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Peoples Bank to acquire Liberty Savings Bank

 Liberty  Comments Off on Peoples Bank to acquire Liberty Savings Bank
Mar 202015
 

WHITING | Peoples Bank plans to buy out the much smaller Liberty Savings Bank in the latest in a series of consolidations that have reshaped the local community banking landscape.

NorthWest Indiana Bancorp, the parent company of Munster-based Peoples Bank, announced it has signed an agreement to acquire the Whiting-based federal mutual savings bank through avoluntary supervisory merger conversion transaction, which is where a larger bank takes over a smaller one so it can remain a going concern. No cash or stock will trade hands.

Liberty Savings Bank had branches in Whiting, Schererville and Winfield.

“Liberty Savings Bank, known as ‘The little bank with the big heart,’ believes that Peoples Bank has even a bigger heart when it comes to serving the needs of businesses and families within Northwest Indiana,” President and Chief Executive Officer Joseph R. Shimala. “Both banks share a deep pride in helping form our communities over the decades. This combination will furnish Liberty Savings clients with a wider range of deposit, investment, wealth management and loan products, while still providing clients with the personal service to which they have grown accustomed to throughout the years.”

The merger means the number of community banks based in Northwest Indiana will shrink from eight to seven. At one time, Lake, Porter and LaPorte counties were home to 51 independent community banks.

Liberty Bank had total assets of $58.9 million, loans of $30.8 million and deposits of $55.1 million. If the transaction closes as anticipated in the third quarter, the merged bank will have an estimated $843 million in assets, $548 million in loans and $709 million in deposits.

“This agreement demonstrates our commitment to strategically and prudently expand our high-performing community banking franchise through consolidation,” Peoples Bank Chairman and Chief Executive Officer David Bochnowski said. “Liberty is a strong strategic, financial and cultural fit for us, and has a loyal customer base. Peoples and Liberty have come together as a team to create value for our customers, stakeholders and the communities we serve by executing a strategic merger.”

Last year, Peoples Bank agreed to take over another smaller Northern Lake County bank, First Federal Savings and Loan Association of Hammond. Its latest acquisition marks its entry into the Whiting and Winfield markets.

“We share the same core beliefs of delivering exceptional customer service, creating partnerships and engaging the community,” Peoples Bank President and Chief Operating Officer Benjamin Bochnowski said. “Together we will be an even stronger bank that will continue to create value for the many stakeholders that have invested in Peoples over the years, while providing expanded resources, products and services to benefit Liberty’s customers.”

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Peoples Bank to acquire Liberty Savings Bank

Co-owners of Orange County Register owner Freedom Communications give up executive duties

 Freedom  Comments Off on Co-owners of Orange County Register owner Freedom Communications give up executive duties
Mar 112015
 

SANTA ANA, Calif. The co-owners of Freedom Communications and its flagship newspaper, the Orange County Register, have resigned all executive duties, two years after buying the company and pushing through sweeping changes.

The Register reports (http://bit.ly/1E4gurI ) Aaron Kushner and Eric Spitz announced their decision Tuesday, although Spitz will stay on as Freedom’s chairman of the board.

Publisher Rich Mirman has assumed executive duties as Freedom’s chief executive and president. Mirman is a former casino marketing executive who has run the paper’s day-to-day operations since October.

Kushner, Spitz and their 2100 Trust bought Freedom Communications in 2012 and focused on its print rather than its online presence. They doubled the Register’s newsroom staff, bought the Riverside Press-Enterprise and launched a new paper, the Los Angeles Register, which closed after five months, leading to layoffs.

___

Information from: The Orange County Register, http://www.ocregister.com

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Co-owners of Orange County Register owner Freedom Communications give up executive duties

My Big Coin Pay, Inc. Announces Letter of Intent to Merge With Shot Spirits Corporation

 Cryptocurrency  Comments Off on My Big Coin Pay, Inc. Announces Letter of Intent to Merge With Shot Spirits Corporation
Mar 102015
 

SOURCE: My Big Coin Pay, Inc.

