Law and business: commercial news round-up 14.04.16
updated on 14 April 2016
More fallout from the leaked Panama Papers this week, as businesses and individuals scramble to distance themselves from the scandal (Bill Gates has said he’s more surprised by who’s NOT on the list). For a variety of other interesting business news, read on:
- Yahoo has a number of suitors for its web business, as Google and Verizon throw their hats in the ring to take it over.
- Tata Steel has begun the formal process of selling of its UK plants, with one keen bidder coming to the forefront – Liberty Steel, headed by Sanjeev Gupta. However, there are real fears that there will be no wholesale rescue of the entire company.
- BP boss Bob Dudley faces shareholder revolt in relation to his 20% pay rise, taking his salary to £14 million, in a year that saw BP make job cuts and deal with falling profits.
- Bad weather and an early Easter hit retailers where it hurts - in the pocket - with sales down 0.7% compared to the same period last year.
- An Oxfam report estimates that $1.4 trillion is hidden away in tax havens by US corporations, including Apple with $181 billion and General Electric with $119 billion.
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