European Commission Criticizes Proposed Internet Use Tax


Tens of thousands of Hungarians gathered in central Budapest this Sunday to protest a proposed tax on Internet use. Hungarian protesters hurled old computer equipment and held up their mobile phones n opposition to the tariff and plans of Prime Minister Viktor Orban.

European Commission Criticizes Proposed Internet Use Tax

The protestors accused Orban of attempting to restrict freedom of information in the country. The internet use tax, which is included in Fidesz’s 2015 budget proposal, would charge telecom companies 150 forints (about 61 cents) per gigabyte of data. It is believed that the potential revenue from the tax at 100 billion forints ($414 million) can help the country reduce its budget deficit to within the European Union standard of 3 percent of GDP.

Hungary’s move was criticized by the European Union. “Any government that tries a tax like this is going to get it wrong. It is going to add up to a very big mess and that is why Neelie Kroes and the Commission want to make it clear before taxes like this come in that it’s the wrong direction to be heading in,” Ryan Heath, spokesman for Ms. Kroes, the outgoing vice president of the European Commission and the commissioner in charge of the EU’s digital agenda, said. “Neelie Kroes wants to make it clear we shouldn’t allow this to fade away,” Mr. Heath added. Ms. Kroes continues to support protests against the plan, he said.  “If Hungary becomes a precedent in this instance, it can become a problem in many other member states and become a problem for Europe’s wider economic growth,” Heath said.

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JPMorgan To Be Penalized Over Madoff Accounts


Regulators plan to fault JPMorgan Chase & Co that served as the main bank of Bernie Madoff for two decades. This decision was made as the regulator found JPMorgan Chase & Co guilty of failing to conduct adequate due diligence and report suspicious activity.

JPMorgan To Be Penalized Over Madoff Accounts

A cease-and-desist order against JPMorgan is likely to be issued by the Office of the Comptroller of the Currency. This will require the largest bank in the United States to put an end to the alleged failures in its anti-money laundering practices. According to sources, this order is expected to come later this year though a fine is not expected. The Office of the Comptroller of the Currency can take harsher action against the bank, including financial penalties if it is not satisfied with JPMorgan’s response.

Madoff was arrested in December 2008 and pleaded guilty in 2009 to running a massive, decades-long Ponzi scheme. He is presently is serving a 150-year prison sentence.

Irving Picard, a trustee for Madoff’s victims, has accused JPMorgan of ignoring warning signs that the business of Madoff was a fraud and has attempted to sue the bank. Picard is in the process of appealing a ruling whereby a judge has tossed out all but $425 million of Picard’s $19.9 billion lawsuit against JPMorgan.

There was no evidence showing that anyone at the bank knew of the elaborate scheme of Madoff, JPMorgan has said. The bank did file a suspicious activity report in London two months before Madoff was arrested and described his investment performance as “too good to be true,” according to Picard’s lawsuit.

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Stay Profitable With Innovia Solutions


If you want to earn a significant amount of money while remaining completely independent, Innovia solutions would be an excellent option for you. This is not just because these customized solutions are designed specifically for the Community Management sector, but also because this company has a proven track record of assisting and empowering hundreds of entrepreneurs to succeed in today’s cutthroat marketplace.

Stay Profitable With Innovia Solutions

Innovia Community Management Cooperative also helps you identify and explore rewarding opportunities so that you can dramatically enhance return on investment and improve profitability. Furthermore, it helps you grow your business exponentially through marketing, purchasing power, and the power to offer more to your clients. Innovia also facilitate superior price negotiations so that you spend less time having concerns about business expenses and concentrate on making your communities better.

One of the biggest benefits of Innovia solutions is that they can be customized according to the specific requirements of your business. Not only this, you can access social media management services offered by Innovia CMC to post interesting and unique content to social media profiles in quick time and without hassles. This trusted partner of hundreds of profit-oriented enterprises also helps you stay aware of the latest and trending topics to keep social media profiles relevant, engaging, and fresh to grow and retain audience over a continuing period of time. Not only this, Innovia offers you an exclusive online portal to avail great savings at more than 400 recognized retailers so that you can access over 1500 deals at any point of time.

Innovia Community Management Cooperative, as a division of CCA Global Partners, leverages scale comparable to big national companies without you compromising on your independence. This surely helps you to move forward with never-before optimism and confidence to create and maintain high standards of community management.

