Swiss business lobby seeks U.S. restraint on banks | G7Finance ...

ZURICH (Reuters) ? U.S. authorities should show restraint in a crackdown on banks accused of helping rich Americans dodge taxes, while indicting another bank could risk significant collateral damage, the head of a Swiss-American business lobby group said on Monday.

The comments by Martin Naville, head of the Swiss-American Chamber of Commerce, came after the United States indicted Wegelin, the oldest Swiss private bank, last week on charges it enabled Americans to evade taxes.

?It should be in the interest of the U.S. to negotiate this thing. The collateral damage also for the U.S. is enormous. Switzerland is the protector of U.S. interests in Iran and Cuba, as well as one of the largest net jobs creator in the USA,? Naville told Reuters.

Close Swiss-U.S. diplomatic and business ties helped seal a deal in 2009 for the country?s biggest bank UBS AG to settle criminal tax charges by paying a fine of $780 million.

The indictment of Wegelin signals a ramping up of pressure on 10 other Swiss banks under investigation by the Justice Department, including Credit Suisse, Julius Baer and Basler Kantonalbank.

Switzerland has been lobbying for a year to get these investigations dropped in return for the payment of hefty fines and the transfer of names of thousands of U.S. bank clients suspected of dodging taxes.

Naville described the decision to indict Wegelin as an ?overzealous? move by Manhattan U.S. Attorney Preet Bharara. ?There should be no interest from an American perspective to really kill this middle road of negotiations.?

COLLATERAL DAMAGE

The threat of an imminent U.S. indictment, seen as the kiss of death for businesses, drove Wegelin to break itself last month.

?They will in all likelihood get names and money much, much faster with the negotiated path,? Naville said. ?If they go the hardball way they will get it sometime down the line, but much later and with a lot of collateral damage in Switzerland and the USA.?

In addition to Swiss representation of U.S. interests in Iran and Cuba, Naville noted the two countries? close business relationship, with Switzerland ranking as sixth-biggest foreign investor in the United States.

Naville said the U.S. move against Wegelin would make it harder for the Swiss government to win approval in parliament in coming weeks for a proposal aimed at allowing banks to transfer data on groups of clients despite strict Swiss bank secrecy.

That in turn could provoke the U.S. Justice Department to indict another bank, he said, possibly including one of the state-controlled Swiss cantonal banks.

?A move against a cantonal bank would be seen in large parts of Switzerland as a direct attack against Switzerland,? he said. ?After such a move it would be immensely difficult to find a negotiated solution in the short term ? If there is any kind of message I can send to our American friends it is ?please don?t do this?.?

(Editing by David Holmes)

Source: http://g7finance.com/personal-finance/swiss-business-lobby-seeks-u-s-restraint-on-banks/

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FACT CHECK: Obama, GOP spin recent energy stats (AP)

WASHINGTON ? You wouldn't know it from the Republicans, but these are boom times for American energy.

And you wouldn't know it from President Barack Obama, but he has very little to do with that.

From the presidential campaign trail to Congress, Republicans have been hammering Obama for locking up the nation's energy resources. GOP presidential frontrunner Mitt Romney, for one, accuses Obama of pursuing policies "that keep us from using our own energy."

But such complaints don't hold up. The U.S. produced more oil in 2010 than it has since 2003, and all forms of energy production have increased.

Obama is not only hoping that simple, rock-solid statistic will silence his GOP critics, he's angling to get some credit for the trend as he navigates a tricky re-election campaign. But he oversells the government's influence on the industry and ignores the fact that many wells coming into production were planned years ago, before he was president.

"We've opened millions of new acres for oil and gas exploration," Obama bragged in recent, multiple speeches. "Right now, American oil production is the highest it's been in eight years."

Data collected by the Energy Information Administration, an independent statistical arm of the Energy Department, are on Obama's side, at least when it comes to pushing back against comments like those heard in the Republican campaign.

"We have an energy policy that doesn't take advantage of our natural resources," Romney said last month. "That makes no sense." Republican rival Newt Gingrich says Obama's "anti-American energy policies are killing jobs and making us all poorer."

