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Alleged tax-haven scheme linked to Canada’s largest brokerage firm

Posted on January 20, 2019January 20, 2019 by

Wednesday, December 16, 2009

In a continuing crackdown on tax evasion, the Canada Revenue Agency (CRA) has alleged that brokers with a branch of RBC Dominion Securities, Canada’s largest brokerage company, helped clients set up accounts in the small European principality of Liechtenstein in order to avoid taxation on their wealth.

In affadavits submitted by the CRA, brokers with an RBC Dominion Securities office in Victoria, British Columbia, allegedly helped clients set up 16 offshore entities with a division of the LGT Group in Liechtenstein. While that is not a crime under Canadian law, auditors allege that the entities were used to help Canadians hide worldwide income. Thirteen individuals are either being audited or have made voluntary disclosures, admitting to tax evasion. The agency is presently investigating to see if there are any other individuals participating in this scheme. Regarding the inquiry, dubbed “Project Jade”, the CRA will only say that it was launched on information from a “confidential informant”.

RBC issued a written statement, saying “As a firm, we have never encouraged Canadians — not 25 years ago and not today — to set up entities in Liechtenstein, and we have never instructed our investment advisers to recommend that practice,” and “we comply with all CRA requirements. This means that we provide all our clients with the forms they need to meet their personal tax obligations, and also file reports with CRA that form the basis for reviews such as this.”

Three RBC employees are presently being investigated, with one remaining unidentified.

Dell joins Microsoft-Nortel VoIP Team

Posted on January 19, 2019January 19, 2019 by

Saturday, October 20, 2007

Dell Inc. announced on Tuesday that it will partner up with the Microsoft-Nortel Innovative communications alliance (ICA) team to sell Unified Communications and VoIP products.

The announcement on Tuesday the 16th of October 2007 includes Dell selling VoIP, data and wireless networking products from Nortel and the Microsoft Office Communications Server 2007 and other unified communications products.

The partnership with both manufacturers should allow Dell to provide a pre-integrated solution.

In March 2007, competitors IBM and Cisco announced they would join in the competition for developing unified communications applications and the development of open technologies around the unified communications and collaboration (UC2) client platform an application programming interfaces (APIs) offered by IBM as a subset of Lotus Sametime.

“We want to make it simple for our customers to deploy unified communications so their end users can get access to all their messages in one place – whether its e-mail, phone or mobile device. This will pave the way for more business-ready productivity tools,” said vice president of solutions, Dell Product Group, Rick Becker.

Customers have four options:
- Core Office Communication Server 2007 – provides instant messaging and on-premise Microsoft Live Meeting.
- Office Communication Server: Telephony – enables call routing tracking and management, VoIP gateway and public branch exchange (PBX) integration.
- Audio and Video Conferencing – allows point-to-point conference, video conference and VoIP audio conference.
- Exchange Unified Messaging – provides voicemail, e-mail and fax in Microsoft Outlook, and anywhere access of Microsoft Outlook Inbox and Calendar.

G20 agrees to avoid currency war, also agrees to reduce trade imbalances

Posted on January 18, 2019January 18, 2019 by

Tuesday, October 26, 2010

The Group of 20 (G20) of the world’s leading developed and developing countries’ finance ministers agreed on Saturday to pursue a plan that would avoid dangerous currency devaluations and would also would attempt to reduce trade imbalances. The plan was introduced by the United States, and the G20 meeting was held in South Korea.

The plan was announced amid rising worries of a “currency war” that would lead to devalued currencies in order to get an export advantage and would damage the global economy. “Our cooperation is essential. We are all committed to play our part in achieving strong, sustainable and balanced growth in a collaborative and coordinated way,” a statement released by the G20 said.

On the topic of trade imbalances, the G-20 stated that “excessive imbalances” would be “assessed against indicative guidelines to be agreed.” This statement was weaker than a commitment proposed by United States Treasury Secretary Timothy Geithner, which would keep trade imbalances “below a specified share” of GDP for the next few years. This proposal was met with strong opposition from export-based economies such as Japan, whose Finance Minister Yoshihiko Noda argued that specific targets were “unrealistic”, but approved of unspecific “guidelines”. He added: “There are many perspectives on the current account issue. Every country has a different situation when it comes to surpluses and deficits. So we need to study this carefully.”

