Former Banker Extradited from Malaysia to United States to Face Charges in Multi-Billion Dollar Money Laundering and Bribery Scheme Relating to the 1MDB Fund

A Malaysian national, Ng Chong Hwa, 46, also known as “Roger Ng,” has been extradited from Malaysia to the United States to face charges of conspiring to launder billions of dollars embezzled from 1Malaysia Development Berhad (1MDB), Malaysia’s investment development fund, conspiring to violate the Foreign Corrupt Practices Act (FCPA) by paying bribes to multiple … Read moreFormer Banker Extradited from Malaysia to United States to Face Charges in Multi-Billion Dollar Money Laundering and Bribery Scheme Relating to the 1MDB Fund

Former FBI Linguist Arrested on False Statement and Obstruction Charges

A Virginia man who previously served as a linguist for the FBI was arrested Saturday night on charges of making multiple false statements to FBI officials and obstructing a federal investigation. Assistant Attorney General for National Security John C. Demers, U.S. Attorney G. Zachary Terwilliger for the Eastern District of Virginia and Assistant Director in … Read moreFormer FBI Linguist Arrested on False Statement and Obstruction Charges

Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment Assistance

The Economic Development Administration (EDA) has received petitions for certification of eligibility to apply for Trade Adjustment Assistance from the firms listed below. Accordingly, EDA has initiated investigations to determine whether increased imports into the United States of articles like or directly competitive with those produced by each of the firms contributed importantly to the … Read moreNotice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment Assistance

Westpac Drops Profit 24%

Westpac released their 1H19 results today and declared a statutory net profit of $3,173 million, down 24%. It would have been worse, but for lower than expected provisioning at $0.33 billion. Revenue was weaker than expected as they were hit by slower mortgage lending and weaker treasury. Margin is under pressure, but customer remediation costs … Read moreWestpac Drops Profit 24%

Good Riddance to a "Nothing-Burger" Trade Deal

China has expanded its domestic debt to fund its growth, much of which qualifies as malinvestment, creating financial vulnerabilities its government is anxious to mask. As I noted in Trade Deal Follies: The U.S. Has Embraced the World’s Worst Negotiating Tactics (April 8, 2019), the trade deal was a Nothing-Burger for the U.S. Without any consequences for violating … Read moreGood Riddance to a "Nothing-Burger" Trade Deal

(What’s Left of) Our Economy: Are Trump’s Metals Tariffs Starting to Backfire?

Friday’s monthly U.S. jobs report (covering April) not only included the third straight month of weak manufacturing employment gains. It contained the first notable evidence that President Trump’s tariffs (at least on imports of steel and aluminum) contributed to a payroll slowdown. Industry created only 4,000 new jobs sequentially in April. The February and March … Read more(What’s Left of) Our Economy: Are Trump’s Metals Tariffs Starting to Backfire?

F1 Unlawful Presence Memo Lawsuit – Blocked by Court. Why? Next?

As many of you know last year news, USCIS published F1 Unlawful Presence Memo in 2018, with effective date of August 9th, 2018 that changed the way they calculate the unlawful presence. There was a lawsuit filed on this memo by a group of institutions late last year. This was in court for some time … Read moreF1 Unlawful Presence Memo Lawsuit – Blocked by Court. Why? Next?

Sign the petition for Dr. Noah Carl

Free speech is about more than just the First Amendment’s limitation on government power. It’s a principle that should underlie all political discourse. When institutions that promote themselves as open platforms banish those with whom they disagree, it has the same kind of chilling effect as government censorship. Academic freedom is an especially important subset … Read moreSign the petition for Dr. Noah Carl

People gossip for average 52 minutes a day

New York, May 5 (IANS) While people gossip 52 minutes a day on average in 16 waking hours, women don’t engage in “tear-down” gossip any more than men, reveals an interesting study. According to researchers from University of California-Riverside, lower income people don’t gossip more than their more well-to-do counterparts and younger people are more likely … Read morePeople gossip for average 52 minutes a day

US geophysicist on India’s blacklist to get visa next time around

Bengaluru, May 4 (IANS) Renowned US geophysicist Roger Bilham, who was denied a visa to attend a International workshop on climate change and extreme events in the Himalayan region last month, will receive the document the next time he applies it, the California-based convenor of the event has said. “I got a phone call from the … Read moreUS geophysicist on India’s blacklist to get visa next time around

Govt sees little scope for Jet Airways’ revival: Sources

The government sees little hope of a bidder emerging for Jet Airways, which halted operations last month, two finance ministry officials said. Parties that initially expressed interest in Jet, saddled with roughly $1.2 billion of debt, have so far failed to come forward with firm bids to bail it out, increasing odds that it could … Read moreGovt sees little scope for Jet Airways’ revival: Sources

This Week in Conflicts: Trump Files Lawsuit to Stop Release of Financial Documents, New Emolument Concerns and Taxpayers Cover Cost of Alcohol Bill at Mar-a-Lago

Donald Trump stands in Trump Tower after signing the loyalty pledge to the Republican Party. (Image Credit: Michael Vadon) This week, President Donald Trump and his company filed a lawsuit to stop the release of financial documents, news about foreign governments renting space in Trump World Tower raise more emolument concerns and details emerge about … Read moreThis Week in Conflicts: Trump Files Lawsuit to Stop Release of Financial Documents, New Emolument Concerns and Taxpayers Cover Cost of Alcohol Bill at Mar-a-Lago

Income tax e-filers drop by over 6.6 lakh in FY19: Official data

In a first in recent history of tax filings, income tax e-filings in FY2019 have dropped by more than 6.6 lakh, a trend that analysts said was surprising as tax base was expected to increase post demonetisation. According to statistics put out on Income Tax Department’s website, tax e-filings in FY 2018-19 was 6.68 cr, … Read moreIncome tax e-filers drop by over 6.6 lakh in FY19: Official data

Tata Motors may drop small diesel cars from its portfolio

Auto major Tata Motors may phase out small diesel cars from its portfolio as demand is expected to slow down due to upcoming BS-VI emission norms that would make such vehicles expensive, according to a senior company official. Already, market leader Maruti Suzuki India (MSI) has stated that it would discontinue diesel models from April … Read moreTata Motors may drop small diesel cars from its portfolio