May 9, 2016 nº 1,741 - Vol. 13
 

"If you can't convince them, confuse them."

Harry S Truman

Read Migalhas LatinoAmérica in Spanish every Tuesday and Thursday. Visit the website at www.migalhas.com/latinoamerica

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  • Top News

Global rules on tax heaven urged by economists

New global rules forcing companies to report taxable activities country-by-country publicly have been called for by a group of 300 prominent economists. In a letter to world leaders, the group urges the UK to "take a lead" in the push for more tax transparency. Poor countries are the biggest losers from tax havens, they claim. The letter comes ahead of the UK government's anti-corruption summit on Thursday, which politicians from 40 countries as well as World Bank and IMF representatives are expected to attend. The economists want public country-by-country reporting on taxable activities. "Governments must also put their own houses in order by ensuring that all the territories for which they are responsible make publicly available information about the real 'beneficial' owners of company and trusts," the economists write in the letter. The letter comes in the aftermath of the Panama Papers leak, which revealed how some rich people hide assets, sparking widespread condemnation that the authorities had failed to act.

Bribery still rife as 80 percent of executives admit seeing it

A survey of board-level executives found that 80 percent have seen bribery and corruption at their companies, a sign that anti-bribery laws aren’t having enough of an effect. In a survey of 500 executives from companies located in 12 countries, 59 percent of executives said their anti-bribery policies didn’t work and 87 percent believed the policies made it more difficult to build their business. Thirty-three percent of those asked said they didn’t do due diligence on anti-bribery measures when exploring mergers and acquisitions. Tackling bribery and corruption has become a political issue in the UK in recent years as lawmakers recognize the impact on the economy. Prime Minister David Cameron will host an Anti-Corruption Summit in London this week, bringing together leaders to discuss the global response. The issue came to the fore last month with the so-called "Panama Papers" scandal, where numerous documents leaked from Panamanian law firm Mossack Fonseca showed how some of the world’s wealthiest people channeled billions through offshore accounts, raising questions about tax evasion and money laundering.

  • Crumbs

1 - Facebook loses bid to toss out Illinois suit over face-tagging photos - click here.

2 - Berlin bans thousands of Airbnb properties - click here.

3 - Florida Supreme Court weighs unconstitutional death sentences - click here.

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  • MiMIC Journal

China's exports and imports slow more than expected

New fears about the health of China's economy have been sparked by figures showing that both exports and imports fell more than expected last month. Exports fell 1.8% compared with April last year, according to official figures, reversing a recovery in March. Imports sank by 10.9% compared with the same month in 2015.

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  • Brief News

Brazil senate committee backs Dilma Rousseff trial

A senate committee in Brazil has recommended that Rousseff should face an impeachment trial for breaking budget laws. The full senate will now vote next week on whether the trial should proceed. If as expected the vote goes against her, Rousseff will be instantly suspended for up to six months and replaced by the vice-president. She has denied any wrongdoing, and described the impeachment procedure as a coup attempt by political enemies.

Oracle and Google head back to court

A years-long copyright battle between Oracle and Google over Java is headed back to court Monday for a trial that could lead to billions of dollars in damages and alter the ground rules for modern software.

Greek PM defends pension and tax reform

Greek Prime Minister Alexis Tsipras has defended controversial new pension and tax reforms approved by parliament. The measures are needed to unlock further international bailout money, to be discussed at a meeting of Eurozone finance ministers on Monday. But they are deeply unpopular with Greek anti-austerity campaigners and trade unions. Tsipras said the changes would not affect the majority of pensioners and moved towards a "sustainable" system. He said that new higher contributions would safeguard the country's state pension provision.

Panama begins more flights of Cuban migrants to Mexico

Panama has agreed to transfer 3,800 Cubans hoping to reach the United States to a town in northern Mexico. The Cubans have been stranded in Panama for months, hoping to reach the US under a decades-old law which gives them privileged entry and a fast-track to residency. Officials in Panama said daily flights to Ciudad Juarez would begin on Monday. Panama had organized some flights in March but had insisted the operation would not be repeated. The migrants have been told they have to pay for the flights themselves.

US election: Trump in apparent reverse on taxes for rich

Presumptive US Republican nominee Donald Trump has said taxes for rich people may have to go up in an apparent reversal of his stated policy. "On my plan they're going down. But by the time it's negotiated, they'll go up," Trump said. He also apparently reversed his position on the minimum wage, telling the program: "I'm allowed to change." Trump is all but certain to become the official Republican candidate for the November presidential election. Several top Republicans have said they will not vote for him.

