February 10, 2015
SEC sues Cayman Islands bank and four other companies
The United States regulatory agency, the Securities and Exchange Commission (SEC) has sued the Cayman Islands-based Caledonian Bank and four other companies, claiming that they took more than US$75 million from unregistered sales of “virtually…
February 10, 2015
Several Dominicans figure in Swiss bank scandal
23 people linked to Dominican Republic, including some Dominicans figure with US$34.3 million in accounts in Switzerland’s HSBC bank subsidiary, according to a filtered list of people which the entity allegedly helped dodge taxes or launder money.…
February 3, 2015
Obama sends record US$4t budget to Congress
President of the United States Barack Obama sent Congress a record US$4 trillion budget Monday that would boost taxes on higher-income Americans and corporations, pushing past tight federal spending caps to fund an ambitious public works programme…
February 3, 2015
EU tax probe widened to Belgium
The European Commission has widened its corporate tax probe to include Belgium's rules on so-called "excess profit". It is the latest European Union member state to have its tax regime put under the spotlight. The Commission is investigating whether…
February 1, 2015
Obama plans tax on US firms overseas to fix roads at home
US President Barack Obama plans to close a tax loophole that allows US firms to avoid paying taxes on overseas profits, the White House says. His 2016 budget will impose a one-off 14% tax on US profits stashed overseas, as well as a 19% tax on any…
February 1, 2015
Greece Finance Minister Varoufakis says, ‘Europe comes first’
The economist-turned-finance minister seeking to renegotiate Greece's huge debt obligations says his priority is the well-being of all Europeans and has ruled out accepting more bailout cash. After talks with his French counterpart, Yanis Varoufakis…
February 1, 2015
North Sea oil summit to hear pleas for action
Industry body Oil and Gas UK is to call for "meaningful action" from government in order to tackle major challenges facing North Sea operators. Chief executive Malcolm Webb will tell an oil and gas summit in Aberdeen on Monday that "an unpredictable…
January 27, 2015
Apple earnings beat expectations as iPhone sales soar
Apple reported earnings of $18bn (£11.8bn) in the first quarter, a 40% increase from the same period a year earlier. Record sales of iPhones were behind the surge in profits. Apple said it sold 74.5 million iPhones in the last three months of 2014,…
January 22, 2015
China leader gets pay raise to US$22,300 a year
Chinese President Xi Jinping's base salary is rising from about US$13,600 to US$22,300 a year under a recent general pay increase for public employees, state media reported Tuesday. The reports gave Chinese citizens a rare glimpse into how much…
January 19, 2015
Obama to seek tax raises on wealthy in State of the Union
President Obama is to use Tuesday's State of the Union speech to call for tax increases on the wealthy to help the middle class, officials say. The proposals would raise $320 billion (£211 billion) over a decade, to fund benefits such as tax…