Business

Entergy Falsified Documents at NY Nuclear Power Plant

Entergy Falsified Documents at NY Nuclear Power Plant
An Entergy employee falsified safety documents pertaining to the Indian Point nuclear power plant in New York City. The employee faces jail time, but the company has yet to punished.
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Global Enemy #1: Tax Shelters

Global Enemy #1: Tax Shelters
As bankrupted governments are starved of revenue, global corporations and its upper echelon evade taxes at an unprecedented rate. In the UK, protesters shut down HSBC banks and set up food banks. It was a poignant representative image of after effects that come from harsh austerity measures that only benefit the 1%. Now, the G20 is agreeing to get serious about tax avoidance — but will it actually matter?
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GlaxoSmithKline Accused of Bribing Doctors to Boost Sales

GlaxoSmithKline Accused of Bribing Doctors to Boost Sales
GlaxoSmithKline has been accused of bribing doctors in China in order to boost sales. Chinese government officials say they have uncovered evidence of a bribery scheme involving 700 travel agencies who were used to funnel as much as three billion yuan ($480 million) in payments.
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CT Taxpayers Gave $51 Million to $20 Billion Company

CT Taxpayers Gave $51 Million to $20 Billion Company
Last summer, Connecticut Governor Dannel Malloy announced that Alexion Pharmaceuticals would become the fourth company to collect taxpayer subsidies (aka, Corporate Welfare) under his "First Five" economic development initiative. So what will happen to that money now that Alexion is in the process of being bought by a Swiss company?
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John Pelto
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In Response to Peaceful Protests, Mining Company Hires Paramilitary Commandos

In Response to Peaceful Protests, Mining Company Hires Paramilitary Commandos
In response to protests against test drilling for a controversial proposed $1.5 billion open-pit iron ore mine in northern Wisconsin by Gogebic Taconite, the mining company has hired masked, camouflaged, assault-rifle-toting guards to "instinctively and smoothly manage surrounding threats."
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US Banking Insurance: Only $6 in Reserves Per $10,000 in Deposits

US Banking Insurance: Only $6 in Reserves Per $10,000 in Deposits
Shifting the burden of a major bank collapse from the blameless taxpayer to the blameless depositor is another case of robbing Peter to pay Paul, while the real perpetrators carry on with their risky, speculative banking schemes. The only way to truly prevent risky derivatives from blowing up in the economy's face is to prevent the risks in the first place, through regulation or, gasp, even bank nationalization.
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Obama's 'Power Africa' a Sweet Deal for GE, Not Sub-Saharan Africa

Obama's 'Power Africa' a Sweet Deal for GE, Not Sub-Saharan Africa
Following his recent trip to Africa, President Obama has been lauding his new 'Power Africa' program, which he claims will funnel money and resources to "double access to power in sub-Saharan Africa." Yet, the money the U.S. government is throwing at the program will in fact be pumped into U.S.-based multinational corporations.
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Corporate Welfare State: Big Business Taxed at 12.6 Percent, Half of What Teachers Pay

Corporate Welfare State: Big Business Taxed at 12.6 Percent, Half of What Teachers Pay
A new study shows that the big U.S. companies paid only 12.6 percent in taxes on their reported worldwide profits in 2010. Corporate taxes have gone from 5-6 percent of GDP down to only a third of that. The corporate share of all taxes paid has gone from 28 percent to a third of that, too. And these lower taxes have hurt — not helped — our economy and country.
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US Corporations, GMOs Thrive Under Obama's African Partnership

US Corporations, GMOs Thrive Under Obama's African Partnership
Rounding out his multi-state African tour Monday, US President Barack Obama pledged a new era of "partnership" with the continent, promising "an end to famine and a thriving African agricultural industry." However, critics and food sovereignty advocates—wary of such remarks—want to know who gets to "thrive" and at what cost.
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Bank Executives Joked About Billion Euro Bailout Scam

Bank Executives Joked About Billion Euro Bailout Scam
Executives at one of Ireland’s biggest banks laughed and joked about how they were going to fool the Central Bank into bailing them out, according to a tape recording obtained by the Irish Independent. The failure of Anglo Irish Bank is eventually expected to cost the taxpayer €30 billion.
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