A week has passed since more than 17 million voters in Great Britain chose to leave the European Union, leading to confusion and plummeting stock markets throughout the world. And while the immediate economic fallout from the “Brexit” decision has tapered off in that time, political leaders as well as regular people still don’t know what will happen next. In fact, British citizens aren’t even sure who will be running their country in a few months. Prime Minister David Cameron Continue reading
Starbucks has long reigned as the king of coffee shops, providing millions throughout the world with their caffeine fix every day. But according to a new lawsuit, those who prefer a latte for their morning pick-me-up may want to take their business elsewhere. The complaint alleges that Starbucks’ latte recipe skimps on steamed milk, ultimately leaving customers with a drink that is smaller than advertised. Although the Seattle-based chain denies these claims, this week a federal judge upheld the suit Continue reading
Few legal procedures are more emotionally charged than divorce. Former couples often bring the worst out in one another as they contentiously divide their assets in the presence of lawyers. According to the startup Wevorce, however, ending a marriage shouldn’t place such a large strain on anyone’s finances or feelings. Instead, the company hopes to transform divorce from a drawn-out legal nightmare into a civil, streamlined division of property and possessions.
For those who have experienced the devastating effects of Continue reading
For the millions of Americans who struggle with debt, paying back the money they owe can become a life-consuming ordeal. These overstretched individuals either take years to settle with creditors or end up defaulting entirely. Since most lenders want to avoid the latter option, they sometimes opt to sell off delinquent debt to a third party for pennies on the dollar. For instance, a bank might sell off $100,000 of debt to another institution for just $1,000. While the lender Continue reading
Each year, millions of Americans use payday lenders to obtain what seem like quick and easy loans. Many borrowers simply need an advance on an upcoming paycheck, allowing them to settle their loan as soon as payday arrives. For those who don’t manage to repay on time, however, the situation can rapidly turn desperate. Along with a variety of fees, payday lenders often charge interest rates than can eventually top out in the triple digits. As a result, one small Continue reading
A few weeks ago, a team of investigative journalists detailed the tax-avoiding habits of numerous rich individuals and organizations in a massive data dump called the Panama Papers. The release of these documents inspired debates in the media about corporate tax avoidance and whether the government should put stronger regulations in place to prevent it. While some politicians tried to avoid these arguments, at least one has thrown himself into the fray as a strong advocate for closing tax Continue reading
In our previous post, we explored the new crop of startups that are applying Uber’s on-demand business model to other markets. Although these spinoff services aren’t nearly as successful as the original, a number of entrepreneurs remain convinced that they can develop an Uber for everything. We already took a look at the parking service Luxe and grocery delivery app Instacart, both fairly straightforward and simple adaptations of the concept. But startups like Filld and WeFuel take the idea Continue reading
A few years ago, we took a look at the confusing nature of “sell by” dates printed on food packaging. Many often assume that these numbers show when a particular item will spoil and thus become inedible. On the whole, however, sell by dates indicate when food starts to become less flavorful, not dangerous to eat. As a result, each year thousands of people as well as supermarkets toss tons of otherwise edible food into the trash.
While changing the Continue reading
Last week’s revelations surrounding the Panama Papers scandal set off a firestorm of debate about offshore tax avoidance. Media outlets across the globe exposed the names of many high profile clients of the offending law firm Mossack Fonseca, including soccer superstar Lionel Messi and several heads of state. As many in the U.S. pointed out, however, the Panamanian firm’s roster of shell company-seeking clients had a noticeable lack of Americans. According to some experts, this is due to lenient incorporation Continue reading
For decades some wealthy people and businesses have avoided paying taxes in their home countries by setting up “shell companies” in tropical locales like the Cayman Islands or the Bahamas. The lax tax rates of these nations allow individuals and organizations to quietly keep their money out of government coffers. In today’s digital age, however, it’s a lot harder to keep a secret than it used to be. Just ask the clients of the Panamanian law firm Mossack Fonseca, the Continue reading