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IRS Writes New Accounting Rules for Asset Repairs

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The Internal Revenue Service issued new rules to clarify the difference between a business expense that is a repair and tax-deductible and one that is an improvement but not deductible right away.
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A worker prepares a display of Sharp flat panel televisions for the 2009 International Consumer Electronics Show (CES) at the Las Vegas Convention Center in Las Vegas.

LCD Makers in $539 Million Price-Fixing Accord

Samsung Electronics Co, Sharp Corp and five other makers of liquid crystal displays agreed to pay $539 million to settle claims they conspired to fix prices and stifle competition for LCD panels in televisions, notebook computers and monitors, according to a court filing.
Chinese dissident Chen Xi is seen in this undated handout photo released by his family

Chen Xi, Chinese Dissident, Jailed for 10 Years

Chinese dissident Chen Xi has become the second dissident in four days to be jailed for inciting subversions through online essays; he was given a 10-year jail sentence by a Chinese court in Guiyang, the capital of Guizhou province.
The French government last week recommended that women in France who have PIP's silicone gel-filled implants get them removed by their surgeons after the implants appeared to have an unusually high rupture rate.

FDA Warned PIP on Breast Implant Safety

As early as 2000, U.S. health authorities raised concerns about the French breast implant maker at the heart of a scandal affecting hundreds of thousands of women worldwide. That was almost ten years before the company came under scrutiny from European regulators.
Mengniu said it destroyed a batch of products at a plant in the southwestern province of Sichuan which contained aflatoxin, a substance produced by food fungus that can cause severe liver damage, including liver cancer.

Tainted Milk Destroyed, says China's Mengniu

China Mengniu Dairy Co Ltd, the nation's biggest dairy firm, said it had destroyed milk found to be contaminated with a cancer-causing substance, the latest food safety problem to hit the country's dairy industry.
Newt Gingrich

Court Documents Contradict Gingrich's Claims of First Divorce

Newly emerged Court documents contradict Republican Presidential candidate Newt Gingrich's assertion regarding his first divorce. Newt Gingrich who is constantly on fire over his personal history has continuously maintained that it is his first wife Jackie Gingrich, who asked for divorce first and not him. His campaign website under the head Answering Attacks-Personal life says that it is Jackie Gingrich who requested for a divorce, quoting their daughter Jackie Gingrich Cushman's ...
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ASUS Transformer Prime: Latest Update on Delivery

The first release of Transformer Prime is on the way into the U.S partner stores, and more will be available and shipped as and when possible over the next few weeks as confirmed by a spokesperson for ASUS.
Lady Gaga

Lady Gaga Sued: Ex-Assistant Claims Overworked, Underpaid

Jennifer O'Neill, 41, alleges that Lady Gaga, 25, owes her hundreds of thousands of dollars in back pay. Lady Gaga, whose real name is Stefani Germanotta, apparently employed O'Neill for 13 months in 2010 as her personal assistant during the pop icon's 2010 Monster Ball world tour.
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Sky Metalwala Missing: New Details Emerge

Investigations into the disappearance of Sky Metalwala, 2, have uncovered photographs of the boy with bruises on his body, along with a suicide note written by his mother, Julia Biryukova, and sent to his father, Solomon Metalwala, as a text message in March 2010.
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Teenaged Daughter of Judge Found Dead at Home

Isobel Narayan, teen-aged daughter of a judge was found dead in her home. The 16-year-old was found by her parents in the bedroom of her family's £400,000 four-bedroom home in Didsbury, Greater Manchester, last Sunday, reports Mirror. The cause of the death is not known and the circumstances also do not seem to be suspicious. However, tests are being carried out to see if her life has been claimed by Sudden Adult Death Syndrome (SADS).
GoDaddy.com

GoDaddy No Longer Supporting SOPA Legislation

GoDaddy, a giant domain name registrar, has announced that it is no longer supporting the Stop Online Piracy Act otherwise known as SOPA, which is now making its way through U.S. Congress.

China to try another dissident for subversive online essays

China will try a veteran dissident, Chen Xi, on charges of inciting subversion for pro-democracy essays he published online, his wife said on Sunday, days after another dissident was jailed for nine years on similar charges.
Suffolk County Police image shows the locations where eight of 10 bodies were found near Gilgo Beach since December 2010

Long Island Eye: Where are Nassau and Suffolk Headed in 2012 and Beyond?

What’s ahead for 2012? Obviously, change, some for the better and others for worse. Fortunately, the Island’s unemployment rate fell to 6.7 percent from 7.2 percent a year ago, the state labor department said. But its principal Long Island economist, Michael Crowell, said that may reflect a declining work force, with too many “discouraged workers” who’ve given up looking.
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RIM Now Faces Legal Challenge on 'BBM' Trademark

Research In Motion, still smarting over having to change the name of its yet-to-come operating system, faces a similar trademark challenge to its popular instant-messaging service BlackBerry Messenger.

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