Besides the upward trend for oil, more gas has been produced in each of Obama's three years in the White House than any other year since 1936, thanks in large part to a boom in the production of natural gas from shale and other hard-to-reach sources.

Mining for the radioactive ore that fuels nuclear power plants has also risen every year under Obama. And no other president has seen more energy produced from renewables, which include hydroelectric power, solar, wind and biofuels.

Coal mining is also on the rebound, after declining in 2008 and 2009 due in large part to the weak economy and milder weather reducing electricity demand.

In speeches and his first campaign ad, Obama also points to the nation's reduced dependence on foreign oil. But the energy information agency says that the decline began in 2005 and comes from a variety of factors ? among them the recession, high gas prices that dampened driving and changes in efficiency and consumer behavior that pre-date the Obama administration.

Even if Obama's policies aren't the cause for these trends, the data certainly make it harder for Republicans ? and the oil and gas industry ? to substantiate their claim that his policies have dampened energy production.

Lynn Helms, head of the North Dakota Department of Mineral Resources, has watched oil production triple in his state in recent years thanks to new drilling methods, hydraulic fracturing and high oil prices. He says federal policies neither help nor hurt.

In fact, a recent report by the energy information agency projects oil and natural gas production in the U.S. will continue to climb over the next eight years, reducing oil imports and making the U.S. a net exporter of natural gas.

But that same report provides ammunition for Republicans, because it predicts that in the short term, oil production in the Gulf of Mexico, where the Obama administration placed a moratorium on new deep-water exploratory drilling after the Gulf oil spill, will show a decline in 2011 and this year before rebounding later.

In the face of rosy production numbers, Republicans and the oil and gas industry focus on federal lands, because that's where the government controls access and permitting to drill. There, Obama's record is mixed.

"He is implying it is because of his actions that it is happening, and frankly, nothing can be further from the truth," said Rep. Doc Hastings, R-Wash., who heads the House Natural Resources Committee. "Where is the production coming from? It is coming from state and private lands," where the government has little control.

Soon after Obama took office, the Interior Department rescinded 77 leases in Utah because of their close proximity to national parks, later reinstating 17 of them.

Then weeks before the 2010 Gulf oil spill, Obama said he would consider expanding drilling off the Virginia coast and Alaska, only to scrap or delay those plans after the spill.

Partly to respond to Republican criticism and higher gasoline prices, Obama extended leases impacted by the post-spill moratorium, called for annual lease sales in the National Petroleum Reserve in Alaska, and has offered or plans to offer up much of the Western and Central Gulf, and some waters off the Alaskan coast, to oil and gas companies. These steps could help boost production.

___

Follow Dina Cappiello on Twitter (at)dinacappiello

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//news.yahoo.com/s/ap/20120206/ap_on_el_pr/us_energy_production_fact_check

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What would it take for Gingrich, Santorum, or Paul to beat Romney?

Mitt Romney won big in Nevada's caucuses Saturday, bolstering what supporters say is his standing as 'most electable.' But it's months before the GOP nominating convention, and Newt Gingrich, Ron Paul, and Rick Santorum aren't giving up the fight.

Clich?s abound at this early point in any presidential race. ?Never say never.? ?It ain?t over ?til it?s over.?

Skip to next paragraph

And in the cold light of a Nevada desert morning, those seem apt even though Mitt Romney won that state?s nominating caucuses by a wide margin ? his second big victory in a row following Florida just four days earlier ? leaving his main rival Newt Gingrich to figure out a plausible comeback path.

Come convention time next August in Tampa, Fla., it?ll take 1,144 delegates to win the nomination. So far, Romney has 97 ? just 8.5 percent of total. Still, other numbers gathered at the Huffington Post?s ?Election Dashboard? web site, indicate strong standing and momentum for the former Massachusetts governor.

He?s won 94 endorsements from Republican governors, senators, and members of congress as well as "automatic delegates" ? national committee members and state party chairmen. Gingrich has just 11. (Rick Santorum and Ron Paul have 3 each.)