Israel's Netanyahu criticizes military official over Nazi claim

Israeli PM Benjamin Netanyahu has issued a stern public rebuke to the military deputy chief of staff. Maj-Gen Yair Golan said on the eve of Thursday's annual Holocaust Day that he detected trends in Israeli society suggestive of "nauseating processes" that occurred in 1930s Nazi Germany. Netanyahu said the comments were outrageous, cheapened the Holocaust and caused harm to Israel. "If there's something that frightens me about Holocaust remembrance it's the recognition of the nauseating processes that occurred in Europe in general, and particularly in Germany, back then - 70, 80 and 90 years ago - and finding signs of them here among us today in 2016," the deputy chief of staff said on Wednesday. "There is, after all, nothing easier and simpler than hating the foreigner... arousing fears and terrifying."

Panama Papers leaker speaks out, with a tantalizing offer for law enforcement

The anonymous source behind the leak of the Panama Papers has spoken for the first time, offering to help law authorities make prosecutions in return for immunity. In a 1,800-word statement, "John Doe" reveals he has never worked for a spy agency or a government. He starts the statement by citing "income equality" as a motive. "My viewpoint is entirely my own, as was my decision to share the documents with Suddeutsche Zeitung and the International Consortium of Investigative Journalists (ICIJ), not for any specific political purpose, but simply because I understood enough about their contents to realize the scale of the injustices they described." John Doe says that global judicial systems have "utterly failed to address the metastasizing tax havens spotting Earth's surface". He says: "I decided to expose Mossack Fonseca because I thought its founders, employees and clients should have to answer for their roles in these crimes, only some of which have come to light thus far. Panama-based Mossack Fonseca says it was hacked by servers based abroad and has filed a complaint with the Panamanian attorney general's office.

Turkish president refuses to change anti-terrorism law despite EU deal

Turkish President Recep Tayyip Erdogan announced Friday that he does not plan to change the country's anti-terrorism law, a requirement of a deal struck between Turkey and EU in March. Erdogan made the announcement after Turkish Prime Minister Ahmet Davutoglu, who was the key figure in achieving this deal, announced he would step down from his position. EU leaders agreed to a deal with Turkey to stem migrant flows, particularly of Syrian refugees, to Europe in return for financial and political incentive to Ankara. One of the benefits for Turkey was visa-free travel for Turks, but a change in the anti-terrorism law is one requirement that Turkey is required to complete before the EU makes that determination. Erdogan had previously told EU leaders that if all promises were not fulfilled, Turkey would not continue its responsibilities to receive migrants under the deal. Experts have expressed concern that the EU-Turkey deal may fall apart if Turkey does not agree to changes in the anti-terrorism law. (Click here)

Trump spared fraud trial over his university before election

Donald Trump won’t have to go on trial over allegations his namesake university cheated students at the same time he’s running for president of the US. A federal judge in San Diego on Friday ordered that the jury trial on behalf of thousands of former Trump University students will start 20 days after the Nov. 8 presidential election. The former students from in California, Florida and New York accuse Trump and his now-defunct, for-profit school of making empty promises, including that they would be taught Trump’s investing secrets, to get them pay as much as $35,000 for “elite” real-estate seminars. The allegations include violations of state consumer protection and elder abuse laws because many of the students were senior citizens. A lawyer for Trump argued at a March hearing that it would be difficult to pick an impartial jury in the middle of the real estate developer’s bid for the presidency and that a trial would be a “zoo.”

Oxford law students too 'fragile' to hear about violent crime

They are destined to be barristers and judges – but undergraduates studying law at Oxford are being told before lectures on cases involving violence or death that they can leave if they fear the content will be too ‘distressing’. The revelation marks the arrival from the US of ‘trigger warnings’ – the politically correct notion that students should be warned before they encounter material that could elicit a traumatic response. Lecturers have been asked by the director of undergraduate studies for law to ‘bear in mind’ using trigger warnings when they give lectures containing ‘potentially distressing’ content. Students at Oxford University are being told before lectures on cases involving violence or death that they can leave if they fear the content will be too ‘distressing’

  • Weekly Magazine Review

Time
What You Need to Know About Zika

Newsweek
London's Khan Says Labour Must Reach Past Core Voters

Business Week
Nestlé Wants to Sell You Both Sugary Snacks and Diabetes Pills

The Economist
American politics: Trump’s triumph

Der Spiegel
Die Falle

L'Espresso
Occhi chiusi su Gomorra

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