Mainstream News

Illinois’ credit rating downgraded; state drops to worst in the nation

"A warning came Saturday morning from state treasurer Dan Rutherford (R) IL State Treasurer. The Standard and Poor’s downgrade from A to A-minus puts Illinois last on the list– and means a higher cost to borrow money. On Wednesday, the state will issue $500 million in new bonds to pay for roads and other transportation projects. Rutherford says the credit downgrade will cost taxpayers an additional $95 million in interest, when compared to a perfect triple-A bond rating enjoyed by other 11 states including neighboring Indiana, Iowa and Missouri." Continue reading →

Continue ReadingIllinois’ credit rating downgraded; state drops to worst in the nation

Italian tax dodgers uncovered by the Redditometro

"The Italian authorities have been accused of resorting to police state-style tactics with the introduction of a new weapon to hunt down the nation's many tax dodgers. The new procedure makes it possible to scrutinise any family's spending pattern, and compare this with what it says it earns. But some commentators have been outraged by this month's launch of what is called the Redditometro - the Income Meter. It has been described as unacceptably intrusive, the sort of thing that East Germany's secret police might have dreamt up." Continue reading →

Continue ReadingItalian tax dodgers uncovered by the Redditometro

France Proposes an Internet Tax

"France, seeking fresh ways to raise funds and frustrated that American technology companies that dominate its digital economy are largely beyond the reach of French fiscal authorities, has proposed a new levy: an Internet tax on the collection of personal data. The idea surfaced Friday in a report commissioned by President François Hollande, which described various measures his government was taking to address what the French see as tax avoidance by Internet companies like Google, Amazon and Facebook." Continue reading →

Continue ReadingFrance Proposes an Internet Tax

France ‘totally bankrupt’, says labour minister Michel Sapin

"'There is a state but it is a totally bankrupt state,' Mr Sapin said. 'That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.' The comments came as President Hollande attempts to improve the image of the French economy after pledging to reduce the country’s deficit by cutting spending by €60bn (£51.5bn) over the next five years and increasing taxes by €20bn. Data from Banque de France showed earlier this month that a flight of capital has already left the country amid concerns that France’s Socialist leader intends to soak the rich and businesses." Continue reading →

Continue ReadingFrance ‘totally bankrupt’, says labour minister Michel Sapin

Honduras ‘no longer functioning’ after plunging over fiscal cliff

"Street surveillance cameras in one of the world's most dangerous cities were turned off last week because Honduras' government hasn't paid millions of dollars it owes. The operator that runs them is now threatening to suspend police radio service as well. Teachers have been demonstrating almost every day because they haven't been paid in six months, while doctors complain about the shortage of essential medicines, gauze, needles and latex gloves. Honduras is also grappling with $5 billion in foreign debt, a figure equivalent to last year's entire government budget." Continue reading →

Continue ReadingHonduras ‘no longer functioning’ after plunging over fiscal cliff

U.S. ranked 32nd in press freedom index

"Reporters Without Borders on Wednesday launched a new indicator measuring global press freedom by aggregating the scores of its annual index, from perennial table-topping Finland to worst offenders Eritrea. 'In view of the emergence of new technologies and the interdependence of governments and peoples, the freedom to produce and circulate news and information needs to be evaluated at the planetary as well as national level,' the Paris-based watchdog said. Northern European countries topped the rankings of its separate Press Freedom Index, while the small, reclusive African nation of Eritrea came last." Continue reading →

Continue ReadingU.S. ranked 32nd in press freedom index

A Swedish Police Taskforce Raided a Bunch of Teenagers Playing Call of Duty

"The ten-man team raided the apartment to find a group of teenagers in the midst of murder and destruction, yes, but also enjoying just another friendly night in playing Call of Duty. After being forced outside by what must have essentially been a SWAT team, the boys were able to explain that the gunshots were entirely virtual and the cries for help merely came when the character of one of the boys (let's call him Sven) was shot several times and left lying on the floor. Sven's alter ego had, presumably, been put out of its misery by the time the police arrived. Eventually, the police admitted the mistake and left without filing any charges." Continue reading →

Continue ReadingA Swedish Police Taskforce Raided a Bunch of Teenagers Playing Call of Duty

French special forces ‘to protect’ Niger uranium mines

"France is to deploy special forces to protect uranium mines belonging to French nuclear energy giant Areva in Niger, according to a report in a news magazine this week. The move comes amid a heightened security threat following a French-led offensive to drive Islamist separatists out of northern Mali, and the deadly hostage crisis at the In Amenas gas facility in Algeria, which militants said was in revenge for the French military intervention. The decision to deploy troops, however, was taken earlier in January, after a botched operation to rescue a captured French intelligence agent Denis Allex in southern Somalia, according to Le Point." Continue reading →

Continue ReadingFrench special forces ‘to protect’ Niger uranium mines

‘Checkout Fees’ Take Effect, Allowing Retailers To Add 4-Percent Surcharge

"Retailers in 40 U.S. states can now charge up to 4 percent extra when consumers pay for goods and services with a credit card. These so-called 'checkout fees' went into effect Jan. 27, and do not apply to debit card payments. The fees are illegal in California, New York, Texas and seven other states. In 2005, a group of merchants claimed that MasterCard, Visa, and nine other companies including JP Morgan Chase & Co conspired to fix the fees that stores pay to accept credit card purchases. As part of the settlement, the merchants are allowed to charge customers a fee equal to the cost of accepting cards, typically 1.5 percent to 3 percent of the purchase price." Continue reading →

Continue Reading‘Checkout Fees’ Take Effect, Allowing Retailers To Add 4-Percent Surcharge

What Are Stores Collecting When They Swipe Your ID?

"CBS13 told you last month how more stores are tracking returns hoping to weed out fraud which the industry claims is a $17 billion problem annually. We got answers learning from the Department of Motor Vehicles everything on the front of your driver’s license is accessible through the magnetic strip or bar code including your name, address, birth date, hair and color and even your height and weight. Legally stores can collect the information and keep it for as long as they want if it’s for 'fraud prevention'." Continue reading →

Continue ReadingWhat Are Stores Collecting When They Swipe Your ID?