Romney?s campaign has raised $57 million. Gingrich?s has raised $12.7 million ? which is more than Santorum ($2.2 million), but less than Paul ($26 million). Gingrich?s independent super PAC may have outspent Romney?s by roughly three-to-one ($22 million to $7 million). But Sheldon Adelson, the billionaire chairman and CEO of the Las Vegas Sands hotel and casino, whose extended family has given $11 million to Gingrich?s super PAC, has quietly given the Romney camp assurances that he?d be backing the former Massachusetts governor if he wins the nomination.

Gingrich has more Twitter followers than Romney. But at this point, the Intrade prediction market gives the former House Speaker only a 4 percent chance of winning the nomination, compared to 87 percent for Romney. Gingrich?s campaign remains roughly $600,000 in debt, reports the Washington Post, and he failed to win a place on the ballot for Virginia?s Super Tuesday primary election.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/LmL565cBTO4/What-would-it-take-for-Gingrich-Santorum-or-Paul-to-beat-Romney

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"Iron Lady" film draws sympathy for Thatcher in Argentina (Reuters)

BUENOS AIRES (Reuters) ? Long reviled in Argentina for leading Britain to war over the Falkland Islands, Margaret Thatcher's portrayal as a vulnerable, elderly woman suffering from dementia in new film "The Iron Lady" has won her newfound sympathy with Argentine moviegoers.

The Oscar-nominated film shows Thatcher, the 86-year-old former British prime minister, as a confused and lonely old woman remembering flashbacks of her divisive political career, and its release comes as diplomatic tensions over the Falklands are flaring anew.

"The image of the old woman makes me sad, it's an image of the tremendous solitude that comes with power," Alicia Fischer, a retired chemical industry worker said after seeing the film featuring Meryl Streep when it opened in Buenos Aires this weekend.

Argentina's invasion of the British territory on April 2, 1982, is seen by most people here as a terrible mistake by the discredited military dictatorship in power at the time, but they also believe that the islands are rightfully part of Argentina.

Fischer said she will always see Britain as the enemy, but her perception of Thatcher changed after the film.

"You have to put yourself in her shoes," Fischer said. "She did what she had to do for her country ... At any rate, it's not easy to be a stateswoman in a country like Britain."

Thatcher broke gender and class barriers in her rise from humble beginnings as a grocer's daughter to leader of Britain's Conservative Party and then prime minister.

British Prime Minister David Cameron praised Streep's acting but criticized the depiction of Thatcher as a frail, elderly woman and suggested the film should not have been made while she was still alive and suffering from dementia.

Gabriela Michetti, an Argentine opposition lawmaker, said the film humanizes Thatcher.

"It shows the contrast between her weakness and her firmness bordering on cruelty," Michetti said as the credits went up. "You can see her youth, how much she fought against obstacles in a man's world and as a grocer's daughter ... It's the first time I see her this way."

The audience at a packed Buenos Aires movie theater on Friday sat quietly transfixed by the film. The only murmurs came when Thatcher, in her trademark suit and power hairdo, orders the sinking of the battleship General Belgrano that killed 323 Argentine sailors in what was a turning point in the war.

Success on the Falklands battlefield boosted Thatcher's popularity, which had been dented by a recession, and contributed to her party's 1983 election victory.

To Ernesto Alonso, who was sent to fight in Las Malvinas, as they are known in Spanish, as a young conscript, the film is a must-see.

"She was the harshest symbol of the policies of the empire," Alonso said of Thatcher. "It's important to see the war through a movie and see what kind of legacy this kind of character leaves behind."

Tensions between Britain and Argentina have been stirred again in recent months by oil exploration in the Falklands. Britain's decision to send one of its most sophisticated warships to the islands has also reopened old wounds, though a new armed conflict seems unthinkable.

In a war of words, President Cristina Fernandez has described Britain as a "crass colonial power in decline" while Cameron has accused Argentina of colonialism and vowed to protect the islands.

As "The Iron Lady" opened in Argentine cinemas on Thursday, Britain's Prince William landed in the Falklands for a military tour of duty.

His posting as a search-and-rescue pilot has inflamed passions ahead of the 30th anniversary of the war, in which around 650 Argentine and 255 British troops were killed.

