Companies who have re-domiciled better perk up and pay attention. If the European Commission has its way, they will have to bite their tax bullet. The European Union is preparing a new law under which large companies in every country… Read More ›
Entrepreneurship
Chinese foreign currency regulator busts underground bank transactions worth $148 billion
With the yuan trading at a 6 year low against the greenback and with the Chinese economy still loitering in the doldrums, regulators are especially eager to clamp down hard on the rabid underground economy. Financial News has reported, citing… Read More ›
VW and its works council hammer out a $5.5-$6.6 billion cost cutting strategy
Finer burrs are yet to be ironed out. Discussions between the two are still underway, as per anonymous sources. Manager Magazin has reported citing anonymous sources, Volkswagen’s brand management has agreed with labour leaders to adopt cost cutting measures in… Read More ›
FedEx to open its second largest package sorting facility in France
The investment of $1.5 billion by FedEx will double its sorting facility while creating 200-400 jobs in the process. U.S. package delivery service company FedEx has disclosed that it is set to invest $1.5 billion (1.4 billion euros) in Roissy,… Read More ›
Credit Cruise agrees to settle Italian tax case for $110 million
As per a source with direct knowledge of the matter at hand, Credit Suisse CNGN has agreed, in principle, to pay about $110 million (100 million euros) in order to settle its tax investigation in Italy. According to investigators, Credit… Read More ›
Samsung faces potential class-action lawsuit in U.S. over its fire-prone Galaxy Note 7
The complaint revolves around the issue that although the smartphones weren’t operational they have been billed on a monthly basis. The U.S. unit of Samsung Electronics Co Ltd is facing a proposed class action lawsuit from 3 Galaxy Note 7… Read More ›
Deliveries for old orders of Tesla’s Model 3 will be as per original schedule – Tesla Motors
In contrast to a CNBC report, Tesla Motors has clarified that only deliveries for new orders for the Model 3 will be from 2018. There is no change in deliveries for old orders. Tesla Motors Inc. has disclosed that customers… Read More ›
Delays in capital infusion in Audi’s tech projects could undermine VW’s long term competitiveness
With Audi being VW’s profit engine, delays in implementing technological projects are likely to weigh down its competiveness in the burgeoning EV market. The diesel emission scandal is now casting its long dark shadows on its very future. Sources… Read More ›
Visa’s Charles Scharf passes on the reins to Alfred Kelly
Kelly is likely to focus on tighter integration of the company’s operations in the U.S., Europe and China. Visa Inc. has disclosed that its CEO, Charles Scharf, will be stepping down and will be succeeded by Alfred Kelly. Scharf was… Read More ›
Hyundai Merchant Marine likely to bid for Hanjin Shipping’s Asia-U.S. route’s assets
As per government sources, the South Korean government could lend Hyundai Merchant Marine a helping hand if it were to bid for Hanjin Shipping’s assets. Hanjin Shipping Co Ltd may receive a lifeline from Hyundai Merchant Marine Co Ltd. The… Read More ›
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