Home Authors Posts by Clyde K. Valle

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

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Lewis Hamilton has won his second World Drivers’ Championship after the 2008 victory in the season-ending Abu Dhabi Grand Prix.

Lewis Hamilton, second in qualifying, took the lead at the start and controlled the race, as Mercedes team-mate and title rival Nico Rosberg suffered car trouble and finished 14th.

He joins a number of other drivers on two titles, including his great contemporary rival Fernando Alonso. Michael Schumacher is the all-time record holder with seven, while the most successful current driver is Sebastian Vettel on four.

Nico Rosberg, who started on pole, was left struggling by the failure of his hybrid system. With two laps to go, he was told to retire by his engineers at Mercedes but said: “I would like to go to the end.” Abu Dhabi Grand Prix 2014 Lewis Hamilton photo

As Lewis Hamilton crossed the line, Prince Harry, attending the race, took to the team radio to say: “Lewis, well done for not making the British public sweat. You are an absolute legend.”

Lewis Hamilton, 29, stood on his car to celebrate after he returned to the pits and then went over to embrace girlfriend Nicole Scherzinger and his family, who had flown in for the race day to support him.

His win was his 11th of the season, compared to Nico Rosberg’s five, and he finished 67 points clear at the top of the title standings.

It was the 33rd win of Lewis Hamilton’s career, moving him clear of his great rival Fernando Alonso into fifth in the all-time list.

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Delta Air Lines will replace its old Boeing planes with 50 Airbus wide-body jets powered by Rolls Royce engines.

The order, worth $14 billion, confirmed by Delta on November 20, is a victory for the European plane maker over its US rival’s Dreamliner 787.

It includes 25 Airbus A350-900 and 25 advanced Airbus A330-900neo aircraft.

Rolls Royce will provide Trent engines for both types of aircraft and long term servicing in a deal worth $5 billion.

The order is welcome news to Rolls Royce which has seen its share price fall by around a quarter since the beginning of the year following cut backs in military spending.

The company issued a profit warning in October and earlier this month announced 2,600 job losses as development work on two of its latest engines, the Trent 1000 and XWB, came to an end.Delta Airbus 640x425 photo

Airbus is reported to have won the contract after promising to deliver its latest A330neo in 2019, ahead of Boeing’s 787 Dreamliner.

The Dreamliner has been beset with problems, suffering several delays before its 2011 introduction and then being grounded due to battery fires last year.

However, by October 2014 Boeing said more than 1,000 Dreamliners had been ordered by 60 customers around the world.

The Delta deal is significant for Airbus and Rolls Royce because they hope other American legacy carriers will follow its example as they upgrade their ageing fuel-hungry fleets.

John Leahy, Airbus’ Chief Operating Officer said: “When the most successful US airline today … says <<yes we want 50 more of your wide body planes>>, you can’t debate the fact that it is a massive endorsement of your product line.”

The A350s will be delivered in Q2 2017 and will fly routes between the US and Asia. They are expected to give a 20% improvement in operating cost per seat over Delta’s existing aircraft.

The A330neos will fly medium-haul trans-Atlantic routes as well as some routes between the American west coast and Asia.

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Sotheby’s CEO William F. Ruprecht has announced his resignation after 14 years in the role.

William Ruprecht, 58, would leave his post by “mutual agreement” after a successor was found, Sotheby’s said on November 20.

His departure comes a year after activist investor Dan Loeb started demanding changes at the auction house.

Last week, chief competitor Christie’s significantly outsold Sotheby’s in contemporary art auctions in New York.

Rival Christie’s sold a record $852.9 million in works, compared to $343.7 million at Sotheby’s during flagship sales held every November.William Ruprecht Sothebys photo

“We are moving with a sense of urgency, but we will take the time we need to find the right leader for Sotheby’s at this critical juncture in its continuing evolution,” said director Domenico De Sole in a statement about William Ruprecht’s departure.

William Ruprecht started in Sotheby’s rug department in 1980 and rose up the ranks to become a director, president and chief executive in 2000. He was also elected to chairman of its board in 2012.

His management style, however, came under fire after investors began demanding changes such as the sale of Sotheby’s headquarters in Manhattan and moves to improve its balance sheet.

