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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Tax havens are entrenching poverty in developing countries | Richard Miller

Category : Business

Poorer nations lose three times more money to havens a year than they get in aid. The G8 has the chance to change this

The Guardian has brought yet more news about the widespread use of tax havens by some of the world’s largest multinationals operating in developing countries. From ActionAid’s own investigations we know that these tax havens can all too often provide vehicles for tax avoidance that hits the world’s poorest hardest.

In the case of just one FTSE100 multinational we recently investigated – Associated British Foods, maker of Ryvita and Silver Spoon sugar – we found the company had used tax haven conduit companies to legally avoid enough Zambian tax to put 48,000 children in school. Zambia is a nation where almost half of children fail to complete their education.

Tax haven secrecy can also be used to deflect scrutiny from a range of unaccountable transactions in developing nations. Kofi Annan’s Africa Progress Panel last week highlighted mining deals involving two FTSE100 multinationals, carried out through companies in the British Virgin Islands, Panama and Gibraltar, which the panel claims have deprived the Democratic Republic of Congo of an estimated $1.36bn – almost twice the country’s education and health budgets combined.

From near-deserted Caribbean islands to major financial centres, tax havens offer a harbour for wealth and profits siphoned from around the world. Tax havens provide the legal machinery for tax avoiders, and protection for illegal tax evaders, denying developing economies the public revenues needed for hospitals, schools, clean water and functioning roads. The figures are staggering. According to the Organisation of Economic Co-operation and Development, developing countries lose three times more money to tax havens each year than they receive in aid.

The statistics cannot, of course, show the tax impact of each tax haven company. Some may indeed have real business, and not simply be avoiding taxes in places where real business is done. But this is precisely the point: corporate reporting fails to show the transactions and tax bills of multinationals’ operations in many of these jurisdictions. And these same jurisdictions often deny this information to under-resourced tax authorities in the world’s poorest countries too.

Tax haven structures may be nearly universal, but they are not a fact of nature in modern business. Financial services firm Hargreaves Lansdown and mining company Fresnillo, for instance, have no tax haven subsidiaries at all, despite operating in sectors that are no strangers to “offshore”. Others are making efforts at least to disclose their tax structures around the world: when ActionAid put questions about their tax haven companies to all FTSE100 companies, 15 responded with significant extra details.

Yet overall there is little incentive not to place profits and assets in tax haven companies, or to disclose these profits and assets, unless governments themselves end the secrecy and abusive tax regimes that tax havens offer. The countries represented at June’s G8 have a unique combination of economic and political weight, responsibility and jurisdiction over the problem. The UK alone is responsible for one in five of the world’s tax havens, more than any other single country in the world. Yet while the UK and other wealthy countries have recently begun to push their tax havens to disclose the financial assets that their taxpayers hold offshore, these deals as yet leave developing countries out in the cold.

The G8 can and must commit to ending the anonymous ownership of tax haven companies and trusts, and making tax havens disclose the information that tax authorities around the world desperately need. To fix the biggest part of this problem the information it generates must be available for all countries – including the poorest – from day one.

When the UK government convenes the leaders of the world’s wealthiest countries at the G8 summit this June, it has an opportunity, an interest and a duty to do something extraordinary: to tackle one of the biggest hidden obstacles in the fight against poverty by putting an end to tax havens. With David Cameron, George Osborne, François Hollande, Angela Merkel, other world leaders and ordinary taxpayers calling for change, this is a once in a lifetime opportunity. None of us – from the richest to the poorest countries – can afford for the G8 to miss it.

Dell to Icahn: Show us the money

Category : Business, Stocks

Dell’s special committee told Carl Icahn that it needs more information about his offer to buy the company, including where he intends to get the debt financing.

Original post: Dell to Icahn: Show us the money

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Buyer Group International, Inc. (BYRG: OTC Pink Current) | Management to Release Primer: Management, Discussion, and Analysis in Upcoming Financials Release

Category : Stocks, World News

BYRG (“Company”) to update Management Discussion, and Analysis with Release of Primer: Management, Discussion, and Analysis in Upcoming Financial Update

BYRG management will issue a Primer for MD&A of BYRG in the following days as updates come out.

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Norsk Hydro ASA (NHYDY: OTCQX International Premier) | Norsk Hydro : Ex dividend NOK 0.75 today

Category : Stocks

The shares in Norsk Hydro ASA will be traded ex dividend of NOK 0.75 as from
today, May 10,

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Allianz SE (AZSEY: OTCQX International Premier) | Allianz to redeem its 2 billion US-dollar 8.375% undated subordinated callable bonds

Category : Stocks

Allianz SE announced today that it intends to call for redemption effective June 15, 2013 (the “Redemption Date”) all of its 2,000,000,000 US-dollar 8.375% undated subordinated callable bonds (CUSIP: 018805200; ISIN: US0188052007) (the “Bonds”).

The Bonds will be redeemed in accordance with their terms and conditions. The redemption price for the Bonds will be the principal amount plus any interest accrued to and including the Redemption Date and will be paid in cash on Monday, June 17, 2013.

These assessments are, as always, subject to the disclaimer provided below.

Forward-looking statements
The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group’s core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events) (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

No duty to update
The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.

