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Why Ireland Doesn't Want to Take Billions From Apple

After a three-year investigation, the European Commission concluded overnight that Ireland granted undue tax benefits to Apple that were illegal under the EU's state aid rules. The companies say they follow all tax rules. "They don't have responsibility for taxes and they are opening a back door through state aid to influence tax policy in European countries when the European treaties say tax policy is a matter for sovereign governments", he added.

Business

SC likely to give ruling in Singur land acquisition case today

Now I can die in peace. A lot was at stake for Banerjee who had during the state assembly polls promised that all the displaced farmers who did not receive the compensation would get their 400 acres of land back. With the verdict of the case out, the animosity between Mamata Banerjee and Ratan Tata, who said that West Bengal's industrial growth has stunted under Banerjee, is only set to grow ever more bitter.

Business

Rigel's Fostamatinib Meets Primary Endpoint in Phase 3 Study in Chronic ITP

Upon successful completion of the extension study and the second FIT Phase 3 study, the company intends to submit a New Drug Application (NDA) for fostamatinib with the FDA in the first quarter of 2017. Piper Jaffray analyst Joshua Schimmer said he "had a feeling this would be a close one, and while the phase II data did support biological activity for ITP, the disease criteria defined by the hematology community probably mean that many immune-mediated thrombocytopenia patients actually do ...

Business

European Commission orders Apple to pay billions to Ireland

European companies doing business in the US are taxed according to the same principle. In an earlier white paper , the US Treasury Department warned the European Union about taking any action against Apple and other US companies like Amazon and Starbucks.

Business

Tropical Storm watch issued for area off of Florida's Gulf Coast

As for the the hurricane watch , it covers the Gulf Coast from the Anclote River, near Tarpon Springs, to Indian Pass in the Panhandle. Tropical Depression Nine is in the Gulf of Mexico and is expected to head toward Florida as a tropical storm late this week.

Business

Gernot Rohr begins Nigeria reign with training for Tanzania game

He went straight to work as he conducted his first training session with the players. The German had flight delays in Lagos and was unable to land in the Akwa Ibom state capital to kick-off his reign as handler of the three-time African kings.

Business

Senators press Mylan on 'exorbitantly expensive' EpiPen

It is used to counteract anaphylactic shock, and can be a lifesaver. Mylan has drawn scrutiny for price hikes that saw the cost of a two-pack of EpiPens bloat from $100 to $600. That news put Bresch in a small group that the public sees as corporate villains that includes Martin Shkreli, the smirking investor who boosted the cost of an AIDS medication by 5,000 percent previous year.

Business

Senators press Mylan on 'exorbitantly expensive' EpiPen

It is used to counteract anaphylactic shock, and can be a lifesaver. Mylan has drawn scrutiny for price hikes that saw the cost of a two-pack of EpiPens bloat from $100 to $600. That news put Bresch in a small group that the public sees as corporate villains that includes Martin Shkreli, the smirking investor who boosted the cost of an AIDS medication by 5,000 percent previous year.

Business

Gold Heads for Monthly Decline as Fed Rate Fears Damp Its Appeal

Early Wall Street trading was set to be dominated by Apple after European Union antitrust regulators ordered it to pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government after ruling a special scheme to route profits through Ireland amounted to illegal state aid.

Business

What will happen to United Kingdom house prices in the coming months?

Over the past three decades, United Kingdom households have cut spending every time that house prices have fallen. According to the latest Nationwide House Price Index , the average price of a home increased by 0.6% in August to £206,145.

Business

Sioux tribe leader wants political help to halt Bakken Pipeline

Opponents of the $3.8 billion Dakota Access pipeline being built from North Dakota to IL are protesting the project in the area and several arrests have been made for interfering with the work. Low oil prices are the reason for the slowdown, which is now projected to last into at least the third quarter of this year or into the second quarter of 2017, Director Lynn Helms said in his monthly update.

Business

Markets open on higher note on Wednesday morning

The broader Nifty index was up 44 points or 0.51 percent at 8,788. The BSE Sensex gained over 230 points in early morning session, but later pared gains to trade at 28,102, up 200 points, or 0.72 per cent, at around 11.50 a.m. Bharti Airtel fell by 2.82 per cent. The S&P BSE Sensex ended up 440 points at 28,343 and the Nifty50 surged 137 points to settle at 8,744. Interestingly, the strong stock market show on Tuesday has pushed up total market capitalisation (m-cap) of BSE-listed ...

