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Posts tagged ‘Apple’

Apple tax loophole in Ireland

From  MarketWatch

Ireland’s finance minister, Michael Noonan,

housing-debt

 

 

Apple iPhone 5S vs LG Electornics G2 Battle for Investor’s Dollars

Facebook and Apple escape censure over ‘sending data to US’

DATA Protection Commissioner Billy Hawkes will take no action against the Irish-based subsidiaries of Facebook and Apple – who stand accused of handing over personal data of hundreds of millions of Europeans to national security organisations in the US via their parent companies.

The decision is set to cause ructions with other European countries, notably Germany, which has been infuriated over revelations that the US accesses the data of EU citizens.

Mr Hawkes (below) responded to complaints filed against the two multinationals by the Vienna-based organisation Europe v Facebook.

He said he cannot act on the basis of the precedent set by the European Commission‘s own ‘Safe Harbour’ decision brought in 13 years ago.

Under the Safe Harbour directive, American companies in Europe can only give data such as a person’s emails or phone call records to US authorities if the US fulfils a number of criteria such as protecting the information, and doesn’t pass it on to a third party.

Whistleblower

Last month, however, the whistleblower Edward Snowden revealed how US firms pass on user data to the American government as a matter of course. Those disclosures have raised doubts about whether the US fills those criteria.

Many of the companies that have passed data on to the US, such as Apple and Facebook, have their European headquarters in Ireland, so are regulated by Mr Hawkes and the DPC………………..

full article at source: http://www.independent.ie/irish-news/facebook-and-apple-escape-censure-over-sending-data-to-us-29449947.html

Comment:

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By Thomás Aengus O Cléirigh

This is total bullshit! Here we have american multi nationals who are paying next to no tax on their enormous profits here in Ireland  and are using questionable accountancy tactics that enable them to side step paying taxes in their own countries using their substantial mussel forcing the puppet Irish Goverement  to comply with their wishes .Personal information of citizens of this country is been sent to the USA  and this twit says he cannot do anything about it ??? what a cop-out! Multi Nationals are running rings around Irish Law

Government denies facilitating Apple tax avoidance

By Simon Carswell, Suzanne Lynch

The Government has denied claims in a US senate report that Ireland’s tax regime has allowed Apple to avoid paying billions of dollars in tax.

Speaking in Brussels this morning, Tánaiste Eamon Gilmore said that Ireland has a “very transparent tax regime.”

The issues raised in the US Senate report, including the claim that Apple used two Irish subsidiaries which are not tax-resident anywhere, are “not issues that arise from the Irish taxation system,” he said

“They’re issues that arise from the taxation system in other jurisdictions and that’s an issue that has to be addressed first of all in those jurisdictions.”

Mr Gilmore said that while the Government will look at the report, Ireland has a very transparent tax regime.

“Let’s be very clear about this, Ireland has a very strong, very transparent tax regime. There are problems in other jurisdictions, those problems are going to have to be addressed.

“Any loopholes have to be closed off, and we will work to have those closed off both at European Union level and through the work we are doing at the OECD.”…

full article at source:http://www.irishtimes.com/business/sectors/technology/government-denies-facilitating-apple-tax-avoidance-1.1400752

 

see also :http://www.irishexaminer.com/breakingnews/ireland/mep-paul-murphy-rips-up-property-tax-form-in-european-parliament-595072.html

 

 

Bad Prospects for Extension of Stock Market Rally

By Andre_Gratian

SPX: Very Long-term trend – The very-long-term cycles are down and, if   they make their lows when expected (after this bull market is over) there will   be another steep and prolonged decline into late 2014. It is probable, however,   that the steep correction of 2007-2009 will have curtailed the full downward   pressure potential of the 120-yr cycle.

SPX: Intermediate trend – SPX has made a triple top, which is a   bearish pattern. It has now given a strong indication that an intermediate   correction is underwayAnalysis of the short-term trendis done on a daily basis with the   help of hourly charts. It is an important adjunct to the analysis of daily and   weekly charts which discusses the course of longer market trends.Market Overview

After several days of resisting the downtrend, the indices finally started to   rally on October 26. The SPX tacked on 31 points from Wednesday’s 1403 low, but   met with heavy selling on the next day after nearing its top declining channel   line, and retraced .618 of its advance. The Dow and NDX suffered the same   fate.