The United States said that they will continue to push for numerical targets and specific time frames at next month’s South Korean summit, where the heads of state of the G20 will convene. “If the world is going to be able to grow at a strong, sustainable pace in the future . . . then we need to work to achieve more balance in the pattern of global growth as we recover from the crisis,” US Treasury Secretary Geithner declared. The finance ministers also set China on the track to floating its currency more, and overhauling the International Monetary Fund (IMF) to give more representation to developing powers such as China and India.

The G20 was created in 1999, includes both developed and developing countries, and represents 85% of the world’s economy. The G20’s heads of state will meet in Seoul, South Korea, next month.

Global markets plunge

Posted on January 18, 2019January 18, 2019 by

Friday, October 10, 2008

Stock markets across the world have fallen sharply with several seeing the biggest drop in their history.

Asian markets saw the biggest sell-off. The Nikkei dropped 9.62% to reach a 20 year low. Japan also saw a collapse of a mid-size insurance company, Yamato Life Insurance Company, which declared bankruptcy. The Hang Seng, which was one of the few markets that was positive yesterday, fell 7.19%. Australia dropped by 8.4% and South Korea saw a 9% fall.

In Europe, markets dropped at the open with the FTSE losing 11%. They have recovered only sightly with all European markets losing more than 5%. The European sell off was more about the Asian lows then any specific news. European banks and financial institutes saw the most selling. Also, oil related companies saw large drops as an result of an expected decrease in oil consumption.

The U.S. markets opened lower with the Dow Jones Industrial Average falling below 8,000, before recovering slightly. President George W. Bush made an address on the economy and said markets were being “driven by uncertainty and fear.”

Oil has seen losses of more than US$6 in trading with the current price of a barrel of oil less than $80. This is a year low for oil. News also came out that OPEC will hold an emergency meeting on November 18 to discuss the falling price of oil.

Charities, such as Cats Protection, today said that they have lost much of their funds in collapsing banks. Cats Protection had a total of £11.2 million saved in the now-collapsed Kaupthing bank.

The British National Council for Voluntary Organisations said that 60 of its 6,500 have lost money due to the collapse of banks.

1 Stock markets
- 1.1 Dow Jones Industrial Average
- 1.2 FTSE 100
- 1.3 Nikkei 225
2 International reaction
- 2.1 George W. Bush
- 2.2 Gordon Brown
- 2.3 Jim Flaherty
3 Market data
4 Sources

The Dow Jones Industrial Average fell to its lowest level in five years at 8,579.19, falling 679 points in one day. This, at 7.3%, is the eleventh largest percentage fall in the history of the index. The growth then continued, with the index being up over 150 points on the start of the day at one point.

The index, did however, recover, and as of 19:30 UTC was up 17.68 points, or 0.21%, pushing the index up to almost 8600.

Peter Cardillo, chief market economist at Avalon Partners, commented on these massive falls. “What we’ve seen here was one big margin call that just kept feeding on itself, so the opposite could happen. But you need a catalyst,” he said. “I’m more convinced now than ever that this market has made a bottom. The capitulation came when we breached 8,000,” he continued. “It doesn’t mean we can’t go back and revisit that level.”

The UK’s FTSE 100 index fell dramatically to close below 4000, in the index’s worst week in history. This is despite the fact that just a few days ago the index was above 5000, and the index peaked above 5500 in September.The FTSE 100 index has fallen by 41% this year.

Barclays Wealth analyst Henk Potts commented on this massive fall. “We are drowning in a sea of red numbers,” he claimed. “Investors are concerned about the exacerbation of the credit crunch and the gloomy forecasts for economic growth. The reality is that most investors have been spooked by the sheer pressure that the credit crunch is putting on the global economy.”

The Japanese Nikkei 225 has recorded it’s third biggest drop in history with a massive sell-off in the exchange that has resulted in USD 250 billion being knocked of the index’s value.

