Tax News

A sample of Botox is seen at the Long Island Plastic Surgical Group at the Americana Manhasset luxury shopping destination in Manhasset

Valeant, Ackman offer to buy Botox maker Allergan for $47 billion

Canada's Valeant Pharmaceuticals International Inc said on Tuesday it and activist investor Bill Ackman made an unsolicited $47 billion bid to buy Botox maker Allergan Inc as it seeks to become one of the world's five biggest drug companies. The offer, if successful, would bring together two mid-sized pharmaceutical companies with expertise in skin care and eye care products, and is highly unusual…

  • Barrick-Newmont union: is the third … Reuters - Mon, 21 Apr, 2014

    By Euan Rocha, Allison Martell and Nicole Mordant TORONTO/VANCOUVER (Reuters) - Barrick Gold Corp has tried and failed to buy Newmont Mining Corp twice in the past decade, … More »Barrick-Newmont union: is the third …

    By Euan Rocha, Allison Martell and Nicole Mordant TORONTO/VANCOUVER (Reuters) - Barrick Gold Corp has tried and failed to buy Newmont Mining Corp twice in the past decade, but the rationale is now more compelling than ever for a merger between two of the world's largest gold miners. But the slide in gold also means that …

  • Erdogan addresses members of parliament from his ruling AK Party during a meeting at the Turkish parliament in Ankara
    Erdogan challenges social media in top … Reuters - Fri, 18 Apr, 2014

    By Orhan Coskun ANKARA (Reuters) - Prime Minister Tayyip Erdogan applied to Turkey's constitutional court on Friday to challenge the alleged violation of his and his … More »Erdogan challenges social media in top …

    Erdogan addresses members of parliament from his ruling AK Party during a meeting at the Turkish parliament in Ankara

    By Orhan Coskun ANKARA (Reuters) - Prime Minister Tayyip Erdogan applied to Turkey's constitutional court on Friday to challenge the alleged violation of his and his family's rights by social media, a senior official in his office told Reuters. Erdogan's government blocked Twitter and YouTube in March, drawing international …

  • A parcel travels along a conveyer belt at Amazon's new distribution center in Brieselang
    Amazon's tax-free European profits … Reuters - Fri, 18 Apr, 2014

    By Tom Bergin LONDON (Reuters) - The amount of money Amazon.com Inc reports through a tax-exempt vehicle in Europe has dropped sharply in the past two years, even as … More »Amazon's tax-free European profits …

    A parcel travels along a conveyer belt at Amazon's new distribution center in Brieselang

    By Tom Bergin LONDON (Reuters) - The amount of money Amazon.com Inc reports through a tax-exempt vehicle in Europe has dropped sharply in the past two years, even as European sales jumped, after the U.S. tax authority tightened rules it felt were being abused to shift profits. Amazon minimizes its tax bill by having the …

  • Dayna Boyer launched the Kitchen Library in Toronto's east end last year and says anything connected to the sharing economy is 'very exciting.'
    Share a juicer, your dog or a room in … CBC - Fri, 18 Apr, 2014

    The internet has helped fuel an economic phenomenon that has seen people share everything from empty rooms in their homes to overnight travellers to even their pets. … More »Share a juicer, your dog or a room in …

    Dayna Boyer launched the Kitchen Library in Toronto's east end last year and says anything connected to the sharing economy is 'very exciting.'

    The internet has helped fuel an economic phenomenon that has seen people share everything from empty rooms in their homes to overnight travellers to even their pets. But the growth of the sharing economy might soon be limited by the hand of regulation.

