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Record number of Americans living abroad renounce citizenship
A record number of Americans gave up their US citizenship in the first quarter of 2015, according to IRS data. This is blamed on the taxation of income earned outside the US, along with laws expanding offshore bank account and asset reporting.
A total of 1,335 people renounced US citizenship during the first three months of the year, topping the previous record by 18 percent, according to data compiled...
Japan child poverty rate hits record high
A boy sifting through floating garbage as he collects recyclable items to sell.
A new report shows that child poverty in Japan is at its highest level in the last three decades as critics rap Tokyo for failing to address the crisis.
The child poverty rate increased to over 16 percent in 2012, Japan’s Welfare Ministry said in a report published on Tuesday.
The figure marks the worst rate since the...
Canada lost 9400 jobs in June alone, unemployment rising
Canada’s unemployment rate has edged up to 7.1 percent as government data showed the economy unexpectedly shed thousands of jobs in June.
Canada’s jobless rate increased to 7.1 percent from 7.0 percent in May, marking the highest record in six months, Statistics Canada reported on Friday.
Economic growth also fell below expectations as the country shed some 9,400 jobs in June.
The total number...
Switzerland & Singapore banking havens replaced by Central Asia & Africa
With Switzerland and Singapore joining 47 countries that have agreed to share data and tax information, tax evaders are likely to move to what is currently considered emerging frontier markets, Mike Ingram, market strategist from BGC Partners, told RT.
On May 6, 34 members of the Organization for Economic Cooperation and Development (OECD) and 13 other countries signed a groundbreaking agreement on...
Israel approves detention without charges for illegal migrants
The Israeli parliament, Knesset, has approved a law allowing illegal African migrant workers living in the Occupied Palestinian Territories to be held without any charges.
Under the new legislation approved on Monday, illegal immigrants face up to 12 months in detention.
The law also gives Tel Aviv the right to send “illegal immigrants” to complexes called “open facilities” — until they...
Canada's unemployment rate hits 7.2 percent in July
Canada’s unemployment rate has climbed to 7.2 percent, with a record number of layoffs in the public sector, Press TV reports.
The Bank of Canada reported recently that the country’s economy lost 39,400 jobs in July, which pushed the jobless rate up 0.1 percentage points compared to the previous month.
The area, which suffered the largest loss was the public sector with 74,000 layoffs last month....
China introduces Execution for Environmental Offenders
China has introduced “harsher punishments” for breaking the nation’s environmental protection laws: reckless violators of pollution standards in the world’s biggest and fastest-growing economy now face execution.
A new judicial interpretation taking effect on Wednesday has tightened Chinese “lax and superficial” enforcement of environmental protection laws, Xinhua reported citing a government...
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