Business

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 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.

Yogesh Agarwal, managing director and chief executive officer, Ballarpur International Graphic Paper Holdings BV or BILT, part of the $4 billion ( Rs. 22,000 crore) Avantha Group, feels that a leader must lead from the front with the ability to “cut the noise” and focus on the real issues.

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.

Despite an increase in total income, engineering and construction major Larsen & Toubro (L&T) reported a 6.9% year-on-year decline in standalone net profit for the March quarter at Rs. 1,788 crore, mainly due to a sharp increase in interest costs which skyrocketed to 132%.

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.