A youth group that sympathizes with Argentina's government burned the Union Jack in front of the British embassy on Thursday while others threw paint at the glass doors of a British-owned bank.

"Every war is a mistake," Melissa Coliva, 25, a clothes designer said as she walked out of a cinema in Buenos Aires. "As Thatcher said: 'The only battle worth fighting for is the one we fight every day of our lives'," Coliva said broadly quoting a scene from "The Iron Lady."

(Additional reporting by Hugh Bronstein. Editing by Simon Gardner and Kieran Murray)

Source: http://us.rd.yahoo.com/dailynews/rss/latam/*http%3A//news.yahoo.com/s/nm/20120204/wl_nm/us_km_argentina_falkands_thatcher

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Seeking the Best Anderson Bankruptcy Attorneys42010 - opunyaa's ...

There are many circumstances that can be responsible for filing personal bankruptcy; loss of employment, out of control expenditures, unexpected medical bills, or divorce. Filing for personal bankruptcy is always traumatic and an individual should never file as an easy way to get out of trouble. Before filing, other repayment options should be examined, like selling assets, including an extra home, boats, jewelry, etc. Consumer credit counseling is often another option, but if you realize you can't keep up with the payments, you should take action quickly. Ignoring the problem will only make it worse as creditors pile on late fees and take legal action to take your property and wages.

When a decision to file for bankruptcy is made, ensure that your home, furniture, and other essentials are protected. All your exempt assets can be kept. Work with experienced attorneys in order to achieve the best results. Look for Anderson bankruptcy attorneys who handle many such cases and have a well-managed system for forms and filing. Ask for a referral from an attorney you trust, or obtain a referral from friends or colleagues who have been through the personal bankruptcy process. Having a knowledgeable lawyer who you are comfortable with will make all the difference in the outcome of your case.

The decision to file for personal bankruptcy is a difficult one. Because of new laws and the differences between filing Chapter 7 and Chapter 13 bankruptcy, facing the process alone can be overwhelming. Obtaining the services of Anderson bankruptcy attorneys will ease the fairly complicated process of filing for personal bankruptcy.

You will need to gather your personal financial information, such as tax returns for the last two years, property deeds, car titles, loan papers, information on secured and unsecured loans, and pay stubs. Then begins the long process of filling out forms, or schedules, which detail your financial history for the last two years. After the petition is filed, your creditors will be contacted to inform them that you are filing for personal bankruptcy.

Once you have filed, your creditors are no longer allowed to contact you or to collect money from you. No more harassing creditor calls, credit card payments, lawsuits and foreclosures. As stressful as it may be to file for personal bankruptcy, in the end keep in mind that you will have a clean slate and a new beginning.

When faced with overwhelming debt and the possibility of bankruptcy, Anderson Bankruptcy Attorneys can help get your financial situation back under control.

This entry was posted on Wednesday, February 1st, 2012 at 11:15 pm and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Source: http://www.onlinearticlebank.co.uk/finance/personal-finance/seeking-the-best-anderson-bankruptcy-attorneys/

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Cutting Edge Local Business Marketing | Windows 8 2012

Massive Sales Results @ 1/2 the investment

www.melbourneseoservices.com One vital aspect of local business marketing involves using Google Places to keep clients informed on what?s going on. For a local business, as great as Twitter is, local business should go ahead and register their business on foursquare.com. This filters information straight out from your Facebook account, so it will surely pop out at the right person. The person who checks in the most at a particular business ends up becoming the Mayor of a particular business. Once you claim your listing, you can also offer discounts. This works very well if you are in local business such as night clubs or even local caf??s. Get the best local business marketing tactics at: www.melbourneseoservices.com

This entry was posted in Local Business Marketing and tagged Business, Cutting, Edge, Local, Marketing by JohnKrol. Bookmark the permalink.

Source: http://your-secret-wealth.info/?p=8803

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The 16-Year-Old Startup CEO And The Hong Kong Billionaire [TCTV]

We covered the launch of Summly an application that summarises text last year, but I recently caught up with Nick D'Aloisio, the16 year year-old programmer who came up with the application for a video interview.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/OgPENKGW3Ig/

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