Miners of peer-to-peer decentralized digital currencies, like bitcoin and litecoin, will be subjected to a 23 percent value-added tax (VAT) in the Eastern European nation of Poland if they wish to continue to sell these virtual currencies. The announcement came after a bitcoin … [Read more...]
Bitcoin’s $1,200 value allegedly manipulated by ‘Willy’ the bot
Late last year, bitcoin was dominating headlines when its price was soaring from just $13 in January to as high as $1,200 by the end of the year. This was a massive emergence for the peer-to-peer decentralized virtual currency and many had speculated it had to do with the Chinese … [Read more...]
AOL to invest up to $1 million in Israeli startups
AOL is moving ahead with its new project called Nautilus, an initiative that would see the Internet company invest up to $1 million in Israeli startups. AOL noted that it would invest at least $100,000 in as many as 10 projects at a time. With a development center in the Middle … [Read more...]
Report: Financial planning degree programs popular at universities
With Baby Boomers on the verge of retiring en masse and the financial situations of millions of Americans in question because of the financial crisis a few years ago, there is one field of study that is becoming increasingly popular: financial planning. It was reported by CNBC last … [Read more...]
Canadian inflation rate jumps 2% amid higher energy prices
Canadians will experience a higher cost of living this year as the inflation rate increased to a two-year high of two percent, according to a report released last Friday by Statistics Canada. The federal agency reported the Consumer Price Index (CPI) increased 1.5 percent from the … [Read more...]
300 American Fortune 500 corporations holding $2 trillion offshore
Citizens for Tax Justice (CTJ) published a report earlier this week entitled "Dozens of Companies Admit Using Tax Havens: Hundreds More Likely Do the Same, Avoiding $550 Billion in Taxes" that highlighted how 301 American Fortune 500 corporations are holding more than $2 trillion … [Read more...]
IRS discovers 318,000 fed workers, retirees owe $3.3 billion in back taxes
The Internal Revenue Service (IRS) announced last Thursday that more than 318,000 federal workers and retirees owe more than $3.3 billion in back taxes to the federal government, a 2.6 percent jump from the previous year. This accounts to about 3.3 percent of the overall 9.8 million … [Read more...]
Fake malware U.S. government bitcoin ban report hitting social media
For months now, there have been reports that various United States government departments and agencies are considering adopting regulations pertaining to the peer-to-peer decentralized digital currency bitcoin. Nothing has come to fruition yet, except for a ruling by the Federal … [Read more...]
Bank of England’s Mark Carney warns insurers ‘not too big to fail’
Great Britain’s insurers are under the same level of scrutiny by government and central bank officials and top executives would still be held accountable in the same way as the nation’s major financial institutions in event of a catastrophe, said Bank of England Governor Mark Carney … [Read more...]
Edmonton confident in concrete pipes made in China
Officials in the city of Edmonton are defending a decision they made to award a contract for concrete sewer pipes that will be produced in China. The Shanghai Construction Group’s (SCG) Canadian branch was given the $11 million contract, but many are not too pleased with the latest … [Read more...]
One-third of Americans have overdraft, nearly half carry credit card debt
Despite the number of households and consumers trying to lower their various debt burdens, credit card debt remains to be a prevalent issue across the United States today. The latest findings could prove to be more troublesome for a growing number of Americans, who have on average … [Read more...]
Report: Financial planning degree programs popular at universities
With Baby Boomers on the verge of retiring en masse and the financial situations of millions of Americans in question because of the financial crisis a few years ago, there is one field of study that is becoming increasingly popular: financial planning. It was reported by CNBC on … [Read more...]
California Lt. Gov. now accepting bitcoins for election campaign
We reported earlier this month that the Federal Election Commission (FEC) announced that political candidates were permitted to accept a maximum of $100 worth of campaign contributions in bitcoin. Prior to the decision, it was still unknown what the federal regulations were in … [Read more...]
eBay urging customers to change their passwords after hacking attack
The online auction website eBay is urging customers to reset and change their passwords after cyber criminals hacked into eBay and stole a database of client information, including customer names, account passwords, email address, birth dates, physical addresses and telephone … [Read more...]
Former head of FDIC says Timothy Geithner has it wrong
Last week, we reported that former United States Treasury Secretary Timothy Geithner published an op-ed piece in the Wall Street Journal and appeared on MSNBC defending the Bush and Obama administrations’ bailouts of the financial industry. He presented the case that it was a … [Read more...]
Julian Assange: ‘Bitcoin is the most intellectually interesting development in the last two years’
Julian Assange, the founder of Wikileaks who leaked damning government documents over the past few years, spoke through a WeChat Livestream at the Net Prophet technology conference Tuesday. He delved into a number of topics, including the peer-to-peer decentralized virtual currency … [Read more...]
Cable prices outpacing inflation; basic cable rose 6.5% last year
Is it time to put down the remote and cut the cord? If cable prices continue to rise exponentially then that could be the trend among households in financial disarray in the future that can’t afford a luxury like cable television. The Federal Communications Commission (FCC) … [Read more...]
Federal Reserve mulling bitcoin regulations in new document
The Federal Advisory Council (FAC), an adviser to the Board of Governors of the Federal Reserve System, has published a new document (PDF) that entails bitcoin. Many in the bitcoin community are speculating that this is the first step by the central bank to mull over imposing … [Read more...]
Is the euro superior to bitcoin – one ECB executive thinks so
The rise of the digital currency industry can be attributed to citizens and consumers’ lack of faith and trust in the United States dollar, the euro and other well-known securities. Besides not being backed by anything, central banks have been printing exorbitant sums of money since … [Read more...]
U.S. Senate Report: Online advertising hurts security, privacy
The United States Senate published a report Friday entitled "Online Advertising and Hidden Hazards to Consumer Security and Data Privacy." It urged the Federal Trade Commission (FTC) to prompt the online advertising industry to enforce strict protections through regulation because … [Read more...]