Billionaire investor Dan Loeb, who leads hedge fund Third Point which is the biggest shareholder in Sotheby’s, joined the company’s board in May.

Last year, Dan Loeb had demanded that William Ruprecht resign, describing the company as “an old master painting in desperate need of restoration”.

Sotheby’s New York listed shares were up over 7% in after hours trade after the announcement.

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Commerzbank has announced it will charge big corporate clients fees if they hold substantial deposits at the bank.

The German bank is the first major bank to make such a move and says it will encourage big clients to move cash into alternative investments.

Private savers and small and medium sized businesses will not be affected by the policy.Commerzbank to charge big clients 640x480 photo

In June the European Central Bank (ECB) said that banks would have to pay to park money at the central bank.

That negative interest rate was an effort to spur banks and other financial institutions to lend money rather than leave it on deposit.

In September it made holding money at the ECB even less attractive by cutting the rate on overnight deposits to minus 0.2%.

Commerzbank’s has become the first private bank to mirror that move.

“We reserve the right to charge some large corporates a fee on parked liquidity,” Commerzbank said in a statement.

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Wal-Mart announced that on November 21 they will match competitors select Black Friday deals one week early.

Some of the deals include 40-inch LED HDTV, 60-inch TVs from LG and Sony, PlayStation 4 offer and many more.  Wal-Mart will unveil the specific items and prices on Walmart.com this Thursday, November 20.

Walmart Black Friday Doorbuster Deals:

Element 50-inch 1080p 60Hz LED HDTV for $218.00

Vizio 65-inch 1080p 120Hz LED HDTV for $648.00

iPad Mini 16GB w/ Wi-Fi + $30 Walmart Gift Card for $199.00

XBox One Halo: The Master Chief Collection Bundle + $30 Walmart Gift Card for $329.00Walmart Black Friday 2014 photo

RCA 7-in Google Play Wi-Fi Tablet for $29.00

LG Blu-ray Disc Player for $35.00

Beats By Dr.Dre Wireless Headphones for $149.00

HP Intel Celeron 15.6-inch Touch Laptop for $249.00

Element 60-inch 1080p 120Hz LED HDTV for $498.00

Fitbit Flex Wristband for 69.00

HP 15.6-inch Intel Celeron 4GB RAM 500GB HDD for $159.00

Element 32-inch 720p 60Hz LED HDTV for $98.00

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Fédération Internationale de Football Association (FIFA) has submitted a criminal complaint to Switzerland’s attorney general after a two-year investigation into possible World Cup corruption.

The complaint concerns individuals linked to awarding the hosting rights for the 2018 and 2022 World Cups.

However, FIFA said the move does not impact negatively on the decision to name Russia and Qatar as hosts.

FIFA ethics judge Hans-Joachim Eckert maintains there is not enough evidence to question the entire bidding process.FIFA World Cup 2018 640x480 photo

Last week, Hans-Joachim Eckert released a 42-page report that cleared Russia and Qatar of wrongdoing, confirming their status as hosts of the 2018 and 2022 World Cups respectively.

That report drew criticism from Michael Garcia, the American lawyer who spent two years investigating allegations of corruption.

He claimed it contained “numerous materially incomplete and erroneous representations” and said he would be appealing to FIFA.

FIFA continues to reject calls for Michael Garcia’s full findings to be published.

“We have examined this matter very carefully from a legal point of view,” said FIFA president Sepp Blatter.

“The result was clear: If FIFA were to publish the report, we would be violating our own association law as well as state law.”

Indonesia has decided to increase fuel prices by more than 30% in an attempt to save the economy more than $8 billion in 2015.

Prices were raised by 2,000 rupiah ($0.16) per litre, with gasoline now costing 8,500 rupiah and diesel 7,500 rupiah.

The subsidized fuel prices in Indonesia are among the cheapest in the world.

The unpopular move sparked small protests and long queues at petrol stations in the capital, Jakarta.

Previous price increases have sparked violent protests and reports said young people had clashed with police at a demonstration hotspot before the announcement on November 17.Indonesia fuel prices 640x363 photo

New President Joko Widodo, who took office in October, said the increase would bolster government finances and help with the nation’s trade imbalance.