Originally posted here: Allianz SE (AZSEY: OTCQX International Premier) | Allianz to redeem its 2 billion US-dollar 8.375% undated subordinated callable bonds

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Water Technologies International,Inc. (WTII: OTC Pink Current) | Market Advisors, Inc. Issues Report on Water Technologies International, Inc.

Category : Stocks, World News

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Market Advisors, Inc. Issues Report on Water Technologies International, Inc.

PR Newswire

LINCOLN, Nebraska, May 7, 2013

LINCOLN, Nebraska, May 7, 2013 /PRNewswire/ –

Water Technologies International, Inc. (OTC: WTII) announces the release of a research report that has been issued by

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Great Western Minerals Group Ltd. (GWMGF: OTCQX International) | Great Western Minerals Group Retains Kei Advisors LLC to Manage Investor Relations Program

Category : World News

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Great Western Minerals Group Retains Kei Advisors LLC to Manage Investor Relations Program

PR Newswire

SASKATOON, May 3, 2013

SASKATOON, May 3, 2013 /PRNewswire/ – Great Western Minerals Group Ltd. (“GWMG”
or the “Company”) (TSXV: GWG) (OTCQX: GWMGF) announced that it has
entered into an investor relations agreement with Kei Advisors LLC
(“Kei”) of Buffalo, New York (the “Agreement”).

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Baroma Inc. (BRMA: OTC Pink Current) | BAROMA DTC

Category : Stocks

Miami, FL, May 1st –
Baroma, Inc. (OTCMarket: BRMA) today announced that DTC approved electronic trading for the Company’s stock. Baroma’s stock is traded on the Over The Counter Exchange and OTC Markets under the stock symbol, BRMA. The Company owns and operates BAROMA Healthcare International, LLC d/b/a Baroma Health Partners; the first Medicare approved Accountable Care Organization (ACO) based in Miami-Dade County, FL participating in the Medicare Shared Savings Program. The Company’s three-year agreement with The Center for Medicare and Medicaid Services (CMS) allows for the ACO to receive up to half of the savings generated by quality improvement through coordinated care and cost saving initiatives for the Medicare-Fee-For-Services population in South Florida.
Scott J. Backer, CEO of Baroma, commented, “We are very pleased to have been approved by DTC to begin electronic trading. We are expecting excellent financial results for 2013 and are growing our provider network month after month. We have partnered with leaders in health IT, care delivery and regulatory reporting throughout the country and expect continued growth as we expand to other high value markets nation-wide. Baroma has an excellent outlook for our first year’s performance under the MSSP, with our projected population shared savings with Medicare will be approximately $36 million of which we expect, from the trend of January and February reports, revenues approximately at $18 million EBITDA without calculating our expected month to month growth. A PE (price earnings ratio) of fifteen would put our share price in the range of $.90.”
Since January Baroma has more than doubled its network of participating physicians which is estimated beneficiaries of over 10,000 Medicare fee-for-service beneficiaries. In Miami-Dade County, historically one of the nation’s most costly county for Medicare, generating a savings for this population is less difficult than in other service areas. “Targeting waste, fraud and abuse are one of the many strategies we have implemented since our contract took effect in January.” Says Baroma COO Marisela Rodriguez.
Established as an effort to assist at-risk health networks and health plans in minimizing the medical expense, Baroma has developed their ACO delivery model based on the best practices successfully implemented in managed care.
“Our goal is to use tools such as newly developed IT resources in accordance with more developed and coordinated practices implemented in the managed care world to drive innovation in healthcare delivery. Preventative medicine is at the forefront of our initiative to reach the three principle goals of the MSSP: better care for individuals, better health for populations, and slower growth in expenditures for Medicare.” Said Baroma CIO Ricardo Matos.
For more information, please view:
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking statements”, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as “estimate,”
Baroma, Inc. 18495 South Dixie Highway | Unit 269 | Miami, FL 33157 | (888) 315-4490
“anticipate,” “believe,” “plan” or “expect” or similar statements are forward-looking statements. Risks and uncertainties for the company include, but are not limited to, the risks associated with mineral exploration and funding as well as the risks shown in the company’s most recent annual and quarterly reports on Form 10-K and Form 10-Q respectively, and from time-to-time in other publicly available information regarding the company. Other risks include risks associated with the regulatory approval process, competitive companies, future capital requirements and the company’s ability and level of support for its exploration and development activities. There can be no assurance that the company’s exploration efforts will succeed and the company will ultimately achieve commercial success. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set for herein and should also refer to the risk factors disclosed in the company’s periodic reports filed from time-to-time with the United States Securities and Exchange Commission. This news release has been prepared by management of the company who takes full responsibility for its contents. None of FINRA nor the SEC has approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell of the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Investor Contact: | (888) 315-4490

Read the original here: Baroma Inc. (BRMA: OTC Pink Current) | BAROMA DTC

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Energtek, Inc. (EGTK: OTC Link) | Attorney Letter with Respect to Current Information

Category : Stocks, World News

Thu, May 02, 2013 05:19 – Energtek, Inc. (EGTK: OTC Link) released their Attorney Letter with Respect to Current Information. To read the complete report, please visit:

Read more here: Energtek, Inc. (EGTK: OTC Link) | Attorney Letter with Respect to Current Information

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British territories sign tax deal

Category : Business, World News

Bermuda and other British overseas territories with financial centres have signed agreements on sharing tax information, the Treasury announces.

See more here: British territories sign tax deal

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