Ten years after the financial crash
By Barry Grey, 19 September 2018
The average pay of Wall Street traders and brokers rose to $422,500.
As National Football League season opens
By Alan Gilman, 10 September 2018
The National Football League season has opened against the backdrop of Colin Kaepernick becoming the face of Nike’s new “Just Do It” campaign and a ruling allowing his collusion lawsuit against the NFL to go forward.
By E.P. Milligan, 7 September 2018
Amazon’s soaring profits, like those of Apple, are the direct result of the brutal exploitation of its workforce.
By Trévon Austin, 30 August 2018
Banks and corporations are channeling the bulk of their savings from the tax cuts into stock buybacks, dividend increases and mergers and acquisitions.
As US workers’ wages continue to fall
By Niles Niemuth, 31 July 2018
By the end of the year, American corporations will have enriched their top executives and investors with $2.5 trillion obtained through stock buybacks, increased dividend payments, and mergers and acquisitions.
By Shannon Jones, 27 July 2018
The revelation that the just-retired UAW president authorized the illegal use of money from company-funded joint training centers demonstrates that the organization is engaged in a criminal conspiracy against auto workers.
Seven months after Trump’s tax cut
By Gabriel Black, 26 July 2018
The trillions in deficits created by the tax cuts for the rich will be used to justify further slashes to critical social programs that millions of Americans rely on.
By Shannon Jones, 25 July 2018
Nancy Johnson pleaded guilty to charges related to the illegal payout of more than $1.5 million by Fiat Chrysler aimed at securing favorable contract terms from the United Auto Workers.
By Shelley Connor, 4 July 2018
The Trump administration’s detention of hundreds of thousands of migrants has been a windfall for private prison companies.
By Will Morrow, 27 June 2018
The Washington Post described the meeting as a “new overture by the technology industry to develop closer ties to law enforcement.”
By Barry Grey, 13 June 2018
Coming just one day after the termination of net neutrality, the federal court ruling sets the stage for the further consolidation of monopoly control and suppression of oppositional points of view.
By Will Morrow, 30 May 2018
The technology giant that secures the contract will administer the US military’s global operations.
By Jerry White, 28 May 2018
Another former Fiat Chrysler executive pleads guilty in the corruption scandal engulfing the United Auto Workers union.
By Brian Dixon, 10 May 2018
The drug company heads shed crocodile tears over the opioid epidemic they helped create, including by shipping large numbers of opioids to pill mills in West Virginia.
By Marcus Day, 27 April 2018
Ford, GM, and Fiat Chrysler continue to restructure their operations at the expense of workers in response to Wall Street’s relentless demands to cut costs and boost profits.
By Stephen Alexander, 12 March 2018
An estimated 40,000 premature deaths occur in the UK every year due to air pollution, amounting to a staggering £20 billion in public health costs.
By Gabriel Black, 6 March 2018
Catalyst Capital predicts that 2018 will be the biggest stock buyback year on record, with corporations spending $1.2 trillion to push up their share values.
By Brian Dixon, 27 February 2018
The manufacturers of five major opioid products donated nearly $9 million to 14 supposedly independent patient advocacy organizations between 2000 and 2017.
By Shannon Jones, 18 January 2018
The wife of a deceased UAW official and a Fiat Chrysler executive are expected to plead guilty to charges they took part in a scheme to siphon off millions from the UAW-Chrysler Joint Training Center.
By Clement Daly, 21 December 2017
The former Massey Coal CEO, convicted and jailed in connection with the 2010 Upper Big Branch mine disaster, has announced his bid for Democrat Joe Manchin’s Senate seat.
By Shannon Jones, 15 December 2017
The ongoing federal corruption investigation and growing worker anger and militancy are fueling an apparent crisis in the top echelons of the United Auto Workers union.
By Gabriel Black, 7 December 2017
The merger would create a level of vertical integration unprecedented in US health care, while netting Aetna’s outgoing CEO half a billion dollars.
By Genevieve Leigh, 28 November 2017
As the Trump administration strips media regulation and antitrust laws, media conglomerates are planning even further consolidation.
By Jessica Goldstein, 21 November 2017
A lawsuit brought by students at the University of Chicago charges US Steel with dumping chromium into Lake Michigan, following a spill which dumped hundreds of pounds of a toxic compound.