LAS VEGAS, NV–(Marketwired – Mar 3, 2015) – Privately held My Big Coin Pay, the corporate parent of the online cryptocurrency payment platform and virtual wallet website http://www.MyBigCoin.com, announced today that it has entered into a letter of intent to merge with Shot Spirits Corporation (OTC PINK: SSPT), as part of an alternative public offering or “APO” transaction. Subject to regulatory approval and the fulfillment of contractual obligations, if successful, the merged company will be named My Big Coin Pay and is expected to trade on the OTC Pink Marketplace. The current management of My Big Coin Pay will become the management of the surviving public entity.

According to the Letter of Intent, My Big Coin Pay has thirty (30) days to complete the contemplated merger. My Big Coin Pay must, according to the Letter of Intent, work with Shot Spirits Corporation to provide “current public information” through the OTC Pink Marketplace and obtain the necessary regulatory approvals for the merger. The Letter of Intent further contemplates that a definitive agreement with respect to the contemplated merger must be executed within thirty (30) days. The contemplated definitive agreement, subject to revision, provides that upon completion of the merger, the shareholders of My Big Coin Pay will own approximately 90% of the common stock of the surviving entity, while the shareholders of Shot Spirits will own approximately ten (10%).

John Roche, Chief Executive Officer of My Big Coin Pay, said, “This Letter of Intent marks a significant step in the process of becoming a publicly held company.” He added, “My Big Coin Pay is another step closer to being accessible within the micro cap public market, and creating an opportunity for investors to get involved in what we believe is an exciting, emerging technology that seeks to create a viable commercial platform for cryptocurrencies. We will be focusing all of our efforts over the next 30 days on meeting our obligations to close this transaction.” The execution of a definitive agreement and closing of the merger is targeted for late March, 2015, subject to customary closing conditions, regulatory approval as well as shareholder approval from both companies.

About My Big Coin Pay, Inc.

My Big Coin Pay, Inc. is the corporate parent of the online cryptocurrency payment platform and virtual wallet website http://www.MyBigCoin.com. MyBigCoin is a privacy-centered digital currency developed for use with My Big Coin Pay’s emerging peer-to-peer and commercial digital currency exchange platforms. My Big Coin Pay seeks to collaborate with payments industry leaders to develop unique, high-value, cryptocurrency-based payment solutions. My Big Coin Pay, Inc. is a privately-held company based in Las Vegas, Nevada.

Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although My Big Coin Pay, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, My Big Coin Pay is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability meet the conditions necessary to complete the proposed APO transaction.

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My Big Coin Pay, Inc. Announces Letter of Intent to Merge With Shot Spirits Corporation

Tabcorp tells corporate tax inquiry to ban wagering operators using tax havens

 Tax Havens  Comments Off on Tabcorp tells corporate tax inquiry to ban wagering operators using tax havens
Feb 162015
 

Tabcorp chief executive Elmer Funke Kupper.

Tabcorp has used its submission to the corporate tax inquiry to put pressure on the Abbott government to outlaw wagering operators who establish themselves in tax havens such as Vanuatu.

Its submission did not outline the amount of tax the company pays locally. Tabcorp has previously said that it paid more than $500 million in gambling and corporate taxes last financial year.

Tabcorp’s submission comes after other ASX 200 companies in their submissions detailed how they use overseas hubs and claim interest payments to lower their tax bills.

Tabcorp seems less worried about defending its tax position. It is more interested in pushing the Coalition to ban of overseas, unregulated online bookmakers from taking bets from Australians.

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Tabcorp, which has been lobbying the government for some time, proposes amendments under the Interactive Gambling Actthat would require wagering operators taking bets from Australian citizens to hold an Australian wagering licence.

The flow of money to foreign bookies is posing a risk to the integrity of sport and siphoning revenue that would otherwise be returned to the community and racing industry.

“A number of offshore jurisdictions, such as Vanuatu, offer licences to wagering operators under no or low-tax regimes,” Kerry Willcock, executive general manager of the company’s legal and regulatory, says in the submission.

These companies were therefore under no obligation to make Australian tax contributions, racing industry payments, or comply with responsible gambling and other consumer protection requirements.

