The law firm at the heart of the "Panama Papers" scandal was in lockdown on Monday, with private security guards keeping a small but growing pack of news photographers and cameramen at bay. The bland, mirrored exterior of the building housing the Mossack Fonseca firm in Panama's main banking zone sits back upon a tidy lawn. Revelations from a massive dump of leaked data from Mossack Fonseca's servers detailing how the world's wealthy -- politicians, footballers and some criminals -- used its lawyers to set up offshore companies is sending shock waves around the world.
By Luciana Lopez NEW YORK (Reuters) - Democratic presidential hopefuls Hillary Clinton and Bernie Sanders vowed to nominate Latinos into key cabinet posts in their administrations if elected, according to their answers to a questionnaire organized by the nation’s largest Latino coalition. The 20-question survey was submitted by the National Hispanic Leadership Agenda to all U.S. presidential candidates on Feb. 25, but received responses only from the two Democratic contenders and none from the Republicans, according to the results reviewed by Reuters. Latinos and African-Americans have emerged as key voting blocs in the Democratic race for the White House nomination so far, and are likely to play a large role in the outcomes of big contests looming in New York and California.
By Kylie MacLellan and Elida Moreno LONDON/PANAMA CITY (Reuters) - Governments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday after a leak of four decades of documents from a Panamanian law firm that specialized in setting up offshore companies. The "Panama papers" revealed financial arrangements of global politicians and public figures including friends of Russian President Vladimir Putin, relatives of the prime ministers of Britain, Iceland and Pakistan, and the president of Ukraine. While holding money in offshore companies is not illegal, journalists who received the leaked documents said they could provide evidence of funds hidden for tax evasion, money laundering, sanctions busting, drug deals or other crimes.
Mossack Fonseca, the Panama-based law firm at the heart of the "Panama Papers" scandal, is a discreet outfit with a roster of big-name clients and a quiet reputation for hiding money from the tax man. Politicians, sports stars, celebrities -- many were named in the 11 million pages of documents, according to information starting to be released by the International Consortium of Investigating Journalists (ICIJ), which is parsing the data. The revelation detailing the off-shore structures of many wealthy clients is a "crime" and an "attack" on Panama, the law firm maintains.
The anti-Islamic State coalition conducting airstrikes in Iraq and Syria has killed the IS militant believed responsible for an attack on U.S. troops in northern Iraq last month that left a Marine dead, it said on Sunday. Militant Jasim Khadijah, a former Iraqi officer not considered a high-value target, was killed by a drone strike overnight in northern Iraq, coalition spokesman U.S. Army Col. Steve Warren told reporters in Baghdad. "We have information (that) he was a rocket expert, he controlled these attacks," said Warren, referring to the shelling of a base used by U.S. troops near the town of Makhmour, located between Mosul and Kirkuk.
By Caroline Humer NEW YORK (Reuters) - Major drug companies took hefty price increases in the U.S., in some cases more than doubling listed charges, for widely used medications over the past five years, a Reuters analysis of proprietary data found. Together, the price increases on drugs for arthritis, high cholesterol, asthma and other common problems added billions in costs for consumers, employers and government health programs. Extraordinary price hikes by two small companies, Turing Pharmaceuticals and Valeant Pharmaceuticals International Inc , drew new attention to drug costs.
Alaska Air Group Inc said on Monday it had agreed to buy Virgin America Inc for $2.6 billion to expand its flights on the U.S. West Coast. Alaska Air said in a news release that the merged airline will become the fifth largest in the United States and will help it compete against larger rivals for lucrative business and international travelers visiting San Francisco and Los Angeles as well as Seattle, where the company is based. The acquisition will herald the first U.S. commercial airline merger since US Airways and American Airlines combined in 2013 to form the world's largest carrier.
By Dasha Afanasieva and Karolina Tagaris DIKILI, Turkey/LESBOS, Greece (Reuters) - Migrants sent back from the Greek island of Lesbos began arriving in Turkey on Monday under a disputed European Union scheme aimed at closing the main route by which a million people poured across the Aegean Sea to Greece in the last year. Under a deal denounced by refugee agencies and human rights campaigners, Ankara will take back all migrants and refugees who enter Greece illegally, including Syrians, in return for the EU taking in thousands of Syrian refugees directly from Turkey and rewarding it with more money, early visa-free travel and progress in its EU membership negotiations.
Close aides of Russian president Vladimir Putin are among those whose assets feature in a vast expose of tax havens published Sunday after a year-long investigation into 11.5 million leaked documents. The assets of around 140 political figures -- including 12 current of former heads of states -- are mentioned in the revelations, according to the probe by the International Consortium of Investigative Journalists (ICIJ) and German daily Sueddeutsche Zeitung. The investigation yielded 11.5 million documents from around 214,000 offshore entities, the ICIJ said on its website.
By Paul Lienert DETROIT (Reuters) - Tesla Motors Inc said orders for its new Model 3 electric sedan topped 253,000 in the first 36 hours -- a fast start for the company's first mass-market vehicle, which may not begin to reach customers for another 18 months or more. Tesla Chief Executive Elon Musk tweeted on Friday that the Model 3, which is slated to go into production in late 2017, will sell at an average price of $42,000, including the price of options and additional features, which would give the initial flurry of orders an estimated retail value of $10.6 billion. The car's average selling price projected by Musk is well above the $35,000 base price.