Tuesday, 02 July 2013 09:30
'Antitrust regulators in Europe charged 13 large banks Monday with colluding to prevent new competitors from entering the credit derivatives market.
The European Commission said the banks, market research firm Markit Economics and the International Swaps and Derivatives Association colluded to block Deutsche Borse and CME from entering the market. The commission said Markit Economics, the trade association and the 13 banks worked together from 2006 through 2009 to prevent the exchanges from entering the market.'
Tuesday, 02 July 2013 09:07
'Apple filed the corporate results for its UK subsidiaries and analysis of them shows that the company paid no corporation tax in the country again last year.
Accounts filed by one of Apple’s two main UK divisions, Apple Retail UK Ltd, showed the company made a pre-tax profit of £16m on sales of almost £1bn in the year to September 29. Another subsidiary, Apple (UK) Ltd, made a pre-tax profit of £43.8m on sales of £93m, according to accounts filed at Companies House, while a third, Apple Europe, made a pre-tax profit of £8m.
However, the company offset tax deductions relating to share schemes of £27.7m against its corporation tax liabilities in the UK. The move also enabled it to claim a tax credit of £3.8m to carry forward to future years.'
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