An EU court ruling on Tuesday overturning an order that Starbucks pay the Dutch state back taxes shows the multinational “was treated the same as other companies,” the Dutch Finance Ministry said.
Hong Kong Exchange and Clearing (HKEX) said it was “thinking big” in its $39 billion London Stock Exchange bid as LSE CEO David Schwimmer said he was sticking with his $27 billion purchase of data and analytics company Refinitiv.
Starbucks won its fight on Tuesday against an EU demand to pay up to 30 million euros ($33 million) in Dutch back taxes, while Fiat Chrysler Automobiles lost its challenge against an order to stump up a similar amount to Luxembourg.
German prosecutors brought criminal charges of stock market manipulation against Volkswagen CEO Herbert Diess, former CEO Martin Winterkorn and Chairman Hans Dieter Poetsch in relation to an emissions cheating scandal.
Hong Kong Exchange and Clearing (HKEX) said it was “thinking big” in its $39 billion bid for the London Stock Exchange, but LSE CEO David Schwimmer said he was sticking with his $27 billion acquisition of data and analytics company Refinitiv.
Oil prices fell on Tuesday after weak manufacturing data from Europe and Japan focused market attention on a gloomy outlook for demand and as Saudi Arabia was expected to restore oil output faster than anticipated following attacks last week.
European shares rose on Tuesday, following their worst day in over a month, after Washington said the United States and China would resume trade talks. Britain’s pound was laying low before the next act in the Brexit drama.
Uber on Tuesday received only a two-month London operating license, failing to secure a maximum five-year term in a battle with the regulator which has previously stripped the app of its right to take rides.
Brewer AB InBev priced the Hong Kong IPO of its Asia-Pacific unit at the bottom of a marketed range to raise about $5 billion, indicating deals in the pipeline may need subdued valuations to succeed as protests in the city unnerve investors.
A panel of bankers has ruled that some investors in Thomas Cook’s credit derivatives worth as much as $2.7 billion are eligible for a payout following the world’s oldest tour operator’s collapse on Monday.
The German government will decide within the next coming days on whether to offer financial support to Condor, the German airline owned by insolvent British travel operator Thomas Cook , German Economy Minister Peter Altmaier said on Tuesday.
German insurer Allianz, Nippon Life and MS&AD Insurance are vying with rivals to buy the Singapore and Vietnam businesses of Britain’s Aviva in a deal likely to be worth up to $2.5 billion, sources said.
A panel of bankers has ruled that some investors in Thomas Cook’s credit derivatives worth as much as $2.7 billion are eligible for a payout following the world’s oldest tour operator’s collapse on Monday, according to a statement.
Starbucks won an appeal on Tuesday against an EU demand to pay up to 30 million euros ($33 million) in back taxes to the Netherlands, while Fiat Chrysler Automobiles lost its appeal to pay back a similar amount of levies to Luxembourg.
The British government decided there was no point bailing out Thomas Cook as it would have been a waste of taxpayers’ money to throw good money into a business that was not meeting the needs of its customers, the business minister said on Tuesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
