Itau Unibanco Holding SA will contest tax charges amounting to BRL18.7 billion (USD7.9 billion). Latin America's largest bank in terms of market value, Itau Unibanco Holding SA received tax charges amounting to BRL18.
Industry
Survey reveals higher levels of investor sentiment in Germany
The Center for European Economic Research reported increased levels of investor sentiment in August.
PCAOB proposes detailed audit reports
The Public Company Accounting Oversight Board gave a new proposal allowing auditors to give their commentary on "critical audit matters" in their audit reports.
Procter and Gamble recalls dry pet food for salmonella contamination
The Procter & Gamble Company voluntarily recalled some lots of its Eukanuba and Iams dog and cat foods for possible Salmonella contamination.
Increase in retail sales sign of better US economy
Retail sales in the US rose in July, signifying better times for the US economy. The Commerce Department revealed that US retail sales rose to 0. 2% in July.
Latest News
The European commission seek to prove that the Belgian aid to Wallonia airports was illegal. The European Commission (EU) called for an investigation into the Belgian aid for several airports in the Wallonia region.
The US Securities and Exchange Commission approved the takeover by IntercontinentalExchange of NYSE Euronext.
Cuadrilla Resources suspended its oil drilling exploration in Balcombe as anti-fracking protests intensified.
Land auction for the economic zone in Shenzhen failed to draw property developers from Hong Kong. Despite the hype that accompanied the economic zone development in Shenzhen, Hong Kong property tycoons were not lured to bid in the recently-completed land auction.
Russian media that reported Rostelecom would be offering a 30% buyback of its shares worth USD 909 million from its minority stakeholders.
The Philippine Department of Transportation and Communications said it is eyeing the possibility of rebidding the LRT-1 Cavite extension project under revised terms.
China Resources Land Ltd bagged the right to buy a commercial site in Shenzhen for USD 1.8 billion. China Resources Land Ltd won the right to buy a commercial site in Shenzhen.
Japan Tobacco International said they will continue to grow in the Philippines despite higher taxes on cigarettes.
Retail company Macy's blamed shoppers' current spending habits for its second quarter sales.
