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Joe Hockey announces new move against multinational tax evaders
September 4th, 2014
Multinational companies who seek to avoid Australian tax but also charge disproportionately higher prices here are in the sights of a new crackdown. Joe Hockey has told parliament the Commissioner of Taxation has been asked to “double his efforts” ...
WEF: UK moves up global economic list
September 3rd, 2014
The UK has edged up the global rankings in a major annual economic survey by the World Economic Forum (WEF). Its Global Competitiveness Report sees the UK rise one spot to ninth on the list, while Switzerland and Singapore ...
Chinese Company’s Shares Suspended on Critical Report
September 2nd, 2014
Trading in shares of Tianhe Chemicals, which raised about $650 million in a Hong Kong listing in June, was suspended on Tuesday morning after a report on a website affiliated with short-sellers described the company as “one of the ...
India Recommends Canceling 172 Coal Mining Permits
September 2nd, 2014
India proposed cancelling 172 unused permits to mine coal, while allowing 46 operational mines to keep working to address a Supreme Court ruling that struck down all coal-mine allocations made since 1993. The government is prepared to auction off ...
HMRC plans to break up multi-billion IT contract
September 1st, 2014
A plan by HMRC to split its multi-billion pound IT contract into smaller parts may worsen the service, the Public and Commercial Services (PCS) Union has said. The Times reported this week that the tax department is planning to ...
A New American Oil Bonanza
August 29th, 2014
The United States now accounts for 10% of the world’s oil production. As it sharply curtails imports from countries like Angola and Nigeria, those producers are then compelled to sell their oil to China and other Asian markets at ...
Bulgaria may let Corpbank depositors get partial access to accounts
August 29th, 2014
Depositors at Bulgaria’s Corporate Commercial Bank (Corpbank) 6C9.BB may get partial access to their funds at the troubled bank in September, Interim Finance Minister Rumen Porozhanov said on Friday. “We debated issues of partial access to deposits as of ...
FSA takes administrative action against Kookmin Bank
August 28th, 2014
The Financial Services Agency (FSA) has taken some administrative actions against Kookmin Bank, Japan Branches. Following its on-site inspection and the report prepared by the Japan Branches based on Article 24, paragraph 1, and Article 48 of the Banking ...
Wachtell to pursue Deloitte in HP Autonomy row
August 28th, 2014
Wachtell Lipton Rosen & Katz is to pursue Deloitte on behalf of Hewlett-Packard (HP) in an escalation of the company’s row with software firm Autonomy over its doomed 2011 acquisition. Wachtell partner Marc Wolinsky told a San Francisco court ...
PwC must face $1 billion lawsuit over MF Global advice
August 28th, 2014
A federal judge on Wednesday ordered PricewaterhouseCoopers to face a $1 billion (603 million pounds)lawsuit claiming that its bad accounting advice was a substantial cause of the October 2011 bankruptcy of MF Global Holdings Ltd, a brokerage run by ...
