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New Delhi [India], June 23 (ANI): The Ministry of Health and Family Welfare postponed the National Eligibility cum Entrance Test Postgraduate (<keyword id="6361994" type="General" weightage="100" keywordseo="NEET" source="Orion">NEET</keyword> PG) Examination on Saturday, which was scheduled to be held on Sunday, and said that a fresh date will be announced at the earliest. The NEET-PG exams were scheduled to be held on June 23. "Taking into consideration, the recent incidents of allegations regarding the integrity of certain competitive examinations, the Ministry of Health has decided to undertake a thorough assessment of the robustness of the processes of the NEET-PG Entrance Examination, conducted by the National Board of Examination for medical students," the ministry statement read. "It has accordingly been decided, as a precautionary measure, to postpone the NEET-PG Entrance Examination, scheduled to be held on 23rd June, 2024. The fresh date of this examination will be notified at the earliest," the ministry added. "The Ministry of Health sincerely regrets the inconvenience caused to the students. This decision has been taken in the best interests of the students and to maintain the sanctity of the examination process," the health ministry said. The National Board of Examinations in Medical Sciences (NBEMS) was fully prepared to conduct the National Eligibility cum Entrance Test (NEET) Post-Graduate (PG) 2024. Speaking exclusively to ANI, Dr Rakesh Sharma, OSD to President and Member, Governing Body, NBEMS said, "All eyes of the nation are on NBEMS for the conduct of NEET PG 2024 and we will not let down the hope of the nation. We will conduct the test through a computer-based test (CBT) mode throughout the country." On Standard Operating Procedure (SOPs) for successfully delivering and maintaining transparency, he said, "NBEMS has robust SOPs for conducting exams because of which NBEMS has been successfully delivering the exams year after year. These SOPs are stringently followed. NBEMS has worked very hard on maintaining the secrecy of the question paper and there is no chance that there will be any leakage of the question paper." He further said that NBEMS is supported by medical colleges, faculty, MoHFW, Flying Squads, Deans and Principals, Vice-chancellor and other agencies, "NBEMS has support from various medical colleges, faculty, MoHFW and other agencies. NBEMS has already briefed the chief secretaries and DGP of all states for safe and secure conduct of the exam." The <keyword id="581232" type="General" weightage="20" keywordseo="National-Testing-Agency" source="Orion">National Testing Agency</keyword> (<keyword id="654916" type="General" weightage="20" keywordseo="NTA" source="Orion">NTA</keyword>), which conducted the NEET-UG exams, is facing criticism over alleged irregularities in the exams. This resulted in several protests across the country, with protestors and political parties demanding to disband the NTA. An unprecedented 67 candidates achieved a perfect score of 720 marks out of 720, which added to the concerns. The <keyword id="19932587" type="General" weightage="20" keywordseo="ministry-of-education" source="keywords" meta.keywordsubtype="org" meta.entityname="ministry of education" meta.hostid="83" meta.entityid="ministry of education">Ministry of Education</keyword> said it has constituted a high-level committee of experts to make recommendations on reforms in the mechanism of the examination process, improvements in data security protocols and the functioning of the NTA. The 7-member committee, led by ISRO former chairman Dr K. Radhakrishnan, will submit its report to the ministry in the next two months. "In order to ensure transparent, smooth and fair conduct of examinations through the National Testing Agency (NTA), Department of Higher Education, Ministry of Education constituted a High-Level Committee of Experts to make recommendations on Reform in mechanism of examination process improvement in data security protocols and the structure and functioning of National Testing Agency," the ministry said.

Centre postpones NEET-PG exam, fresh date to be announced soon

The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> on Monday refused to entertain a <keyword id="19957723" type="General" weightage="20" keywordseo="PIL" source="keywords">PIL</keyword> challenging the government's decision to cancel the UGC-NET examination following alleged <keyword id="20713483" type="General" weightage="20" keywordseo="question-paper-leak" source="keywords">question paper leak</keyword>. A bench comprising <keyword id="15469242" type="General" weightage="20" keywordseo="Chief-Justice-D-Y-Chandrachud" source="Orion">Chief Justice D Y Chandrachud</keyword> and justices JB Pardiwala and Manoj Misra, however, said the dismissal of the PIL does not amount to a decision on the merits of the PIL as it was filed by a lawyer and not by aggrieved students. "Why are you (lawyer) coming? Let the students come here themselves," the CJI told the lawyer, adding "while declining the above PIL, we express nothing on merits". The bench asked advocate Ujjawal Gaur, who has filed the PIL as a petitioner, to focus on some legal matters and leave such issues for aggrieved persons. The plea was filed against the decision of the <keyword id="20018491" type="General" weightage="20" keywordseo="Union-education-ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Union education ministry" meta.hostid="153" meta.entityid="Union education ministry">Union education ministry</keyword> and the <keyword id="19904021" type="General" weightage="20" keywordseo="National-Testing-Agency" source="keywords" meta.keywordsubtype="org" meta.entityname="National Testing Agency" meta.hostid="153" meta.entityid="National Testing Agency">National Testing Agency</keyword> to cancel the <keyword id="21469389" type="General" weightage="100" keywordseo="UGC-NET-exam" source="keywords">UGC-NET exam</keyword> following inputs that its integrity may have been compromised. The ministry on June 19 had ordered the cancellation of the UGC-NET exam and handed over the matter to the CBI for an investigation. In the plea, Gaur also sought a direction to immediately stay the proposed re-examination of the UGC-NET exam until the CBI completes its inquiry into the <keyword id="20116086" type="General" weightage="20" keywordseo="paper-leak" source="keywords">paper leak</keyword> allegations. "The petitioner asserts that the decision is not only arbitrary but also unjust, given the recent findings of the Central Bureau of Investigation (CBI). "The CBI's investigation brings the fact that the evidence suggesting the paper leak is doctored, thus nullifying the grounds on which the cancellation was based," the plea, filed through advocate Rohit Pandey, said. The petitioner submitted that the "unwarranted" cancellation of the exam has caused significant distress, anxiety, and an unnecessary expenditure of resources for the aspirants who have rigorously prepared for this crucial examination.

