The companies listed are known to be the subject of an ongoing and unresolved FCPA-related investigation.
“The LEI continues on a broad-based upward trend, suggesting gradually strengthening economic conditions through early 2014,” said Ataman Ozyildirim, Economist at The Conference Board. “Improving labor markets and new orders in manufacturing, combined with strong financial indicators, drove November’s gain. However, consumers’ outlook for the economy and the drop in housing permits continue to pose risks in 2014.”
Exempt International Transportation
The China Ministry of Finance (MOF) and the State Administration of Taxation (SAT) have jointly agreed to exempt international transportation from their recently implemented VAT regulations. The revised tax treatment is retroactive to August 1, 2013 when the nationwide regulations first came into effect. A joint circular (Caishui 2013 No 106) has been issued by the MOF and SAT explaining the exemption.
Please note the New York and New Jersey marine terminals will be closed Friday, January 3, 2014. A severe winter storm is expected in the northeastern USA and has the potential for dangerous working conditions.
A unit of Archer Daniels Midland Company (ADM) pleaded guilty Friday to violating the FCPA by bribing Ukrainian government officials through vendors in exchange for value-added tax (VAT) refunds.
“The modest rise in the Leading Economic Index in October follows the strong advances recorded in the prior two months, which helps lift the six-month annualized growth rate to 5.1 percent from 3.7 percent in the previous six months. The recent increase in the index supports our forecast that the U.S. economy is poised to grow somewhat faster at 2.3 in 2014 compared to 1.6 percent in 2013. Within the details, the sub-indexes contributing positively to growth are the financial, housing and manufacturing variables. Restraining growth is the ongoing caution of businesses that continue to keep tight reins on capital expenditures.”
Kansas-based Layne Christensen Company said last week it has increased its reserve for a potential FCPA settlement from $4.8 million to $10.4 million. That amount, the company said, represents the low end of the range for a possible settlement, which could also reach $16 million or more.
Overland Park, KS, December 12, 2013 – Transport Topics named MIQ Logistics to its 2013 list of top 50 logistics companies. TheTransport Topics Top 50 is an annual ranking by revenue of North American logistics companies. This marks the third consecutive year our three-year-old company has been included on the list.