“The country has needed a budget for infrastructure, healthcare and education but instead spent it on subsidizing fuel,” Joko Widodo told reporters on November 17.

Indonesia’s $23 billion fuel subsidy bill is the main reason behind its budget deficit. It is also behind the nation’s trade imbalance as Indonesia imports much of its fuel.

The economy also grew at the slowest pace in five years in the third quarter at 5.01%, compared to a year ago.

The rise in fuel prices could push up inflation to 7.3% this year and the impact would last until next year, the government said.

Inflation jumped to nearly 10% in mid-2013 after fuel prices were increased.

Economists said the country’s central bank, Bank Indonesia, might need to increase interest rates this month to cope with the rising inflation.

Bank Indonesia has not changed the benchmark rate since November 2013.

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HSBC Private Bank’s Brussels branch is being accused of helping wealthy Belgians to avoid taxes.

Belgian prosecutors allege that hundreds of clients – including diamond dealers in Antwerp – moved money to offshore tax havens with the help of the bank.

They said it resulted in hundreds of millions of euros in lost tax revenue.

In August, HSBC warned that the penalties in relation to such allegations “could be significant”.

In a statement, Belgian authorities accused HSBC of “having knowingly eased and promoted fiscal fraud by making offshore companies available to certain privileged clients”.

These companies, which are based in Panama and the Virgin Islands, exist for the sole purpose of tax evasion, they added.HSBC Tax evasion photo

Over 1,000 taxpayers are alleged to have been involved in the fraud, which saw funds amounting to several billion dollars transferred out of Belgium since 2003.

Responding to the announcement by Belgian authorities, HSBC said it had been notified of the investigation, and of a similar investigation by French authorities, and that the bank would “continue to cooperate to the fullest extent possible”.

Banks operating in Switzerland are bound by the European Union Savings Directive to counter cross-border tax evasion, by collecting information on the savings income foreign residents receive outside their resident state.

Belgian authorities also published emails and other correspondence between HSBC and Belgian clients, which appear to show the bank offering tax evasion services.

Prosecutor Michel Claise accused HSBC of “fraud, money laundering, criminal association and illegal exercise of the profession of financial intermediary”.

In October, Belgian police raided the homes of approximately 20 people with private bank accounts at HSBC’s Swiss subsidiary, to gather evidence against the lender.

HSBC has been subject to a series of fines for misconduct in recent years, most recently in relation the manipulation of foreign currency exchange rates.

Japan’s economy, the world’s third largest, unexpectedly shrank for the second consecutive quarter in Q3 2014, leaving the country in technical recession.

Gross domestic product (GDP) fell at an annualized 1.6% from July to September, compared with forecasts of a 2.1% rise.

That followed a revised 7.3% contraction in Q2, which was the biggest fall since the March 2011 earthquake and tsunami.

Economists said the weak economic data could delay a sales tax rise.

PM Shinzo Abe is widely expected to call a snap election to seek a mandate to delay an increase in the sales tax to 10%, scheduled for 2015.

The tax increase was legislated by the previous government in 2012 to curb Japan’s huge public debt, which is the highest among developed nations.

April saw the first phase of the sales tax increase, from 5% to 8%, which hit growth in the second quarter and still appears to be having an impact on the economy.Japan Recession photo

The economy shrank 0.4% in the third quarter from the quarter previous.

The data also showed that growth in private consumption, which accounts for about 60% of the economy, was much weaker than expected.

The next tax rise had already been put in question by already weak economic indicators.

Speculation had been growing that the Japanese prime minister would call an election next month to gain support just two years after his election.

Local media are now reporting that Shinzo Abe could announce the next election as early as Tuesday to be held on December 14.

The Japanese government’s chief spokesperson Yoshihide Suga said on November 17 that Shinzo Abe was expected to decide on various steps to take amid the “severe economic situation”.

While Shinzo Abe’s popularity has fallen since he took office in 2012, he is expected to win if an election were called, because the opposition remains divided.

In reaction to the negative economic data, the dollar went above 117 Japanese yen before settling back at 115.69.

The benchmark Nikkei 225 index, meanwhile, closed down almost 3% to 16,973.80, marking its biggest one-day drop since August.

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Walmart employees pushing for higher wages announced on November 14 they were planning protests at 1,600 Walmart stores nationwide on Black Friday.

