| Buffett, Sukup Differ On Estate Tax
Omahan and Berkshire Hathaway head Warren Buffett urged the Senate Finance Committee not to eliminate the estate tax. Buffett said that the money from the tax should be used to help close the gap between the super-rich and the middle class. Eugene G. Sukup, Chairman of the Board and founder of Sukup Manufacturing Co., in Sheffield, Iowa, said he wants the estate tax banished. .
Market Spotlight: Credit Card Securities
Despite a swoon in the asset-backed securities market, credit card-backed bonds are thriving, as issuers are able to break them up and sell only quality pieces. Asset-backed securities are bonds sold in parts to investors. Each is backed by a pool of different types of assets, ranging from subprime mortgages -- loans given to customers with poor credit history -- or student loans to credit card debt. Typically within each security, there are varying grades of assets rated from the highest of "AAA" down to "B" or lower. .
China is driving metal: Rio Tinto
Rio Tinto Plc sees surging economic growth in China driving global demand for metals and the big miner expects its $US38.1 billion ($A42.27 billion) takeover of aluminum producer Alcan Inc to help it profit from the trend. "We see the same demands trends in steel and in copper as we do in aluminum," Rio Tinto Chief Executive Tom Albanese told Reuters in an interview on Thursday. Rising standards of living in China and India and the countries' voracious appetite for metals are a key part of the rationale for Rio Tinto's acquisition of Montreal-based Alcan, Albanese said. Alcan joined Rio Tinto on Thursday as 79.4 per cent of its shares were tendered to the London-based miner's friendly $101 a share offer. Rio Tinto's bid was extended to November 8 to acquire the remaining Alcan shares.
How to stop restaurant tip fraud
If you pay your restaurant bills with with a credit card, there's a small chance a crooked waiter will jack up the tip by scribbling the amount you added. If you don't go over your receipts and compare them to your credit card statement each month, you'll never know if you've been a victim of this form of fraud.I know for a fact this has happened to me at least once. I had a meal at Mexicali Concina Cantina in Studio City, CA. I paid with a credit card and left a cash tip. When I got my credit card statement, I happened to have the receipt handy, and I discovered that I had been overcharged by exactly ten dollars.I called my credit card company, and they reversed the charge. Punny Money has a way to help you catch tip fraud without having to compare your receipts to your statements (you do need to save your receipts, though).You use a checksum method.
Police seek card-cloning suspect
Police in South Gloucestershire have released an image of a suspect in a card-cloning investigation. Officers have been viewing months of CCTV footage taken at a BP service station in Bath Road, Willsbridge. The investigation began last December when customers who had used their credit or debit cards at the garage complained of fraudulent transactions. Motorists found that their cards had been used in various countries including Canada, Egypt and Tunisia. Money withdrawn Police working with the Association of Payment and Clearing Services (APACS) found that more than 200 cards had been used abroad and tens of thousands of pounds had been withdrawn. Officers also recovered a laptop, card readers and till receipts from the garage which have been forensically analysed.
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