Wednesday, December 16, 2009

In a continuing crackdown on tax evasion, the Canada Revenue Agency (CRA) has alleged that brokers with a branch of RBC Dominion Securities, Canada’s largest brokerage company, helped clients set up accounts in the small European principality of Liechtenstein in order to avoid taxation on their wealth.

In affadavits submitted by the CRA, brokers with an RBC Dominion Securities office in Victoria, British Columbia, allegedly helped clients set up 16 offshore entities with a division of the LGT Group in Liechtenstein. While that is not a crime under Canadian law, auditors allege that the entities were used to help Canadians hide worldwide income. Thirteen individuals are either being audited or have made voluntary disclosures, admitting to tax evasion. The agency is presently investigating to see if there are any other individuals participating in this scheme. Regarding the inquiry, dubbed “Project Jade”, the CRA will only say that it was launched on information from a “confidential informant”.

RBC issued a written statement, saying “As a firm, we have never encouraged Canadians — not 25 years ago and not today — to set up entities in Liechtenstein, and we have never instructed our investment advisers to recommend that practice,” and “we comply with all CRA requirements. This means that we provide all our clients with the forms they need to meet their personal tax obligations, and also file reports with CRA that form the basis for reviews such as this.”

Three RBC employees are presently being investigated, with one remaining unidentified.

Friday, July 15, 2011

On Tuesday, the Euro fell to a new record low in relation to the Swiss Franc, and to multi-month lows against the U.S. Dollar and Japanese yen; all considered by investors to be safe currencies during times of economic turmoil.

The Wall Street Journal reported earlier that recent comments from the newly installed head of the International Monetary Fund, France’s Christine Lagarde, resulted in a sell-off of the Euro. At a roundtable discussion in Washington, Lagarde noted that the IMF had not yet reached discussion of terms and conditions of a second Greek bailout plan. In fact, a representative from the IMF is currently meeting with Eurozone policymakers to draft such a new proposal. The yield differential between Italian bonds and German bonds has spread to more than 300 basis points, something not seen in over a decade and evidence of investors’ concern.

Adding to the Euro’s woes is the upcoming release of the bank stress tests on Friday. The European Bankers Association said that they expect the data release to shed new light on the Eurozone’s banking situation. Representatives of several of the Eurozone’s governments, including Germany, have requested that the association consider releasing fewer specific details for fear that investor panic will ensue. The inadequacy of the capitalization rates has been an issue with the European Central Bank, whose president recently called upon Eurozone banks to make every effort to put their balance sheets in order.

For the time being at least, an unsubstantiated rumor reported by the Wall Street Journal states that the Eurozone’s central banks’ purchase of periphery debt has helped to quell the downward momentum of the Euro.

Monday, October 11, 2010

British journalist Andrew Marr has angered bloggers by suggesting they are “inadequate, pimpled and single.” Marr, who was formerly the BBC’s political editor, also said that citizen journalism is “spewings and rantings of very drunk people late at night”. He made the comments at the Cheltenham Literary Festival, saying: “A lot of bloggers seem to be socially inadequate, pimpled, single, slightly seedy, bald, cauliflower-nosed young men sitting in their mother’s basements and ranting. They are very angry people.”

Marr, who now hosts a flagship Sunday morning show, The Andrew Marr Show, on which he has recently interviewed British Prime Minister David Cameron and ousted BP executive Tony Hayward, added: “OK – the country is full of very angry people. Many of us are angry people at times. Some of us are angry and drunk”. His comments sparked outrage from bloggers, one of whom dismissed them as “stupid generalisations.” Another said that they were “sure that Andrew Marr did not mean all bloggers, but it is unfortunate that he did not seem to make much of a distinction in his statement.” Another blogger, writing on Twitter, said they supported Marr’s arguments. “Just read Andrew Marr’s comments on blogging,” they said. “I blog and I agree with most of what he says. I don’t read blogs for news, doubt I ever will.”

Other journalists also criticised the comments. Krishnan Guru-Murthy, a newscaster for Channel 4 News, said that it is “true that flicking through the comment section of some political blogs can easily make you think the blogosphere is populated by obnoxious trolls. But there are plenty of thoughtful, insightful people writing online too: you just need to find them. They might not be household names, or worthy of a slot on Radio 4, but to dismiss them out of hand seems wrong. As for bloggers being ‘inadequate, pimpled and single,’ that’s no way to talk about Jon Snow. He isn’t single.”

“We know our viewers want commentary and analysis alongside their news and our blogs help us give more of that,” Murthy said. “Obviously we can’t give opinion in the way bloggers who aren’t also public service broadcasters can, but we enjoy reading other people’s opinions and the best blogs are much more than rants, often breaking stories, too. And anyway, I like reading the occasional rant. But as a blogger if you offer up something to the wider world you should expect people to say what they think of it.”

Roy Greenslade, a professor of journalism at City University London, and former editor of the Daily Mirror, said: “Aside from the paradox of him indulging in a rant to complain about other ranters, it is the one-sidedness of his argument that is so striking. None of us who write blogs are unaware of vituperative contributions from people who like to remain anonymous … It’s the price we [bloggers] pay –a small price, in my view– for a communications system that allows for public participation.” Greenslade added that he thought Marr “seems to be damning the whole blogosphere when, as we all know, there are thousand upon thousand of bloggers who are making valuable public interest contributions on the net day by day, even hour by hour. Marr, to use an archaic but apposite idiom, simply can’t see the wood for the trees.”