Black Friday is the biggest shopping day of the year in the United States.

The labor group, Our Walmart, said it had protested 1,200 to 1,400 Walmart stores last year on Black Friday, the day after the Thanksgiving holiday.

Wal-Mart Stores Inc, owner of Walmart brand stores, and the largest private employer in the United States, has been a target for activists in the contentious national debate over proposals to raise the minimum wage.

The announcement comes a day after police arrested 23 people outside a Los Angeles-area Walmart protesting what they say are the company’s low wages and its retaliation against employees who pushed for better working conditions.Black Friday Walmart 640x426 photo

The arrests on November 13 followed several hours of protest by a number of Walmart workers in California, according to Our Walmart and The United Food and Commercial Workers International Union, or UFCW.

About 30 workers entered a Walmart store in the Crenshaw neighborhood of Los Angeles on Thursday morning and held a sit-down protest for two hours, UFCW spokesman Marc Goumbri said.

The workers then protested at a Walmart store in Pico Rivera in eastern Los Angeles where the arrests eventually took place.

Wal-Mart Stores Inc Chief Executive Douglas McMillon last month said the company would work to phase out minimum wage jobs “over time”, a move seen as largely symbolic as just 6,000 of its 1.3 million U.S. workers make minimum wage.

The average full-time hourly wage at Walmart stores is $12.92, compared with the federal minimum wage of $7.25, according to the company.

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Virgin America airline shares surged more than 30% in the first day of trading on the NASDAQ stock exchange in New York.

Richard Branson owns nearly 25% of Virgin America, which is an offshoot of his London-based Virgin Group.

Virgin America started flying in 2007, and after several years of losing money, finally became profitable last year.

It reported profits of $10.2 million on revenue of $1.42 billion in 2013.

Virgin America sold 13.3 million shares that were initially priced at $23, raising about $307 million for the company.Virgin America Nasdaq 640x417 photo

The airline primarily operates long haul flights within the US, such as from New York to Los Angeles.

With a fleet of 53 planes within the US and Mexico, Virgin America is known for its flashy amenities, including mood lighting and wireless internet.

However, the airline offers fewer destinations than some of its competitors, and consequently carries only a fraction of the total passengers of rivals such as Southwest.

Overall, US airlines are flying high, as lower oil prices have recently led to an increase in profits.

The US recovery has also led consumers to purchase more airline tickets, keeping planes full.

One index of airline stocks hit a 13-year high recently, and analysts expect that upward flight path to continue.

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Alibaba will meet with investors next week as it considers issuing its first US bond sale.

The Chinese e-commerce giant has hired Morgan Stanley, Citigroup, Deutsche Bank and JP Morgan to manage the sale.

Alibaba would offer dollar-denominated notes to institutional investors, the company said in a statement.

Alibaba considers issuing first US bond sale 640x335 photo

Alibaba considers issuing first US bond sale

Reports suggest that Alibaba would sell $8 billion in bonds after its record public listing just two months ago.

News of Alibaba’s bond sale comes after it made $9 billion in sales on Singles’ Day in China this week, which is considered the world’s biggest online sales day.

In September, the company’s initial public offering in New York was the biggest in the world, raising $25 billion and its stock is up nearly 70% since then.

Alibaba will hold meetings next week in Boston, New York, Hong Kong, London and Singapore.

Moody’s has given the proposed bond an A1 credit rating.

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Oil industry giants, Halliburton and Baker Hughes, are in talks about a possible merger.

Baker Hughes, the industry’s third largest services provider, confirmed press reports, adding that the talks were “preliminary”.

Any deal with Halliburton, the sector’s No 2 behind the far larger Schlumberger, is likely to face competition issues.

The companies provide drilling and logistics services, but have been hit by falling oil prices and higher costs.Halliburton and Baker Hughes merger talks photo

The falling crude oil price has made exploration less economical and the big oil and gas producers have been cutting costs. A tie-up would allow the companies to better weather the downturn in the market.

A merged Halliburton-Baker Hughes would create a company worth about $67 billion, employing initially 140,000 people. But its market capitalization would still be half that of market leader Schlumberger.

Analysts said that antitrust authorities in the US, Europe and China would want to investigate the terms of any deal, and that a merged group might need to sell some assets before approval was given.