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Tabcorp tells corporate tax inquiry to ban wagering operators using tax havens

Canada Life acquires Legal & General

 Offshore Companies  Comments Off on Canada Life acquires Legal & General
Feb 102015
 

Canada Life, the UK subsidiary of Canadian financial services group Great-West Lifeco, is to acquire Dublin based offshore insurer Legal & General International (LGII) for an undisclosed sum.

Canada Life, the UK subsidiary of Canadian financial services group Great-West Lifeco, is to acquire Dublin based offshore insurer Legal & General International (LGII) for an undisclosed sum.

Paul Mahon, president and chief executive officer of Great-West Lifeco, said that the transaction will enhance the position of Canada Life in the UK, and give clients and professional advisers further confidence in our UK offshore business.

Launched in 2007, LGII is a subsidiary of the Legal & General Group Plc and provides investment and tax planning solutions, primarily focused on the UK high net worth market. LGII has over 4,000 UK offshore bond policies with assets under administration of 2.5bn (3.3bn), as at October 30th 2014.

Canada Lifes Irish operations were subsumed into Irish Life in January 2014, but the UK operations still carry the name. An offshore bond provider, it has been selling into the UK for over 27 years through its offshore companies, based in the Isle of Man.

The sale of LGII is part of the L&G groups ongoing disposal programme of its peripheral assets.

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Canada Life acquires Legal & General

Ten years in, California's stem cell program is getting a reboot

 Regenerative Medicine  Comments Off on Ten years in, California's stem cell program is getting a reboot
Jan 042015
 

Turning 10 years old may not quite mark adolescence for a human child, but for a major government research effort such as California’s stem cell program, it’s well past middle age.

So it’s a little strange to hear C. Randal Mills, the new president and chief executive of the program known formally as the California Institute for Regenerative Medicine, say it’s time to instill in CIRM “a clear sense of mission.”

But that’s what Mills is planning for the coming year, as he launches CIRM 2.0, a comprehensive reboot of the program.

Mills, a former biotech company chief executive, took over as CIRM’s president last May. His first task, he told me, was to “take a step back and look broadly at how we do our business.” He reached the conclusion that “there was a lot of room for improvement.”

That’s a striking admission for a program that already has allocated roughly two-thirds of its original $3-billion endowment.

Biomedical researchers are sure to find a lot to like about CIRM 2.0, especially Mills’ commitment to streamline the program’s grant and loan approval process for projects aimed at clinical trials of potential therapies. Reviews of applications take about 22 months on average; Mills hopes to cut that to about three months. The process can be made more efficient without sacrificing science: “We need to do it quickly and also focus on quality,” he says in a videotaped presentation on the CIRM website. The CIRM board last month approved a six-month, $50-million round of funding under the new system, all to be aimed at testing new therapies.

Yet the focus on drug development shows that CIRM remains a prisoner of the politics that brought it into existence. The Proposition 71 campaign in 2004 employed inflated promises of cures for Parkinson’s disease, Alzheimer’s, diabetes and other therapy-resistant conditions to goad California voters into approving the $3-billion bond issue ($6 billion with interest) for stem cell research.

CIRM says it has funded clinical trials of 10 therapies and has backed an additional 87 projects “in the later stages of moving toward clinical trials.” In scientific terms that’s progress, but it may fall short of the public expectations of “cures” stoked by the initiative’s promoters 10 years ago.

And that poses a political problem. At its current rate of grant and loan approvals of about $190 million a year, CIRM has enough funding to last until 2020. What happens after that is an open question, but any campaign to seek new public funding may depend on CIRM’s having a successful therapy to show off to voters.

Mills says winning approval for more public funding isn’t the goal of CIRM 2.0. “It’s not our job at CIRM to extend the life of CIRM,” he told me. Instead, he couches the need for urgency in terms of serving patients. As chief executive of Maryland-based Osiris Therapeutics, where he worked before joining CIRM, he says, he had “a firsthand view into the significance of stem cell treatment, and of how important urgency is in this game.” Osiris received approval from the Food and Drug Administration and Canadian regulators for a stem cell drug to treat children with severe complications from bone marrow and other blood transplants.

