3,221 Americans are giving up their citizenship so far this year
According to US government data, 1,426 Americans gave up their citizenship in the third quarter of 2015, marking 3,221 so far this year.
Many Americans are bidding farewell to Uncle Sam and are not looking back. Some of them are expats who are tired of dealing with tedious paperwork and are overloaded with tax payment regulations.
The US Foreign Account Tax Compliance Act requires individuals to report certain foreign assets, and for banks to disclose all foreign accounts held by Americans.These regulations come as part of a wider US government move to battle tax evasion, especially after major Swiss banks are helping Americans hide assets offshore.
However, the lives of 7.3 million Americans living abroad are only getting worse As financial institutions rush to understand FATCA, some overseas banks have kicked out their US clients, leaving some without even basic checking and savings accounts
The Hottest Motors Displayed at Tokyo Motor Show
Tokyo Motor show will soon beat off Los Angeles Show as Japan’s domestic car manufacturers have significantly upped their game on home turf –to manifest their competitive and their upper hand in motorway manufacture.
Due to a current push in technology and boosting the attention of Japan’s own main manufactures, many Japanese brands sit at the heart of these developments
Here are five Japanese trends that would appear in Tokyo Motor show
- Trend 1 : Driverless Cars: embedded in Nissan
- Trend 2: The rise of Lounge Seating: Mercedes Vision Tokyo is the best example of the lounge sitting.
- Trend 3: Fuel Cell Vehicles are embedded in Mercedes and Lexus which are both showing concepts powered by this technology, which emits no more than water from tailpipes.
- Trend 4: Mainstream sports car: embedded in MAZDA RX-Vision
- Trend 5: Connected Vehicles: embedded in Nissan’s Teatro for Dayz which set as fine examples, with no conventional controls, voice commands for most functions and a dashboard that can display everything from navigation data to personalized artwork.
Oil Companies are continuing clobbering
With prices hovering around $45 a barrel, about half of where they were at last year, this year had been the worst crumbling year for oil and gas companies. Consequently, job cuts have been rising in this sector as never before.
With Chevron profit took a dramatic hit – down 64 per cent from a year ago, it announced last Fridaythat that it expects to cut between 6,000 and 7,000 jobs this year. That’s about 11 per cent of its total workforce of 64,700.
ConocoPhillips (COP), on the other hand, swung to a loss of $466 million, compared to a profit $1.6 billion last year.
Also, Exxon said it would cut 1,500 jobs this year. And ConocoPhillips said in September it would cut 10 per cent of its workforce this year.
Up to 5,000 employees will lose jobs between now and the end of 2016.