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Warren Buffett’s Berkshire Hathaway has announced it will acquire battery maker Duracell from Procter & Gamble.

Last month, Procter & Gamble had announced plans to spin off the battery business.

Berkshire will acquire Duracell via an unusual move, in which the company sells the $4.7 billion shares it owns in Procter & Gamble back to P&G.

That structure will reduce the overall tax bill Berkshire Hathaway must pay.

Also as part of the deal, Procter & Gamble will first invest $1.7 billion in Duracell in order to recapitalize the business.Warren Buffett buys Duracell 640x514 photo

Warren Buffett said in a statement: “I have always been impressed by Duracell, as a consumer and as a long-term investor in [Procter & Gamble] and Gillette.”

“Duracell is a leading global brand with top quality products, and it will fit well within Berkshire Hathaway.”

Procter & Gamble had acquired Duracell when it bought Gillette in 2005 for over $50 billion.

However, as the company has sought to focus more on growth, it has started to shed some underperforming aspects of its business.

Duracell leads the battery market with an estimated $2.2 billion in sales, but that figure has not been rising rapidly.

Warren Buffett had said over the summer he was looking for “elephants” – or big, brand name firms – to acquire.

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Brent crude oil price has fallen at a four-year low, from $3.60 or 4.4% to $77.52.

The benchmark US crude oil price is also at a four-year low, after losing $2.57 to close at $74.28.

The price has fallen sharply since the summer and is 30% below its June price.

The drop comes as traders believe members of the OPEC oil exporting countries, which control about 40% of world oil exports, will not cut production.

Brent crude oil price has fallen below 80 a barrel photo

Brent crude oil price has fallen below $80 a barrel

OPEC’s 12 member countries will meet later this month to discuss the global oil market.

Lower oil prices typically prompt OPEC nations, which include the biggest oil exporting nation in the world, Saudi Arabia, to rein back output in order to limit supply and boost prices and income.

Most need higher oil prices to fund rising government spending.

Recent comments by oil ministers from Saudi Arabia and Kuwait suggest the group is unlikely to agree to a cut.

The US energy department said this week that it expected low fuel prices to last into next year.

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Honda Motor Co has widened its recall for the defective airbags by another 170,000 vehicles globally, taking its total recalls to nearly 10 million vehicles fitted with potentially defective Takata airbag inflators since 2008, including US region-specific recalls.

The Japanese carmaker said on November 13 that a driver in Malaysia died in July after being hit by shrapnel from an airbag supplied by Takata Corp – the fifth such fatality and the first outside the United States.

Honda recalled nearly 10 million vehicles with potentially defective Takata airbag inflators since 2008 photo

Honda recalled nearly 10 million vehicles with potentially defective Takata airbag inflators since 2008

Before Thursday’s disclosure, Takata airbags had been linked to four deaths in Honda vehicles in the US. All the victims were hit by shrapnel ejected by the airbag.

Defective Takata airbags are the target of a US safety investigation over the risk they could explode with dangerous force in an accident and shoot metal shards into the vehicle. More than 17 million vehicles made by nearly a dozen different automakers have been recalled globally for flawed Takata airbags since 2008.

In the Malaysia accident on July 27, involving a 2003 Honda City model, the air bag inflator ruptured and sent shrapnel into the vehicle, some of which struck the female driver, Honda said.

Honda learned of the incident on August 27 and notified Japan’s transport ministry on September 10.

The newly elected president of the European Commission, Jean-Claude Juncker, has denied allegations he encouraged tax avoidance when he was Luxembourg’s prime minister.

Jean-Claude Juncker, 59, said there was “nothing in my past to indicate that I wanted to encourage tax evasion”.

He has come under pressure over claims that some 340 global companies were granted deals to help them avoid tax during his 18 years in office.

The Commission has begun an investigation.

Jean Claude Juncker has denied allegations he encouraged tax avoidance when he was Luxembourgs prime minister photo

Jean-Claude Juncker has denied allegations he encouraged tax avoidance when he was Luxembourg’s prime minister

Jean-Claude Juncker, 59, took over as president of the Commission at the start of November and was confronted within days with a report by investigative journalists that alleged that companies such as Pepsi and Ikea had made deals with his country’s government to save billions in tax in other countries.