By Gabriel Black, 10 November 2017
The latest leaks confirm that the largest companies in the world, and the ultra-wealthy that run them, use their power and wealth to park trillions of dollars offshore to avoid taxation.
By Margot Miller, 24 October 2017
While profits soar to exponential heights, corporations engage in myriad complex scams to evade paying even the minimal and ever decreasing corporate taxes levied by governments.
“Every contract we wonder how we are going to get shafted”
By Shannon Jones, 29 July 2017
A federal indictment Wednesday charged that a former vice president at Fiat Chrysler funneled more than $1 million in bribes to a UAW vice president between 2009 and 2014.
By Jerry White, 27 July 2017
A federal indictment filed in US District Court in Detroit Wednesday charges that a former vice president of Fiat Chrysler funneled more than a million dollars in bribes to United Auto Workers Vice President General Holiefield between 2009 and 2014.
By Janet Browning, 22 July 2017
Underscoring the Alberta NDP government’s fealty to Big Oil and the financial elite, Premier Rachel Notley has vowed to dramatically increase the transport of untreated bitumen to tidewater.
By Jean Shaoul, 1 July 2017
The prosecution has nothing to do with the criminal and reckless banking behaviour that precipitated the crash, but instead relates to Barclays’ rescue
By Ulrich Rippert, 30 June 2017
Just days prior to the G20 summit in Hamburg, the EU Commission imposed a record fine on US internet firm Google.
By Gabriel Black, 5 June 2017
A new report by economist Gabriel Zucman argues that global inequality is significantly worse than shown in official estimates because of rampant tax evasion by the financial elite.
By Brad Dixon, 2 June 2017
The rise in drug prices is 318 percent higher than the rise in the costs of goods due to inflation, according to a report by health care technology company Truveris.
By Shelley Connor, 26 May 2017
On May 23, research group Equilar revealed that CEO compensation rose by 8.5 percent in 2016, at more than twice the rate of workers’ pay in the same period
By John Marion, 25 May 2017
A new report documents that among the Fortune 500 companies which were profitable in 2014, the average effective tax rate levied by all 50 states was only three percent.
By Shelley Connor, 17 May 2017
The wealthiest 25 managers earned $11 billion last year while hedge funds yielded meager returns for investors.
By Samuel Davidson, 13 May 2017
Don Blankenship is free after one-year in prison over the deaths of 29 coal miners in an explosion at the Upper Big Branch mine in 2010.
By Eric London, 9 May 2017
Information provided to the World Socialist Web Site shows a UAW conspiracy to silence autoworkers with evidence that the UAW committed election fraud to pass the 2015 Ford contract.
By Barry Grey, 28 April 2017
With the people of America and the world facing ever worsening social conditions and the looming threat of world war, the top priority of the US political establishment is to hand over trillions more to the financial elite.
By Eric London, 12 April 2017
The beating of the 69-year-old doctor is a brutal outcome of decades of deregulation, monopolization and financialization in the airline industry.
By Jeff Lusanne, 10 March 2017
Shareholders have agree to pay Hunter Harrison riches in return for increased profits through deep cuts to staffing, working conditions and infrastructure.
By Marianne Arens, 6 March 2017
The proposed restructuring of the auto industry threatens many thousands of jobs and several plants.
By Alexander Fangmann and Owen Green, 14 February 2017
Caterpillar’s decision to move its headquarters to Chicago will contribute to the further economic decline of Peoria.
By Clement Daly, 7 February 2017
Former Massey Energy CEO Don Blankenship, who oversaw the Upper Big Branch mine where 29 West Virginia miners were killed in 2010, failed to overturn his conviction
By Jerry White, 3 February 2017
The public relations exercise was a further demonstration of the complete prostration of American unions to the corporations and the government.
By Simon Whelan, 30 January 2017
Rolls-Royce ultimately got the exceptionally lenient treatment from the British state that they had lobbied long and hard to gain.
Oxfam issues report on eve of Davos conference
By Nick Beams, 17 January 2017
The report, released as the world’s billionaires converge on Davos, Switzerland, reveals that global inequality is even more pronounced than previously recognized.
By Debra Watson and Zac Corrigan, 13 January 2017
State officials used aggressive collection measures to force tens of thousands of unemployed workers to pay back benefits based on false accusations of fraud.
By Chris Marsden, 21 December 2016
The Fine Gael government opposes demands by the European Union that the American technology giant pay $13 billion in back taxes.