Business

Kurdish fighters announces to agree truce with Turkey; US welcomes pause

The Turkish move came to cut the road before the Kurdish-led SDF, who has made sweeping victories against the IS near the Turkish borders, which raised the ire of Ankara and nurtured its fears of a growing Kurdish influence at its backdoor.

Business

Hershey crashes 11% after chocolate merger talks end

The Deerfield, Illinois-based Mondelez , formerly known as Kraft Foods , also produces popular lines of candies, including Oreo and Chips Ahoy! cookies. In June, Hershey rejected a $107-a-share takeover offer from Mondelez . This item was corrected at 2:57 p.m. ET to show that without the Hershey combination, Mondelez could be relatively attainable by a larger player in the food-and-beverage industry.

Business

Mondelez says it ended talks to buy Hershey

She also said that though the management is disappointed with the outcome, it will remain committed to add value to the company either by acquisitions or by building investor confidence regarding long-term performance. Hershey shares plummeted by 11.4% in late-hours trading - down to $99 (£76) - while shares in Mondelēz rose by almost 4%. Mondelez's offer was half in cash and half in stock, sources have said.

Business

Merkel aide: We'll do everything to conclude US trade deal

But with national elections due in both France and Germany in 2017, experts were saying before the summer that this year - before the end of U.S. President Barack Obama's mandate in January - may be the best opportunity to strike a deal. The deal is aimed at boosting trade and investment between the United States and Europe, Alden says. He did not say when or under what conditions the talks could restart.

Business

EU ruling on Apple stirs calls for U.S. tax reform

Both Irish authorities and Apple have repeatedly denied breaching state aid rules . Noonan, in a Tuesday press release , said that, "the full amount of tax was paid in this case and no State aid was provided", and furthermore that the nation gave no "favourable tax treatment to Apple ".

Business

Facts about Apple's taxes in Ireland that may surprise you — BUSINESS REPORT

The "tax treatment in Ireland enabled Apple to avoid taxation on nearly all profits generated by sales of Apple products in the entire" European Union, the commission said. The companies say they follow all tax rules. The U.S. wants to work collaboratively with Europe to prevent companies from avoiding taxes, he said. " Apple has long supported worldwide tax reform with the objectives of simplicity and clarity", Cook, Apple's chief executive, said in the letter to customers.

Business

Upstate pastor talks about controversial tweets

The cartoon also depicts Clinton as saying, "I ain't no ways exhausted of pandering to African-Americans". After initially defending the tweet and the cartoon as "satire", Burns ended up deleting it and " apologizing " for offending anyone who might have been offended.

Business

ISIS official spokesman al-Adnani reported killed in Syria

In the northern part of Aleppo province, near the Turkish border, the Islamic State is now under attack by a long list of antagonists: directly by Turkish, American, and Russian airstrikes, by US- and Turkish-backed Syrian rebels, and by US-backed Kurdish rebels and their Arab allies.

Business

Gold near two-month lows on rate hike worries

Fed Vice Chair Stanley Fischer told Bloomberg TV that the US job market is nearing full strength and the pace of rate increases will depend on the economy's health. Apple dragged down United States technology stocks after European Union antitrust regulators ordered the iPhone maker to pay about $US14.5 billion ($A19.3 billion) in back taxes to the Irish government.

Business

Running, laughter and tears at Tewkesbury School on GSCE results day

Among the high-achievers was Alice Liddle, 16, from Ashbrooke who picked up eight A* and three A grades. "We are very pleased with the GCSE results and more importantly the achievement of all of our pupils". Half of pupils at Colchester Academy got five A* to C grades including English and Maths, which is eight per cent less than past year. 79 per cent of pupils at Colchester High School met the required standard and a total of 85% of the 54 St Mary's candidates achieved a minimum of five ...

Business

Turkish army says 25 Kurdish 'terrorists' killed in Syria strikes

Turkish forces deny that any of their military vehicles have entered Kobani; rather, they say their forces are protecting construction vehicles as they dig the foundation for a border wall adjacent to the city. According to reports, the rocket was launched from territory held by Kurdish YPG forces on Saturday. But some rebel groups have rejected the plan unless aid passes through opposition-held areas and the ceasefire applies to other areas of Syria under siege.

