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Archive for the ‘Business/Finance/Taxes’ Category

Greenpeace: We’re Blocking Shell’s Icebreaker


Activists hang under the St Johns Bridge in Portland, Oregon, in an attempt to block the Shell-leased icebreaker MSV Fennica. (photo: Steve Dipaola/Greenpeace)
Activists hang under the St Johns Bridge in Portland, Oregon, in an attempt to block the Shell-leased icebreaker MSV Fennica. (photo: Steve Dipaola/Greenpeace)

 

Greenpeace Press Release | Reader Supported News | July 29, 2015

 

ALSO SEE: Activists Hang From Bridge in Portland to Block Shell’s Arctic Vessel

 

Greenpeace climbers plan to spend days hanging from the bridge in Portland, Oregon in an attempt to hinder Shell’s Arctic oil drilling plans

 

*We’re blocking Shell’s ship! *

*Take Action*

*Ask President Obama to deny Shell from drilling in the Arctic.*

*take action today*

s I write this, I’m preparing to suspend myself from a bridge, blocking Shell’s icebreaker from leaving Portland, OR for the Arctic. And if you got this email, that means I made it.

Shell is almost ready to drill in the Arctic but its icebreaker containing a vital piece of drilling equipment hit something, causing a gaping hole. So it had to come down here to Portland to get patched up. We are now what stands in between Shell and an Arctic oil catastrophe.  

While I’m holding up the ship, you can take action by asking President Obama to cancel Shell’s drilling plans and protect the Arctic!

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Citibank Ordered to Pay $700 Million Over Illegal Credit Card Practices


Pedestrians walk in front of a Citibank branch in New York. (photo: CNBC)
Pedestrians walk in front of a Citibank branch in New York. (photo: CNBC)

 

Richa Naidu | Reuters | Reader Supported News | July 21, 2015

itigroup Inc’s (C.N) consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

The bank will also pay civil penalties of $35 million each to the consumer finance watchdog and the Office of the Comptroller of the Currency.

The $770 million total payout is about 1 percent of Citi’s estimated revenue for 2015, according to Thomson Reuters StarMine.

“Citi is fully reserved to pay costs associated with the agreements,” the bank said in a statement on Tuesday.

The CFPB said that about 7 million customer accounts were affected by Citibank’s “deceptive marketing” practices, which included misrepresenting costs and fees and charging customers for services they did not receive.

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ExxonMobil Gave Millions to Climate-Denying Lawmakers Despite Pledge


ExxonMobil drilling rig. (photo: Michelle Christenson/AP)
ExxonMobil drilling rig. (photo: Michelle Christenson/AP)

 

Suzanne Goldenberg | Guardian UK | Reader Supported News | July 15, 2015

 

Under pressure from shareholders, company promised eight years ago to stop funding climate denial – but financial and tax records tell a different story

 

xxonMobil gave more than $2.3m to members of Congress and a corporate lobbying group that deny climate change and block efforts to fight climate change – eight years after pledging to stop its funding of climate denial, the Guardian has learned.

Climate denial – from Republicans in Congress and lobby groups operating at the state level – is seen as a major obstacle to US and global efforts to fight climate change, closing off the possibility of federal and state regulations cutting greenhouse gas emissions and the ability to plan for a future of sea-level rise and extreme weather.

Exxon channeled about $30m to researchers and activist groups promoting disinformation about global warming over the years, according to a tally kept by the campaign group Greenpeace. But the oil company pledged to stop such funding in 2007, in response to pressure from shareholder activists.

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‘Homosexual behavior leads to death': Ford engineer sues for religious right to harass gay co-workers


Angry businessman (Shutterstock)

 

 

David Edwards | Raw Story | July 14, 2015

A Christian engineer who was fired for violating Ford Motor Company’s policy against harassment based on sexual orientation is suing the company, claiming his religious rights were violated.

In a federal lawsuit obtained by The Huffington Post, Thomas Banks explains that he was fired after posting a comment in response to an internal Ford intranet article that celebrated the 20th anniversary of the LGBT workers rights group GLOBE.

“For this the Ford Motor should be thoroughly ashamed,” Banks wrote. “Endorsing and promoting sodomy is of benefit to no one. This topic is disruptive to the workplace and is an assault on Christians and morality, as well as antithetical to our design and our survival.”

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Hillary Clinton Calls for Corporations to Share Profits With Workers


Hillary Clinton. (photo: AP)
Hillary Clinton. (photo: AP)

 

emocratic presidential front-runner Hillary Clinton is using what her campaign is describing as a “major economic address” Monday morning to call for companies to share more profits with their employees and for an overhaul of the nation’s tax code.

In the speech, Clinton promised to change the tax code to encourage companies to expand profit sharing with their employees. The speech was delivered Monday morning at the progressive New School in Manhattan.

“We need new ideas … One that I believe in and will fight for is profit sharing,” Clinton said, according to excerpts of her speech released by her campaign.

“Hardworking Americans deserve to benefit from the record corporate earnings they helped produce,” she said. “So I will propose ways to encourage companies to share profits with their employees. That will be good for workers and good for business. Studies show profit sharing that gives everyone a stake in a company’s success can boost productivity and put money directly into employees’ pockets. It’s a win-win.”

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Kansas seeks to dismiss gay marriage tax lawsuit


KAKE | July 12, 2015

TOPEKA, Kan. (AP) — The Kansas Department of Revenue has filed a motion to dismiss a lawsuit over the tax filing status of same-sex married couples, saying the issue is now moot.

David Brown, who represents two Kansas couples who filed a lawsuit against the department, told the Lawrence Journal-World the motion was filed late Thursday in Shawnee County District Court. The motion follows the decision last month by the U.S. Supreme Court making same-sex marriage legal nationwide.

The Revenue Department’s motion Wednesday also came the day after Kansas Attorney General Derek Schmidt’s office filed similar documents in a federal lawsuit in Kansas City, Kan.

As of Friday afternoon, the judge hearing the case had not issued an order of dismissal. But Brown says he expects one to be issued soon.

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BP Could Get Billions in Tax Breaks on Oil Spill Settlement


In this June 4, 2010 file photo, a worker picks up blobs of oil with absorbent snare on Queen Bess Island at the mouth of Barataria Bay near the Gulf of Mexico in Plaquemines Parish, Louisiana. (photo: Gerald Herbert/AP)
In this June 4, 2010 file photo, a worker picks up blobs of oil with absorbent snare on Queen Bess Island at the mouth of Barataria Bay near the Gulf of Mexico in Plaquemines Parish, Louisiana. (photo: Gerald Herbert/AP)

 

Jennifer Larino | The Times-Picayune | Reader Supported News | July 11, 2015

ast Thursday (July 2), states attorneys general in Louisiana and four other Gulf Coast states celebrated an $18.7 billion settlement with BP over claims from the 2010 Gulf of Mexico oil spill. A report from the U.S. Public Interest Research Group says the true value of the deal could be far lower after BP files its taxes.

Federal tax law prevents companies from deducting penalties paid for breaking the law from their corporate taxes. But damage payments — such as money paid for coastal restoration — can be treated as a business expense.

According to the Public Interest Research Group, at least $13.2 billion in the settlement is not defined as a penalty, meaning BP could potentially get tax breaks on that chunk of money. This includes payments to restore natural resources the spill damaged.

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