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Ten years in, California's stem cell program is getting a reboot

Why Liberty Shoes Shares Have Doubled in a Year

 Liberty  Comments Off on Why Liberty Shoes Shares Have Doubled in a Year
Dec 252014
 

Adesh Gupta, chief executive officer at Liberty Shoes

Liberty Shoes had a fantastic year so far; its shares are up 133 per cent from the 52-week low of Rs 114 hit on January 30. A careful analysis would reveal that most of the gains have come in the last one week.

Liberty Shoes jumped more than 30 per cent over last week, buoyed by the introduction of the constitutional amendment bill for Goods and Service Tax in Lok Sabha on Friday.

The implementation of GST will increase the competitiveness of organized players in the footwear industry, helping companies such as Liberty Shoes, analysts say.

The sharp fall in crude oil prices has also contributed to the strong rally in Liberty Shoes. A lot of raw materials used by the footwear industry are derived from crude oil and prices of these raw materials have come down tracking the crash in crude oil prices.

Adesh Gupta, chief executive officer at Liberty Shoes told NDTV that the fall in raw material cost has offset the increase in labour cost and led to improvement in margins.

“Material cost is 33 per cent of the maximum retail selling price,” he added. (Watch full interview)

Liberty Shoes’ core business also picked up in 2014. According to Mr Gupta, all three business segments-domestic, institutional exports posted about 30 per cent this year.

“We have plans to open about 100 stores each year, which should give us a solid growth going forward,” said Mr Gupta. 60 new stores would be franchise-owned, while 40 stores would be company-owned, he added.

Majority of the new stores would come up in tier-2 and tier-3 cities, where rentals are lower, the company said.

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Why Liberty Shoes Shares Have Doubled in a Year

NATO Secretary General with President of Afghanistan and Chief Executive, 01 DEC 2014 – Video

 NATO  Comments Off on NATO Secretary General with President of Afghanistan and Chief Executive, 01 DEC 2014 – Video
Dec 042014
 



NATO Secretary General with President of Afghanistan and Chief Executive, 01 DEC 2014
Joint press point with NATO Secretary General Jens Stoltenberg, President of the Islamic Republic of Afghanistan Mohammad Ashraf Ghani and the Chief Executive Abdullah Abdullah. Held at NATO…

By: NATO

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NATO Secretary General with President of Afghanistan and Chief Executive, 01 DEC 2014 – Video

First bitcoin retail store launches in Hong Kong

 Bitcoin  Comments Off on First bitcoin retail store launches in Hong Kong
Nov 252014
 

Tony Liaw and Adam Xu

Wednesday, November 26, 2014

BitFX, a mining and trading firm of the virtual currencies, launched the first bitcoin retail store in Hong Kong yesterday.

Located in Jordan, Kowloon, the store aims to provide one-stop bitcoin exchange services to users.

“When we founded BitFX we wanted to create a physical presence for bitcoin and connect the digital and physical bitcoin experience,” said Gina Lesile, BitFX vice chairwoman.

Bitcoin is an open-source peer-to-peer electronic money and payment network introduced in 2009.

To improve security of the virtual currency, BitFX introduced the 3D Bitcoin wallet, which features better protection.

Bitcoinnect chief executive Jase Leung Wing-hei said it is going to launch five more bitcoin ATMs across the SAR this week.

Leung said his firm is working with regulators to improve the security of the currency, as the bitcoin industry has come under scrutiny after the MtGox scandal.

MtGox has mysteriously disappeared, after chief Mark Karpeles said 774,000 bitcoins worth US$409 million (HK$3.19 billion) were lost due to a technical glitch.

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First bitcoin retail store launches in Hong Kong

Liberty Global Sees German Watchdog Open to Vodafone Deal

 Liberty  Comments Off on Liberty Global Sees German Watchdog Open to Vodafone Deal
Nov 222014
 

Liberty Global Plc (LBTYA) co-Chief Financial Officer Charles Bracken said that regulators would probably give their permission if Vodafone Group Plc (VOD) tries to buy its German business.

