ATO slugs Shell with $755m bill in fight against multinational tax avoidance | Australia news

ATO slugs Shell with $755m bill in fight against multinational tax avoidance | Australia news

The Australian Taxation Office has hit the British-Dutch oil giant Shell with a bill estimated at $755m as it continues to pursue multinational resources giants over claims they have avoided paying tax on offshore gas projects. Court documents reveal Shell’s main Australian company, Shell Energy Holdings Australia, has been fighting the ATO for six years […]

Continue Reading
BA sorry for sending flight cancellation email to wrong passengers | Business

BA sorry for sending flight cancellation email to wrong passengers | Business

British Airways has apologised after an “email error” meant some passengers were wrongly told their flights were cancelled following the announcement that pilots would strike for three days next month. Weddings, honeymoons and holidays of a lifetime have been thrown into doubt by the walkouts, which will see a number of flights cancelled on 9, […]

Continue Reading
How a trio of PPI first ladies made millions from clients’ compensation | Money

How a trio of PPI first ladies made millions from clients’ compensation | Money

They are the three queens of PPI, the owners of giant claims companies that have banked hundreds of millions of pounds in fees from the PPI saga. But none of them appears in newspaper rich lists, and little is known about their vast fortunes. Lisa O’Neill, at 39 the youngest of the PPI multimillionaires, is […]

Continue Reading
Trump escalates attacks on China and threatens to raise tariffs | Business

Trump escalates attacks on China and threatens to raise tariffs | Business

Donald Trump escalated his attacks on China on Friday, bumping up tariffs on Chinese imports and ordering US companies to leave China. Trump’s announcements on Friday – all on Twitter – came after the president launched another blistering criticism of the Federal Reserve chairman, Jerome Powell, asking: “Who is our bigger enemy, Jay Powell or […]

Continue Reading
Why is Trump is waging an economic war on China? | US news

Why is Trump is waging an economic war on China? | US news

Even by Donald Trump’s standards his Twitter rant attacking China on Friday was extraordinary. In a series of outbursts Trump “hereby ordered” US companies to stop doing business with China, accused the country of killing 100,000 Americans a year with imported fentanyl and stealing hundred of billions in intellectual property. The attack marked a new […]

Continue Reading
Mark Carney: dollar is too dominant and could be replaced by digital currency | Business

Mark Carney: dollar is too dominant and could be replaced by digital currency | Business

The Bank of England governor, Mark Carney, has challenged the dollar’s position as the world’s reserve currency, arguing that it could be replaced by a global digital alternative to end a savings glut that resulted in 10 years of low inflation and ultra-low interest rates. Likening the move to the end of sterling’s command of […]

Continue Reading
British Airways pilots to strike for three days in September | Business

British Airways pilots to strike for three days in September | Business

Pilots at British Airways will go on strike for three days in September after talks failed to settle a long-running pay dispute, the union has announced. The pilots will take industrial action on 9, 10 and 27 September in a move that BA said was likely to disrupt the plans of “tens of thousands” of […]

Continue Reading
Ann Summers chief criticises landlords over high rents | Business

Ann Summers chief criticises landlords over high rents | Business

The Ann Summers chief executive has accused some retail landlords of “burying their heads in the sand” by ignoring the crisis on the high street, after several refused to accept lower rents to support the chain. The sex toys and lingerie specialist has been struggling during a high street downturn. The Guardian revealed in May […]

Continue Reading
Eddie Stobart suspends trading in its shares after accounting error | Business

Eddie Stobart suspends trading in its shares after accounting error | Business

Eddie Stobart, best known for its 2,700 green and red trucks plying Britain’s motorways, has stunned investors by suspending trading in its shares after an accounting investigation found profits had been overstated. The company said there was a £2m error in its 2018 accounts, and that profits for the first half of 2019 would be […]

Continue Reading
China hits back at Trump with tariffs on $75bn of American goods

China hits back at Trump with tariffs on $75bn of American goods

China has raised tariffs on around $75bn of US imports in retaliation for Donald Trump’s latest tariff increases, further escalating trade tensions that risk tipping the world economy into recession. Tariffs of 10 per cent and 5 per cent on two tranches of goods will come into effect on 1 September and 15 December, China’s […]

Continue Reading