Supreme Court refuses to entertain PIL against government decision to cancel UGC-NET exam

The Centre on Thursday told the <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Supreme Court" meta.hostid="261" meta.entityid="Supreme Court">Supreme Court</keyword> that the decision to give <keyword id="21375140" type="General" weightage="20" keywordseo="grace-marks" source="keywords">grace marks</keyword> to 1,563 <keyword id="20055256" type="General" weightage="20" keywordseo="NEET-UG" source="keywords">NEET-UG</keyword>, 2024 candidates for admission to <keyword id="19968296" type="General" weightage="20" keywordseo="MBBS" source="keywords">MBBS</keyword>, <keyword id="20007002" type="General" weightage="20" keywordseo="BDS" source="keywords">BDS</keyword> and others courses has been cancelled and they will be given an option to take a re-test on June 23. A vacation bench of justices Vikram Nath and Sandeep Mehta was told by the counsel for the Centre and the <keyword id="19904021" type="General" weightage="20" keywordseo="National-Testing-Agency" source="keywords" meta.keywordsubtype="org" meta.entityname="National Testing Agency" meta.hostid="261" meta.entityid="National Testing Agency">National Testing Agency</keyword> (NTA) that the students, who were given grace marks, will be given an option to take the re-test. The court said it will not stay the counselling process for admissions. If the candidates, out of the 1,563, do not wish to take up the retest then their earlier marks, sans the grace marks, will be given for the purposes of the results. The results of the re-test will be declared on June 30 and the counselling for admission in the MBBS, BDS, other courses will start on July 6, the Centre said. Taking note of the submissions, the bench said all the pleas, including the one filed by Alakh Pandey, the chief executive of EdTech firm Physics Wallah over the issue of award of grace marks, will be taken up for hearing on July 8. They also include the petitions seeking cancellation of NEET-UG, 2024 on account of allegation of question paper leaks and other malpractices. The examination was held by the NTA on May 5 across 4,750 centres and around 24 lakh candidates took it. The results were expected to be declared on June 14 but were announced on June 4, apparently because the evaluation of the answer sheets got completed earlier. The allegations such as question paper leak and the grant of grace marks to over 1,500 medical aspirants have led to protests and filing of cases in seven high courts as also the Supreme Court. As many as 67 students scored a perfect 720, unprecedented in the NTA's history, with six from a centre in Haryana's Faridabad figuring in the list, raising suspicions about irregularities. Scores of students protested in Delhi on June 10 seeking a probe into alleged irregularities. It has been alleged that grace marks contributed to 67 students sharing the top rank. The NEET-UG examination is conducted by the NTA for admissions to MBBS, BDS, AYUSH and other related courses in government and private institutions across the country. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/ixigo-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110944526.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ixigo-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110944526.cms" target="_blank">Ixigo IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/xiaomi-14-civi-vs-oneplus-12r-which-affordable-flagship-should-you-buy/slidelist/110939370.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/xiaomi-14-civi-vs-oneplus-12r-which-affordable-flagship-should-you-buy/slidelist/110939370.cms" target="_blank">Xiaomi 14 CIVI vs OnePlus 12R – which affordable flagship should you buy?</a><a href="https://www.businessinsider.in/tech/news/elon-musk-hits-out-at-apples-partnership-with-openai-threatens-to-ban-apple-devices/articleshow/110902477.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/elon-musk-hits-out-at-apples-partnership-with-openai-threatens-to-ban-apple-devices/articleshow/110902477.cms" target="_blank">Elon Musk hits out at Apple’s partnership with OpenAI, threatens to ban Apple devices</a>

Row over NEET-UG: Grace marks given to 1,563 candidates withdrawn, Centre to SC

Former Indian liquor baron <keyword id="14678" type="PERSON" weightage="100" keywordseo="Vijay-Mallya">Vijay Mallya</keyword>, who has been declared a wilful defaulter by several Indian banks, is in trouble once again. <keyword id="6373968" type="PERSON" weightage="100" keywordseo="Mallya">Mallya</keyword> senior’s name has appeared in the offshore leaks by International Consortium of Investigative Journalists (ICIJ), who shook the world with Panama Paper leaks a few days back. 
 