Sunday, May 1, 2005

Cyprus, Latvia and Malta, three states which joined the European Union in May 2004, exactly one year ago, today became members of the Exchange Rate Mechanism II (ERM II), which pegs their currencies to the euro within a 15% margin above or below a central rate. While they are in ERM II, their currencies must not fluctuate to an extent that exceeds this 15% margin, and they must also keep inflation and budget deficits in check. For countries to adopt the euro, they must stay in the ERM II for at least two years. Therefore, the earliest date that Cyprus, Latvia and Malta can adopt the common currency is in May 2007.

Cyprus, Latvia and Malta have joined four other countries already in ERM II: Denmark, Estonia, Lithuania and Slovenia. Denmark joined ERM II in 1999 but has since not wished to adopt the euro, while Estonia, Lithuania and Slovenia joined the Exchange Rate Mechanism in June 2004, and are expected to adopt the euro by late 2006 or early 2007. Other new European Union member states are also expected to join ERM II soon.

Out of the European Union of 25 member states, 12 countries currently use the euro, which they adopted in January 1, 2002. The only EU members that remain either outside the Eurozone or ERM II are the Czech Republic, Hungary, Slovakia, Sweden, Poland and the United Kingdom.

Monday, November 5, 2007

In the 1980’s and the 1990’s there were multiple allegations of sexual abuse of children or non-consenting adults in the context of Satanic rituals that has come to be known as The Satanic Panic. In the United States, the Kern County child abuse cases, McMartin preschool trial and the West Memphis 3 cases garnered worldwide media coverage. One case took place in Jordan, Minnesota, when children made allegations of manufacturing child pornography, ritualistic animal sacrifice, coprophagia, urophagia and infanticide, at which point the Federal Bureau of Investigation was alerted. Twenty-four adults were arrested and charged with acts of sexual abuse, child pornography and other crimes related to satanic ritual abuse; only three went to trial with two acquittals and one conviction. Supreme Court Justice Scalia noted in a discussion of the case, “[t]here is no doubt that some sexual abuse took place in Jordan; but there is no reason to believe it was as widespread as charged,” and cited the repeated, coercive techniques used by the investigators as damaging to the investigation.

One of the most visible Satanic organizations—though one that was never a suspect or charged in any of the Satanic Panic cases—is the Church of Satan, founded by Anton LaVey. Members of the Church, such as Peter H. Gilmore, Peggy Nadramia, Boyd Rice, Adam Parfrey, Diabolos Rex, and musician King Diamond, were active in media appearances to refute allegations of criminal activity and the FBI would later issue an official report debunking the criminal conspiracy theories of this time.

Gilmore feels Satanists are often misunderstood or misrepresented. LaVey’s teachings are based on individualism, self-indulgence, and “eye for an eye” morality, with influence from Friedrich Nietzsche and Ayn Rand; while its rituals and magic draw heavily from occultists such as Aleister Crowley. They do not worship—nor believe in—the Devil or a Christian notion of Satan. The word “Satan” comes from the Hebrew word for “adversary” and originated from the Abrahamic faiths, being traditionally applied to an angel. Church of Satan adherents see themselves as truth-seekers, adversaries and skeptics of the religious world around them.

On a windy October day in Central Park, Wikinews reporter David Shankbone sat down with the High Priest of the Church, Peter H. Gilmore, who has led LaVey’s congregation of Satanists since his passing in 1997 (he became the High Priest in 2001). They discussed the beliefs of the Church, current events, LaVey’s children and how Satanism applies to life and the world.

Tuesday, January 24, 2006

January’s second Interview of the Month was with Danny O’Brien of the Electronic Frontier Foundation (EFF) on 23 January in IRC.

The EFF is coming off a series of high-profile successes in their campaigns to educate the public, press, and policy makers regarding online rights in a digital world, and defending those rights in the legislature and the courtroom. Their settlement with Sony/BMG, the amazingly confused MGM v Grokster decision by the Supreme Court of the United States, and the disturbing cases surrounding Diebold have earned the advocacy organization considerable attention.

When asked if the EFF would be interested in a live interview in IRC by Wikinews, the answer was a nearly immediate yes, but just a little after Ricardo Lobo. With two such interesting interview candidates agreeing so quickly, it was hard to say no to either so schedules were juggled to have both. By chance, the timing worked out to have the EFF interview the day before the U.S. Senate schedule hearings concerning the Broadcast flag rule of the FCC, a form of digital rights management which the recording and movie industries have been lobbying hard for – and the EFF has been lobbying hard to prevent.

Sunday, January 21, 2007

Ricky “The Hitman” Hatton regained the IBF light welterweight title belt he relinquished less than 12 months ago when he defeated Juan Urango in Las Vegas, Nevada tonight.

“The Hitman” won by unanimous decision, as the fight went to 12 rounds. Despite early match odds suggesting Hatton would dominate the fight, this was not the case. Each round was close, but most pundits and judges alike agreed that Urango only won 1 of the 12 rounds, with Hatton taking the other 11.

Despite the unfamiliar confines of Las Vegas, Hatton looked touched by the ringing of football fan-like chants, familiar in British boxing, that rang around the arena, as more than half of it was filled by traveling support from across the atlantic.

Many in the UK will hope Hatton has ended the “curse” that has seen names such as Frank Bruno, Naseem Hamed, Barry McGuigan and others fall short while headlining fights on “The Strip”.

From here, it is widely believed “The Hitman” will move on to fight Jose Luis Castillo in June, again likely in Vegas.