Toyota, which is the second largest carmaker in the world, fell by the largest amount in 21 years, while Elpida Memory, the world’s largest manufacturer of computer memory, dropped in value to a record low.

Masafumi Oshiden, a fund manager in Toyota commented on the drop.”It’s capitulation,” he said. “There are lots of forced sellers. If you’re a fund that’s going bust you need to close out all your positions.”

George W. Bush commented on the financial situation earlier today. “Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear,” he said. “This has been a deeply unsettling period for the American people. Many of our citizens have serious concerns about their retirement accounts, their investments, and their economic well-being.”

Bush then continued by promoting the government’s plan’s to get through the crises. “Here’s what the American people need to know: that the United States government is acting; we will continue to act to resolve this crisis and restore stability to our markets. We are a prosperous nation with immense resources and a wide range of tools at our disposal. We’re using these tools aggressively.”

Gordon Brown, the UK Prime Minister, also spoke on the economy. “I think we quickly realised that we cannot solve the problems we have got as a result of the sub-prime market collapse simply by improving liquidity,” he said speaking in Birmingham to business leaders earlier today. “That would simply not be enough to deal with the bigger problem of rebuilding the banking system for the future and restoring trust is a fundamental element of that.”

Jim Flaherty, the Canadian minister for finance, also commented today on the recent incidents in the economy. “It is important to underline that Canada’s banks and other financial institutions are sound, well capitalized and less leveraged than their international peers,” he claimed. “Our mortgage system is sound. Canadian households have smaller mortgages relative both to the value of their homes and to their disposable incomes than in the U.S.”

“”However, it is becoming increasingly clear that the continuing disruption of global credit markets, which has been severe and protracted, is making it difficult for our financial institutions to raise long-term funding. This is beginning to affect the availability of mortgage loans and other types of credit in Canada,” he continued. “The Government has therefore decided to act to address the current scarcity of private sector lending to Canadian mortgage markets and lending markets overall. This is going to make loans and mortgages more available and more affordable for ordinary Canadians and businesses.”

20:15, 10 October, 2008 (UTC)
DJIA	8.451,19	128,00	1,49%
Nasdaq	1.649,51	4,39	0.27%
S&P 500	899,22	10,70	1,18%
S&P TSX	9.264,57	335,61	3.50%
IPC	19.952,30	357,87	1,76%
Merval	1.215,990	71.340	5,54%
Bovespa	35.615,26	1,474.03	3,97%
FTSE 100	3.932,06	381,74	8,85%
DAX	4.544,31	342,69	7,01%
CAC 40	3.176,49	266,21	7,73%
SMI	5.347,22	451,62	7,79%
AEX	258,05	23,92	8,48%
BEL20	2.123,44	117,44	5,24%
MIBTel	15.438,00	1,081,00	6,54%
IBEX 35	8.997,70	905,20	9,14%
All Ordinaries	3.939,50	351,80	8,20%
Nikkei	8.276,43	881,06	9,62%
Hang Seng	14.796,90	1,146,37	7,19%
SSE Composite	2.000,57	74,01	3,57%

Suresh Joachim breaks ironing world record

Posted on January 17, 2019January 17, 2019 by

Tuesday, September 27, 2005

Brampton – Suresh Joachim of Mississauga, Ontario continues to amaze, breaking yet another world record, this time at The Bay Court in Shoppers World.

From Thursday, September 22 at 8 am, to Saturday, September 24 at 3:05 pm, Suresh ironed continuously for 55 hours and 5 minutes, in front of the thousands of onlookers shopping at the mall those three days.

The achievement, now submitted to the Guinness Book of World Records, breaks the previous record by Eufemia Stadler of Zurich, Switzerland. Stadler completed 40 hours of continuous ironing from September 16-18, 1999.

Originally from Sri Lanka and Australia, Joachim is no stranger to the folks at Guinness. He currently holds twenty other records, ranging from greatest distance travelled on ‘up’ and ‘down’ escalators (225.44 km between May 25 and May 31 1998), furthest travelled on a treadmill in one week (659.27 km at a gym in Paris, France), and longest dance marathon by an individual (100 hours at the Dixie Outlet Mall).

