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The business council of Australia warned the new tax would reduce investment nationally and in south Australia. The chief executive, jennifer Westacott, said the levy was a knee-jerk approach to whacking job-creating businesses. It beggars belief that instead of supporting policies that will increase the investment needed to create jobs, such as a globally competitive company tax rate, the south Australian government is doing the opposite, westacott said. It is galling that a state government that is not prepared to make tough decisions to strengthen its own economy should impose a tax that will harm the investment environment across the entire country. The big banks also immediately attacked the decision. Anzs chief executive, shayne Elliott, described it as a deeply concerning tax that would harm investment and the state economy. All businesses will rightly question the political risk associated with investing in a state with a government prepared to unfairly target an industry that has played a significant role in supporting its lagging economy, elliott said.

Anna Bligh, said states had no role in banking policy, and the south Australian government was simply attempting to raise revenue in a desperate political move. Bligh called on all state and territory leaders to rule out copycat measures amid reports Western Australia is considering a similar tax. Let me be clear it is not the job of banks to prop up government budget shortfalls, Bligh said. Tax policy in Australia is now becoming a joke at the whim of political opportunism and south Australia is trying to impose triple dipping for bank taxation. Bligh called on the other premiers and first ministers to rule out introducing similar levies. Unemployment in south Australia.9, the highest in the nation. Job growth has also been slow this financial year, at about.4, and the state government fears the departure of Holden will cause the loss of thousands of jobs and imperil the economy. Weatherill said he would take measures to prevent banks passing on the costs to taxpayers. That relies on the state government being able to show that increases in banking fees are directly linked to the levy. He said he had previously pushed for the gst to be applied to the financial sector. Our preference would have been to pursue this through an expansion of the base of the gst, theres persuasive no doubt about that, he said.

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But the prime minister sought to differentiate the coalitions levy from south homework Australias. Turnbull said his levy was a national and consistent tax on bank liabilities. The south Australian tax that is announced yesterday, it was of course limited only to south Australia, and the question Mr weatherill has got to answer is that is his decision going to make business. South Australia more competitive or less competitive? See, thats one thing to have a tax that covers the whole country, but when a state imposes higher business taxes within its own jurisdiction, is that going to drive investment, support, and jobs within that state, or going to make it less competitive? The australian Bankers Association was quick in its condemnation, describing the measure as an outrageous cash grab. Its chief executive, the former queensland premier.

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hugh Son (may 9, 2012). "BofA Chief moynihan Faces Shareholder Ire as Protests Swirl". Gov/imo/media/doc/ JobDestroyers3.pdf External links edit. Banks and business groups have described south Australias plans for a new bank levy as an outrageous cash shakespeare grab, while malcolm Turnbull questioned the damage a state-based tax would cause to the local economy. The premier, jay weatherill, used the state budget on Thursday to announce the levy, which is planned to raise 370m over four years, including 90m in its first year. The federal government announced its own.2bn levy in last months budget. Weatherill used the federal governments budget papers, which suggested the sector was undertaxed, to justify south Australias decision. The commonwealth has reached precisely the same conclusion, weatherill told Radio national on Friday. This is a national economy with national banks which are not paying their fair share of tax.

"Brian moynihan: we didn't Think bofa customers would be ticked Off With The 5 Debit Card fee". Archived from the original on April 6, 2012. susanna kim, matt Gutman (January 23, 2012). "Bofa debit fee plan Led to 20 Jump in Closed Accounts". Retrieved may 16, 2012. linette lopez (January 25, 2012). "no matter What Brian moynihan says, people Are Still Calling For Bank Of America's Break-up". Retrieved April 20, 2012.

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2009 Brown University, brown Rugby team. a b Wallack, todd (november 17, 2009). "Moynihan, in running for Bank of resume America's top job, has experience winning tough fights". a b "Bank of America names Brian moynihan General counsel". a b "Brian. Retrieved October 13, 2010.

Drew Sandholm (August 25, 2011). "Is Brian moynihan's Credibility hurt by warren Buffett deal?". Missing or empty url ( help access-date requires url ( help ) john Carney (September 12, 2011). "Bank of America continues to Ignore market view of Risk". Retrieved April 5, 2012. "Bofa ceo brian moynihan 'Incensed' people don't Recognize 'how Much good' his Employees Do".

According to the report, moynihan's Bank of America paid no federal income tax in 2010 and received.9 billion tax refund despite making.4 billion in profits. The report also includes criticisms of Bank of America's use of tax havens. 20 see also edit references edit a b c "A look at Bank of America's new ceo brian moynihan". Retrieved December 17, 2009. Blood, david; noonan, laura (July 23, 2017). "Bank chief executives' pay 2016".


Retrieved August 5, 2017. "Bank of America names Brian moynihan as new ceo". "Bank of America board of Directors Elects Brian moynihan ceo". "Brian moynihan Elected Chairman of the board of Directors bank of America newsroom". "After quake, a lesson in Persistence". The wall Street journal. Retrieved February 2, 2011. "Brown Rugby field Dedication".

