Apple has paid the Irish government €14.3bn (£12.7bn), money that the European Commission ruled the tech giant owed due to illegal tax breaks. Ireland's Finance ministry said the payment was a significant milestone, although Dublin insists Apple was not given any special tax treatment. In 2016 the Commission ruled the below 1% effective tax rate the firm paid in Ireland amounted to illegal state aid.Add your comment!
Mini factory in Oxford will shut down for a month after Brexit at the end of March to minimize disruption in case of a no-deal outcome. Owner BMW said its summer maintenance shutdown had been brought forward to 1 April to reduce any possible short-term parts-supply disruption.2 comments
The Catholic church in New York has reached a record US$ 27.5 million settlement with four men who said they were sexually abused as children, attorneys said on Tuesday. The Diocese of Brooklyn, one of the city's boroughs, agreed to make the payments to the four, who were sexually abused between 2003 and 2009 by their religion teacher, their lawyers said.3 comments
China and the United States plunged deeper into a trade war on Tuesday after Beijing added US$60 billion of US products to its import tariff list in retaliation for President Donald Trump's planned levies on US$200 billion worth of Chinese goods.1 comment
Brazilian farmers sped up soy and corn plantings this week for the country’s next grain crop, under favorable weather conditions and a positive market outlook, despite a sharp fall in soybean futures in Chicago on Tuesday. Soybean planting in Brazil’s second-largest producing state of Paraná reached 9% of the expected final area this week, up 8 percentage points from last week and compared to only 1 percent at this time last year, as ample soil moisture allowed for a quick start of fieldwork.Add your comment!
Visa Inc, Mastercard Inc, and a number of U.S. banks on Tuesday agreed to pay US$ 6.2 billion to settle a long-running lawsuit brought by merchants over the fees they pay when they accept card payments.2 comments
The tiny West African state of Equatorial Guinea on Tuesday demanded Brazil hand back more than US$ 16m in cash and luxury watches that border officials confiscated from a delegation accompanying the president's son. Foreign Minister Simeon Oyono Esono Angue denounced the seizure as “paltry and unfriendly behavior” and demanded the items be returned, state television TVGE said.4 comments
Brazil's economy grew 0.57% in July from June, Brazil's Central Bank said citing the Economic Activity Index (IBC-Br). The data shows a second consecutive month of GDP growth in South America's largest economy.Add your comment!
Brazil's benchmark Bovespa index rose 1.75% on Tuesday, rallying for a second straight day largely on a spike in commodities prices. Two of the Bovespa's most heavily weighted equities, miner Vale and oil giant Petrobras benefited from rising commodity prices worldwide amid escalating China-U.S. trade tensions and signals OPEC is not prepared to raise output to address shrinking supplies from Iran.Add your comment!
Venezuelan President Nicolas Maduro said on Tuesday that new investments from China will help his country dramatically boost its oil production, doubling down on financing from the Asian nation to turn around its crashing economy.2 comments