As per the details accessed from the ICIJ website, a British Virgin Islands firm, called Venture New Holding Limited, which has been operational from February 15, 2006, is directly being linked to Vijay Mallya in spite of any of his companies. 
 
Mallya, who is an NRI, has had his tax haven entities in focus after the Karnataka high court’s observations in January 2014 that "Mallya had not come to the court with clean hands". The observation was in reference to a possible diversion of Rs 4,000 crore to a subsidiary in British Virgin Islands. 
 
The operations of Venture New Holding were carried out from Mallya’s residence, 3 Vittal Mallya Road in Bengaluru. The offshore also has a direct link to a firm named Porticullus Trust Net, which, as per ICIJ details, is a 'one-stop solution' for the setting up of offshore accounts. 
 
Mallya has direct links to a firm in Virgin IslandsMallya has direct links to a firm in Virgin IslandsThis firm originates from Cook Islands, which is an island group in South Pacific. Sharecorp Limited, a nominee shareholder firm protected Mallya's identity until the leaks happened. 
 
<a href="http://www.thelittlenews.com/wp-content/uploads/2016/03/mallya-16.jpg">Image source</a>

Mallya crops up in Panama Papers, has direct links to a firm in Virgin Islands

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">White HouseBarack Obama.</div></div></div>President Barack Obama on Tuesday drew parallels between the revelations in the so-called Panama Papers and the practice of corporate inversions.His comments came after the <a href="http://www.businessinsider.com/panama-papers-main-findings-2016-4">massive leak of documents</a> from the internal database of a global law firm based in Panama that revealed the offshore holdings of 140 public figures.In a press conference Tuesday, Obama said the practice of corporations and wealthy individuals avoiding taxes was a "huge problem.""There is no doubt that the problem of global tax avoidance generally is a huge problem," Obama said, referring to the leak. He continued: "There has been some progress made in coordinating between tax authorities in different countries. But as I said before, a lot ot this stuff is legal, not illegal. And unless the United States and other countries lead by example in closing some of these loopholes and provisions, then, in many cases, you can trace what's taking place, but you can't stop it."Obama held the press conference to <a href="http://www.businessinsider.com/ap-treasury-department-sets-its-sights-against-inversions-2016-4">promote the Treasury Department's new package of rules</a> on Monday aimed at disincentivizing tax inversions, the process by which companies move their tax bases overseas to avoid high corporate tax rates.Obama said the issue of corporate inversions is different than the movement of money detailed in the Panama Papers. But he stressed that the US needs to work more with foreign partners to ensure that the US prevents companies and wealthy individuals from attempting to escape paying what he called their "fair share" in taxes."The basic principle of making sure that everyone is paying their fair share and that we don't just have a few people who are able to take advantage of tax provisions, that's something we really need to pay attention to," Obama said. "Because this is all net outflows of money that could be spent on pressing needs here in the United States."He added: "And the volume you start seeing when you see legal tax avoidance with illicit tax avoidance...this is not just billions of dollars, this may be trillions of dollars worldwide." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/trump-shares-meme-attacking-cruz-wife-twitter-2016-3">'The images are worth a thousand words': Trump shares a meme attacking Ted Cruz's wife</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="l4ZWFiMjE66X4z5AHcAfIOL6-IkJVWFt" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Obama addresses bombshell Panama Papers leak in promoting tax reform