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We learned our lesson and stopped." 16 It was later reported that the failed fee plan led to a 20 increase in account closures during the last three months of 2011. 17 In late january 2012, moynihan stated: What we need to do is to continue to fine-tune the company, give capital ratios where people understood that we had the capital we knew we had. And then they saw that and thats why you saw some response in the e core issue now is to drive the core earnings, and weve got to get the costs down in the company, which were working. And then as the economy continues to move along, even at the 2 percent growth level, we'll start to materialize more and more earnings, and that's what we need." Business Insider noted that "a group of law professors and activists from shakespeare a non-profit. 18 Criticism edit The bank's 2012 shareholder meeting in Charlotte, north Carolina convened "as protests swirled inside and outside according to the san Francisco Chronicle. There were complaints from shareholders regarding the bank's mortgage servicing operations, decreased share prices, and other issues. Protesters converged outside the building, which they were barred from entering by police and metal barricades. In response to the criticisms of the bank's mortgage servicing operations, moynihan tried to reassure the audience, saying "you can call us and we will figure it out". 19 In 2012, moynihan, alongside several other ceo's, faced heavy criticism from Senator Bernard Sanders (I-Vt.) in a report titled "Top Corporate tax Dodgers".

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11 On August 25, 2011, cnbc's Drew Sandholm noted that "despite having recently told investors Bank of America. Doesn't need to raise capital, ceo brian dear moynihan will accept 5 billion in capital from famed investor Warren Buffett. The deal not only surprised the fast Money traders on Thursday, it also caused them to question moynihan's credibility." 13 On September 12, 2011, cnbc 's John Carney noted that moynihan had "once again laid out his company's plan to meet regulatory capital requirements and. Moynihan says that Warren Buffett 's 5 billion counts as tier 1 Capital. But the markets have largely ignored the investment, most likely because it looks a lot more like debt than capital." 14 On October 26, 2011, huffington Post blogger Jillian Berman noted that boa "has also been hammered in the stock and bonds markets" and "was. While moody's downgraded the bank last month." She added while jamie dimon, jpmorgan Chase's ceo, received a 19 million raise in 2010, moynihan's salary stayed level at 950,000. 15 On December 27, 2011, julia laroche wrote in Business Insider that moynihan "admitted the proposed 5 monthly fee for debit card users wasn't the best idea". She"d him as saying: "We struck a chord with customers that no one anticipated.

returning to, providence, rhode Island to join, edwards angell llp, the citys largest corporate law firm. 9, moynihan held numerous banking positions before becoming president of consumer and small business banking. Bank of America in January 2009. 11, he joined, fleet Boston bank in April 1993 as a deputy general counsel. 10, from 1999 to April 2004, he served as executive vice president, managing Fleet's brokerage and wealth management division. Bank of America (BoA) merged with FleetBoston Financial in 2004, he joined boa as president of global wealth and investment management. He was named ceo. Merrill Lynch after its sale to boa in September 2008, and became the ceo of Bank of America after Ken Lewis stepped down in 2010.

But Dublin td, mr Curran replied: fianna fáil has always prided itself on representing the rights of workers and will not be lectured by labour on employment rights. Deputy quinn should also remember the government that introduced the may bank holiday was led by fianna fáil. Lifestyle, new fathers life changed forever after he was run over by surgeon. More From The Irish Examiner. Brian Thomas moynihan (born October 19, 1959) is an American lawyer, businessman and the chairman and ceo. He joined the board of directors, following his promotion to president and ceo in 2010. 3 4 5, contents, early life and education edit, moynihan was born in, marietta, ohio in 1959, 1 the sixth of eight children in a thank roman Catholic family of Irish descent.

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IrishExaminer, monday, october 24, :08. Fianna fáil today denied Opposition claims that it is axing the may day bank holiday in Ireland. Former Labour Party leader ruairi quinn earlier accused the government party of passing a motion at its weekend Ard Fheis to abandon the annual international day to celebrate workers. But fianna fáil td john Curran, who chaired a workshop on the issue at the killarney event, insisted a motion to designate April 24 as a national holiday for the 1916 Easter Rising was passed. Despite the vivid imagination of Labours ruairi quinn there was no proposal to end the bank holiday at this weekends Ard Fheis, in fact there was a proposal at a workshop I chaired to make april 24 a bank holiday to commemorate the rising. That motion was passed, he said. The motion is publicly available and there were plenty of journalists there to report. The oireachtas must now decide whether to adopt April 24 as a national holiday. Mr quinn earlier said he had been shocked at the decision by fianna fáil to change the significance of the may date, which he said recalled great social and economic achievements of the labour movement.


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Turnbull said his levy was a national and consistent tax on bank liabilities. end the bank holiday at this weekends Ard Fheis, in fact there was a proposal at a workshop I chaired to make april 24 a bank holiday. Earlier, Philippine national Bank, east West Banking Corp.

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