Incumbent PM Xavier Bettel was quoted as saying all deals abided by international tax rules, although Jean-Claude Juncker made no comment at the time.

In an unexpected appearance before journalists on November 12, the Commission President repeated the message.

“Everything that has been done has been in compliance with national legislation and international rules that apply in this matter,” he said.

The 2015 Africa Cup of Nations finals will not take place in Morocco because of the country’s fears over the Ebola outbreak elsewhere on the continent, the Confederation of African Football (CAF) has confirmed.

The CAF expelled Morocco, which would have qualified as hosts, from the finals.

The confederation did not announce a new venue for the tournament, due to take place from January 17 to February 8.

New reports claim that three nations have expressed an interest and the new host will be confirmed on November 12.

Morocco had been given until November 8 to make a final decision on whether or not it would host the tournament.

The 2015 Africa Cup of Nations finals will not take place in Morocco because of the country’s fears over the Ebola outbreak photo

The 2015 Africa Cup of Nations finals will not take place in Morocco because of the country’s fears over the Ebola outbreak

The country had asked to postpone the competition until 2016.

Egypt has stated it will not host the tournament for “economic and political reasons”.

Qualification matches for the tournament will continue as planned on November 14 and 15 to decide which 15 teams will join the new host country for the finals.

Up to November 4, at least 4,960 people had been reported as having died from Ebola, mainly in the West African countries of Sierra Leone, Liberia and Guinea.

Morocco had expressed fears an influx of foreign fans could help spread the epidemic.

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The International Ski Federation (FIS) has banned violinist Vanessa-Mae from skiing for four years after results were manipulated to help her qualify for the Sochi Winter Olympics.

An FIS hearing panel found “violations” in the Thailand skier’s results at an event in Slovenia.

Vanessa-Mae, a 36-year-old British citizen, qualified days before the deadline after competing in the hastily-staged races in January.

Five officials involved in the event have also been banned by the FIS.

Vanessa Mae was born in Singapore to Thai and Chinese parents and moved to England at the age of 4 photo

Vanessa-Mae was born in Singapore to Thai and Chinese parents and moved to England at the age of 4

The competitions in Slovenia were organized at the request of the management of the skier, through the Thai Olympic Committee.

Competing as Vanessa Vanakorn, she went on to finish last of 67 competitors in the giant slalom at the Sochi Games, 50 seconds adrift of winner Tina Maze.

The FIS said in a statement: “The hearing panel found to its comfortable satisfaction that the results of the four ladies’ giant slalom races that took place on 18 and 19 January at Krvavec were manipulated.”

Vanessa-Mae was born in Singapore to Thai and Chinese parents and moved to England at the age of 4 after her mother married a British lawyer.

She earned fame as a violinist during her childhood with a series of performances on British television before going on to launch a successful solo career with album sales running into millions.

The International Olympic Committee said it would not be taking any follow-up action until the outcome of any appeal was known.

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Alibaba has sold $2 billion of goods in the first hour of China’s annual Singles’ Day (Guanggun Jie).

That compares with $3.1 billion in sales seen in the first half of last year’s event.

Singles’ Day is celebrated each year on November 11 (11/11). The date is chosen for the connection between singles and the number “1”. In recognition of the day, young singles organize parties and Karaoke to meet new friends or try their fortunes.

Singles’ Day is considered the world’s biggest online retail sales day. It compares with Cyber Monday in the US – the day after Thanksgiving also marketed as a big online shopping day.

Alibaba said it expected to break sales records during the annual event, offering big discounts to boost sales.

Singles Day is considered the worlds biggest online retail sales day 640x336 photo

Singles’ Day is considered the world’s biggest online retail sales day

“I bet the number [of goods bought] is going to be scary,” said Alibaba’s executive chairman Jack Ma last week. He estimated that 200 million packages would be shipped from orders made during the day.

Last year, Alibaba shipped more than 150 million packages worth about $5.75 billion in gross merchandise volume.

Before midday on November 11, sales had already hit $4.9 billion, Jack Ma told official state broadcaster CCTV.

