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.
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.
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.
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.
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
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.
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.
LONDON, June 30 (Reuters) – Monday was the day the music
died for thousands of song downloaders and music streamers in
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.
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.
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
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.
LONDON (Reuters) – The European Union has more work to do, experts say, if it hopes to seal a transatlantic trade deal that has been criticized for leaving governments open to international legal action from companies affected by changes to tax and regulation.
The European Commission, the EU’s executive arm, is right now negotiating a trade and investment treaty with the United States – the Transatlantic Trade and Investment Partnership (TTIP) – that it says could add 119 billion euros annually to Europe’s economy and 95 billion euros to the U.S. economy.