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Benefits Of Commercial Cleaning Services


Over the last few years, there has been a surge in people opting for commercial cleaning services instead of depending solely on a janitor. This holds good especially for big establishments that need to create and maintain a distinctive appearance.

Benefits Of Commercial Cleaning Services

If you are looking for these professional and customizable services, this piece of information would surely be of interest to you.

Hiring a professional office cleaning company could easily be one of the best decisions made by an entrepreneur for his office. This is simply because employees don’t need to break away from their routine and specialized tasks to do janitorial work. Secondly, a clean and hygienic office ensures health and well being of employees and visitors to the office. Moreover, there is nothing like a clean office environment for employees and all that can even increase productivity levels. Not only this, a clean office surely suggests a good first impression to visitors besides adding to the hospitality quotients.

The best thing is that you can easily avail professional 24-hour cleaning support by searching for a provider of commercial cleaning services in Denver. JAN-PRO of Colorado is one name that can you trust without any second thought. With more than 20 years of experience, this company offering affordable commercial cleaning services has a team of experienced and knowledgeable personnel that have the complete expertise of completing a wide range of cleaning tasks.

JAN-PRO serves the communities of Broomfield, Northglenn, Thornton, Westminster, Federal Heights, Commerce, Denver, Fort Collins, Loveland, Greeley, Longmont, Boulder, Broomfield, Erie, Lafayette, and Brighton. This commercial cleaning company also serves the communities of Glendale, Englewood, Centennial, Highland Ranch, Arvada, Wheat Ridge, Aurora, Edgewater, Lakewood, Columbine, and Castle Rock, Colorado. Not only this, this reputed commercial cleaning franchise in Denver provides a variety of cleaning services for offices, flooring, construction, and windows.

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Burger King Announces Deal To Buy Tim Hortons


Burger King Worldwide Inc. has announced it has reached a deal to buy Tim Hortons Inc. The acquisition was unanimously approved by the boards of directors of both companies, which would put the headquarters of the world’s third-largest fast food company in Canada.

Burger King announces deal to buy Tim Hortons

im Hortons shareholders are to receive $65.50 in cash and 0.8025 common shares of the new company per Tim Hortons share as stipulated by terms of the $12.5-billion deal. In pre-market trading on Tuesday morning, Tim Hortons shares jumped more than 10% after surging to a new all-time high on Monday after the companies confirmed they were in takeover talks. According to the release announcing the agreement, the combined company would have US$23-billion in sales and more than 18,000 restaurants in 100 countries.

Burger King CEO Daniel Schwartz will become CEO of the new company. Tim Hortons President and CEO Marc Caira’s proposed new position is vice-chairman and director. Alex Behring, who is currently Burger King’s executive chairman and managing partner at 3G Capital, Would become executive chairman and director and 3G would own about 51% of the new company.

“Canada has moved to a highly competitive tax regime,” Canadian Finance Minister Joe Oliver told reporters after a meeting with technology executives. “We believe this has been a constructive move that is designed to retain capital in this country, which results in more business expansion and more employment.”

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U.S. Bonds Slip On Jobless Data


On July 24, U.S. debt prices fell while global stock markets inched higher following stronger-than-expected U.S. earnings from companies and unexpectedly low U.S. weekly jobless claims.

U.S. Bonds Slip On Jobless Data

For the second session in a row, the benchmark S&P 500 index closed at a record high after being buoyed by data showing initial jobless claims in the U.S. dropped to their lowest in more than eight years.

“The lower-than-expected U.S. initial jobless claims have made people focus on the improving labor market situation,” said Ian Lyngen, senior government bond strategist, at CRT Capital in Stamford, Connecticut.

However, data showing sales of new U.S. single-family homes fell by the biggest amount since July 2013 to offset the positive news. The stock of homebuilder D.R. Horton that also reported results, sank 11.5 percent to $21.94, while the PHLX Housing Index was down 2.7 percent. On the other hand, S&P 500 got a big boost from Facebook, whose market value shot up to $190 billion. The stock rose 5.2 percent to $74.98 and hit an intraday record high of $76.74.

The Dow Jones industrial average fell 2.83 points or 0.02 percent, to 17,083.8, while the S&P 500 gained 0.97 points or 0.05 percent, to 1,987.98, a record closing high. The Nasdaq Composite dropped 1.59 points or 0.04 percent, to 4,472.11. European stocks ended up 0.5 percent while MSCI’s All-World Index was up 0.1 percent. Ten-year U.S. Treasuries were down 13/32 in price to yield 2.510 percent.

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