Green Party has accused IKEA for dodging tax up to €1 billion ($1.13 billion/ £776 million). MEP has taken the allegation into cognizance and pledged for studying the report and related findings. However, the Swedish furniture giant has rejected the tax evasion allegations and claims for no wrongdoings.
Regions
The Reason Behind Google's $1 Billion Investment in SpaceX Last Year
Google made a big investment last year to SpaceX, as a mean to help the company build space-based internet communication system. Meanwhile, SpaceX is scheduled to launched by February 24.
Whole Foods to trim costs, shifting biz focus
Whole Foods Market Inc is in the process of cost reduction. To promote sales volume, it's offering discounts and building relations stronger with suppliers. Whole Foods is expecting a savings of $300 million annually.
Philippine Airlines Plans For Purchasing New Planes, Eyes For Five Star Status
The Southeast Asian air market has been occupied mostly by the budget carriers of this region. Ignoring the odd, Philippine Airlines has been rumored to announce for order for new planes. The carrier has designed a roadmap to elevate its status to five stars through the rumored expansion.
Google Announced to Hire Manufacturing and Engineering Jobs for Autonomous Car Division
Alphabet Inc., the parent company of Google will expand its Google X Car project. The company announced to hire more expert in manufacturing and engineering to bring its self-driving car into the market.
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The center of life-saving drug price hike controversy, Martin Shkreli tried to made himself in the news again. He claimed that he was scammed for $15 million for the new album of Kanye West "Life of Pablo."
In a plan to boost sales, Tesla increased the price of its after sales service. The company also prevent Tesla owners to transfer their extended warranty when reselling their cars.
Groupo BTG Pactual SA has been witnessed to tatter due to decrease in asset value it manages. To maintain the cash flow and remain profitable in the slower economy of Brazil, the Sao Paolo based bank has adopted some cost-cutting measures including job and bonus cuts.
U.S. sold Pakistan eight F-16 fighter jets that deeply disappoints India. It was told that Pakistan will use these jets to counter terrorism and defend their country but India doesn't believe so and thinks that it will be used against them instead.
Boeing has been reported to wait for approval pending with the US government regarding purchase of F/A-18 jets by the Navy and Kuwait. Delay in approving funds has become a growing concern. Further delay in rendering approval may compel in Boeing authority to decide hundreds of millions dollar fund to keep its Saint Louis plant operative.
Anthony Foxx is expected to sign a deal in Havana on Tuesday. The deal will allow resumption of commercial flights between the two countries. All the major airlines are expected to take part in the bidding of commercial flights towards different destinations of Cuba.
Facebook has introduced an app naming Free Basics in collaboration with Reliance group. Due to allegations for violating net neutrality, TRAI has instructed Reliance group to restrict access into Free Basics till completion of the investigation over its legal aspects. But industry insiders believe, Facebook may reappear with greater vicinity anytime soon.
Brian T. Moynihan, the CEO of BOA has been awarded with a pay package of $16 million, a 23% rise from the previous year. However, the package will reach at maximum if BOA can touch 0.80% earning against assets during the next three years. JP Morgan Chase & Co. CEO James Dimon has ranked top in receiving pay packages for the 2015.
The average oil price has dipped well below $30 a barrel on Thursday, which has been reported to be sold at $31 on Friday. Sharp fall of oil prices on Thursday has been analyzed as the triggering factor for some bargain hunting by some traders. However, equity market has also witnessed a boost which is believed to be induced by oil price soaring.
