brands under fire
Posted by Barry Silverstein on October 17, 2012 12:32 PM
Even as the topics of taxes and global competition took the stage at Wednesday night's U.S. presidential debate, one little known fact about American companies doing business overseas did not surface.
US corporate giants Amazon, Facebook, Google, and Starbucks apparently paid a measly 30 million pounds in UK tax over the past four years on combined sales of more than 3.1 billion pounds in sales, according to an analysis by Britain's the Guardian newspaper data hounds, using tax information collected by Duedil. That's a whopping disparity.
Starbucks, in particular, is coming under fire for boasting about its "profitable" UK operation over the past decade to investors and analysts, even though, as Reuters puts it, "Over the past three years, Starbucks has reported no profit, and paid no income tax, on sales of 1.2 billion pounds in the UK."
Now British parliamentary committees are planning to question the company about its business practices as the tax legislation governing global firms in the UK comes under scrutiny. So Starbucks argues that it has paid taxes "to the letter of the law" in Britain, even as it's "the letter of the law" that may be the very problem.Continue reading...
brands under fire
Posted by Sheila Shayon on July 15, 2011 11:30 AM
Following a week of speculation, News International CEO Rebekah Brooks stepped down today (joined later in the day by Dow Jones CEO Les Hinton) as the beleaguered Murdoch family battles to defend its media interests.
News Corp. didn't include her resignation statement in the press release announcing that Sky Italia CEO Tom Mockridge would move over within News Corp. to take over her role, although the Guardian posted her memo to employees.
“As chief executive of the company, I feel a deep sense of responsibility for the people we have hurt and I want to reiterate how sorry I am for what we now know to have taken place," Brooks told staffers.Continue reading...
Posted by Shirley Brady on June 22, 2011 06:00 PM
ANA weighs FDA lawsuit over graphic cigarette pack warnings.
AT&T, T-Mobile and Verizon-backed ISIS brings NFC swipe-and-payments to Austin, TX.
Barnes & Noble digital plan pays off (but at a cost).
Facebook seeks pre-IPO feedback from marketers.
Glen Campbell announces he has Alzheimer's.
GM woos owners of defunct car brands.Continue reading...
Posted by Dale Buss on June 17, 2011 09:00 AM
AARP rolls out new Betty White spots as organization ends opposition to cutting Social Security benefits.
Alibaba revamps consumer business.
BJ's Wholesale gets a serious bidder.
BP's former CEO Tony Hayward sees payday in new venture IPO.
Capital One to pay $9B for ING Direct, subject to regulatory approval.
Casey Anthony case dubbed "social media trial of the century."
Chrysler faces high expectations for 300.Continue reading...
close of business
Posted by Stephanie Startz on October 9, 2009 06:28 PM
Scripps to shut down Fine Living Network, rebrand as Cooking Channel. [paidContent]
The redesigned New Statesman site resembles The Guardian's. [Econsultancy]
Cadillac quietly alters logo. [Brand New]
They deserve a break today: McDonald's is shopping agencies for new slogan. [BrandWeek]