News with a historical perspective
Two Chinese state firms took control of an Italian military drone maker in 2018 via an offshore company — without the knowledge of authorities in Italy and Europe, the Wall Street Journal reported. Italian police traced the purchase of 75% stake in Alpi Aviation to China Railway Rolling Stock Corp — a state-owned rail companyContinue reading “China took control of an Italian military drone maker without authorities knowing it, report says”
The Qatar ruling family bought two of the UK’s most expensive houses in a deal that allowed them to avoid £18.5m in stamp duty, leaked documents show. The family bought the properties in central London via offshore companies for over £120m and applied to make them into a 17-bedroom “super-mansion”. There is no suggestion thatContinue reading “Pandora Papers: Qatar ruling family avoided £18.5m tax on London super-mansion”
On the tape, made in a Greenpeace sting, he described working with “shadow groups” to fight climate science, and detailed efforts to weaken President Biden’s proposals to burn less oil. The veteran oil-industry lobbyist was told he was meeting with a recruiter. But the video call, which was secretly recorded, was part of an elaborateContinue reading “In Video, Exxon Lobbyist Describes Efforts to Undercut Climate Action”
Uber used around 50 Dutch shell companies to help reduce its global tax burden, an Australian research group found. Despite earning $5.8 billion in global revenues in 2019, Uber claimed a $4.5 billion loss for tax purposes. One researcher called Uber’s alleged scheme “the Champions League of tax avoidance.” Uber has been using a complex taxContinue reading “‘Champions League of tax avoidance:’ Uber used 50 Dutch shell companies to dodge taxes on nearly $6 billion in revenue, report says”
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