MONEY MATTERS

An international group of finance experts have criticised plans for bank taxes put forward by governments and the IMF in favour of reviving the idea of a “Tobin tax” on foreign exchange trades. The global tax could raise $33 billion to fund development projects and bring nations together in a single effort to combat poverty rather than create divisions through competing bank taxes. A tax on foreign exchange deals would cost an extra 0.005% on each trade and would best meet the criteria as the most appropriate source of revenue to fund public goods and share of wealth generated by globalised companies.

Critics of the G20 summit expect rich nations to reject a global tax in favour of individual nations adopting their own schemes. The U.K. government has agreed to apply a tax on bank profits and is considering a tax on bonuses if it reaches international agreement. The U.S. government has also come under acute pressure from Wall Street institutions to block further tax raising measures, including a levy on foreign currency trades. Under the latest proposals, the tax would be applied to deals in the four main currencies – the dollar, yen, euro and sterling – that are traded in foreign exchange markets. If the U.S. government opted out of the scheme the majority of tax revenue would be lost.

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It is a worrying news for the Obama government, as it heads towards November Congressional elections, that the total nonfarm payroll employment declined by 131,000 in July and the unemployment rate was unchanged at 9.5%, the Unite States Bureau of Labour Statistics (BLS) has reported. The BLS added that federal government employment dropped sharply, as 143,000 temporary workers recruited for the decennial census completed their work. Private sector payroll employment, crept up by 71,000.

After the Wall Street reform bill was passed last month, the White House has sought to bring job creation to the top of its agenda, but the July unemployment numbers suggested improvements in job market conditions had flatlined. The number of those jobless for 27 weeks and over was little changed at 6.6 million and the numbers of those employed part-time for economic reasons was essentially unchanged over the month at 8.5 million. Manufacturing employment was one of the few areas that showed an uptick, with job numbers increasing by 36,000 over July. There was more bad news for employment in financial activities, which continued to show a negative trend in July. Jobs in this sector declined by 17,000, bringing the average monthly job loss figure in the industry to 12,000. Employment in other private sector industries, including wholesale trade, retail trade, information, and leisure and hospitality showed little change in July.

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My best past time is online casinos. Gambling online is harmless and it is full of fun. I relax after a tiring day of work by playing online. There are many online casinos and I am very choosy in selecting the best casinos . I really have fun through this online gambling and I also feel safe.

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I along with my friend was to start a small business. We found that we have to advertise our business for the people to know about it. Today computers and internet have become a part of everybody’s life. So Internet Marketing Company is also catching up. All businesses need marketing to develop. Advertising through televisions, radios and boards are becoming costlier. So business men have found that internet marketing is better than other means of advertising and it is also cheap. There are many websites that help us to advertise our products. We have to find out the best website to market our business. The response for internet business marketing is also good. People are always searching the internet to find about a product and to get ideas about a new product. So we decided to advertise our product through the internet. The cost was also lower than advertising through boards and there was also good response. People are able to get a feedback on particular products. When people are satisfied with the product their review is good. But if they face some problem with the product or the company they discuss it without hesitation.

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The fears over the drought affecting Russia and Ukraine has made the prices of meat and poultry to rise, as the price of barley has more than doubled over the past six weeks. Russia is the second largest producer of barley and the crop is used by farmers as animal feed. Already the price of wheat has gone up by 50% in Russia. Wheat is the world’s most consumed cereal and the President of Russia, has already announced that there will be no more grain export.
Australia is the fourth largest exporter of wheat and there this year’s crop may be hit by dry weather in Western Australia, which accounts for 40% of exports. Prices have also been put under pressure by very wet weather in Canada at planting time, which reduced acreage. But speculators are blamed for the rise in price of wheat and barley. Russian wheat is mainly exported to West Asia, which has access to stocks from other areas, while strong harvests are expected in Europe and the U.S. As the traders are waiting for the reports on stocks and production, some speculators have cashed in their profits.

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The state and local governments are hit hard by the recession and are cash-strapped. They say that they have no other choice but to cut out the essential services that have been provided for generations. If their politicians are ready to increase the taxes there is no need for these basic infrastructures to be cut. Colorado Springs has made headlines with its desperate attempt to save money by turning off a third of its streetlights, in a number of states local governments are breaking up roads they can no longer afford to maintain, and returning them to gravel. A nation which was once among the first to provide basic education to all its children, is now cutting back. Teachers are being laid off and in Hawaii, the school year itself is shortened. The government blames the recession as the reason for all of this. But the federal government, which can sell inflation-protected long-term bonds at an interest rate of only 1.04%, is not cash-strapped. It could and should be offering aid to local governments, to protect the future of our infrastructure and our children.
A well educated population and high quality infrastructure are crucial for the economic growth of a country. Emerging nations are making great efforts to upgrade their roads and their ports and their schools but America is going back.

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Political uncertainties, currency fluctuations and economic recessions have made the going tough for most IT firms in the European markets. The second quarter ended June 2010 has been a drop of business for IT firms in Europe. Though the entire European economy is going slow, countries such as Germany and France have been showing an improvement. These two countries have been adding positive growth to the total GDP of Europe. However, uncertainties in certain countries like Portugal, Ireland, Greece and Spain will have some impact on Europe’s economy.
It is predicted by analysts that there will be a growth of 1 – 2% in Europe’s GDP in 2010. Most analysts hope that the IT sector will return to growth in 2010. The IDC predicts that the Western Europe external IT services market will grow to $204 billion in 2010 and further to $232 billion in 2011. The currency fluctuation and conversion have been important reasons for the Indian IT companies’ setback. With all the uncertainties, it is believed that in the medium-to-long-term, the European market can create lot of opportunities for Indian players. The players who are able to invest in European Union markets keep in mind the marginal and long-term growth factor that will benefit them.

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Mantle clocks are very useful in saving place, they occupy a small space and can be placed anywhere from tabletops to kitchen shelves. As I have a battery operated mantle clock which is very convenient to place on my work table, I decided to gift a mantle clocks to all my friends and customers for the New Year. A small mantle clock with my company logo became a piece of advertisement for my company and its product. People give many items like pens, pen stand, diaries or calendars for the New Year but my idea of gifting mantle clocks was different and it gained good response from customers. It was also not very costly as I bought the clocks during the sale and I was able to buy them for cheaper price. Mantle clocks are available in many designs and styles. There are antique mantle clocks, modern mantle clocks, the Howard Miller mantle clocks and desktop clocks. They are easy to handle and maintain, and a very attractive gift. People will never forget me and are reminded of my company whenever they look at the mantle clock.

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