Singles’ Day in China was adopted by Alibaba in 2009 to boost sales, but dates back to at least 1993, when students at Nanjing University are believed to have chosen the date as an anti-Valentine’s Day where single people could buy things for themselves.

Since then, it has gone on to become a massive day of sales for China’s fast growing e-commerce market.

The market is expected to grow at an annual rate of 25% over the next few years, from $390 billion in 2014 to $718 billion in 2017, according to a recent study released by management consulting firm AT Kearney.

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Continental Resources CEO Harold Hamm has been ordered to pay $995.5 million to his ex-wife Sue Ann Hamm in one of the largest-ever US divorce judgments, according to a court filing on November 10.

In an 80-page ruling following a more than 9-week divorce trial that ended last month, Oklahoma Special Judge Howard Haralson ruled that oil magnate Harold Hamm should pay his ex-wife a total of $995.5 million.

Although the award could make Sue Ann Hamm, 58, one of the 100 wealthiest women in the United States, according to Forbes‘ rankings, it is far smaller than the amount her lawyers sought and does not require Harold Hamm to sell shares of Continental.

Harold and Sue Ann Hamm wed in 1988 and had no prenuptial agreement photo

Harold and Sue Ann Hamm wed in 1988 and had no prenuptial agreement

Harold Hamm, 68, holds 68% of Continental, a stake worth nearly $14 billion.

The ruling is subject to appeal, but if accepted by both parties it would allow Continental’s CEO to put a contentious and time-consuming divorce behind him, without eroding his control of one of America’s most successful oil companies.

Following news of the judgment, Continental shares fell 1.6% to $54.22 per share. The shares have lost around 30% since July 1, in step with tumbling world oil prices.

Oklahoma-based Continental is a leading driller in the key Bakken Shale play of North Dakota and Montana, the largest US oil discovery in decades. Through his stake in Continental, Harold Hamm is believed to own more oil underground than any other American.

Harold and Sue Ann Hamm wed in 1988 and had no prenuptial agreement. For years, Sue Ann Hamm was also an executive at Continental.

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Orlando Thomas, ex-Minnesota Vikings safety, died on November 10 after a long battle with ALS at the age of 42.

Orlando Thomas was living in his native Crowley, Louisiana, just a half hour west of the University of Louisiana-Lafayette campus where he starred for four seasons before being selected by the Vikings in the second round of the 1995 NFL draft.

He spent all seven of his NFL seasons with the Vikings before retiring after the 2001 campaign at age 29.

Orlando Thomas was a key starter on the Minnesota teams of the late 1990s, including the 1998 group that went 15-1 in the regular season before losing to the Atlanta Falcons in the NFC Championship Game.

Orlando Thomas spent all seven of his NFL seasons with Minnesota Vikings before retiring after the 2001 campaign at age 29 photo

Orlando Thomas spent all seven of his NFL seasons with Minnesota Vikings before retiring after the 2001 campaign at age 29 (photo Jonathan Daniel/Allsport)

He led the league with nine interceptions as a rookie.

“The Vikings are deeply saddened by the loss of Orlando Thomas,” the team said in a statement on November 10.

“Orlando was an outstanding player for the Vikings for seven years, but more importantly, he represented the franchise and the state of Minnesota with the utmost dignity and class. While his outgoing personality made him a favorite among his teammates, Orlando’s involvement in the community made him a favorite outside of Winter Park.”

Orlando Thomas is one of several former NFL players affected by ALS, including ex-New Orleans Saints safety Steve Gleason, ex-Baltimore Ravens linebacker and current front office executive O.J. Brigance, ex-Oakland Raiders fullback Steve Smith and retired journeyman Tim Shaw.

The US unemployment rate has fallen to 5.8% after the economy added 214,000 jobs in October 2014, official Labor Department figures show.

The number of jobs created is slightly below forecasts of about 230,000 new posts, but still indicates a healthy US jobs market.

The figures are a significant gauge of the health of the economy.

US employers have added at least 200,000 jobs for nine months in a row, the longest growth period since 1995.

Jobs figures for August and September were also revised higher.

The US unemployment rate has fallen to 5.8 percent in October 2014 640x379 photo

The US unemployment rate has fallen to 5.8 percent in October 2014

The burst of hiring lowered the unemployment rate to 5.8% from 5.9%. That is the lowest rate since July 2008.

