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EU says McDonald's, Luxembourg tax deal not illegal
McDonald's tax deal with Luxembourg did not breach EU state aid rules, EU antitrust regulators ruled on Wednesday, saying the reason the U.S. fast food chain did not pay some taxes was due to the mismatch between U.S. and Luxembourg laws.
Posted on : 2018-09-19 16:22:54
Nifty, Sensex extend falls to near 8-week closing low; HDFC firms top drag
Indian shares gave up early gains to close lower on Wednesday, declining for a third straight session to their lowest close since late July, dragged by financials such as HDFC Bank Ltd and Housing Development Finance Corp as the rupee hovering near its record low spooked investors.
Posted on : 2018-09-19 16:12:15
China says won't weaken currency to boost exports, as U.S. tariffs mount
China will not stoop to competitive devaluation of its currency, Premier Li Keqiang stressed, hours after China hit back, with a softer punch than the one landed by the United States, in an escalating tariff war between the world's largest economies.
Posted on : 2018-09-19 16:04:11
Exclusive: Japan regulator to check banks' readiness for emerging market swings - sources
Japan's financial regulator plans to check if the country's banks and other financial institutions are prepared to deal with any impact from sharp swings in emerging markets, sources with direct knowledge of the matter told Reuters on Wednesday.
Posted on : 2018-09-19 15:52:35
Global tech firms gear up to fight India's planned data law
Global tech companies plan to oppose new legislation in India that would require Facebook, PayPal and others to store user data in the country, arguing it will hurt investment and the business models of foreign and domestic firms.
Posted on : 2018-09-19 15:47:48
China trade official sees shake-up of WTO developing country rules
The World Trade Organization should bring in a new system to determine which countries are classed as "developing", based on the size but also the structure of the economy, a senior official from China's Commerce Ministry said on Wednesday.
Posted on : 2018-09-19 15:39:19
Toshiba Memory chief shrugs off price concerns, sticks with IPO plans
The chief executive of Toshiba Memory Corp, the world's No. 2 producer of NAND flash memory chips, on Wednesday brushed aside concerns about falling memory chip prices and reaffirmed the company's plan to go public in two to three years.
Posted on : 2018-09-19 15:37:02
India's largest hotel chain OYO set to expand into Britain
OYO, India's fastest growing hotel chain, is set to shake up Britain's budget accommodation market with a high-tech franchising and marketing strategy to sign up 300 independent hotels by the end of 2019, its founder told Reuters on Wednesday.
Posted on : 2018-09-19 15:32:56
Danske Bank boss resigns after $234 billion money laundering inquiry
Danske Bank's chief executive Thomas Borgen quit on Wednesday following an investigation into payments totalling some 200 billion euros ($234 billion) through its Estonian branch, many of which the Danish bank said were suspicious.
Posted on : 2018-09-19 15:25:10
UK inflation unexpectedly leaps to six-month high in August
British inflation jumped unexpectedly to a six-month high in August, pushed up by bigger-than-usual seasonal increases in sea and air fares and sending sterling above $1.32 for the first time since late July.
Posted on : 2018-09-19 14:56:42
KPMG admits misconduct on BNY Mellon reports, says watchdog
KPMG and one of its partners have admitted to serious failings in compliance reports for Bank of New York Mellon, Britain's accountancy watchdog said, potentially leading to heavy fines as the auditor comes under unprecedented scrutiny.
Posted on : 2018-09-19 14:55:46
World stocks bat aside trade war fears, rally for second day
Global equities rallied for a second straight day on Wednesday while safe-haven assets such as U.S. bonds and the Japanese yen slipped to multi-week lows as investors bet the escalating U.S.-China trade spat would inflict less damage than feared.
Posted on : 2018-09-19 14:45:57
BOJ's Kuroda warns of trade perils, echoes Abe on exiting easy policy
Bank of Japan Governor Haruhiko Kuroda on Wednesday stressed that he won't pull the plug on monetary easing until inflation hits his 2 percent target, warning that escalating international trade disputes could inflict widespread damage to global growth.
Posted on : 2018-09-19 14:34:14
UK inflation jumps unexpectedly to hit six-month high in August
British inflation jumped unexpectedly to a six-month high in August, pushed up by bigger-than-usual seasonal increases in sea and air fares and higher theatre admission prices, official data showed on Wednesday.
Posted on : 2018-09-19 14:04:12
Focus: Norway's Aker bets on software engineers for its oil business
When the owners of Norwegian oil firm Aker BP decided to digitise its assets and operations, they searched high and low for the right software company. But they failed to find a suitable one.
Posted on : 2018-09-19 13:40:45
Danske Bank CEO quits in $234 billion money laundering scandal
Danske Bank's chief executive Thomas Borgen quit on Wednesday in a money laundering scandal which involved 200 billion euros ($234 billion) flowing through its Estonian branch between 2007 and 2015, most of which was suspicious.
Posted on : 2018-09-19 13:12:23
Britain refers Sainsbury's-Asda merger for in-depth review
Britain's competition regulator referred Sainsbury's 7.3 billion-pound ($9.60 billion) takeover of Asda for an in-depth review on Wednesday because their stores overlapped in hundreds of local areas.
Posted on : 2018-09-19 13:10:15
Britain refers Sainsbury's-Asda merger to in-depth review
Britain's competition regulator referred Sainsbury's 7.3 billion-pound ($9.60 billion) takeover of Asda to an in-depth review on Wednesday because their stores overlapped in hundreds of local areas.
Posted on : 2018-09-19 12:43:11
Nifty, Sensex rise; Tata Steel top gainer
Indian shares snapped a two-day losing streak on Wednesday, in line with stronger Asia, as investors looked past the latest escalation in the U.S.-China trade spat, while the rupee recovering some lost ground against the dollar also boosted sentiment.
Posted on : 2018-09-19 12:34:21
Focus: AstraZeneca plots China robot offensive to counter price cuts
With smart cancer diagnostics, one-stop-shop diabetes kits and AI systems to improve ambulance pick-ups for patients with chest pain, AstraZeneca aims to move from simply supplying drugs to become a broad healthcare provider in China.
Posted on : 2018-09-19 12:32:16
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