  • Cavalli acknowledges the audience at the end of his Spring/Summer 2014 collection during Milan Fashion Week
    Exclusive: 'Leopard King' Cavalli … Reuters - Thu, 17 Apr, 2014

    By Pamela Barbaglia and Sophie Sassard LONDON (Reuters) - Italian designer Roberto Cavalli is in advanced talks to sell a majority stake in his eponymous fashion house … More »Exclusive: 'Leopard King' Cavalli …

    Cavalli acknowledges the audience at the end of his Spring/Summer 2014 collection during Milan Fashion Week

    By Pamela Barbaglia and Sophie Sassard LONDON (Reuters) - Italian designer Roberto Cavalli is in advanced talks to sell a majority stake in his eponymous fashion house to London-based buyout firm Permira in a sale worth about 450 million euros ($621 million), four sources close to the deal told Reuters. A sale would mark …

  • The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego
    Morgan Stanley profit soars on wealth … Reuters - Thu, 17 Apr, 2014

    By Lauren Tara LaCapra and Anil D'Silva (Reuters) - Morgan Stanley reported a 55 percent jump in first-quarter earnings as higher revenue from its institutional securities … More »Morgan Stanley profit soars on wealth …

    The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego

    By Lauren Tara LaCapra and Anil D'Silva (Reuters) - Morgan Stanley reported a 55 percent jump in first-quarter earnings as higher revenue from its institutional securities business augmented another strong quarter from wealth management, sending shares in the Wall Street bank higher. Morgan Stanley's shares rose 2.8 percent …

  • Tax credits not the best way to help … CBC - Wed, 16 Apr, 2014

    Tax credits aimed at post-secondary students can reduce the net cost of a year at university by more than $2,000. But many analysts say the current tax credit system … More »Tax credits not the best way to help …

    Tax credits aimed at post-secondary students can reduce the net cost of a year at university by more than $2,000. But many analysts say the current tax credit system should be reworked or replaced to make the aid more effective and fairer.

  • The Canada Revenue Agency website is seen on a computer screen displaying information about an internet security vulnerability called the "Heartbleed Bug" in Toronto
    Canadian charged in 'Heartbleed' … Reuters - Wed, 16 Apr, 2014

    Canadian police have arrested a 19-year-old man and charged him in connection with exploiting the "Heartbleed" bug to steal taxpayer data from a government website, the … More »Canadian charged in 'Heartbleed' …

    The Canada Revenue Agency website is seen on a computer screen displaying information about an internet security vulnerability called the "Heartbleed Bug" in Toronto

    Canadian police have arrested a 19-year-old man and charged him in connection with exploiting the "Heartbleed" bug to steal taxpayer data from a government website, the Royal Canadian Mounted Police (RCMP) said on Wednesday. In what appeared to be the first report of an attack using a flaw in software known as OpenSSL, …

  • Canadian grocer Metro's profit beats … Reuters - Wed, 16 Apr, 2014

    (Reuters) - Canadian grocer Metro Inc posted a higher-than-expected quarterly profit as a reorganization of its Ontario operations boosted sales and the company raised … More »Canadian grocer Metro's profit beats …

    (Reuters) - Canadian grocer Metro Inc posted a higher-than-expected quarterly profit as a reorganization of its Ontario operations boosted sales and the company raised its dividend. Metro, which is facing stiff competition from U.S. retailers such as Wal-Mart Stores and Target Corp , said in August that it would convert …

  • Pakistan publishes list to embarrass … Reuters - Wed, 16 Apr, 2014

    By Katharine Houreld ISLAMABAD (Reuters) - Desperate Pakistani tax authorities are publicly shaming defaulters by publishing their tax details in a directory for the … More »Pakistan publishes list to embarrass …

    By Katharine Houreld ISLAMABAD (Reuters) - Desperate Pakistani tax authorities are publicly shaming defaulters by publishing their tax details in a directory for the first time, officials said on Wednesday. Only around one in 200 citizens files income tax, leaving the state begging foreign donors to help fund crumbling …

  • Bank of Japan Governor Kuroda gestures as he listens to questions during a news conference at the BOJ headquarters in Tokyo
    BOJ's Kuroda maintains positive … Reuters - Wed, 16 Apr, 2014

    By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Wednesday affirmed the central bank's upbeat view of the economy, even as global financial … More »BOJ's Kuroda maintains positive …

    Bank of Japan Governor Kuroda gestures as he listens to questions during a news conference at the BOJ headquarters in Tokyo

    By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Wednesday affirmed the central bank's upbeat view of the economy, even as global financial markets wobble, stressing that growth will pick up around mid-year as the sting of a sales tax hike fades. Price rises will broaden as the economy continues …

