Europe, Middle East and Africa Oil and Gas Correspondent
Tom's Feed
Oct 30, 2015

Small EU team leads tax battle against corporate goliaths

LONDON/BRUSSELS, Oct 29 (Reuters) – A small team of European
Union officials is spearheading an investigation that could
force some of the world’s biggest companies to pay billions of
euros in avoided taxes.

In an office block in one of Brussels’ less fashionable
districts, the 10 Competition Directorate staff from across the
bloc have spent two years poring over hundreds of deals agreed
between companies and member-states’ tax authorities.

Oct 10, 2015

Fear and respect: VW’s culture under Winterkorn

BERLIN/LONDON (Reuters) – Like many chief executives, Martin Winterkorn was a demanding boss who didn’t like failure. But critics say the pressure on managers at Volkswagen was unusual, which may go some way to explaining the carmaker’s crisis.

Three weeks after it admitted to cheating U.S. emissions tests, Europe’s largest carmaker is under pressure to identify who exactly was responsible.

Oct 6, 2015

Companies prepare to meet new global tax rules: survey

LONDON (Reuters) – Big companies are planning to overhaul their tax arrangements to comply with proposals for new global tax rules even before they become legally enforceable, according to a Thomson Reuters-Euromoney survey of 180 tax professionals across 35 countries.

The Organisation for Economic Co-operation and Development (OECD) was asked in 2012 by the Group of 20 nations with the world’s biggest economies to look into closing off the ways that multi-national corporations can avoid paying tax on their profits and published its proposals on Monday.

Oct 5, 2015

New global tax proposals target corporate tax dodging

LONDON, Oct 5 (Reuters) – The body that advises industrial
nations on economic policy published proposals on Monday to
overhaul the way international companies are taxed in an effort
to tackle avoidance.

Tight government finances and media reports on the tax
structuring used by companies including Starbucks and Google
have spurred significant public anger in Europe and the United
States in recent years over tax avoidance.

Aug 28, 2015

Popular fears aside, businesses often eager for migrant workers

LONDON (Reuters) – Raghad al Sous braved bombings in Syria to keep studying at school before fleeing in 2013 to rejoin her mother, who had been granted refugee status in Britain.

She is now about to start studying at university with the hope of becoming a hospital pharmacist.

Aug 4, 2015

European CEOs shrug off Greece, see recovery gaining pace

LONDON, Aug 4 (Reuters) – Businesses in Europe said a weak
euro, cheaper oil and the European Central Bank’s easy money
policies drove a continued improvement in profitability in the
second quarter, encouraging some companies to invest and hire
more.

Chief Executives of some of the biggest U.S. and European
companies told investors in recent weeks the region was
experiencing a sustained recovery, helped by a turnaround in
southern Europe, which had been a drag for years.

Jul 31, 2015

Western companies look hard at China as growth slows

LONDON (Reuters) – The Chinese slowdown is forcing many Western companies to take a hard look at their businesses there, leading many to reduce investments, costs and product lines and to tackle increasing bad debts.

Double digit growth rates during the first decade of the millennium lured scores of Western companies to invest heavily in China. But in recent years growth has slowed sharply, hitting demand and raising doubts about the financial health of Chinese companies.

Jun 30, 2015

Capital controls mean Greeks can click, but not buy

LONDON, June 30 (Reuters) – Monday was the day the music
died for thousands of song downloaders and music streamers in
Greece.

The imposition of capital controls on Sunday evening means
Greeks are no longer able to purchase goods or services from
many big international online suppliers including Google
, Apple and Facebook.

Jun 19, 2015

Exclusive: Citigroup to shift European retail banking base to Dublin

LONDON (Reuters) – Citigroup (C.N: Quote, Profile, Research, Stock Buzz) is planning to shift the head office of its European retail banking operation to Dublin from London to benefit from lower costs and capital requirements.

This week the bank wrote to clients to say the UK-based business, Citibank International Limited, which operates a small number of branches across some 20 European countries, would be taken over by Dublin-based Citibank Europe Plc.

Jun 19, 2015

Citigroup to shift European retail banking base to Dublin

LONDON, June 19 (Reuters) – Citigroup is planning to
shift the head office of its European retail banking operation
to Dublin from London to benefit from lower costs and capital
requirements.

This week the bank wrote to clients to say the UK-based
business, Citibank International Limited, which operates a small
number of branches across some 20 European countries, would be
taken over by Dublin-based Citibank Europe Plc.

    • About Tom

      "Tom leads our coverage of the oil and gas industry in Europe, the Middle East and Africa and is also author of 'Spills & Spin: The Inside Story of BP'. A former oil broker who turned to journalism 12 years ago, he is regularly interviewed on CNBC and other TV and radio stations on energy matters. Tom has reported from over twenty countries including Iran, Iraq, India, Pakistan, Tanzania, the U.S. and Russia. As Europe, Middle East and Africa Oil & Gas Correspondent, he has chartered the rise in oil prices to record levels, interviewed oil ministers and the CEOs of ..."
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