I think they would approve it, Bracken told a small group of attendees yesterday after an investor presentation in Barcelona. If Vodafone were to make an offer, it would be up to Liberty Globals billionaire Chairman John Malone to decide whether he wants to sell, he said. Vodafone and Liberty Global own the two biggest cable operators in Germany.

We got a good thing going here, we reckon we can drive this thing with a reasonably high share, Bracken said, referring to Liberty Globals European business. On that basis there is no reason to abandon ship, but its up to John.

Vodafone has stepped into European cable operations, snapping up Germanys largest operator, Kabel Deutschland Holding AG, and Grupo Corporativo Ono SA of Spain for about 15 billion euros ($18.6 billion) in the past two years. Chief Executive Officer Vittorio Colao, when asked in September whether Liberty Global would be a good fit for the wireless carrier, said he would consider it for the right price.

Liberty Global has a market value of about $35 billion, compared with $95 billion for Vodafone.

Chief executive officer of Vodafone Group Plc, Vittorio Colao, when asked in September whether Liberty Global would be a good fit for the wireless carrier, said he would consider it “for the right price.” Close

Chief executive officer of Vodafone Group Plc, Vittorio Colao, when asked in September… Read More

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Chief executive officer of Vodafone Group Plc, Vittorio Colao, when asked in September whether Liberty Global would be a good fit for the wireless carrier, said he would consider it “for the right price.”

Ben Padovan, a spokesman for Newbury, England-based Vodafone, declined to comment whether the company is interested in Liberty Globals assets. Marcus Smith, a Liberty Global spokesman, declined to comment beyond Brackens remarks.

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Liberty Global Sees German Watchdog Open to Vodafone Deal

NATO chief hails new chapter in Afghanistan

 NATO  Comments Off on NATO chief hails new chapter in Afghanistan
Nov 082014
 

NATO Secretary General Jens Stoltenberg meets Afghan President Ashraf Ghani during a visit to Afghanistan on Thursday, Nov. 6, 2014.

Stars and Stripes

Published: November 6, 2014

KABUL, Afghanistan NATO Secretary-General Jens Stoltenberg, during an unannounced visit to Afghanistan Thursday, promised continued alliance support after foreign combat troops leave the country by years end.

NATO and our partners have stood with Afghanistan for more than a decade, Stoltenberg said during a joint news conference with Afghan President Ashraf Ghani. Next year, we will open a new chapter. The future of Afghanistan will be in Afghan hands. But our support will continue.

After the NATO-led combat mission ends this year, about 12,000 foreign troops 9,800 of them American will remain primarily to advise and assist Afghan security forces.

Ghani praised the alliances efforts, noting NATO troops have stood shoulder to shoulder with Afghan National Security Forces during the bloodiest days of the 13-year war. While he said he was confident Afghan forces will be able to secure the country after 2014, Ghani noted that effort would depend on continued financial backing from Washington and NATO.

NATO has committed to fund Afghanistans 350,000 security forces at $4.1 billion annually. At a NATO summit in Wales in September, alliance leaders committed to continue funding through 2017.

Afghanistans new president was supposed to attend that summit, but because election results were still in dispute, the country was represented by the defense minister. Stoltenberg invited Ghani and Abdullah Abdullah chief executive in the new unity government and Ghanis rival in the protracted election to attend a NATO ministerial meeting on Dec. 2.

Stoltenberg said NATO wanted to develop its long-term partnership with Afghanistan.

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NATO chief hails new chapter in Afghanistan

Liberty Media set to complete spinoff; revenue rises

 Liberty  Comments Off on Liberty Media set to complete spinoff; revenue rises
Nov 052014
 

Liberty Media Corp. said it expects to complete the spinoff of its cable business Tuesday as the media company also reported its third-quarter revenue and operating earnings improved, mostly thanks to contributions from its stake in SiriusXM Holdings Inc.

“We expect to complete the spin-off of Liberty Broadband today and look forward to the focus and clarity that it will provide for both Liberty Broadband and Liberty Media,” Liberty Media Chief Executive Greg Maffei said.

In the spinoff, eligible holders across several series of Liberty Media stock will receive one-fourth of a share of the corresponding series of Liberty Broadband common stock for each Liberty Media share.