<ul class="summary-list"><li>Some <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> employees criticize the firm in "badge posts" upon their departure from the company.</li><li>One of the first posts that criticized the company was written in 2016, Wired reported.</li></ul>Some Facebook employees write "badge posts" when they leave the company as a means of farewell. Wired reports that some employees are <a href="https://www.wired.com/story/facebook-papers-badge-posts-former-employees/">using them to criticize the company</a> and their perceived impact it has on the world. The magazine - <a href="https://www.businessinsider.com/facebook-papers-mark-zuckerberg-frances-haugen-leaked-docs-2021-10"> one of many that cited thousands of leaked documents dubbed the "Facebook Papers" on Monday</a> - reported that while some employees speak accolades of Facebook via these internal farewell posts, others use them to scold the company for what they say is its wrongdoings.The badge posts, as well as other details included in the reported documents, show more evidence that people inside Facebook were concerned about the potential harm the company was publicly accused of posing. And yet, when they raised questions to leadership, nothing was done, according to Wired. A Facebook spokesperson told Insider that "at the heart of these stories is a premise which is false.""Yes, we're a business and we make profit, but the idea that we do so at the expense of people's safety or wellbeing misunderstands where our own commercial interests lie," they said. One employee, who left in December 2020, said they didn't think they'd ever get "a job as good as this one," but that they couldn't "in good conscience" stay ay Facebook. "(1) I think Facebook is probably having a net negative influence on politics in Western countries ... (2) I don't think that leadership is involved in a good-faith effort to fix this ... (3) I don't think I can substantially improve things by staying," wrote one researcher, whose post was viewed by Wired.They also said that Facebook conducted itself much worse than did its <keyword id="11895013" type="UNKNOWN" weightage="60" keywordseo="social-media" source="Orion">social media</keyword> peers and made decisions "influenced by political considerations."Another Whistleblower, Sophie Zhang, who has spoken to the press and recently testified before UK Parliament, also wrote a post when she left, saying she had "blood on her hands." Another employee wrote that they "have nothing but respect for the people working " in Integrity at Facebook, but "the truth is, I remain unsure that FB should exist."One of the earliest instances of employee criticism via Facebook badge posts was in July 2016, according to Wired, when a security engineer said he was leaving out of concern about the firm's "corporate direction" and how its "pursuit of growth may negatively impact our ethics and mission statement.""Plus, I am too tired to fight it," he wrote.The badge posts are called so in reference to the ID badges that employees are issued when they take a job at Facebook, Wired reported.<a href="https://www.businessinsider.com/facebook-whistleblower-hearing-testimony-frances-haugen-senate-outage-wsj-leak-2021-10">Whistleblower Frances Haugen</a> obtained thousands of internal Facebook documents and submitted them to the Securities and Exchange Commission. The material, now known as the Facebook Papers, was also shared with Congress in redacted form.It's been a rough few weeks for Facebook, a period of turmoil that began when Haugen first shared internal documents with the Wall Street Journal, which published its Facebook Files series detailing the company's controversial business practices.The paper reported that Facebook knew its Instagram platform was harming the mental health of teenagers, especially young girls, and that a <a href="https://www.businessinsider.com/facebook-employees-worrried-about-2018-algorithm-change-misinformation-trump-politics-2021-9">2018 tweak to its algorithm would promote divisive and sensationalistic</a> content on its main Facebook app.

Facebook employees reportedly use internal farewell messages to criticize the company for not fixing its 'net negative' influence on the world

That is, in that year, Trump claimed nearly 2% of all the net negative business income on individual tax returns in the entire country. Broadly, Trump's reported loss has to fall into two buckets, neither of which is great for Trump's argument that he ought to be president.<ol><li>Trump likely had significant real economic losses. For example, Trump somehow found a way to lose money operating Atlantic City casinos at a time when East Coast gambling licenses were highly restricted in number and generally extremely profitable to hold. Trump became insolvent in the early 1990s as his casinos and some other real-estate assets declined in value and <a href="http://www.politifact.com/truth-o-meter/statements/2016/jun/21/hillary-clinton/yep-donald-trumps-companies-have-declared-bankrupt/" target="_blank">he nearly went bankrupt</a>. If you have negative income (as Trump surely did in some years in the early 1990s) you don't get to have a negative tax bill; instead, you carry the losses forward onto future years' tax returns, as he did onto his 1995 taxes.</li><li>Trump also, like many real-estate developers, likely benefited from significant paper losses he could take on his tax return that did not reflect real economic losses. This does not mean he was illegally evading taxes. For example, the tax code has a variety of provisions for depreciating buildings as they age - as your building gets older and less nice, you can deduct a decline in value as a business expense. This depreciation expense is based on a fixed schedule, and you can take it on your taxes even if your building is, in fact, rising in value. This is all supposed to come out in the wash in the end, because when you sell the building, you pay tax on the difference between your sale price and your purchase price, with all those depreciation expenses you took over the years deducted from the purchase price. But you can delay that tax bill as long as you delay selling the property, which can be a very long time.</li></ol>So, why did Trump have such a yugely negative reported income? The story is almost surely a little from the first option ("I'm not very good at the real estate business and am mostly rich because I inherited lots of money") and a little from the second ("I had real income but I found ways to avoid paying tax on it even though you little people had to pay tax on your income.")One fact that points toward the second explanation is that Trump's 1995 taxes reflect not just a large carried-forward loss from prior years, but also a $16 million loss from real estate and other partnerships <a href="https://www.washingtonpost.com/news/wonk/wp/2016/10/02/the-most-shocking-part-of-donald-trumps-tax-records-isnt-the-916-million-loss-everyones-talking-about/">related to 1995 itself</a>. Real-estate investments were on the upswing again in 1995, so if Trump was really still losing money, that's a pretty bad sign about his business acumen.Indeed, Trump's campaign seems to be settling on explanation No. 2, judging by the choice of surrogates like former New York City Mayor Rudy Giuliani and New Jersey Gov. Chris Christie to go on national television and praise Trump as a <a href="http://www.businessinsider.com/jake-tapper-rudy-giuliani-donald-trump-tax-returns-2016-10" target="_blank">"genius" for reporting a negative income and paying no taxes</a>. Trump also chose to say "that makes me smart" when Hillary Clinton accused him of <a href="http://www.businessinsider.com/donald-trump-smart-not-paying-taxes-remark-2016-9" target="_blank">avoiding taxes on his income at last week's debate</a>.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersTrump holds a rally with supporters at the Suburban Collection Showplace in Novi, Michigan, U.S.</div></div></div>There are some other questions, like <a href="http://brontecapital.blogspot.com/2016/10/some-comments-on-new-york-times-story.html?spref=tw&amp;m=1">whether Trump used creative methods</a> to take credit on his own taxes for losses that were actually borne by banks and other creditors he stiffed. We can't answer those questions without more detailed records than the three pages of tax-return information that were leaked to The New York Times.But there is one important upshot from the "he's a genius" explanation that hasn't been remarked on much. That Trump has accrued so many reported losses on his taxes helps explain why he's so eager to repeal the estate tax.As I noted above, the "genius" of using strategies like depreciation expenses on real estate isn't that they avoid tax forever. It's that they allow a long delay in taxes on income related to real estate. Under current law, those taxes end up getting delayed until a real-estate asset is sold (and sometimes longer; a strategy called a 1031 exchange allows you to continue the delay so long as you buy a similar asset with the proceeds of the sale) or until you die.At your death, the appreciation on real-estate assets doesn't get taxed. But if you're worth more than $10 million, like Trump presumably is, most of the value of your bequeathed assets can be subjected to estate tax at rates up to 40%. That can be a bigger bite than the income tax that got avoided all along.But if Trump gets elected and gets his way on estate-tax repeal, he'll be able to pass his assets to his children tax-free when he dies - and his children (and their children and their children) will be able to avoid tax on accrued gains in the value of their real-estate portfolio as long as they don't ever sell it.That is, Trump seems to have cleverly used the tax code to delay a lot of taxes. But if he becomes president, he can find a way for him and his family to avoid ever having to pay tax on a bunch of the income he's earned over the decades.In a way, that would be pretty smart. It's a lot smarter than the way he managed his casinos.*Trump's loss appears to have been mostly carried forward from prior years. This comparison is apples-to-apples because the $49.3 billion IRS figure for all individual tax returns also includes losses carried forward from prior years by other taxpayers.This is an editorial. The opinions and conclusions expressed above are those of the author. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/morning-consult-poll-hillary-clinton-leading-trump-after-first-debate-2016-9">NATIONAL POLL: Clinton gets a post-debate bump</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VkOWw1NjE6lLjcS4LZB08rv_Do-uy2hR" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Donald Trump's leaked tax returns help explain why wants to end the estate tax

