The European Commission ruled on Wednesday that Starbucks Corp and Fiat Chrysler Automobiles benefited from illegal tax deals with the Dutch and Luxembourg authorities, sending shock waves to MNCs who have been using such profit-shielding tax deals in the past.
Tags: European Commission
EU Resumed Investigation on Halliburton and Baker Hughes Deal
European Union antitrust regulator resumed its review on the takeover of Baker Hughes by Halliburton. European Commission plan to reach decision in August whether to approve or veto the deal.
Three Promised to Surpass Coverage Requirement After Acquisition of O2
CK Hutchison promise to extend coverage in the UK. European Commission are currently investigating whether to approve the acquisition or not.
EU grills Google, Apple, other US firms over tax issues
European legislators have started grilling multinational companies such as Google, Apple, Alphabet and McDonald's. European nations are feeling the heat of mounting political pressure to check tax evasion by foreign multinational companies.
Cheaper Chinese imports, sluggish demand force Tata Steel to slash 1,050 jobs in UK
India-based Tata Steel is reducing manpower by 1,050 in the UK operations. Tata Steel is among other steel producers suffering from falling steel prices and cheaper imports from China. The UK steel industry is urging European Commission to take necessary action against unfair trade imports.
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By the middle of next year, Greece will go back to its economic growth only if the government will give importance and devoted attempt to reacquire financial strength.
The first two days of Greek market activity saw nothing but bloody reds as the Athens Stock Exchange witness massive selloffs from foreign investors unrestricted by current capital controls that limit withdrawals from local banks to a measly €60.
European Union reform of the securitized debt market to help to revive the region's economy is likely to be binding on member countries to speed up change, a senior official from the bloc's executive body said on Tuesday.
China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters - Beijing's latest round of chequebook diplomacy to win greater influence.
General Electric Co (GE.N) said on Monday for the first time it would be willing to consider concessions in order to win European approval to acquire the power equipment unit of France's Alstom (ALSO.PA).
Ukraine's Naftogaz [NAFTO.UL] Chief Executive Andriy Kobolev will seek rapid progress on a deal to secure gas from Russia for the next 12 months in talks brokered by the European Commission in Berlin next week.
The European Union has backed Euratom's decision to block Hungary's 12 billion euro nuclear deal with Russia, a move that could worsen the situation between the Kremlin and Brussels, the Financial Times reported.
EU finance ministers agreed the details of a 315 billion euro ($338 billion) investment plan on Tuesday to help revive the European economy without piling up more debt, and now aim to get the first projects going by the end of the year.
Germany wants Greece's new left-wing government to go back on anti-austerity promises made in its first days in office and revert to economic policies its predecessors' agreed with international lenders, a document showed on Wednesday.