This September, Suresh watched television in the lobby of WABC in New York City for 69 hours and 7 minutes, breaking the previous record by 19 hours. The event was covered daily on the talk show “Live with Regis and Kelly” as part of their Guinness World Record Breaker Week. He also recently set the record for longest time rocking in a rocking chair, at 75 hours.

A DJ on BBC Radio Cambridgeshire recently tried to break Joachim’s record for longest continuous time as a DJ. He was unsuccessful, and Suresh’s 120-hour World Record set on Geethavaani Tamil Radio in Scarborough stands unharmed.

The event helped raise funds for the Universal Fund for Suffering Children, whose funds are “utilized to save the world’s children from poverty, disease and war.” All of Joachim’s stunts have been dedicated to this charity.

What’s next for Suresh? He plans to start static cycling from October 18th, 2005 to October 22nd, 2005, in Britain. Suresh’s goal is 150 world records, which would beat the long-time record breaker Ashrita Furman, who has accumulated 94 records. While Furman started two decades ago, Suresh only discovered the Guinness Book of World Records in 1991, and started record breaking in 1996.

You can visit Suresh online at www.sureshjoachim.org

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Note that some listed sources or external links may no longer be available online due to age.

News briefs:August 5, 2010

Posted on January 16, 2019January 16, 2019 by

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Looted, possibly contaminated body parts transplanted into USA, Canadian patients

Posted on January 16, 2019January 16, 2019 by

Monday, March 20, 2006

Fears of contaminated bone and skin grafts are being felt by unsuspecting patients following the revelation that funeral homes may have been looting corpses.

Janet Evans of Marion Ohio was told by her surgeon, “The bone grafts you got might have been contaminated”. She reacted with shock, “I was flabbergasted because I didn’t even know what he was talking about. I didn’t know I got a bone graft until I got this call. I just thought they put in screws and rods.”

The body of Alistair Cooke, the former host of “Masterpiece Theatre,” was supposedly looted along with more than 1,000 others, according to two law enforcement officials close to the case. The tissue taken was typically skin, bone and tendon, which was then sold for use in procedures such as dental implants and hip replacements. According to authorities, millions of dollars were made by selling the body parts to companies for use in operations done at hospitals and clinics in the United States and Canada.

A New Jersey company, Biomedical Tissue Services, has reportedly been taking body parts from funeral homes across Brooklyn, New York. According to ABC News, they set up rooms like a “surgical suite.” After they took the bones, they replaced them with PVC pipe. This was purportedly done by stealth, without approval of the deceased person or the next of kin. 1,077 bodies were involved, say prosecuters.

Investagators say a former dentist, Michael Mastromarino, is behind the operation. Biomedical was considered one of the “hottest procurement companies in the country,” raking in close to $5 million. Eventually, people became worried: “Can the donors be trusted?” A tissue processing company called LifeCell answered no, and issued a recall on all their tissue.

Cooke’s daughter, Susan Cooke Kittredge, said, “To know his bones were sold was one thing, but to see him standing truncated before me is another entirely.” Now thousands of people around the country are receiving letters warning that they should be tested for infectious diseases like HIV or hepatitis. On February 23, the Brooklyn District Attorney indicted Mastromarino and three others. They are charged with 122 felony counts, including forgery and bodysnatching.

Colleges offering admission to displaced New Orleans students/LA-ND

Posted on January 15, 2019January 15, 2019 by

See the discussion page for instructions on adding schools to this list and for an alphabetically arranged listing of schools.

Due to the damage by Hurricane Katrina and subsequent flooding, a number of colleges and universities in the New Orleans metropolitan area will not be able to hold classes for the fall 2005 semester. It is estimated that 75,000 to 100,000 students have been displaced. [1]. In response, institutions across the United States and Canada are offering late registration for displaced students so that their academic progress is not unduly delayed. Some are offering free or reduced admission to displaced students. At some universities, especially state universities, this offer is limited to residents of the area.

