroit/Southfield city line was just one location locally where fast food workers are participating in a nationwide 'walkout for better wages.' Over 200 protestors crowded the restaurant, carrying signs that read 'We are worth more. Strike for 15,' as in $15 an hour. The National Restaurant Association says the low wages reflect the fact that most fast-food workers tend to be younger and have little work experience." Continue reading →

Continue ReadingDetroit McDonald’s Forced To Close Amid Protest For Higher Wages

Fraternity investigated over Facebook pics of drugs and underage girls

"One of the largest university fraternities in the US was under a new police investigation on Tuesday after the suspension of a Florida chapter whose students set up a Facebook page allegedly advertising drugs and featuring photographs of topless or semi-nude underage girls. The Facebook page has since been taken down, but screen grabs leaked to the Miami Herald and Miami New Times last week show posts from students seeking cocaine or selling Adderall, a popular stimulant 'study drug' that enables users to stay awake. In addition, a caption below one photograph of a topless girl claims she was 17 when the picture was taken." Continue reading →

Continue ReadingFraternity investigated over Facebook pics of drugs and underage girls