European leaders were scheduled to discuss how to combat aggressive tax avoidance by major companies such as Amazon, Google and Apple at a summit on Wednesday, and cut an estimated €1 trillion a year that the EU is losing to tax evasion or avoidance.
Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17% for the year to end-March 2015, but said there were “encouraging” signs of a revival in its electronics business.
Former Goldman Sachs director Rajat Gupta on Tuesday asked a federal appeals court to reverse his insider-trading conviction, challenging the validity of evidence used against him.
In a big new round of reforms, the government is likely to announce a slew of measures to boost foreign fund flows into India and pep up a falling rupee.
Gaurav Choudhury reports.
Doors open wider
In a strong investor response, the initial public offer of local search engine Just Dial, the largest offer by an Indian Internet company, was subscribed 11.63 times on the last of issue today.
A consumer forum in Delhi imposed a fine of Rs. 5.5 lakh on banking major Hongkong and Shanghai Banking Corporation (HSBC) Ltd for unfair trade practice of keeping its customer's already settled loan account outstanding and charging interest from him.
Infrastructure conglomerate Larsen & Toubro today reported 6.90% decline in standalone net profit at Rs. 1,787.94 crore for the fourth quarter ended March, 2013, due to a sharp rise in interest outgo.
The initial public offer of local search engine JustDial was over-subscribed by 1.94 times on the last of issue today.
Describing Indian market as an attractive and big for solar power, equipment maker First Solar has said it is looking for partnerships to strengthen business activities in the country.
The rupee snapped its initial gains to trade down by 4 paise at 55.45 against the dollar in late morning today deals following fresh demand of dollars from importers and some banks.
The BSE benchmark Sensex today rose by nearly 91 points in early trade on selective buying by funds in IT, banking and metal stocks amid positive global cues.
Lawyer for Rajat Gupta, told the 2nd US Circuit Court of Appeals in New York that wiretaps played for the jury were inadmissible because they amounted to hearsay evidence.
iGate Corporation, a US-listed IT company, on Tuesday sacked its India-born president & CEO Phaneesh Murthy for not disclosing to the management his relationship with a subordinate employee.
HT reports.
Using an unusual global tax structure, Apple Inc has kept billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a US Senate report on the company’s offshore tax structure said on Monday.
Government is said to be open to a reconciliation with British telecom giant Vodafone on its six-year old tax dispute. Explainer by
Gaurav Choudhury.