Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia were mixed in Tuesday morning trade as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Chinese President Xi Jinping will travel to North Korea this week for a two-day visit, ahead of a possible meeting between Xi and President Donald Trump at next week's G-20...Politicsread more
The Pentagon said that the crew of one of the tankers, the Japanese Kokuka Courageous, found an unexploded limpet mine on its hull following an initial explosion.Politicsread more
Despite the popularity of companies like Beyond Meat and Impossible Foods, meat consumption around the world continues to rise.Food & Beverageread more
Electronic material that Infowars host Alex Jones turned over to families of Sandy Hook Elementary School shooting victims who are suing him contained images of child...Politicsread more
Facebook's reported move into cryptocurrency could amount to the biggest catalyst for digital assets in their decade-long history, some crypto investors say.Bitcoinread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Eleven banks that lend to shipping lines announced Monday that climate impact will be integrated into the criteria that determines how much shipping companies can borrow, an...Transportationread more
Florida businessman Barry Honig agreed to a proposed judgment with the SEC in a case it called "classic pump-and-dump schemes," according to Monday filings.Crimeread more
BRUSSELS, Feb 12 (Reuters) - Finance ministers from smaller European Union states on Tuesday opposed a plan to limit governments' power to block EU reforms on tax matters, in a move that further reduces the chances of introducing an EU levy on large digital firms.
EU countries with smaller populations have for years blocked efforts to narrow loopholes that allow tax evasion and in some cases even money laundering in the bloc.
Many of them defend their right to decide their own tax laws and attract foreign business by offering sweeteners.
In an attempt to break the deadlock, the EU executive commission proposed last month to gradually remove the veto power that states wield on the overhaul of tax rules.
But at the meeting in Brussels, Luxembourg, Malta, Lithuania, the Netherlands and Sweden called for maintaining their veto power. The opposition of only one of them would be sufficient to block the planned overhaul in the whole 28-nation bloc.
The Commission had proposed to gradually move to majority voting on some minor tax issues, but crucially permitted states to decide on this structural reform by unanimity.
The Commission, led by Luxembourg's former prime minister Jean-Claude Juncker, declined to use a neglected rule that would allow tax reforms to be adopted by a majority, a move that could have effectively ended the veto power when competition is distorted.
Luxembourg's Finance Minister Pierre Gramegna was among the most vocal of those against the reform proposed by the Commission. He told reporters that to preserve the unanimity on tax decisions was "extremely important".
The tiny state wedged between Germany and France for years blocked EU anti-tax evasion rules that require the exchange of information on bank accounts held by foreign citizens.
It is also one of the staunchest opponents to the introduction of a common tax base in the EU that would limit countries' power to offer sweeteners to large corporations.
Other smaller states, led by Ireland, have blocked a common tax on digital revenues. This has pushed several countries, including France, Italy and Spain, to adopt similar levies at national level, despite risks this could weaken the EU market.
A new attempt for a watered-down EU-wide digital tax could be made in coming weeks, but has little chance of succeeding.
In proposing an EU-wide digital tax last year, Brussels said the levy was needed to restore fair competition in the bloc and end practices that allow large multinationals such as Google , Facebook or Amazon to cut their tax bills by moving their continental profits to low-tax countries such as Luxembourg or Ireland.
Germany and France, the two largest states in the EU, supported the commission's plan to decide by majority on some tax matters. In a joint news conference with his French peer, German Finance Minister Olaf Scholz said the reform was needed to improve decision-making in the EU. (Reporting by Francesco Guarascio; Editing by Alison Williams)