"CRIME
Organized crime has tightened its grip on the Italian economy since the economic crisis making the mafia the country's biggest "bank." Organized crime now generates an annual turnover of about US$179-billion and profits of $127-billion. Extortionate lending has become an increasingly lucrative source of income, alongside drug trafficking, arms smuggling, prostitution, gambling and racketeering. It is estimated that about 200,000 businesses are tied to extortionate lenders."
FEES
The European Commission plans to lower retailers' costs for accepting debit and credit cards in a renewed challenge to dominant players such as Visa and MasterCard. Bigger card companies generally charge retailers more for their fees which cover costs such as authorizations for transactions. The EU believes that lower fees will increase online commerce and it is consulting with the industry and vendors to establish how much the present fees should be lowered.
MALTA
This rocky, sun-drenched island in the middle of the Mediterranean Sea is cashing in on low taxes, cheap labour and an address inside the European Union to lure hedge funds. Only fund managers headquartered within the EU can market funds within the bloc. There were 500 hedge funds located on Malta at the end of 2011, compared to 165 in 2008. Malta has a population of just 414,000 and is concerned that it will have enough accountants and financial analysts to keep up with demand.
FINES
British universities have raised almost C$50-million from fining students for overdue library books in the past six years. With fines as little as 10 pence for each day a book is overdue, it shows that students are returning thousands of books late each year. More than 300,000 books remain unaccounted for. The University of Westminster does not fine students for returning books late. Instead, students are banned from using the library for the length of time that the books are overdue. Some universities bar students from graduating until they pay their fines.
LENDING
Over the past few years China's big banks have been criss-crossing the globe signing a plethora of billion dollar deals with some of the world's poorest countries. Last year, China provided more loans to the developing world than did the World Bank. As the lender to go to for credit-poor governments, China's yuan is replacing World Bank dollars as the cash behind new roads, power stations, hospitals and other infrastructure. In 2010, the World Bank agreed loans of US$11.4-billion to 36 African countries. China granted loan facilities of $13-billion just to Ghana.
PAWNBROKERS
The debt crisis in Europe is reverberating in an unlikely quarter. As credit tightens, formally wealthy Britons are turning to pawnbrokers. Diamond rings, Rolex watches, Fender electric guitars, Porches, even a Henry Moore sculpture are languishing at high-end pawnbrokers as business booms in the sector.
GOVERNMENT SPENDING
Ottawa's National Capital Commission installed seven new ice shacks along the Rideau Canal for skaters to lace up in. Each shack cost C$750,000. By comparison, the average house price in Ottawa is $360,000.
HISTORY
Last summer, archaeologists clearing the way for a new mining project in the Yukon unearthed a 17th-century Chinese coin providing further proof of a trade route hundreds of years old linking First Nations peoples with Chinese markets and seagoing Russian merchants. The coin was minted between 1667 and 1671, northwest of Beijing. This is the third coin found in the Yukon and were often sewn into armour worn by Tlingit warriors. Visiting Russian merchants offered First Nations traders such goods as tobacco, glass beads, tea, kettles and coins in exchange for sea otter, fox and beaver, furs that in turn appeared for sale in China.
http://www.aacb.com/publications/ed/index.asp
Organized crime has tightened its grip on the Italian economy since the economic crisis making the mafia the country's biggest "bank." Organized crime now generates an annual turnover of about US$179-billion and profits of $127-billion. Extortionate lending has become an increasingly lucrative source of income, alongside drug trafficking, arms smuggling, prostitution, gambling and racketeering. It is estimated that about 200,000 businesses are tied to extortionate lenders."
FEES
The European Commission plans to lower retailers' costs for accepting debit and credit cards in a renewed challenge to dominant players such as Visa and MasterCard. Bigger card companies generally charge retailers more for their fees which cover costs such as authorizations for transactions. The EU believes that lower fees will increase online commerce and it is consulting with the industry and vendors to establish how much the present fees should be lowered.
MALTA
This rocky, sun-drenched island in the middle of the Mediterranean Sea is cashing in on low taxes, cheap labour and an address inside the European Union to lure hedge funds. Only fund managers headquartered within the EU can market funds within the bloc. There were 500 hedge funds located on Malta at the end of 2011, compared to 165 in 2008. Malta has a population of just 414,000 and is concerned that it will have enough accountants and financial analysts to keep up with demand.
FINES
British universities have raised almost C$50-million from fining students for overdue library books in the past six years. With fines as little as 10 pence for each day a book is overdue, it shows that students are returning thousands of books late each year. More than 300,000 books remain unaccounted for. The University of Westminster does not fine students for returning books late. Instead, students are banned from using the library for the length of time that the books are overdue. Some universities bar students from graduating until they pay their fines.
LENDING
Over the past few years China's big banks have been criss-crossing the globe signing a plethora of billion dollar deals with some of the world's poorest countries. Last year, China provided more loans to the developing world than did the World Bank. As the lender to go to for credit-poor governments, China's yuan is replacing World Bank dollars as the cash behind new roads, power stations, hospitals and other infrastructure. In 2010, the World Bank agreed loans of US$11.4-billion to 36 African countries. China granted loan facilities of $13-billion just to Ghana.
PAWNBROKERS
The debt crisis in Europe is reverberating in an unlikely quarter. As credit tightens, formally wealthy Britons are turning to pawnbrokers. Diamond rings, Rolex watches, Fender electric guitars, Porches, even a Henry Moore sculpture are languishing at high-end pawnbrokers as business booms in the sector.
GOVERNMENT SPENDING
Ottawa's National Capital Commission installed seven new ice shacks along the Rideau Canal for skaters to lace up in. Each shack cost C$750,000. By comparison, the average house price in Ottawa is $360,000.
HISTORY
Last summer, archaeologists clearing the way for a new mining project in the Yukon unearthed a 17th-century Chinese coin providing further proof of a trade route hundreds of years old linking First Nations peoples with Chinese markets and seagoing Russian merchants. The coin was minted between 1667 and 1671, northwest of Beijing. This is the third coin found in the Yukon and were often sewn into armour worn by Tlingit warriors. Visiting Russian merchants offered First Nations traders such goods as tobacco, glass beads, tea, kettles and coins in exchange for sea otter, fox and beaver, furs that in turn appeared for sale in China.
http://www.aacb.com/publications/ed/index.asp
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