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Panama Papers Scandal: 5 Things to Know

Apr 5, 2016, 2:38 pm EDT

A law firm in Central America revealed the Panama Papers, which consist of data from offshore accounts.

Here are five things you need to know about it:

    German daily Sueddeutsche Zeitung got the documents from Panamanian legal firm Mossack Fonseca and shared it with more than 100 media groups. The year long investigation includes 11.5 million documents, including several world leaders and celebrities such as President Vladimir Putin to relatives of Chinese President Xi Jinping. Banks, companies and close associated of Putin moved around about $2 billion “through banks and shadow companies.” A Panamanian shell company may have helped hide millions of dollars. Offshore financial dealings are not illegal but these accounts are sometimes used to hide assets from tax authorities or launder money.

The opinions contained in this column are solely those of the writer.
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FCC Approves Internet Subsidy for Low-Income Americans

Apr 1, 2016, 12:55 pm EDT

The Federal Communications Commission (FCC) has approved an internet subsidy for Americans with low income.

The proposal was approved by the FCC 3 to 2. It will expand the mobile phone subsidy called Lifeline, which is used by 12 million U.S. households, to include internet for low-income citizens.

As part of the subsidy, service providers will have until the end of 2019 to offer both phone and internet service to remain part of the Lifeline program. The subsidy for users is $9.25 and FCC Chairman Tom Wheeler wants that to include both services with this change, reports NBC News. Read 

CA, NY Lift Minimum Wage to $15 an Hour

Apr 1, 2016, 12:28 pm EDT

California and New York are both lifting minimum wage to $15 an hour.

California’s minimum wage increase was approved by its Legislature on Thursday. The plan will be signed by Gov. Jerry Brown on Monday. It will be a gradual increase that will take six years to complete.

The New York Senate voted 61 to 1 in favor of a bill that will increase minimum wage to $15 an hour on Friday. Not all employees will see their wages increase at once as the bill will take several years to go into effect. It will also raise wages at different times for different areas in the state. Read 

Donald Trump Abortion Comments: What Did He Say?

Mar 31, 2016, 12:15 pm EDT

Donald Trump has sparked controversy with his recent abortion comments.

Donald Trump recently said in an interview with MSNBC’s Chris Matthews that women that have abortions performed should face some form of punishment if the act is made illegal. The presidential candidate didn’t specify what this punishment should be and said men shouldn’t face punishment if their partner gets an abortion.

Shortly after making his controversial abortion comment, Donald Trump released a new statement. He said he continues to remain pro-life, but that only doctors that perform abortions should be punished and not the women that seek them, reports MSNBC. Read 

California Minimum Wage: $15/Hour Is Nigh

Mar 28, 2016, 12:39 pm EDT

California is one step closer to increasing its minimum wage to $15 an hour.

California legislators have reached a tentative agreement with labor unions that could increase the minimum wage to $15 an hour from $10 an hour. If the agreement is approved, it will allow the wage to be increased without it having to be voted on by residents in the state.

The current deal would increase minimum wage to $15 an hour by 2022. Two other proposals made by labor unions are seeking to increase the California minimum wage to $15 by 2020 and 2021. The increase to $15 an hour would make California the state with the highest minimum wage in the U.S., reports the Associated Press. Read 

Can Donald Trump Make Caterpillar Inc. Stock Great Again? (CAT)

Mar 28, 2016, 11:26 am EDT

Donald Trump has brought a lot of issues to the political stage, and though he rankles many, he deserves at least a modicum of respect.

His controversial stance on dealing with the threat of Muslim terrorist networks came to the forefront in the wake of the horrific Belgium terror attack. Trump’s equally tough position on illegal immigration — particularly from Mexico — is a discussion that America must eventually have. It comes as no surprise that Donald Trump would therefore champion American industrial giants like Caterpillar Inc. (CAT).

But to trash Japan, Inc. in the process? That is a note sung five measures too late. Read 

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