Brendan McDermid/ReutersOn March 23, Federal Reserve vice chair Stanley Fischer was the keynote speaker at a <a href="https://www.brookings.edu/events/">Brookings Institution</a> dinner in Washington, DC. There, he gave prepared remarks on regulatory policy and the Fed's response to the financial crisis and took questions from the audience on the highly market-sensitive topic of interest rate policy. Federal Reserve officials give speeches all the time. What makes this one notable is that it was closed to the public, Fischer's prepared comments have not been made available, and that the speech took place at all was not widely known. And, it came just days before another Fed official - Richmond Fed President Jeffrey Lacker abruptly resigned after admitting that he played a role in a 2012 leak of market-sensitive details of the central bank's internal deliberation. That leak, which arguably damaged the Fed's credibility, was to a private consultant which then shared the details with clients who stood to net millions in profits by trading ahead of the release of news. As Lacker's resignation shows, it's a scandal that continues to haunt the Fed. It doesn't, however, seem to have discouraged the central bank from letting officials speak in private settings where only a small group of people can glean insight from their comments. Fischer's participation and the nature of his comments were described to me by two conference participants. The Federal Reserve declined to comment for this story. "There is always a dinner speaker who is off the record and reporters are not ever invited," said Brookings Institution spokesperson DJ Norquist of the conference, which is an annual event. <h2>Market-moving events</h2>I don't know exactly what Fischer said, in part because the Fed hasn't put his comments up on its website like it does with other speeches. Federal ReserveThe Fed's website typically lists public comments.But Fed actions are some of the most market-moving events in the world. Small pronouncements from a single official, especially one of Fischer's inner-circle status, can have deep consequences in stock, bond, foreign exchange and other markets around the world. For that reason, every small non-public insight a trader or banker can acquire from the Fed has infinite potential value.This means Fed officials should not be speaking in private in the first place, especially since the practice appears to violate the <a href="https://www.federalreserve.gov/monetarypolicy/files/FOMC_ExtCommunicationParticipants.pdf">central bank's own code of conduct for participants of the policy-setting Federal Open Market Committee. </a>The rules, drafted in response to a <a href="http://www.reuters.com/article/us-usa-fed-idUSTRE68S01020100930">Reuters report on a separate leak in 2010</a>, specifically state: To the fullest extent possible, Committee participants will refrain from describing their personal views about monetary policy in any meeting or conversation with any individual, firm, or organization who could profit financially from acquiring that information unless those views have already been expressed in their public communications." Fischer may not have said anything that immediately moved markets. But his very presence and willingness to take questions from financial sector executives and away from the media speaks to the kind of secrecy that the central bank portends to be countering with a transparency push that began under former chairman Ben Bernanke and has continued under Janet Yellen. True, Brookings is a non-profit institution, not a bank. But its donors, the ones that get to attend these type of exclusive-access diners, <a href="https://www.brookings.edu/wp-content/uploads/2016/12/2016-annual-report.pdf">include Wall Street megabanks.</a> Its <a href="https://www.brookings.edu/about-us/board-of-trustees/">board of trustees</a> includes Carlyle Group co-founder David Rubenstein and Glen Hutchins a co-founder of Silver Lake, two of the largest private-equity investors in the world, as well as high-level executives at Goldman Sachs, Deutsche Bank and JPMorgan. The 2012 leak, to Medley Global Advisors, raised new questions since his letter of resignation indicated he merely confirmed information that was already in Medley's possession, <a href="http://www.businessinsider.com/lackers-resignation-raises-big-question-about-the-real-fed-leaker-2017-4">suggesting at least one other leaker.</a> And the Fed's initial response was to paper over the issue with a <a href="http://www.businessinsider.com/my-fed-leak-question-to-yellen-echoed-for-longer-than-i-ever-expected-2017-4">toothless internal investigation</a>, which was eventually taken over by the FBI and a congressional committee. But what Fischer's speech last month shows is that the Fed has yet to grapple with the opaque practices that lead to situations like this in the first place. When it comes to speaking in private to money-people, there's just one thing left for Fed officials to do: Just stop. <h3>NOW WATCH: <a href="http://www.businessinsider.com/video-shows-passenger-forcibly-dragged-off-united-airlines-plane-2017-4">People are outraged by this shocking video showing a passenger forcibly dragged off a United Airlines plane</a></h3> Please enable Javascript to watch this video