The media conglomerate, which owns a majority stake in SiriusXM, highlighted strong results at the satellite-radio provider. Last week, Sirius XM reported its third-quarter profit more than doubled as it added more subscribers. The company also raised its 2014 revenue outlook again. Earlier in October, Sirius authorized a $2 billion increase to its stock buyback program.

Liberty Media reported a profit of $33 million, compared to $76 million a year earlier.

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Liberty Media set to complete spinoff; revenue rises

Freedom Camping Bylaw not this summer

 Freedom  Comments Off on Freedom Camping Bylaw not this summer
Nov 022014
 

Media Release

Release date: 3 October 2014

Freedom Camping Bylaw not this summer

The draft Freedom Camping Bylaw will not come into effect until after the end of the summer camping in 2015.

The season that began on Sunday with the start of daylight savings will continue just as it has in previous years.

The Hearings Committee heard submissions on the draft Freedom Camping Bylaw at a meeting on September 10.

A petition from Rere residents and a total of 16 submissions were received, with seven presented verbally to the Committee.

The issues raised in the overall submissions were sites, fees and permits, restrictions, number of nights and permission for use of prohibited sites.

As a result of submissions, the recommendation was that the Bylaw will not come into effect until after a larger review is completed on how Freedom Camping will be funded. Says chief executive, Judy Campbell.

Council will begin the review during October to consider whether permits will be user-pays, as they are now, or funded by rates, in time to make a decision by the end of summer camping.

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Freedom Camping Bylaw not this summer

5 Dakshina Kannada beaches to be developed

 Beaches  Comments Off on 5 Dakshina Kannada beaches to be developed
Oct 282014
 

Mangalore, Oct 28:

Five beaches along the coastline of Dakshina Kannada district will be developed with necessary infrastructure by March 2015.

AB Ibrahim, Deputy Commissioner of the district, said this on Tuesday on the sidelines of a meeting to review the beach tourism development projects in the district.

The Karnataka Tourism Department had identified beaches in Surathkal, Someshwara, Talapaddy, Ullal and Sultan Battery for development. The Union Ministry of Tourism has approved the allocation of Rs 13.72 crore for the development of these beaches, he said.

Ibrahim asked the officials of Karnataka Rural Infrastructure Development Ltd (KRIDL) to begin work on the project by November 1. KRIDL has been assigned the work of developing basic infrastructure on these beaches.

Thulasi Maddineni, Chief Executive Officer of Dakshina Kannada Zilla Panchayat, said that each beach has been identified keeping the tourist flow in mind. Someshwara beach will attract religious tourists, Surathkal beach will attract family tourists, and Talapaddy beach will be of attraction to nature lovers. Ullal beach is best suited for homestay tourists and Sultan Battery caters to the requirements of local tourists, she said. She also suggested improving road network to the beaches.

Yatish Baikampady, Chief Executive Officer of Panambur Beach Tourism Development Corporation, suggested developing multiple approach roads to the beaches identified for development. Such arrangements will help during emergencies, he said.

(This article was published on October 28, 2014)

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5 Dakshina Kannada beaches to be developed

Solar panels light up the Cook Islands

 Islands  Comments Off on Solar panels light up the Cook Islands
Oct 222014
 

$3.3m power plant turned on JACK MONTGOMERIE

SUPPLIED

Infratec Renewables’ completed 960-kilowatt solar panel plant in Rarotonga.

A South Canterbury company’s subsidiary has switched on a $3.3 million Cook Islands solar power plant.

Cook Islands Prime Minister Henry Puna opened Netcon subsidiary Infratec Renewables’ 960-kilowatt Te Mana o Te Ra plant in Rarotonga on Monday.

The country aims to produce 50 per cent of its electricity from renewable sources by next year, rising to 100 per cent by 2020. The panels Infratec installed are expected to produce about 5 per cent of the Cook Islands’ electricity.

Infratec general manager Peter Apperley said the project had been a huge collaborative effort between New Zealand and the Cook Islands.

Site manager Tony Scott and 10 Rarotongan workers installed the panels next to Rarotonga International Airport. They will be owned and operated by Cook Islands electricity company Te Aponga Uira.