By Tom Carter, 17 October 2016
Hillary Clinton’s lavishly paid speeches to gatherings of Wall Street multi-millionaires reveal why she is the favored candidate of the corporate and financial elite.
By Tom Eley, 15 October 2016
The email listing Citigroup’s personnel choices for cabinet posts came three days after the $700 billion Troubled Asset Relief Program (TARP) was signed into law.
By Gabriel Black, 11 October 2016
The $100 million allocated by the Ford Foundation is an acknowledgment by a powerful section of the ruling class that the aims of the Black Lives Matter movement are aligned with its interests.
By Barry Grey, 7 October 2016
The same politicians who say “there is no money” for jobs, schools, health care, pensions or housing, oversee the corporate theft of hundreds of billions in taxes.
By Steve James, 5 September 2016
Ireland, a centre for tax dodging by leading US-based transnational corporations, is uniquely vulnerable to the deepening divisions between the US and the European Union.
By Robert Stevens, 1 September 2016
The EU’s decision to fine Apple for failing to pay taxes has triggered a major crisis in Irish ruling circles.
By Gabriel Black, 25 August 2016
The former vice-president accused the SEC of not prosecuting leading bank officials because of the incestuous relationship between the bank and the ostensible watchdog.
By Evan Blake, 11 August 2016
A set of emails released Tuesday highlights the influence of the Clinton Foundation during Hillary Clinton's tenure as secretary of state.
By Usman Khan, 18 June 2016
A recent report by the Global Slavery Index documenting that millions are living in conditions of modern slavery stands as an indictment of the capitalist system.
By Josh Varlin, 8 June 2016
The law firm Mossack Fonseca, the subject of the Panama Papers leak, helped wealthy US clients avoid taxes through private foundations, bogus charities and shell companies.
By Tom Peters and Sam Price, 19 May 2016
Panama law firm Mossack Fonseca promoted New Zealand to its wealthy clients, including some allegedly involved in illegal activity and one who assisted in the looting of Iraq.
By Shannon Jones, 22 April 2016
The profit figures underscore the value of the 2015 GM-UAW contract to the giant automaker and its wealthiest investors, including the United Auto Workers bureaucracy.
By Dietmar Henning, 18 April 2016
The granting of bonuses to executives at VW illustrates how management is reacting to the exhaust emissions scandal, which has resulted in losses and potential fines.
By John Braddock, 15 April 2016
Successive Labour and National governments are responsible for New Zealand laws that allow foreign trusts to carry out massive tax avoidance.
By Chris Marsden, 11 April 2016
Britain stands at the epicentre of an international web of corruption serving the interests of a financial oligarchy that rules the entire planet.
By Mike Head, 11 April 2016
Australia’s corporate elite is heavily involved in using offshore shell companies to minimise taxes and avoid scrutiny of their business operations.
By Jordan Shilton, 7 April 2016
As pressure builds on Britain’s Conservative government over the tax arrangements of Prime Minister David Cameron, it is becoming clear that the Panama Papers are merely the tip of the iceberg.
By Jordan Shilton, 7 April 2016
Iceland’s Prime Minister Sigmundur David Gunnlaugsson announced his resignation Tuesday, before subsequently declaring that he had merely stepped aside temporarily.
By Peter Symonds, 7 April 2016
Family members of current and former Chinese leaders, including President Xi Jinping, have set up offshore companies in tax havens such as the British Virgin Islands.
By Clement Daly, 7 April 2016
Former Massey Energy CEO Don Blankenship was sentenced yesterday to one year in prison and a $250,000 fine for conspiring to willfully violate federal mine health and safety laws.
By Andre Damon, 6 April 2016
The publication of the “Panama Papers” has exposed the criminality that pervades the financial elite and its political representatives.
UK central to global tax avoidance
By Chris Marsden, 6 April 2016
The leaked Panama Papers detailing widespread global tax avoidance place the UK at the centre of this operation.
By Andre Damon, 5 April 2016
Documents provided to the International Consortium of Investigative Journalists tie hundreds of wealthy individuals and world leaders to offshore havens used in tax evasion and money laundering.
By Shannon Jones, 4 April 2016
The case was chosen by GM because evidence of corporate malfeasance appeared weakest.
“They got away with murder for profit”
By Shannon Jones, 29 March 2016
To date, no top GM official has been held to account for the decade-long cover-up of an ignition defect responsible for at least 124 deaths and hundreds of injuries.