Fed officials haven't stopped holding private meetings even after a criminal probe into leaks

<div class="KonaFilter image-container display-table float_right"><div><div class="image">The Weinstein CompanyThe poster for "The Hateful Eight."</div></div></div>The piracy group responsible for leaking more than a dozen of the year's top movies say it is "sorry for the trouble we caused."Going by the name Hive-CM8, over the last two weeks the group has been releasing high-quality versions of films including James Bond movie "Spectre," "Legend," "Steve Jobs," "Creed," and "Bridge of Spies."Hive-CM8 started with "The Hateful Eight," the latest blockbuster from Quentin Tarantino - which it leaked a full week before it even came out in the cinemas.<a href="http://uk.businessinsider.com/quentin-tarantino-the-hateful-eight-leaks-online-piracy-download-screener-2015-12">The group claimed to have a jawdropping 40 films in its possession</a>, to be leaked online one-by-one.But Hive-CM8 fell silent after someone posted potentially identifying information about one of its members online, <a href="http://uk.businessinsider.com/piracy-group-hive-cm8-stops-pirates-panic-quentin-tarantino-hateful-eight-screeners-2015-12">causing pirates to panic that it had been scared off doing any more releases</a>.Turns out, this isn't the case. Hive-CM8 has leaked two new films, "Anomalisa" and "The Big Short" - and put out a statement in broken English explaining its position and offering Quentin Tarantino a bizarre apology."We didn't plan to comment at all on recent events," Hive-CM8 says, "but we feel now that we should."The group argues it leaked the videos to help people not able to go to the cinema - and that if you can, you should support the studios. "We wanted to share this movies with the people who are not rich enough or not able to watch all nominated movies in the cinema. Of course this files are not representing how they can be enjoyed in the cinema."As said in our nfo, pleaase support the producers and watch all movies in the cinema on a big screen, like you should anyhow. The Producers need the money from ticket sales to get back the production costs."The next part of the statement discusses "The Hateful Eight," the group's first release this holiday season. "We feel sorry for the trouble we caused by releasing that great movie before cinedate even has begun. we never intended to hurt anyone by doing that, we didnt know it would get that popular that quickly."The Hateful Eight is an excellent,thrilling and entertaining Western that combines terrific direction,a fantastic cast, a wonderful script, beautiful photography and a memorable score. All of those elements make The Hateful Eight an unforgettable film that is Quentin Tarantino at his best."In the description for the release of "The Big Short," the group says that it "held back this title till 1 week after cinema premiere to give the movie a fighting chance to play in the budget, we learned from our mistake."Hive-CM8 even makes the strange argument that its piracy crusade helped the movie studios. "Since everyone is now talking about [The Hateful Eight] we dont think the producers will loose any money at cinedate, and we tell you now why. We actually think this has created a new type of media hype that is more present in the news,radio and in the papers than starwars, and the promotional costs for this were free.""If lets say 5% of the people planned to watch this movie at cinemadate, due to this media push we unintenionally created, we believe that now 40% of the people will watch this movie in the cinema cause everyone is talking about it and everyone wants to see the movie that created so much noise.""This will push the cinema tickets sale for sure."But how did the team behind the piracy group manage to get their hands on the files in the first place - many before their theatrical release? It's all down to the time of year: awards season. With the Oscars, the BAFTAs, and other big movie award ceremonies coming up, judges are sent out DVDs of the films (called "screeners") for their consideration.Inevitably, some of these make their way online every year - although it's unusual for one group to have such a huge haul.Hive-CM8 claims that its files were not stolen by hackers, as some had speculated. "We got the copies sold from a guy on the street, no decryption was needed."The file for "The Hateful Eight" has been <a href="http://uk.businessinsider.com/the-hateful-eight-piracy-leak-andrew-kosove-report-alcon-hive-cm8-2015-12">traced back to Hollywood executive Andrew Koseve</a> (although there's no indication that Koseve had anything to do with the leak). The source of the other leaked movies has yet to be identified.Hive-CM8 doesn't appear to have "Star Wars: The Force Awakens," undoubtedly the biggest cinematic event of the year. Currently, the only pirated versions of the movie online are low-quality videos recorded by cameras in the cinema.It doesn't look like pirates will get all 40 promised movies from Hive-CM8 - despite claims it is helping the studios. "Sorry it was around christmas we didnt plan that at all either, we wont do another movie before its cinedate," they conclude, "and we def wont go up to 40 as planned, we think we have done enough already."