1 Overview
2 Louisiana
3 Maine
4 Maryland
5 Massachusetts
6 Michigan
7 Minnesota
8 Mississippi
9 Missouri
10 Montana
11 Nebraska
12 Nevada
13 New Hampshire
14 New Jersey
15 New Mexico
16 New York
17 North Carolina
18 North Dakota

Deadly fire below US President’s Trump Tower residence

Posted on January 15, 2019January 15, 2019 by

Tuesday, April 10, 2018

On Saturday, the Trump Tower, in Midtown, New York City, caught fire shortly before 18:00 EST (2200 UTC) on the 50th floor, claiming the life of a 67-year-old resident, Todd Brassner, who lived in apartment 50C. All other residents were evacuated without incident. During the fire, six firefighters received non-life-threatening burns and other minor injuries. Neither US President Donald Trump nor the First Family were in the building at the time of the fire.

The high-end Fifth Avenue address is the personal residence of President Donald Trump, whose family occupies the top three stories of the 58-story building. The US Secret Service maintains a constant security presence inside the building with the New York City Police Department guarding a hard perimeter, intended to stop vehicular attacks, and a soft perimeter, intended for on-foot attacks.

The four-alarm fire required 200 firemen, extra police, and paramedics. At 20:00 EST (0000 UTC Sunday), the New York City Fire Department (FDNY) declared the fire was under control. Trump tweeted, “Firemen (and women) did a great job. THANK YOU!” This is the second fire at Trump Tower since the election; previously on January 8, a fire was caused by an electrical malfunction in a cooling tower on the roof. Three FDNY firefighters received minor injuries, and all residents and office workers evacuated without incident on that occasion.

Trump Tower provides a number of unique problems never before encountered by the Secret Service. Never has a US President’s personal residence been inside a skyscraper or in a densely populated area like Midtown. The security measures have disrupted vehicular and pedestrian traffic requiring time consuming detours and delaying emergency response.

The New York Fire Code did not mandate sprinkler systems at the time Trump Tower was built in 1983, which might have reduced the size and severity of the fire had they been present. The 50th-floor apartment was, according to FDNY Fire Commissioner Daniel Nigro, “[T]he apartment was virtually, entirely on fire.” The Secret Service monitors all the fire alarms in the building but it took time to find the source of the thick black smoke emanating from the fire. Secret Service Agents escorted the firefighters throughout the building, including the Trump residence.

Brassner, the sole casualty, was unconscious when firefighters pulled him out of apartment 50C. He was transported to Mount Sinai Roosevelt Hospital. Originally listed as critical, he was pronounced dead sometime during the night. Brassner, guitar collector, was acquainted with artist Andy Warhol and was acknowledged in Warhol’s 1989 autobiography, The Andy Warhol Diaries. The cause of the fire is unknown, with investigations into Brassner’s death and the emergency response ongoing. Currently, the Secret Service leads the investigation.

Sudan accuses Chad of air strikes

Posted on January 14, 2019January 14, 2019 by

Sunday, May 17, 2009

Sudan blamed Chad on Sunday of launching an air strike on its territory, a day after accusing the country of mounting two other raids.

“This morning at 10.30 local time [0.730 GMT], another visit took place on the same location and using the same method,” said Othman al-Aghbash, a spokesman for the Sudanese army.

Sudan also accused Chad earlier on Friday of launching a pair of airstrikes 60 kilometers (37 mi) into Sudanese territory. Chad promptly dismissed the accusations, claiming that Sudan was “the robber who cries thief.”

Ali Youssef Ahmed, the head of the Sudanian foreign ministry, called the Friday air strikes an “act of war”. He did not comment on whether Sudan was considering to retaliate to the alleged attacks, only saying that “we are considering all options.”

A spokesman for the Chadian government told reporters that “is surprised to learn that the regime in Khartoum is protesting against action by the Chadian air force on Sudanese territory”. A confrontation would be “simply the consequence of the attack on Chad organised by Sudan, using mercenaries armed, trained, financed and directed by satellite by the Khartoum regime”, he said.