The attention this week on the ability of Apple and other prominent American corporations to avoid corporate taxes through offshore tax arrangements obscures a perhaps more significant development, highlighted by Luxembourg's abrupt retreat from banking secrecy, the NYT reports.» Read More
THE SPARK: Excluding one-time items, Velti posted a loss of 27 cents per share. Velti projected second-quarter revenue of between $42 million and $45 million, below Wall Street predictions of $54.3 million.
BRUSSELS, May 14- European Union finance ministers approved a 7.3 billion euro increase in the bloc's spending for 2013 on Tuesday, as part of a deal to unblock talks on the EU's next long-term budget. "With a view to securing the multi-annual budget, we agreed the spending increase for 2013," said Michael Noonan, Ireland's finance minister who chaired the talks.
BRUSSELS/ PARIS, May 14- France has secured backing from other EU member states for the exclusion of the movie and television industries from a proposed free-trade pact between Europe and the United States that it fears could threaten European culture.
MADRID, May 14- Order dockets found in the rubble of a Dhaka garment factory where over 1,100 workers died show just why it pays foreign stores to buy from Bangladesh- clothes made for as little as a tenth of what they sell for in the West.
Poland is forecast to grow in line with crisis-mired Ireland this year, as euro zone woes hit Eastern Europe.
Barry O'Leary, CEO of IDA Ireland, discusses what makes Ireland such "a business-friendly" country, from the low "transparent" corporate tax to the other incentives.
BRUSSELS, May 13- Cyprus and Malta have a lot in common: Mediterranean islands enjoying 10 months of sunshine a year, they joined the European Union in 2004, use the euro and have banking sectors that dwarf their economies.
NEW YORK-- Shares of Warner Chilcott PLC rose before Monday's opening bell on optimism that it will eventually reach a deal to combine with fellow drugmaker Actavis Inc..
DUBLIN, May 13- Irish drugmaker Elan Corporation has agreed a $1 billion royalties deal that could soothe concerns about its potentially risky acquisition strategy and fend off a takeover bid from Royalty Pharma.
Elan stepped up its bid to keep its independence on Monday by agreeing a $1 billion deal to buy 21 percent of the royalties that U.S. company Theravance receives from GlaxoSmithKline.
*Elan to acquire newly approved Breo as part of $1 bln deal. DUBLIN, May 13- Elan stepped up its bid to keep its independence on Monday by agreeing a $1 billion deal to buy 21 percent of the royalties that U.S. company Theravance receives from GlaxoSmithKline for its respiratory drugs.
*UAE would pay up to 80 percent of the operating costs. The United States has pre-clearance centers at 15 locations in Canada, Aruba, Bermuda, the Bahamas and Ireland, according to the U.S. Customs and Border Protection website.
WASHINGTON, May 10- An agreement to extend U.S. customs pre-clearance operations to Abu Dhabi International Airport in the United Arab Emirates has drawn criticism from a group of U.S. senators, who are pressing for more information on the pact.
LONDON, May 9- A panel of UK lawmakers will next week grill representatives from Google Inc and its auditor, Ernst& Young, following a Reuters report that highlighted inconsistencies in Google's statements about its UK activities.
LONDON, May 9- A panel of UK lawmakers will next week grill representatives from Google Inc and its auditor Ernst& Young, following a Reuters report which highlighted inconsistencies in Google's statements about its UK activities.
*Outsourcing sector defies recession in Portugal. *Global leaders in Portugal, Portuguese firms expand abroad. He earns 700 euros a month, 200 euros more than previously, plus bonuses, and the company covers his rent- a rare perk in Portugal.
BRUSSELS, May 8- In June last year, European Union leaders made a great fanfare of committing to' banking union', a three-step plan to shore up the region's 8,000 banks and prevent a repeat of the debt and financial crisis.
LONDON, May 7- Politicians in Germany and France say they will press for Google Inc to be quizzed on corporate income tax after a Reuters report highlighted how the company employs sales staff in the UK while telling the tax authorities that sales are made from Ireland.
DUBLIN, May 7- Ireland has another week to try to reach an agreement with public sector unions over a pay deal seen as crucial to helping avoid industrial unrest after a minister granted an extension to Tuesday's deadline.
BERLIN, May 7- German Finance Minister Wolfgang Schaeuble signalled a softer stance on European banking union on Tuesday, saying that rather than waiting for a treaty change, governments should coordinate policies on closing banks.