Tuesday, March 25, 2025
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China’s Ponzi Scheme – 900,000 people +

Amost overnight, Ding Ning and Zhang Min struck it rich with the hot new thing in Chinese finance. In 18 short months, they transformed an old-line industrial company into an Internet phenomenon through the seeming magic of peer-to-peer lending.  It was all a lie -- a vast Ponzi scheme that...
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Malaysia Prosecutor, Fund Will Help in Swiss Graft Probe

KUALA LUMPUR, Malaysia — Malaysia's top prosecutor said Saturday he will cooperate with Swiss authorities, whose investigation into an indebted Malaysian state investment fund indicated that $4 billion may have been misappropriated from Malaysian state-owned companies. Switzerland's top prosecutor said he sought Malaysia's help after the investigation into 1MDB confirmed...
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Google deal highlights need for ‘radical change’ to international tax rules

Google’s £130m tax deal with the UK reveals the need for a radical overhaul of the international tax system, according to Britain’s leading authority on tax and spending. The Institute for Fiscal Studies (IFS) said governments should consider going back to the drawing board to develop a tax system that...
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Death Still Certain. Company Taxes Less So.

Maybe we need to amend the adage about death and taxes being the only two certainties. No offense to Benjamin Franklin (or whoever said it), but taxes don't look all that certain these days. That's true at least for a handful of companies whose bankers and lawyers were as...
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Factions, political hacks and despots

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A mooted succession plan in Bronwyn Bishop’s Sydney seat has been denounced by local Liberal party members as “North Korean nepotism”. Damien Jones, a former chief of staff to Bishop and a key figure in the “choppergate” scandal, has long been understood to have ambitions to succeed the MP for...
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