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.
The winner of 2014 TechCrunch Disrupt Europe startup Battlefield announced its seed funding round. Crate announced the funding on Tuesday.
Share prices of WPP have been witnessed to rise by 98% between 2011 and 2015. Acknowledging WPP CEO Sir Martin Sorrell’s efforts, the world’s largest ad firm is going to announce £60 million Pay Package for him. But the ad agency’s move may again face opposition from the shareholders following earlier precedence.
French energy company Electricité de France SA asked for financial support from French government. The company is facing problem in a £18 billion ($25 billion) nuclear power plant project in Sommerset, England.
Uber allows alternative measure of getting expensive taxi driving licenses and offers low cost ride to the lower income people. But Moscow, unlike some other countries with stricter transportation laws, prohibits such service. Moscow has been persuading for long and finally gets success in compelling Uber to sign agreement which limits its service to the licensed drivers only.
New York-based Avon Products Inc is shifting its headquarters to the UK. It's also in the process of reducing headcount by about 2,500 and investing in technology and innovation to enhance sales volume.
Commercial banks in northern Europe criticized ECB for its four-year cheap loan policy and stimulus program. The policy was aimed to stimulate growth for banks that struggle in southern part of Europe.
Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.
George Osborne has over-shoot the borrowing forecast due to weak economic outlook and poor tax receipts. In order to achieve his self imposed goal, he has been left with only two options for his 2016 budget- cut public expenses or increase taxes. However, the UK chancellor has hinted opting for reducing public expenses while addressing the BBC’s Marr Show.
Scottish First Prime Minister Nicola Sturgeon said in an interview that the country’s economy remains strong even amid challenges that she acknowledges. She expects that the huge deficit would be manageable after separation.
Diagio Plc, British liquor major, says it paid $40 million to trouble-ridden Indian businessman Vijay Mallya. This comes close on the heels of an order by Debt Recovery Tribunal (DRT) not to pay Mallya any amount.
Citigroup has established a new asset management group to offer varied solutions and services to richest investors across the world. The new global asset management group will function within investment banking business and it'll bring several segments together.
A European Union rule requires prior notification to itself in restricting social information service. The rule also bars targeting a specific service. A French court has overturned a government order on Uber’s geo-localization service citing the two grounds. The verdict appears as a victory for Uber while challenging through a flurry of appeals both in France and at the EU level.
Michael Horn is stepping down as CEO of Volkswagen Group of America. Hinrich J. Woebcken will act as an interim CEO for Volkswagen Group of America from 1 April 2016 onwards.
E.ON incurred losses has doubled in 2015 and forecasts for a gloomy 2016 due to historic low energy tariff and transformation of Germany towards renewables. Tremendous growth in the subsidized sector has forced the conventional energy firms to squeeze their businesses. Following the industry trend, E.ON has also planned for transformation focusing on renewables.