By Genevieve Leigh, 16 February 2016
The families charge HSBC with providing “material support” to the killers by laundering drug money.
By Shannon Jones, 6 February 2016
Recalls have proceeded in a piecemeal fashion since 2008, when Honda first publicly reported the deadly defect.
By Gabriel Black, 21 December 2015
A recent Associated Press report found that many leading seafood suppliers buy shrimp processed by slaves in Thailand working in horrific conditions.
By Clement Daly, 4 December 2015
Blankenship was found guilty of only one misdemeanor count of conspiring to willfully violate federal mine health and safety laws but acquitted of more serious felony charges.
By Dietmar Henning, 26 November 2015
The VW group works council and the IG Metall union are working behind the scenes to pass the costs onto the workforce through job losses and wage cuts.
By Clement Daly, 25 November 2015
Blankenship was at the head of Massey when an explosion ripped through the company’s Upper Big Branch mine in West Virginia on April 5, 2010, killing 29 miners.
By Clement Daly, 20 November 2015
Federal prosecutors rested their case against Don Blankenship on Monday and defense attorneys declined to call any witnesses.
By Nick Barrickman, 9 November 2015
The attorney general is seeking access to financial records that may show the company misled corporate investors about the effects of climate change on the oil giant’s bottom line.
By Gabriel Black, 3 November 2015
The new judicial standard for insider trading cases established in a federal appeals court ruling in December amounts to a legal green light for illegal financial manipulation.
By Gabriel Black, 13 October 2015
The Supreme Court refused to hear a challenge to a recent ruling making the enforcement of insider trading laws virtually impossible.
By Brad Dixon, 9 October 2015
Prescription drugs cost up to 10 times more in the United States than they do in other countries, according to a new report.
By Tom Hall, 9 October 2015
The oil giant will pay a fraction of the maximum possible fine for the worst environmental catastrophe in American history, while not a single top executive will spend a day in jail.
By Evan Blake, 6 October 2015
The company that owns the El Faro has admitted that it ordered the voyage into the storm, while seeking to place the blame for the tragedy on the crew themselves.
By Brad Dixon, 6 October 2015
Valeant Pharmaceuticals’ strategy is to buy drugs from other companies and then jack up the prices to enrich the company’s shareholders.
By Peter Schwarz, 29 September 2015
The leadership of the Volkswagen group, the German government and the EU Commission knew about the manipulation of emissions readings in diesel vehicles for years.
By Peter Schwarz, 26 September 2015
The systematic fraud at VW is an expression of the irrationality of the economic and social system in which the corporation operates.
By Nick Barrickman, 24 September 2015
Shkreli’s actions represent nothing more than an unabashed and especially brazen form of everyday business practice under capitalism.
By Patrick Martin, 19 September 2015
The slap on the wrist this week for General Motors, for the deaths of at least 124 people, is another demonstration that capitalism has one law for working people and another for the ruling elite.
“I believe GM murdered my daughter”
By Shannon Jones, 18 September 2015
The World Socialist Web Site spoke with Leo and Mary Ruddy, parents of Kelly Erin Ruddy who died in the crash of her Cobalt in January 2010
By Sven Heymann, 14 August 2015
Thousands of people who seek refuge in Germany from poverty, war and dictatorship find catastrophic conditions upon their arrival.
By Shannon Jones, 28 July 2015
The $105 million penalty is a derisory amount, a small fraction of the automaker’s annual revenue and profits.
By Sven Heymanns, 28 July 2015
Anshu Jain, who recently resigned as co-chair of Deutsche Bank, was involved much more deeply in the manipulation of Libor than previously known.
By Samuel Davidson, 6 July 2015
Pittsburgh-based coal and natural gas giant Consol Energy is the latest in a series of private companies to cut health benefits for its retired workforce.
By David Brown, 3 July 2015
The agreement is the culmination of the Obama administration’s efforts to shield BP from responsibility for the worst environmental disaster in US history.
By Maria Kovalenko, 23 June 2015
The Communications Workers of America and the International Brotherhood of Electrical Workers are preparing to hand over more concessions on pensions and health benefits.
By Andre Damon, 15 May 2015
The effect of guilty pleas for crimes involving massive manipulation of financial markets will be essentially zero, beyond the immediate costs the fines levied on the institutions.