New Zealand’s Ministry of Foreign Affairs and Trade paid for the power plant and High Commissioner Joanna Kempkers said the project had been completed on time and on budget.

Netcon parent company Alpine Energy’s chief executive Andrew Tombs said Alpine remained interested in the development of solar power.

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Solar panels light up the Cook Islands

New Bitcoin exchange launches in Sydney

 Bitcoin  Comments Off on New Bitcoin exchange launches in Sydney
Oct 212014
 

The Australian Taxation Office ruled in August that Bitcoin, which trades uses mathematical code, is a commodity, not a currency and people who transact using Bitcoins will have to pay goods-and-services tax on the Australian dollar value of the transaction. Photo: Jim Urquhart

The hype around digital currency Bitcoins continues to defy the expectations of investment professionals as another Australian-based exchange opens today, promising to give investors faster trading access than ever before.

Bitcoin company, Independent Reserve, has launched the country’s newest exchange, based in Sydney. It is understood there are now two in Australia.

Unlike the two main Australian-based stock exchanges, Independent Reserve is not regulated by the Australian Securities and Investments Commission, which means the company has had to take investor protection into their own hands.

“Price Waterhouse Coppers are auditing all of our finances,” said the company’s chief executive Adam Tepper.

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“We are trying to mitigate risks to ensure people think their money is safe and secure. We have done everything we could possibly do to minimise risk to our clients,” he said.

The Australian Taxation Office ruled in August that Bitcoin, which trades uses mathematical code, is a commodity, not a currency and people who transact using Bitcoins will have to pay goods-and-services tax on the Australian dollar value of the transaction.

Independent Reserve said it will not charge GST on the funds sold through its exchange.

Wild fluctuations in the price of a Bitcoin – which is currently trading at $US380 and was once as high as $US1000 – as well as heightened level of risk and lack of formal regulation are often cited by professional investors as the reasons why they will not invest in the digital currency.

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New Bitcoin exchange launches in Sydney

AbbVie Cools on $55B Shire Deal After U.S. Tax Changes

 Tax Havens  Comments Off on AbbVie Cools on $55B Shire Deal After U.S. Tax Changes
Oct 152014
 

U.S. pharmaceutical company AbbVie said it was reconsidering its $55 billion takeover of Shire in the wake of U.S. government moves to curb deals designed to cut tax, wiping $13 billion off the London-listed firm’s stock price.

Chicago-based AbbVie said late on Tuesday it was responding to the U.S. proposals which aim to make it harder for American firms to shift their tax bases out of the U.S. and into lower cost jurisdictions in Europe.

AbbVie’s move for Shire, a leader in drugs to treat attention deficit hyperactivity disorder (ADHD) and rare diseases, was announced in July amid a spate of similar takeover deals within the U.S. and European pharmaceutical sector.

It proposed creating a new U.S.-listed holding company with a tax domicile in Britain, which applies low tax rates to patent income and has passed laws that make it easy for companies to shift profits into tax havens.

The news hammered shares in Shire, sending them down 27 percent, back to where they were before the deal talks emerged in June.

Shares in larger rival AstraZeneca, which had rebuffed its own takeover deal by U.S. group Pfizer fell 4 percent while replacement knees and hips maker Smith & Nephew, which had also been touted as a target, slipped 3 percent.

AbbVie’s move wrongfooted Shire investors, coming just weeks after AbbVie chief executive Richard Gonzalez, in the wake of the Treasury proposals, told employees of both companies he was “more energized than ever” about the deal.

Also tax advisers had said the Treasury measures were unlikely to significantly impact most inversion deals.

Although the new rules will make some deals costlier and others more difficult, fast-food chain Burger King Worldwide Inc said it will proceed with its $11.5 billion transaction with Canada’s Tim Hortons Inc.

Gonzalez had said Shire’s appeal stretched far beyond its tax domicile, pointing to its portfolio of drugs, some of which command prices of hundreds of thousands of pounds for an annual course of treatment, and its pipeline.

