Europe unveils tax crackdown
Ambitious proposals to block tax loopholes in cross-border financing structures were unveiled by Brussels yesterday, in an attempt to force multinationals to pay billions of euros more in corporate taxes to members of the European Union.
EU accuses US of improper data trawl
Brussels is to warn Washington that US tech companies risk losing their exemption from privacy rules unless the US changes the way it treats EU citizens’ online data. It follows a European Commission review of the “safe harbour” pact that allows US technology groups such as Google, Facebook and Microsoft to operate in Europe without EU oversight.
Abe urges China to withdraw air plan
Japanese prime minister Shinzo Abe has urged China to scrap new measures to restrict flights over disputed territory in the East China Sea.
Big issue launches bond fund
Fund managers at Threadneedle Investments have joined forces with The Big Issue to set up a bond fund that allows investors to back “socially beneficial” projects, such as charities and housing associations.
Vattenfall selling wind farm
A wind farm in the Irish Sea has been put up for sale by Swedish utility Vattenfall.
The Daily Telegraph
Shale predicted to add £3 trillion
Study says fracking would dramatically reduce reliance on expensive energy imports and create 1m new jobs. Fracking and the development of shale gas in Europe could create 1m new jobs and add up to £3 trillion to the value of European economies, new research has found. The research was carried out by independent consultancies, Poyry Management Consulting and Cambridge Econometrics.
THE WALL STREET JOURNAL
Genetic test service hits FDA block
The FDA ordered genetic-testing startup 23andMe to stop marketing its mail-order DNA kit, saying there are risks of inaccurate results.
Berlusconi makes bid to reopen case Former Prime Minister Silvio Berlusconi yesterday cited new evidence that he said could overturn his August conviction on tax fraud.