Shares in New York were down shortly after the start of trading. The Dow Jones was 0.28% lower at 17505.28.

The number of unemployed in the US has dropped to 8.995 million, below nine million for the first time in six years.

The work force participation rate, which counts those with jobs and those actively seeking jobs, was barely changed in October at 62.8%.

The financial crisis of 2008 has dented that rate, with some people simply giving up the search for work.

Although economic growth has picked up this year and job opportunities with it, this week’s mid-term elections revealed employment was voters’ top worry, suggesting many Americans have not yet felt any improvement.

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Home Depot says hackers who stole payment-card details of millions of customers also stole 53 million email addresses.

The retail giant said hackers accessed its network with a vendor’s username and password between April and September 2014.

The company had previously revealed that 56 million debit and credit card details were also stolen in the hack.

Analysts say it is one of the largest data breaches on record, surpassing a similar incident at retailer Target.

Home Depot says hackers who stole payment card details of millions of customers also stole 53 million email addresses photo

Home Depot says hackers who stole payment-card details of millions of customers also stole 53 million email addresses

Home Depot insisted on November 6 that the file containing the email addresses did not contain passwords or other sensitive personal information.

It also warned customers to be on guard against further phishing scams that might trick them into sharing personal information.

Customers that have been affected in the US and Canada will be notified and offered credit monitoring, the company added.

The latest update came just weeks after Home Depot disclosed the data breach, saying 56 million credit and debit card details were taken.

The company said it was still investigating the incident.

The incident follows a similar case involving Target, which was targeted by hackers in December 2013.

Target said payment and personal data from as many as 70 million customers was taken.

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It doesn’t matter if you own a business or work for someone else, paying taxes is an essential part of life. You cannot avoid paying taxes. Not paying your taxes can result in expensive fines or even jail time, which is why you want to make sure to follow all the laws and processes and file your taxes accurately and on time.

If you’re not an accountant, taxes can be a hard thing to understand. There are so many different rules regarding filing, and there are so many different credits you can claim depending on income, filing status, employment, etc.

Although learning everything about taxes may require you to take some classes or do a lot of research, there are basic questions and answers that most people have regarding their taxes that are answered below. The following are some of the most common tax payment questions and answers.

Q: I want to claim my child as a dependent. Is there an age limit?

Yes, there are certain requirements in place in order to claim your child as a dependent. First, your child must be younger than you. While this may sound silly, the law refers to stepchildren, adopted children and conservatorships.  Second, at the end of the calendar year, your child must be either younger than 19 years old or be enrolled as a student and younger than 24 years old.

Q: Who can I claim as a dependent?

Some people think that a dependent needs to be a child, but this is not true. You are allowed to claim a child or a relative as a dependent as long as they meet certain requirements that are related to relationship with you, residency, income, and financial support you have provided. Spouses can also qualify as dependents depending on the same requirements. Because the regulations are so in depth, it may be a smart decision to use an accountant or accounting package to process your taxes. These individuals or programs can help make filing taxes easier and explain all the items in more detail.

Q: Do I have to claim a child as a dependent in order to file as head of household?

In order to be considered a head of household, you must meet the following criteria:

  1. Be unmarried
  2. Have paid more than half of the cost of keeping up a home
  3. Have a qualifying dependent live in the home for at least half of the year

As for claiming a child, you do not have to claim a child as a dependent in order to file as head of household.

Q: What should I do if I made a mistake on my taxes that have already been filed?

Mistakes happen, and the IRS understands this. The IRS looks over the filed taxes before submitting refunds or other tax-related information. If the IRS catches your mistake, they will reach out to you with specific directions as to what you need to do in order to correct the mistake.

If the mistake is something you noticed that the IRS may not catch, such as forgetting to report all income, you will need to file an amended tax return. This is done by filling out Form 1040X, and you have up to three years to report an amended tax return. Amended tax returns are usually not processed as quickly as original taxes, so if your amendment will result in a refund, do not expect it to land in your bank account for at least two to three months.

Q: I have my own business. What can I deduct on my taxes?

There are many different items you can deduct for business on your taxes, including company vehicles, home office supplies, and even mortgage or rent payments. See a list of deductible home office expenses in order to receive a more detailed list.