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Americans will spend 8.9 billion hours doing their taxes this year

Mario Tama / Staff / Getty ImagesAmericans will spend nearly 9 billion hours this year filling out paperwork for the IRS, according to a Tax Foundation report released last week. That’s more than 1 million years, or enough time to watch The Godfathertrilogy more than 900 million times. “For decades, the tax code has become more and more detailed, with thousands of additional pages of … [Read more...]

Sanders and Clinton delegates are struggling to afford attending the DNC

Reuters/Lucas JacksonDelegates saddled with thousands of dollars in expenses — from pricey hotels to time off work — to attend the Democratic National Convention in Philadelphia have now turned to crowdfunding sites to help pay their way. The estimated per-person cost for the four-day convention between 25-28 July ranges from $3,000 to $8,000, according to delegates pledged to the … [Read more...]

China is doing something no other country is, and it looks like it might finally come to an end

China Photos / Getty ImagesHalf of the world´s economies (emerging and the developed) are seeing a slowdown in their economic growth. This could potentially be a sign of a new global crisis. Are we at the doorstep of a new global recession? We have already reported in a previous article and in our reports that there exists little risk of a global recession. This time the analysis will take … [Read more...]

Hong Kong airlines are cracking down on shark fins

Reuters/Bobby YipHong Kong’s flagship airline has finally bowed to public pressure by slapping a blanket ban on shark fin being carried on any of its planes. But Cathay Pacific, the city’s biggest carrier, and its sister ­airline Dragonair have left the door open for a possible U-turn by saying the new policy will be ­subject to review. The move – which will take … [Read more...]

Venezuela’s opposition is one step closer to ousting Maduro

Thomson ReutersVenezuela's opposition appears significantly closer to forcing a recall referendum on President Nicolás Maduro, thanks to the long lines of sympathizers lining up this week to validate their support of the process. "We are going to complete the validation process and we are going to get a referendum this year," opposition leader and former presidential candidate Henrique … [Read more...]

George Soros thinks China will ‘land hard’ – here’s why he’s wrong

Reuters/Jorge SilvaAlthough a number of well-known hedge fund managers such as Kyle Bass and George Soros have publicly stated they believe some kind of a “hard landing” in China is coming, not everyone agrees. Mark Yusko of Morgan Creek Capital is not in the China “hard-landing” camp. He says while the Chinese economy is facing a number of headwinds and risks as it tries … [Read more...]

Racial profiling likely wouldn’t prevent another Orlando shooting

AP Photo/David BurnsAfter Omar Mateen’s attack in Orlando last week, Donald Trump revived a controversial proposal: profiling Muslim Americans to prevent terrorism. “I hate the concept of profiling, but we have to use common sense,” Mr. Trump said Sunday in an interview with CBS’ Face the Nation. “We’re not using common sense.” The debate over racial … [Read more...]

A Saudi royal might be buying the Plaza hotel for $352 million

Shutterstock/Sean PavoneCould the Plaza Hotel finally be getting a new owner? After a canceled foreclosure auction this spring, an unidentified member of the Saudi royal family and London-based investment firm 3 Associates are in talks to buy the iconic property for $352 million, the New York Post reported. The joint venture is also looking to buy London’s Grosvenor House for $882 … [Read more...]

Report: One of the NYPD’s main crime strategies is a big failure

Thomson ReutersMIDTOWN — Broken windows policing may be broken, according to a blistering new report by theOffice of Inspector General for the NYPD. A six-year analysis by the NYPD IG, which falls under the Department of Investigation, has found there’s no correlation between the number of quality-of-life summonses issued for offenses like public urination and alcohol consumption … [Read more...]

This yacht was built for a Russian billionaire and just broke a world record

156m Dilbar has now officially become the world's largest yacht by volume. This follows Lurssen confirming the yacht's gross tonnage of 15,917 tons. The yacht therefore tops Al Said's 15,850 tons and Azzam's 13,136 tons.  Yacht Harbour With a beam of 23 meters and a deep draft of 6 meters, the yacht's exterior was designed by Espen Oeino. Dilbar can cruise at a … [Read more...]

Paul Ryan calls Democrats’ gun control sit-in a ‘publicity stunt’

Thomson ReutersWASHINGTON (Reuters) - Democrats staged a "sit-in" on the floor of the U.S. House of Representatives on Wednesday demanding the chamber remain in session until the Republican leadership agrees to a vote on gun control legislation following the Orlando mass shooting. Chanting "No bill, no break!" scores of Democratic lawmakers joined in the protest. A similar action happened in … [Read more...]

Germany’s president isn’t going to serve a second term — and that could be bad news for Angela Merkel

REUTERS/Fabian BimmerBERLIN (Reuters) - German President Joachim Gauck said on Monday that he would not serve a second five-year term, a decision which could trigger a battle between the parties in Chancellor Angela Merkel's ruling coalition over who should succeed him. Although the position of president is largely ceremonial in Germany, the selection of the last two heads of state has caused … [Read more...]

Some British business owners are blaming red tape on London, not Brussels

Luke MacGregor / ReutersSITTINGBOURNE, England (Reuters) - Troy Barratt, a small business owner in this southeastern English town, has a list of labor, energy and safety regulations that add to the costs of his precision metal fabrication firm. But unlike opponents of Britain's membership in the European Union, he puts the blame on London rather than Brussels. "By far the biggest frustration I … [Read more...]

DIVIDED AUSTRIA: A country split over the resurgent far right

REUTERS/Leonhard Foeger VIENNA (Reuters) - When the far right took the lead in Austria's presidential election earlier this year, Viennese businessman Georg Demmer says he was so shocked that he got involved in national politics for the first time. Patiently and methodically he and a group of like-minded people worked their way from bar to bar, persuading and cajoling voters to cast their ballot … [Read more...]