Daily Archives: April 20, 2016

Trump leans toward replacing Fed chief if he wins White House

Republican presidential candidate Donald Trump would be inclined to replace Federal Reserve Chair Janet Yellen if he wins the White House despite supporting the U.S. central bank’s efforts to keep interest rates low, he told Fortune magazine.

“I think she’s done a serviceable job,” Trump said in an interview published late on Tuesday, as the billionaire real estate mogul moved a step closer to becoming his party’s nominee with a resounding win in the New York state nominating contest.

“I don’t want to comment on reappointment, but I would be more inclined to put other people in.”

Yellen was nominated for the top Fed job by Democratic President Barack Obama and began her four-year term in February 2014.

In his interview, Trump said he “absolutely” backed efforts to diminish the Fed’s power and allow Congress to audit it, and backed away from his pledge to erase the more than $19 trillion in U.S. debt in eight years.

Representatives for the Fed declined to comment on the report.

Read on.

File] Panama Henry Tang, Secretary for illegally concealed offshore companies reporting systems

From hk01.com (translated in English):

  • “Hong Kong 01” made part of the Panama file, found secret files show, Mr Henry Tang took office in 2002, Secretary for Commerce, Industry and Technology 3, the company has owned a 50% stake in the airport business, to be transferred to the trust on behalf of his father held, Mr Henry Tang, is a beneficiary of the trust, after Tang no declaration that the company owns.

  • Since the Executive Council and the declaration of interests accountable officials are specified officials to declare a substantial interest in investment, a lawyer, said Henry Tang, secret files show only in trust by the father had held with half of the company shares in the airport business, Don legal the substance is still the owner, so Don did not declare the company, is a violation of the reporting and accountability mechanisms guild officials.

  • Members of the Legislative Council accountancy profession Mr Kenneth Leung also that, according to available evidence, Mr Henry Tang, in clear violation of the above-mentioned reporting mechanism that requires Tang publicly explain events.

 

Panama Papers: “Armenian Master Of Offshores” Resigns

Armenia’s Chief Compulsory Enforcement Officer submitted his resignation today after revelations that he owns shares in three companies registered in Panama, OCCRP partner Hetq.am said.

Major General of Justice Mihran Poghosyan’s role as head of Armenia’s Compulsory Enforcement Service (CES) required an in-depth knowledge of Armenian laws, rules, and regulations, OCCRP said in its article “The General: An Armenian Master Of Offshores”. Poghosyan was responsible for ensuring all court rulings were properly enforced.

Details of the offshore transactions linked to Poghosyan and two of his relatives were found in the Panama Papers, a mass of internal data from Panamanian law firm Mossack Fonseca. The data was obtained by German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists (ICIJ) with OCCRP and media partners around the world, including Hetq.am.

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U.S. attorney Preet Bharara probes tax avoidance schemes mentioned in Panama papers: Guardian

The U.S. Department of Justice is investigating the tax avoidance claims revealed in the release of the Panama Papers, the Guardian reported on Tuesday.

The U.S. attorney for Manhattan, Preet Bharara, has written to the International Consortium of Investigative Journalists (ICIJ), requesting additional details to aid his investigation, the newspaper said. (http://bit.ly/1ThRreM)

A spokesman for Bharara declined to comment.

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