<h2>Here's the full statement from Hive-CM8:</h2>We didnt plan to comment at all on recent events, but we feel now that we should.Sorry to disappoint M but there was no hack or any such thing . we got the copies sold from a guy on the street, no decryption was needed. we were definately not the only ones.cpl other movies have been on the net days before, not done from usSo we wanted to share this movies with the people who are not rich enough or not able to watch all nominated movies in the cinema.Of course this files are not representing the movies how they can be enjoyed in the cinemaAs said in our nfo, please support the producers and watch all movies in the cinema on a big screen, like you should do anyhow.The Producers need the money from ticket sales to get back the production costs.As for Hateful Eight Movie:We feel sorry for the trouble we caused by releasing that great movie before cinedate even has begun.we never intended to hurt anyone by doing that, we didnt know it would get that popular that quicklyThe Hateful Eight is an excellent,thrilling and entertaining Western that combines terrific direction,a fantastic cast,a wonderful script,beautiful photography and a memorable score.All of those elements make The Hateful Eight an unforgettable film that is Quentin Tarantino at his best.Since everyone is now talking about this movie we dont think the producers will loose any money at cinedate, and we tell you now why.we actually think this has created a new type of media hype that is more present in the news,radio and in the papers than starwars, and the promotional costs for this were freeIf lets say 5% of the people planned to watch this movie at cinemadate, due to this media push we unintenionally created, we believe that now 40% of the people will watch this movie in the cinemacause everyone is talking about it and everyone wants to see the movie that created so much noise.this will push the cinema tickets sale for sure.we really hope this helped out the producers in the longrun, so that the production costs are covered and morewe also think that the hateful 8 movie is the top candidate for the awards and will win by a mile over othersthx tarantino for this wonderful moviesorry it was around christmas we didnt plan that at all either, we wont do another movie before its cinedate,and we def wont go up to 40 as planned, we think we have done enough already.cheers <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-advanced-technology-might-replace-iphone-gene-munster-2015-12"> Apple wants to replace the iPhone with this advanced technology</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="h0Y3VpeTpbz7ksQXWbEaIv9BYvg3y9up" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The pirate group that leaked Quentin Tarantino's new movie just published a bizarre apology

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Chris Jackson / Getty ImagesPrince Charles was caught up in the Paradise Papers leak.</div></div></div><section data-slideshow-intro-content=""><ul><li><a href="https://www.businessinsider.com/category/prince-charles" target="_blank" rel="noopener">Prince Charles</a>'s net worth is estimated between $100 million and $400 million.</li><li>Most of his wealth stems from a medieval estate known as the Duchy of Cornwall.</li><li>The estate consists of valuable land, commercial and residential property, financial assets, and even a prison.<a href="https://www.businessinsider.com/royal-wedding-live-meghan-markle-prince-harry-windsor-2018-5"></a></li></ul> <a href="https://www.businessinsider.com/category/prince-charles" target="_blank" rel="noopener">Prince Charles</a>'s net worth is high enough to provide the longtime <a href="https://www.businessinsider.com/category/royal-family" target="_blank" rel="noopener">heir to the British throne</a> with a kingly existence.Estimates about how much money the heir apparent has got in the bank tend to fall in the hundreds of millions. <a href="https://www.gobankingrates.com/net-worth/politicians/rich-queen-elizabeth-rest-british-royal-family/#3" target="_blank" rel="noopener">Go Banking Rates</a> reported that he has $100 million. Other estimates, however, are considerably higher. According to <a href="http://time.com/money/5178274/royal-family-net-worth/" target="_blank" rel="noopener">Time</a> and <a href="https://www.townandcountrymag.com/society/money-and-power/a20745405/prince-harry-net-worth/" target="_blank" rel="noopener">Town and Country</a>, he's worth around $400 million. Regardless of how many millions of dollars is currently under the prince's name, it's likely that not all of that money is constantly available to him.Much of Prince Charles's income derives from the Duchy of Cornwall. As the longest-serving Duke of Cornwall, he's entitled to the private estate's annual revenue surplus.According to the duchy's most recent financial <a href="http://duchyofcornwall.org/assets/pdf/DuchyOfCornwallIAR2018.pdf" target="_blank" rel="noopener">statement</a>, the revenue "does not cover official travel or property services, which are funded by the sovereign grant." British taxpayers support the royal family through an annual <a href="https://www.businessinsider.com/british-royal-family-richest-people-2017-11" target="_blank" rel="noopener">sovereign grant</a>.Here's Prince Charles acquired and spends his millions:</section>

