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WASHINGTON / Reuters Fifteen US corporations including online retailer Amazon.com Inc, power company Duke Energy Corp and insurer Prudential Financial Inc avoided US tax on nearly $25 billion in combined profits last year, a tax watchdog group said. A report by the Institute on Taxation and Economic Policy, or ITEP, said data showed how profitable Fortune 500 companies have routinely ...

BRUSSELS / Reuters The European Union plans more powers for consumers to sue firms like Volkswagen after the Dieselgate scandal showed the limits of consumer protection authorities to curb corporate cheating. Wednesday’s proposal by the EU executive would give consumer groups the ability to launch collective action on behalf of clients and hand consumer protection authorities stronger powers to sanctions ...

Bloomberg The French economy may have just had its worst quarter in more than a year and there could be further pain ahead if planned strikes opposing President Emmanuel Macron’s reforms go forward. Industrial sentiment fell to the lowest in more than a year in March and manufacturing output unexpectedly declined in February, according to reports this week. A broad ...

Reuters Alexion Pharmaceuticals has agreed to buy Sweden’s Wilson Therapeutics for 7.1 billion Swedish crowns ($855 million), boosting its line-up of rare disease drugs as a wave of deal-making in the biotechnology sector continues. The US group is acquiring the business through a cash tender offer worth 232 crowns per share, a premium of 70 percent compared to the closing ...

Bloomberg US antitrust enforcers are set to conclude their case against AT&T Inc.’s proposed takeover of Time Warner Inc. as their economic expert — a critical witness for the government — is scheduled to take the stand on Wednesday. Professor Carl Shapiro from the University of California at Berkeley will testify that AT&T’s acquisition of Time Warner would raise costs ...

BERLIN / Reuters Volkswagen will give labour leaders a management board seat as part of a broad agreement to win approval for Herbert Diess as the German carmaker’s new chief executive, sources said on Wednesday. Europe’s largest automotive group is poised to replace group chief executive Matthias Mueller this week with Diess, a cost-cutter hired in 2015 from BMW as ...

Cairo / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and President of Egypt Abdel Fattah el-Sisi, discussed the fraternal relations between the two countries and ways to enhance them as well as the overall regional and international issues of mutual interest. This came when ...

Sharjah / WAM The Sharjah FDI Office, Invest in Sharjah, the investment promotion arm of the Sharjah government has unveiled that the emirate’s performance in attracting foreign direct investment (FDI), in various economic sectors, which has seen a sharp increase of 102 percent between 2016 and 2017, with FDI inflows worth AED5.97 billion last year as compared to AED920 million ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has welcomed the UAE Cabinet’s new Law on Equal Wages and Salaries for Men and Women to ensure that women have equal opportunities as partners in UAE’s development. ...

Abu Dhabi / WAM The Founder’s Memorial, a permanent national tribute commemorating the late Sheikh Zayed bin Sultan Al Nahyan, is set to welcome the public from Sunday, April 22. Established to celebrate Sheikh Zayed’s visionary leadership and vast influence on his country and the wider world, The Founder’s Memorial invites visitors to embark on a journey of discovery into ...