Hillary Clinton is consolidating her support among Wall Street donors and other businesses ahead of a general-election battle with Donald Trump, winning more campaign contributions from financial-services executives in the most recent fundraising period than all other candidates combined.
The Democratic front-runner has raised $4.2 million in total from Wall Street, $344,000 of which was contributed in March alone. According to a Wall Street Journal analysis of fundraising data provided by the nonpartisan Center for Responsive Politics, the former secretary of state received 53% of the donations from Wall Street in March, up from 32% last year and 33% in January through February, as the nominating contests began.
The analysis of campaign-finance reports shows that some Wall Street donors have shifted their financial support from Republican candidates who dropped out of the race, such as former Florida Gov. Jeb Bush and Florida Sen. Marco Rubio, to Clinton in recent months.
Trump, by contrast, hasn’t garnered more than 1% of Wall Street contributions in any month through March.
On May 9 at 2 p.m. EDT the International Consortium of Investigative Journalists will be adding to this database information on more than 200,000 offshore entities that are part of the Panama Papers investigation.
Chinese billionaires dominate the top ranks of Australian clients of Panama law firm Mossack Fonseca, and new documents show the lengths to which the Panama law firm would go to protect them.
Mossack Fonseca’s Australian client list can be searched on the Australian Financial Review’s website from 4am on Tuesday as part of a release by the International Consortium of Investigative Journalists, with Chinese investors comprising more than a fifth of the total identifiable Australian-based names.
The client list includes Li Ka Shing, whose $US31.1 billion fortune was not troubled by his $396 million fight with the Australian Tax Office; Thomas and Raymond Kwok, whose Hong Kong property empire (which includes Wilson Parking and Wilson Security in Australia) is valued at $US14.7 billion; Hui Ka Yan, whose Evergrande Real Estate group is worth $US9.8 billion; and Chinese billionaire Liang Guangwei, a former People’s Liberation Army soldier and head of a state-backed technology conglomerate who recently bought a $64 million block of land next to the new headquarters of the Australian spy agency.
Thomas Kwok signed for his Winsome Sky Ltd, and Raymond Kwok signed for his Harmony Core Ltd, the two British Virgin Islands companies through which the Kwok brothers secretly continue to control their offshore empire including Wilson Parking and Wilson Security in AustraliaPanama Papers
New Zealand is at the heart of a tangled web of shelf companies and trusts that are being used by wealthy Latin Americans to channel funds around the world, according to a report on Monday based on leaks of the so-called Panama Papers.
Local media has analyzed more than 61,000 documents relating to New Zealand that are part of the massive leak of offshore data from Mossack Fonseca, a Panama-based law firm. The papers have shone spotlight on how the world’s rich take advantage of offshore tax regimes.
Mossack Fonseca ramped up its interest in using New Zealand as one of its new jurisdictions in 2013, actively promoting the South Pacific nation as a good place to do business due to its tax-free status, high levels of confidentiality and legal security, according to a joint report by Radio New Zealand, TVNZ and investigative journalist Nicky Hager.
Mossack Fonseca’s main contact in New Zealand was allegedly Robert Thompson, co-founder and director of accountant firm Bentleys New Zealand, the registered office of Mossack Fonseca New Zealand, according to the report.
Thomson was listed in more than 4,500 Panama paper documents, the report said.