Multinational firms which exploit loopholes to avoid paying tax in the UK will be pushed to “damn well pay,” David Cameron said on Thursday. The PM’s statement was denounced as disingenuous by global tax expert and UK economist Richard Murphy.
If all you ever did was look at economic figures you might be forgiven for thinking the global economy is beginning to pick up after the worst recession in living memory. But the reality is rather different.
UK gas prices plunged to a record low on Friday following a newly signed deal between Russia, Ukraine and the European Commission. However, fuel poverty remains rife in Britain, with 2 million households unable to afford adequate heating.
Chinese giant PC producer Lenovo has completed the $2.9 billion acquisition of the handset unit in the iconic mobile maker Motorola Mobility, fortifying its positions in the US and other developed markets.
Apple is in early stage talks with Iranian distributors about entering the country’s market after the US began to loosen sanctions on exports to Iran. A sign of warming relations with Teheran is seen after a 35 freeze that began in 1979.
The Serious Fraud Office (SFO) has announced it is carrying out a criminal investigation into Tesco’s accounting irregularities after the supermarket overstated profits by £263 million (US$424.7 million).
The Federal Reserve has officially announced an end to its quantitative easing bond-buying program, but economists are split over whether the central bank’s decision will help or hinder post-recession recovery.
Falling oil prices embarrass and make life difficult for countries that depend on oil exports, including Russia and Venezuela, and the US would enjoy making life difficult for them, economist Richard Wolff told RT.
Saudi Arabia wants to use lower oil prices to pressure Russia to change its stance on Syria, to antagonize Iran, and to force US shale gas out of the market, roving correspondent for the Asia Times Pepe Escobar told RT.
As tough anti-smoking laws begin to be felt by tobacco users in Russia, the head secretariat of the UN Treaty on Tobacco Control convening in Moscow, Dr Vera Luiza da Costa e Silva, tells RT more must be done to denormalize tobacco consumption in Russia.