Switzerland is set to bow to years of pressure from the EU by overhauling the system of tax privileges that has helped entice thousands of multinational firms to the country.» Read More
*Singapore to sign OECD convention on tax matters. *Singapore finalising FATCA agreement with United States. SINGAPORE, May 14- Singapore, the world's fourth-biggest offshore financial centre, said on Tuesday it will adopt new measures to make it easier to share information on potential tax evaders with other countries, including the United States.
*Singapore to sign OECD convention on tax matters. SINGAPORE, May 14- Singapore, the world's fourth-biggest offshore financial centre, said on Tuesday it will adopt new measures to make it easier to share information on potential tax evaders with other countries.
SINGAPORE, May 14- Singapore, the world's fourth-biggest offshore financial centre, said on Tuesday it will adopt new measures to make it easier to share information on potential tax evaders with other countries.
May 13- Transocean Ltd said on Monday that Chairman Michael Talbert will step down later this year, in a move that comes just days before the culmination of a fight between the offshore driller and investor Carl Icahn in which Talbert was a target.
*Purchase would have given it access to North Sea gas. GENEVA, May 13- Swiss trading house Vitol has dropped plans to bid for Canada- listed oil and gas producer Sterling Resources, Sterling said on Monday, after talks stalled over price.
Transocean Ltd. said Monday that J. Michael Talbert plans to retire as chairman of the oil drilling company's board by November. The move comes amid intense pressure on Transocean from billionaire investor Carl Icahn, who is seeking shareholder approval for his own slate of board nominees and a higher dividend from the company.
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..
*Late payment hitting southern Europe harder than the north. *Business confidence down across Europe. Against the backdrop of the economic downturn and restricted bank lending in Europe, experts fear that the mountain of unpaid bills will drive up insolvency and job losses, reduce cross-border trade and snuff out any recovery.
*China oil demand falls in April to eight month low. *Oil flow on Kirkuk- Ceyhan pipeline resumes-sources. LONDON, May 13- Crude prices slipped towards $103 a barrel on Monday as oil demand in the world's second-largest consumer China fell to eight-month lows, weighing on the global outlook for the fuel.
Rents were more than four times the rate in similar areas in London and Paris, according to a report by global property advisor CBRE Group Inc.. In some markets, such as Hong Kong and London, the sky-high rents have prompted some newcomers to look nearby. Europe's prime retail markets followed, with London at $1,053 per square foot, and Paris at $1,050 per square foot.
Swiss bank secrecy has come under fire, particularly from the United States, France and Germany, since the financial crisis. Switzerland agreed in 2009 to share more information with foreign authorities hunting tax cheats on request, but until now has rejected an automatic exchange of data.
Companies like Pfizer Inc and AstraZeneca have grown dependent on higher U.S. prices to generate profits as generic rivals to their best-selling medicines enter the world market, Europe's government-run health plans clamp down on spending and sales growth in emerging markets stutters.
*Copper rises, bucking trend, as metal stockpiles drop. *Grains tumble after USDA crop data tops market forecasts. Copper bucked the trend, closing up for the day and a third straight week, as stockpiles of the metal fell in warehouses monitored by trading exchanges in London and Shanghai.
*OPEC boosts 2013 oil demand forecast. NEW YORK/ LONDON, May 10- Crude futures on both sides of the Atlantic lost ground on Friday as rising fuel supplies and a stronger dollar put oil under pressure. By 12:39 p.m. EDT, Brent futures were $1.81 lower at $102.66 a barrel, after falling as to a low of $101.56.
BRASILIA, May 10- Brazil campaigned hard to get the top job at the World Trade Organization this week but behind closed doors even it acknowledges that the WTO's main mission- pushing forward in global trade talks- looks for the moment like a lost cause.
*Nagging doubts on China recovery. LONDON, May 10- Brent crude tumbled towards $102 a barrel on Friday as rising fuel supplies and a stronger dollar put oil under pressure. Brent was down $2.11 at $102.36 a barrel by 1356 GMT.
LONDON, May 10- Vitol, the world's largest oil trader, has agreed to purchase one of Britain's largest and most modern power plants from Phillips 66 as it builds on a strategy to invest in physical assets.
*SolarWorld shares rise, China's Suntech stock falls. BRUSSELS, May 9- The European Commission agreed to impose punitive import duties on solar panels from China in a move to guard against what it sees as dumping of cheap goods in Europe, prompting a cautious response from Beijing which called for further dialogue.
NEW YORK-- Offshore rig owner Transocean lowered its full-year capital expenditures forecast on Thursday, because of a change in the timing of payments on rigs being built.
BROOMFIELD, Colo.-- Vail Resorts Inc. is adding Arlberg, Austria, to the list of places where holders of its Epic Pass can ski. It previously said the pass would include five days at Verbier, Switzerland, up from three this past season, plus newly added access to the Eldora ski area near Boulder, Colo..