Sunday, January 18, 2009

SPB News for Sunday.


Bailed-Out Firms Have Tax Havens, GAO Finds Most of America's largest publicly traded corporations -- including several that are receiving billions of dollars from U.S. taxpayers to finance their recovery -- have set up offshore operations that could help them avoid paying U.S. taxes on their profits, a government study released yesterday found. American International Group, Bank of America, Citigroup and Morgan Stanley are among the companies that are getting bailed out by U.S. taxpayers while having subsidiaries in locations where they can avoid paying U.S. taxes, according to the Government Accountability Office. Of the 100 largest public companies, 83 do business in tax-haven hotspots like the Cayman Islands, Bermuda and the British Virgin Islands, where they can move their income into tax-free accounts.
Brown seeks foreign help to rescue banks Gordon Brown has confirmed that Britain's stricken banks will require a second bailout, calling for "international action" to rescue them from collapse. The Prime Minister, who revealed he was "angry" at the banking system, said a new global solution would be required to solve the ongoing crisis, on top of the £500bn taxpayer-funded plan announced last October.

US journalists call Livni a 'terrorist' Foreign Minister Tzipi Livni was surprised Friday night by three journalists who shot accusations at her over the fighting in the Gaza Strip. The incident took place at the Washington Press Club, after Livni signed a cooperation agreement with US Secretary of State [war criminal] Condoleezza Rice aimed at preventing the smuggling of weapons from Iran to Hamas. One of the journalists called Livni a "terrorist" and complained that Israel was preventing reporters from covering the war in Gaza. "What, are you like Zimbabwe?" another woman told the foreign minister.

Iran court convicts 4 over alleged US-backed plot Iran's official news agency reports that four Iranians have been convicted and sentenced to prison in an alleged US-backed plot to topple the government. IRNA says Tehran's Revolutionary Court sentenced the four to jail on charges of trying to overthrow the Islamic government with the alleged support of the U.S. State Department and the CIA.

Pentagon cleared of propaganda violations An internal investigation has cleared the Pentagon of violating a ban on domestic propaganda by using retired military officers to comment positively about the war in Iraq in the US media. In a report posted on its website, the Pentagon's inspector general said "we found the evidence insufficient to conclude that RMA (retired military analysts) outreach activities were improper".
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