Business

Showering cash on girls in dance bars a punishable offence

As per the reports, the Apex court stressed that the act of throwing money at women was against the dignity of women, decency and culture. "How can the foundation of our judgment be taken away by a statutory law?" a Bench of Justices Dipak Misra and C.

Business

2 killed, 41 injured in bus accident in U.S. state of Louisiana

Matey said Sunday that investigators also want to learn more about the bus driver, Denis Yasmir Amaya Rodriguez, 37, of Honduras. Amaya Rodriguez remained in custody Monday, a day after his arrest on two counts of negligent homicide and one each of negligent injury, reckless driving and driving without a license.

Business

USHHS: S.C still has affordable health care options

In February of 2010, I spoke for Republicans at a White House summit on health care and warned President Obama that premiums for millions of Americans with individual insurance would rise under his proposal. This plan was a first look at core GOP priorities for health care reform. Republicans have offered a better idea. "The GOP plan encourages employers to take an active role in providing care to their employees by limiting the reach of the American with Disabilities Act and the Genetic ...

Business

Euro zone inflation stable in August, against expectations of rise

The 0.4 percent inflation was the highest since January, when it was 0.5 percent. Consumer prices fell 0.1% from July, on the harmonized basis, whereas Credit Suisse had been looking for 0.2% price growth after a 0.4% month-on-month price rise in July.

Business

Trump to visit Mexico before immigration speech

Trump's meeting with the Mexican President would be his first formal interaction with a foreign head of state after he jumped into the electoral arena past year. Trump promises on Twitter that he'll make a major speech on illegal immigration on Wednesday, Aug. 31, 2016, carrying his self-declared "immigration week" into a second.

Business

Man confessed in shooting of Wade's cousin, prosecutors say

Aldridge's large extended family mourned their loss on Sunday. Aldridge, a 32-year-old mother of four, was walking near a school where she was planning to register her children when she was shot in the head and arm. "It's much harder to see the cases of people who we've locked up for too long. Another act of senseless gun violence", Wade tweeted on Friday. "We are now in a very, very sensitive grieving place", she said while holding her sobbing sister Diana.

Business

More Mitsubishi models in Japan found with inflated mileage

The Mitsubishi fuel economy scandal has gotten a lot larger. Testing of nine Mitsubishi Motors models found that actual fuel economy fell short of the catalog figures by an average of 4.2% and as much as 8.8%, the Ministry of Land, Infrastructure, Transport and Tourism said Tuesday.

Business

Rubio wins GOP nomination to seek second term

Murphy, of Jupiter, is a two-term state representative who switched from Republican to Democrat just before running for Congress, defeating Republican tea party favorite Allen West in 2012. "They are unsafe and they will leave us vulnerable as a people and as a nation", said Rubio . How can someone with that kind of record think he can be elected to the U.S.

Business

Sensex falls; state-run banks hit after Patel picked as RBI chief

Patel, 52, is one of four deputy governors and was re-appointed in January this year for a three-year term. Under the chairmanship of Patel, the panel had proposed inflation-targeting and the setting up of a Monetary Policy Committee, which has been accepted by the government.

Business

NBC's Rio Olympics closing ceremony ratings drop

Samba dancers, singers, drummers and a giant plumed macaw float mixed with hundreds of athletes in the storied Maracana stadium while a final volley of fireworks lit up the night sky. Brazil finally heaved a sigh of relief after overcoming terror and Zika threat. And American swimming standout Ryan Lochte and three teammates caused outrage when they falsely claimed they had been robbed at gunpoint in Rio by muggers disguised as police.

Business

Yellen Hints at Possible Rate Hike

But she stopped short of offering any timetable. U.S. economic growth in the second quarter was a bit more sluggish than initially thought as businesses aggressively ran down stocks of unsold goods, offsetting a spurt in consumer spending.

Business

U.S. shares slip on Fed rate hike worries; dollar climbs

USA stocks opened little changed Tuesday as investors awaited further clues on the timing of the next Federal Reserve interest-rate hike, weighing fresh remarks by Fed Vice Chairman Stanley Fischer and looking ahead to August jobs data due at the end of the week.


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