China bars Glaxo finance chief from leaving

Continental Prison Systems Retains Finance 500 as Financial Advisors

View gallery FILE – This April 28, 2010 file photo shows the GlaxoSmithKline offices in London. Drug manufacturer GlaxoSmithKline, under investigation in China on suspicion its employees bribed doctors, said Thursday, July 18, 2013 its finance director for the country has been barred from leaving. The executive, Steve Nechelput, has not been questioned or arrested and is free to travel within China, the British company said in a statement. It said it had been aware of the travel restrictions since the end of June.

German finance minister says multinationals must pay fair taxes

( CPSZ ) – a payment processing technology company that specializes in the $500 billion government payment space, is pleased to announce that the company has retained Finance 500, Inc, a FINRA licensed broker-dealer and investment banking concern as a financial advisor. In this capacity, Finance 500 will advise Company management on financing structures and strategic initiatives with the goal of increasing shareholder value. The strategic initiatives include the effective engagement of a potentially broader institutional shareholder base, strategies intended to increase trading liquidity, evaluating various strategic capital markets initiatives and opportunities to pursue other trading markets for the Company’s stock. “After a lengthy vetting of multiple qualified financial firms we are confident that Finance 500 has the resources and relationships needed for Continental Prison Systems to take the next step in its corporate development,” stated Ron Hodge, CEO, Continental Prison Systems. “We are excited to include Continental Prison Systems, Inc.

Lew on Housing Finance, Economy, Budget, Regulation

Treasury Secretary Jacob J. Lew talks about this weekend’s meeting of Group of 20 finance ministers and central bankers in Moscow, the U.S. economy and housing finance. Lew also discusses financial regulation and the debt limit. He spoke yesterday with Peter Cook in an interview to be broadcast Sunday on Bloomberg Government’s “Capitol Gains” program.

Schaeuble told Reuters in an interview on Thursday an action plan to be presented to G20 finance ministers by the Organisation for Economic Co-operation and Development would set clear and ambitious targets on tax evasion. “Multinational companies, too, must pay adequate taxes, and they must do so where they are economically active,” Schaeuble said in the interview, conducted by email. “The OECD action plan as it is on the table in Moscow now is a milestone in this respect.” A preliminary draft of the OECD’s plan, seen by Reuters, showed the organisation had already identified a number of specific profit-shifting schemes and aimed for agreement on specific changes to international tax rules in one to two years. Corporate taxation has become a hot political topic since media reports highlighting how multinationals reduce their tax bills struck a nerve with voters themselves increasingly pinched by higher taxes. “I believe that by now there is broad international consensus that states should not aggressively compete for each other’s tax bases.

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