  • A labourer works at a construction site in Hangzhou
    China economic growth slows to 18-month … Reuters - Wed, 16 Apr, 2014

    By Adam Rose and Xiaoyi Shao BEIJING (Reuters) - China's economy grew at its slowest pace in 18 months at the start of 2014, but did a touch better than expected and … More »China economic growth slows to 18-month …

    A labourer works at a construction site in Hangzhou

    By Adam Rose and Xiaoyi Shao BEIJING (Reuters) - China's economy grew at its slowest pace in 18 months at the start of 2014, but did a touch better than expected and showed some improvement in March, suggesting Beijing will not rush to follow up recent steps to support activity. The economy grew 7.4 percent in the January-March …

  • Structure showing the Euro currency sign is seen in front of the ECB headquarters in Frankfurt
    ECB plan could boost shares in Europe's … Reuters - Wed, 16 Apr, 2014

    By Francesco Canepa LONDON (Reuters) - Shares in some of Europe's least profitable and most indebted companies are set to outperform in the coming months if the European … More »ECB plan could boost shares in Europe's …

    Structure showing the Euro currency sign is seen in front of the ECB headquarters in Frankfurt

    By Francesco Canepa LONDON (Reuters) - Shares in some of Europe's least profitable and most indebted companies are set to outperform in the coming months if the European Central Bank starts buying corporate bonds to fight the threat of deflation. The ECB has opened the door to the purchase of asset-backed securities such …

  • Leader of Forza Italia party Berlusconi arrives to talk to reporters at the end of the consultations with Italian President Napolitano at the Quirinale Palace in Rome
    Berlusconi ordered to do community service … Reuters - Tue, 15 Apr, 2014

    By Ilaria Polleschi and Isla Binnie MILAN (Reuters) - A court on Tuesday ordered former Prime Minister Silvio Berlusconi to serve a tax fraud sentence by doing community … More »Berlusconi ordered to do community service …

    Leader of Forza Italia party Berlusconi arrives to talk to reporters at the end of the consultations with Italian President Napolitano at the Quirinale Palace in Rome

    By Ilaria Polleschi and Isla Binnie MILAN (Reuters) - A court on Tuesday ordered former Prime Minister Silvio Berlusconi to serve a tax fraud sentence by doing community service with the elderly, in a ruling that restricts his movements but not his political activity. The court ruled that Berlusconi, one of Italy's …

  • Easton-Bell claims to be a leader in global sales of baseball and softball equipment. It has been purchased by Bauer.
    Hockey gear maker Bauer buys baseball … CBC - Tue, 15 Apr, 2014

    Canadian-listed hockey equipment firm Bauer Performance Sports Ltd. has bought the baseball operations of U.S.-based Easton-Bell Sports for $330 million US. More »Hockey gear maker Bauer buys baseball …

    Easton-Bell claims to be a leader in global sales of baseball and softball equipment. It has been purchased by Bauer.

    Canadian-listed hockey equipment firm Bauer Performance Sports Ltd. has bought the baseball operations of U.S.-based Easton-Bell Sports for $330 million US.

  • Europe's banks prepare for ECB tests … Reuters - Tue, 15 Apr, 2014
    Outside view shows the Euro sculpture in front of the ECB headquarters in Frankfurt

    By Laura Noonan LONDON (Reuters) - The tens of billions of euros euro zone banks set aside for loan losses in their latest annual accounts may have substantially reduced the chance of institutions failing ECB stress tests in the next few months. If replicated across the 128 lenders subject to tests the European Central …

  • Brazil's Campos to run for president … Reuters - Mon, 14 Apr, 2014
    Former governor of Pernambuco state Eduardo Campos talks with former Senator Marina Silva during a ceremony to announce their candidacies for president and vice president of Brazil in Brasilia

    By Anthony Boadle BRASILIA (Reuters) - Eduardo Campos, a business-friendly socialist from Brazil's poor northeastern region, announced on Monday he will seek the presidency, vowing to restore confidence in the country's fiscal accounts and once booming economy. The two-time governor of Pernambuco state picked as his running …