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AbbVie Cools on $55B Shire Deal After U.S. Tax Changes

Give NSA to Rex Danquah Former CEO

 NSA  Comments Off on Give NSA to Rex Danquah Former CEO
Oct 102014
 

Sports News of Friday, 10 October 2014

Source: sportscrusader.com

Dr. Emmanuel Owusu-Ansah, former Chief Executive of the National Sports Authority (NSA) has called on the Ministry of Youth and Sports to appoint Magnus Rex Danwuah Chief Operating Officer of the Ghana 2008 Africa Cup of Nations as the Director-General of the NSA.

He said in an interview that, though Rex Danquah, has been playing a consultancy role for the Ministry of Youth and Sports, he will be the best person to manage affairs of the NSA taking into consideration his track record.

According to Dr. Owusu-Ansah, the former COO of Ghana 2008 is visionary, hardworking and aggressive when it comes to implementation of sports policies and strategies.

The former Chief Executive of the NSA, said the current leadership of NSA is weak and lacks the requisite knowledge to change the dwindling fortunes of the NSA.

Dr. Owusu-Ansah, who resigned recently as the Director of the Sports Directorate of the University of Ghana, said, Rex Danquah, will within two years change the face of the NSA and sports in Ghana.

He urged the Ministry of Youth and Sports to consider offering him the job in the near future since he has the magic wand to turn things around.

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Give NSA to Rex Danquah Former CEO

Liberty Living’s CEO, Charles Marshall takes on the Ice Bucket Challenge – Video

 Liberty  Comments Off on Liberty Living’s CEO, Charles Marshall takes on the Ice Bucket Challenge – Video
Oct 012014
 



Liberty Living's CEO, Charles Marshall takes on the Ice Bucket Challenge
Liberty Living's CEO, Charles Marshall has taken on the charity ice bucket challenge craze, having been challenged by Mark Allan, Chief Executive of Unite Students. As our students from UCL,…

By: LibertyLivingStudent

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Liberty Living’s CEO, Charles Marshall takes on the Ice Bucket Challenge – Video

Liberty Center getting more new restaurants

 Liberty  Comments Off on Liberty Center getting more new restaurants
Sep 242014
 

Three new restaurants have agreements to locate at the $350 million Liberty Center development in Liberty Township, Columbus-based Steiner + Associates said Tuesday.

Brio Tuscan Grille, Cheesecake Factory, and Kona Grill are expected to join Pies & Pints at the mixed-use project near Liberty Way and Interstate 75. Pie & Pints signed a lease in March to locate at Liberty Center. The restaurants are expected to open in fall 2015.

The company has already announced it has agreements with retailers Dillard’s and Dick’s Sporting Goods, Cobb Theatres’ CinBistro, and a 130-room AC Hotels by Marriott to locate at Liberty Center.

Site construction at Liberty Center began earlier this year. Steiner is co-developing the retail portion of the site with Bucksbaum Retail Properties of Chicago.

Yaromir Steiner, chief executive officer of Steiner + Associates, said he expects a dozen restaurants to operate at Liberty Center, filling about 62,000 square feet of the project’s initial phase. The project is envisioned as a 1.1-million-square-foot destination.

Brio, Cheesecake Factory and Kona Grill will have outdoor dining patios similar to those at Columbus’ Easton Town Center, which Steiner also developed.

Cheesecake Factory is opening its second Cincinnati-area location after landing in Sycamore Township at Kenwood Towne Centre 10 years ago. Liberty Township will be Kona Grill’s second Ohio location. Kona Grill has 27 restaurants in 17 states and the first Ohio location will open this fall at Easton Towne Center.

“We are pleased to welcome these four distinctive restaurants to Liberty Center to create an exciting and diverse dining experience for our guests,” Steiner said.

Some of Brio Tuscan Grille’s most successful locations are in other Steiner developments, said Saed Mohseni, president and chief executive of Brio Tuscan Grille. Mohseni said the restaurant company wants to locate in the top retail centers within a market and Liberty Center in Southwest Ohio offered that potential.

Kona Grill offers “an upscale contemporary ambiance” featuring American food and appetizers and entrees with an international influence including a selection of sushi.

Original post:
Liberty Center getting more new restaurants




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