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.
By Andre Damon, 18 April 2015
Bernanke’s new job constitutes little more than a kickback for services rendered to Wall Street.
By Barry Grey, 8 April 2015
In America, “justice” for the working class and poor is remorseless, brutal and final.
By Clement Daly, 26 March 2015
It is nearly five years since the April 2010 explosion at Upper Big Branch killed 29 West Virginia miners in the worst US mine disaster in nearly four decades.
By Philip Guelpa, 3 March 2015
The Christie administration has reportedly reached an out-of-court settlement with ExxonMobil for a fraction of the estimated cleanup cost.
By Andre Damon, 11 February 2015
The British, American and other governments buried evidence that Europe’s largest bank was running a massive tax fraud service.
By Andre Damon, 4 February 2015
The settlement amounts to yet another slap on the wrist for companies whose fraudulent activities contributed to the 2008 financial collapse.
By Tom Hall, 17 January 2015
BP’s maximum fine for the 2010 Gulf of Mexico oil spill will be $13.7 billion, far lower than the $18 billion fine called for by prosecutors.
By Tom Hall, 3 November 2014
Millions of gallons of oil released during the 2010 BP oil spill fell to the seafloor of the Gulf of Mexico, according to a study released last week.
By Shannon Jones, 28 October 2014
US federal safety regulators have limited the recall of vehicles equipped with defective airbags to a restricted geographical area.
By Shannon Jones, 23 October 2014
Reports indicate that Honda and other automakers knew that airbags on their vehicles could explode, posing a risk of death or injury to occupants, but dragged out a recall.
By Shannon Jones, 17 October 2014
So far, there have been 178 death claims filed, far in excess of the 13 fatalities acknowledged by GM in vehicles it has recalled for faulty ignitions.
By Tom Hall, 24 September 2014
Prosecutors in the first federal felony case against corporate executives for food poisoning did not press charges for the nine deaths caused by the salmonella outbreak.
By Shannon Jones, 29 August 2014
To date there have been 107 death claims relating to a deadly ignition defect that can cause airbags not to deploy.
By Andre Damon, 23 August 2014
The Obama administration’s latest settlement with Bank of America imposes a wrist-slap fine and shields bankers from prosecution.
By Gabriel Black, 22 August 2014
The actual financial hit of BoA is far less than the $16.7 billion price tag touted by the Obama administration.
By Gabriel Black, 22 July 2014
By denying victims and their families access to the courts, the company stands to avoid billions of dollars in damages.
By Gabriel Black, 17 July 2014
Documents obtained by the New York Times show that GM withheld information from the National Highway Traffic Safety Administration about a fatal crash tied to a faulty ignition switch.
By Tom Hall, 12 July 2014
Nagin, infamous for his callous conduct during and after Hurricane Katrina, was sentenced to ten years in prison on 20 corruption counts.
“GM is alright with safety as long as it doesn’t interfere with sending parts out the door.”
By Jerry White, 3 July 2014
James L. Gibson, a 48-year-old worker for Quaker Chemical, was pronounced dead at Marion General Hospital about an hour after the blast.
By Gabriel Black, 2 July 2014
New documents released by Congress indicate high-ranking GM executives knew as early as 2005 about an ignition defect tied to fatal crashes.
By Shannon Jones, 1 July 2014
GM hopes to settle on the cheap its liabilities from a deadly ignition defect tied to numerous fatal crashes.
By Andre Damon, 21 June 2014
A former Goldman Sachs trader who helped the bank bet against toxic mortgage-backed securities it was palming off to investors claims he was underpaid for his efforts.
By Shannon Jones, 14 June 2014
The report commissioned by General Motors into the recall of vehicles with a deadly ignition defect paints a devastating picture of corporate indifference to public health and safety.
By Shannon Jones, 11 June 2014
Family members denounced the recent report commissioned by GM as a cover-up designed to shield top officials.
By Gabriel Black, 10 June 2014
A Federal appeals court overturned a judge’s 2011 decision against a sweetheart deal between the Securities and Exchange Commission (SEC) and Citibank.
By Jerry White, 6 June 2014
The internal investigation claims bureaucratic incompetence and communication glitches were behind the automaker’s failure to recall defective vehicles responsible for scores if not hundreds of fatal accidents.
By Shannon Jones, 30 May 2014
GM still insists only 13 deaths are tied to ignition defect despite evidence that the actual toll is far higher.
By Shannon Jones, 21 May 2014
The auto maker has recalled 13.6 million vehicles in 2014 in the wake of the exposure of its cover-up of a deadly ignition defect.
By Andre Damon, 20 May 2014
Last week the US Department of Transportation ended its investigation into General Motors over an ignition switch default, which led to the loss of at least 13 lives.
By Shannon Jones, 17 May 2014
The automaker is being fined a mere $35 million, less than one day’s revenue.
By Shannon Jones, 6 May 2014
The auto company is relying on the Obama administration’s bailout to free it of liability for dozens, if not hundreds, of deaths.