October 24, 2014
Cameron says UK won’t pay £1.7bn EU bill
David Cameron has angrily insisted the UK will not pay £1.7bn being demanded by the European Union. "If people think I am paying that bill on 1 December, they have another think coming," the prime minister said in Brussels. "It is not going to…
October 21, 2014
Microsoft boss Satya Nadella gets $84m pay package
Microsoft boss Satya Nadella has been given a pay package worth $84.3m (£52m), making him one of the top earners in the tech industry. The total pay package is largely made up of share awards, and most of the payments will be made over several…
October 20, 2014
Apple earnings beat expectations
Apple reported third-quarter earnings of $8.47bn (£5.24bn), a 13% rise from the same period a year earlier, beating analysts' expectations. Profits at the technology giant were helped by sales of its new iPhone 6 models, which were on sale for ten…
October 20, 2014
IBM pays $1.5bn to offload chip unit as profit falls
IBM is to pay $1.5bn (£930m) in cash to offload its loss-making chip manufacturing division to Abu Dhabi owned GlobalFoundries. IBM, which wanted to avoid the cost of upgrading the unit's technology, said it would now focus on cloud computing,…
October 20, 2014
TCI receives support from the World Bank for National Risk Assessment
The Turks and Caicos Islands (TCI) is undertaking a National Risk Assessment (NRA) this year in line with the Financial Action Task Force (FATF) recommendations that each country assesses its own money laundering and terrorist financing risks.The…
October 14, 2014
JP Morgan Chase posts $5.6bn profit
US banking giant JP Morgan Chase has reported a $5.6bn (£3.5bn) profit for the three months to 30 September. The quarterly results represent a marked improvement on a year earlier, when the bank made a $380m loss. This was the result of setting…
October 13, 2014
Oil prices see further declines
Global oil prices have fallen again amid worries about slow global growth and reports that key oil producers want to maintain current output levels. Brent crude fell to a near four-year low of $87.74 a barrel earlier, before recovering some ground…
September 22, 2014
Whistleblower in largest-ever award by US government
The US Securities and Exchange Commission (SEC) has revealed that it awarded a record $30m (£18m) payout to an anonymous whistleblower who lives outside the US. It is the largest payment ever given to a whistleblower by regulators. The SEC said…
September 16, 2014
Global firms need new tax rules
Moves to tackle corporate tax avoidance on a global scale have been unveiled by the Organisation for Economic Co-operation and Development (OECD). The action plan is aimed at multinational companies that shrink their tax bills by shifting their…
September 16, 2014
Radisson suspends Minnesota Vikings sponsorship
The Radisson hotel chain says it is suspending its sponsorship of Minnesota Vikings, an American football team. It comes after one of the team's players, Adrian Peterson, was charged with child abuse in Texas after hitting his son with part of a…