Early Headlines: Hong Kong Rejects China Plan, Hungary's Migration Fence, Greece to Seek Russian Bailout, Walmart Has Tax Haven Billions and More

June 18th, 2015
in News, econ_news, syndication

Early Bird Headlines 18 June 2015

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.


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  • Several Dead Inside Charleston Church After Shooting, CNN Says (Bloomberg) A young, white male is sought in connection with a shooting at an historic black church in Charleston, SC. An unidentified official has told CNN that several are dead. The Guardian says 9 are dead and suspect still at large.
  • The Walmart Web: How the World’s Biggest Corporation Secretly Uses Tax Havens to Dodge Taxes (Americans for Tax Fairness) A groundbreaking report reveals that Walmart has built a vast, undisclosed network of 78 subsidiaries and branches in 15 overseas tax havens, which may be used to minimize foreign taxes where it has retail operations and to avoid U.S. tax on those foreign earnings. These secretive subsidiaries have never been subject to public scrutiny before. They have remained largely invisible, in part because Walmart fails to list them in its annual 10-K filings with the U.S. Securities and Exchange Commission (SEC). This article says that Walmart has $76 billion in assets in these tax havens.




  • Serbian PM 'shocked' at Hungary's plan for migrant fence (BBC News) Serbia's prime minister has said he is "shocked" by Hungary's plan to erect a border fence to keep out migrants. Aleksandar Vucic said the four-metre (13ft) fence was "not the solution" to migrants entering Hungary from Serbia. Hungarian authorities announced the plan on Wednesday, saying the wall would run the length of the 175km (109-mile) border between the countries.



  • Hong Kong Lawmakers Reject China’s Plan for Its Political Future (Bloomberg) The current government system will stay in place in Hong Kong. Pro-democracy lawmakers voted down the China-backed election plan for the city that set off almost three-months of protests last year that captured the world's attention. Twenty-eight lawmakers voted against the proposal in the legislature, denying Chief Executive Leung Chun-ying the two-thirds majority needed for its passage.



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