The Rich get Poorer?

    French President Francois Hollande is reviving calls for a 75 percent top income tax rate for the wealthy.    President Hollande altered his failed proposal for a 75 percent top tax rate this week to shift the burden of payment from individuals to companies that pay salaries over 1 million euros. ...

All Fun and Games Till Somebody gets Caught

  Federal investigators, on Friday, charged Michael Steinberg of SAC Capital with securities fraud to which he pleaded not guilty.    The high-ranking trader at SAC Capital—the powerful hedge fund run by multi-billionaire Steve Cohen is at the center of an insider trading investigation—was formally ...

Cyprus Banks Reopen with Harsh Cash Limits

  Banks in Cyprus reopened today for the first time in nearly two weeks. The reopening was met with strict limits on cash withdrawals as authorities are attempting to prevent a run on the island nation’s bank following a bailout by the European Union.  Cyprus became the first Eurozone nation since the currency was ...

S&P 500 Finally Hits New Record High

    After flirting with the milestone for the past few weeks, the S&P 500 finally topped its all-time closing high in morning trading today. The benchmark index climbed roughly 3 points to 1565.58, inching just beyond its record closing high of 1565.15 reached in October of 2007.    Despite the new ...

Ouch: Facebook’s Mark Zuckerberg Faces $1 Billion Tax Bill

  Facebook’s Initial Public Offering made founder Mark Zuckerberg a multi-billionaire; however, it also left him with a pretty hefty tax bill.    Facebook’s stock market debut left founder and CEO Mark Zuckerberg with a fortune valued at roughly $13 billion and a 2012 tax bill of around $1.1 billion ...

Terminated: Employees Fired over Fort Advertisement Featuring Tied-up Women

    The India-based advertising agency that created an ad showing three women tied up in the back of a Ford has fire several of the employees responsible for creating the images.    The cartoonish advertisement, produced by WPP unit JWT, were not officially part of a paid advertisement campaign; however ...

Going Green: Mercedes Unveils Tesla-Powered Electric Car

    Mercedes-Benz has unveiled a revolutionary electric car developed in partnership with Tesla Motors. The new electric car is a version of Mercedes’ B-class hatchback, which was just released in the United States last month.    The 2014 Mercedes B-class Electric Drive will be released first in ...

Going Rogue: T-Mobile Revolutionizes Cell Phone Pricing Model

  Long stuck in fourth place, T-Mobile sent shockwaves through the telecommunication industry with its plan to roll out its 4G LTE network and offer bargain plans with no contract requirements to entice potential customers.    In addition to the shift in pricing and contract requirements, T-Mobile also announced ...

Power Moves: Warren Buffet on Track to Become Top Goldman Shareholder

  Warren Buffet’s Berkshire Hathaway is set to become a long-term investor in Goldman Sachs, as Buffet is well on his way to becoming one of Goldman Sachs’ 10 largest shareholders.    Goldman announced on Tuesday that Buffet’s company Berkshire Hathaway would receive a large chunk of the investment ...

Starbuck’s CEO Doubles Down on Gay-Marriage Support

  Starbucks CEO Howard Schultz recently announced to shareholders that they should sell stake in the coffee-giant if they don’t appreciate or respect his strong support for gay marriage.    Howard Schultz, the outspoken CEO of coffee empire Starbucks firmly defended his company’s support of gay marriage ...

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