Prince Charles is worth up to $400 million thanks to assets like a medieval estate implicated in the Paradise Papers and an infamous prison - take a look at how he spends his fortune

<table class="image-container float_right" width="200"><tr><td><div class="image"></div><a href="http://www.gettyimages.com/detail/news-photo/senator-robert-menendez-speaks-at-the-senate-committee-on-news-photo/158602156">Getty Images/Drew Angerer</a>Senator Robert Menendez, D-N.J.</td></tr></table>New details leaking out about the <keyword id="6364622" type="UNKNOWN" weightage="60" keywordseo="Ethics">ethics</keyword> case surrounding Sen. <keyword id="341952" type="PERSON" weightage="60" keywordseo="Bob-Menendez">Bob Menendez</keyword> (D-N.J.) do not paint a pretty picture for the Senator.
The <a href="http://www.nytimes.com/2013/02/11/us/politics/menendez-discouraged-giving-port-security-equipment-to-dominicans.html?hp&amp;_r=1&amp;" target="_blank">New York Times has new details today</a> about evidence that Menendez aided friend and donor, Dr. Salomon E. Melgen, in getting a $500 million port contract. According to the Times, Menendez also used his clout to halt a U.S. plan to send port security equipment to the Dominican Republic, something that would have hurt his friend's business.
From <a href="http://www.nytimes.com/2013/02/11/us/politics/menendez-discouraged-giving-port-security-equipment-to-dominicans.html?hp&amp;_r=1&amp;" target="_blank">the Times</a>:
[I]n recently obtained e-mails, the degree to which Mr. Menendez sought to intervene on behalf of Dr. Melgen’s interests became clearer.
In a January e-mail exchange with Customs and Border Protection in the Department of Homeland Security, Mr. Menendez’s staff did not mention Dr. Melgen or his company, Boarder Support Services, by name.
But the aide asked if the United States government was planning to donate additional port security equipment to the Dominican Republic. The aide explained that if such a donation occurred, the Dominican government, perhaps under pressure from criminal elements there, might intentionally limit the use of the equipment so that drugs or other contraband could still flow through the country’s ports on the way to the United States.
Only by hiring the unnamed private contractor, the e-mail said, could the United States be assured that port security in the Dominican Republic would be enhanced.
"We’re thinking that Sen. Menendez forgot to mention this when he gave the <keyword id="6355284" type="ORGANIZATION" weightage="60" keywordseo="senate">Senate</keyword> Democrat leadership assurances that there was nothing to the charges against him," the Republican National Committee said in an email blast along with the story this morning.
The new details from the Times came <a href="http://www.nj.com/politics/index.ssf/2013/02/menendez_and_melgen_an_inside.html" target="_blank">after a Sunday story in Menendez's home-state paper, The Star-Ledger</a>, which provides several examples of cases in which Menendez intervening to Melgen's benefit preceded hefty donations to the Senator or aligned campaign committees. 
According to the Ledger, Melgen and his family have donated about $50,000 to Menendez over the past 10 years. That's peanuts compared to the $700,000 they have provided to the Majority PAC, the Super PAC set up to help elect Democrats like Menendez.
And there are the free flights that Melgen provided Menendez to the Dominican Republic, for which Menendez reimbursed Melgen after they became public. <a href="http://www.nationaljournal.com/daily/senator-bob-menendez-spent-up-to-87-of-his-savings-to-repay-donor-for-dominican-republic-flights-20130205" target="_blank">According to National Journal</a>, the $58,500 repayment represented as much as 87 percent of Menendez's net worth.
<a href="http://www.washingtonpost.com/politics/sen-menendez-contacted-top-officials-in-friends-medicare-dispute/2013/02/06/e01bf928-6fd4-11e2-aa58-243de81040ba_story.html" target="_blank">The Washington Post also reported last week</a> that Menendez intervened on Melgen's behalf when the latter was accused of overbilling the government by $8.9 million for care at his clinic.
<a href="http://www.nytimes.com/2013/02/09/opinion/mr-menendezs-ethics-problem.html?ref=opinion&amp;_r=1&amp;" target="_blank">In an editorial on Saturday</a>, the Times called on Senate Majority Leader Harry Reid to relinquish Menendez's gavel as chairman of the Senate Foreign Relations Committee, saying he "was never a distinguished choice for chairman."
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