I had warned that the SPX would reach a resistance level at the opening and   to expect at least a consolidation. However, what started as profit-taking   became more intense as the day progressed and, by the close, the index had lost   all of its previous day’s gain, and filling the gap which had been created on   Thursday. In the process it came to rest on the support level created by the   base which had formed prior to the rally. Now the question is whether this was   only a severe but normal correction of the uptrend which started at 1403, or if   the counter-trend rally is already over. With cycles expected to start making   their lows as early as next week, the uptrend does not have time on its   side.

There is also a matter of an unfilled P&Fcount to 1395 and Fib projection   to 1386. While (near-term) the election may play a role in the background   uncertainty and resulting volatility, we know that the odds favor a continued   decline of intermediate proportion into January 2013.

Because of its influence on the market (especially the NDX), AAPL has to be   considered a key — if not the most important — short-term indicator. On Friday   it made a new correction low, losing almost 20 points, and was definitely partly   responsible for the overall market weakness. There was relentless selling until,   by the close it had reached what could be an important Fibonacci projection.   That projection taken from the high of 705 has already proved its effectiveness   by producing several temporary holds on the way down: at 626, 613, at 591 – all   of them important Fib measurements………………………….

full article at source:  http://www.marketoracle.co.uk/Article37345.html

Facebook IPO Is Bubble Redux?

By Staff report

A global frenzy buzzes now like so many angry bumblebees. At any moment, a company started in a dormitory just eight years ago will sell promoted common shares to the investing public and become the hottest technology diva ever. Unusual animal movements have preceded extraordinary natural disasters—might they also mark onset of man-made financial mayhem? Hundreds of millions of us like using Facebook. At first blush the features and benefits seem a compelling bargain. But as far as investors in this offering are concerned, are valuation levels for Facebook’s Class A common shares supported by realistic hope or by artful hype? – Washington Times

Dominant Social Theme: Now that Facebook is worth US$ 100 billion, where’s the next hot deal?

Free-Market Analysis: Frankly, we’ve been surprised by the lack of articles doubting Facebook’s US$ 100 billion valuation.

This article in the Washington Times, written yesterday, is about the closest we could come, recently, in the mainstream media.

We’ve been frank about our perception of what Facebook is – a creation in part of American Intel, which evidently and obviously has a stake in utilizing the data that Facebook “mines.”

For this reason we have described Facebook as lacking a business model, which is odd for a company that was just valued at US$ 100 billion.

Where is this business model?

Google provides a service – a search algorithm. Microsoft provides computer software.  Apple provides innovative and beautiful software.

We had the same nagging skepticism when it came to Yahoo. One day, not so long ago, we realized that whatever Yahoo had been, it wasn’t that now. We couldn’t define, in fact ,what Yahoo was – and others seem to feel the same way. Yahoo is on a long skid down.

full article at source: http://www.thedailybell.com/3902/Facebook-IPO-Is-Bubble-Redux

Comment :

Personally I would wait for the dust to settle and then short this obvious vastly overpriced stock. Anybody investing in this Tripe should have their heads examined .

New Blog posting from David Mc Williams called The future: tax the rich

David mc Williams has a new posting

By David Mc Williams

The captain of the universe, known as Captain Copycat, runs an investment fund called Copycat Partners LLP, registered in the IFSC but run out of a swanky office in St James in London.He is having a taxing week.Copycat Partners’ investment strategy is to copy what the next lad does and thus make money.When the market is going up, Captain Copycat buys assets and rides the wave. Copycat’s behaviour obviously reinforces the upward market momentum.In contrast, when the market is going down Captain Copycat sells everything aggressively, using simple gambling tools known as ‘put options’.

This in turn pushes the market down further.

full article at source here:http://www.davidmcwilliams.ie/2011/08/22/the-future-tax-the-rich?utm_source=WebsiteSubscribers&utm_campaign=9ed9ed1084-Weekly_Roundup_10_August_2011&utm_medium=email

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