Search Results for: multinationals

Inclusion and diversity isn’t just good for employees – it’s good for the bottom line

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Smilla Yuan, Head of Greater China, Willis Towers Watson & Chad O’Reilly, Member of the Asia I&D Council, Willis Towers Watson There’s no standard definition or one-size-fits-all solution when it comes to inclusion and diversity (I&D). Yet increasingly, […]

What the Amazon rain forest tells us about globalization

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Peter Vanham, Media Lead, US and Industries, World Economic Forum Can globalization and the fight against climate change co-exist? Or is the environment doomed to suffer as people fly, goods are shipped, and agriculture and industry tap international […]

“An open China brings opportunities to Europe”, a Sting Exclusive by China’s Ambassador to EU

This article was exclusively written for The European Sting by the Ambassador Extraordinary and Plenipotentiary and Head of Mission of the People’s Republic of China to the European Union, Mr Zhang Ming, on the occasion of China International Import Expo. The opinions expressed in this article belong to the distinguished writer. Sixty years ago, the first major World […]

Who are the winners and losers in Africa’s Continental Free Trade area?

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Rilwan Akeyewale, CEO, Grandir Inc. In March this year, the leaders of 44 African countries endorsed the African Continental Free Trade Agreement (AfCFTA). Since then more countries, including South Africa, have joined in. Th agreement is expected to […]

Overseas investment falling, developing countries largely unscathed: UN trade agency

This article is brought to you in association with the United Nations. Foreign direct investment (FDI) has dropped 40 per cent year-on-year so far, the UN Conference on Trade and Development (UNCTAD) said on Monday, but the $470 million decline is happening mainly in wealthy, industrialized nations, especially in North America and Western Europe. Overall, the […]

Sustainability is now mission critical for businesses. Here’s why

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Terri Toyota, Deputy Head of Centre for Global Public Goods, Member of the Executive Committee, World Economic Forum “Can I afford to buy organic, go sustainable or shop Fair Trade?” We have all often stood in front of […]

Blockchain could boost global trade by $1 trillion

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Distributed ledger technology such as blockchain could boost trade by more than $1 trillion in the next 10 years. That’s the assessment of a World Economic Forum white paper released this week. Meanwhile, DLT is also set to […]

The start of the “Caffeine rush”: Coca-Cola acquires Costa Coffee days after Nestlé-Starbucks deal

Costa Coffee products (Copyright: Costa Coffee; Source: Costa Coffee website, Press area)

“There is no life before coffee”, a famous sentence says, giving some kind of indication on the size of two things: how difficult is to wake up every morning and the importance of the coffee industry. Last week will be remembered as a turning point in the history of the coffee industry in Europe and […]

More than one billion people do not have access to electricity. What will it take to get them connected?

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Peter LyonsCommunity Lead, Technology, Media, and Digital Industries, World Economic Forum & Frank RayalPartner, Xona Partners The United Nations’ Sustainable Development Goal 7 centres around achieving access to affordable, reliable and sustainable modern energy for all by 2030. […]

EU budget for 2019: do more for the young, SMEs and the climate, urge MEPs

This article is brought to you in association with the European Parliament. Next year’s EU budget should focus on young people, say MEPs, in a resolution voted on Thursday. Other priorities are growth, security, fighting climate change and migration. The resolution, which sets out principles for MEPs to follow in 2019 budget negotiations with the Council, […]

Trump’s MAGA policy remains unchanged as EU warns to impose additional retaliation tariffs on US products

EU threatened the US last Friday with tariff measures on 294 billion dollars of US exports in case Donald Trump’s administration imposes import tariffs on cars and car parts. The US president seems to be doing whatever possible to cause trade wars all over the world. The Old Continent will continue attempting to persuade Mr […]

State aid: Commission finds Luxembourg gave illegal tax benefits to Engie; has to recover around €120 million

This article is brought to you in association with the European Commission. The European Commission has found that Luxembourg allowed two Engie group companies to avoid paying taxes on almost all their profits for about a decade. This is illegal under EU State aid rules because it gives Engie an undue advantage. Luxembourg must now recover […]

IMF: The near-term outlook for the U.S. economy is one of strong growth and job creation

This article is brought to you in association with the International Monetary Fund. It has being released by IMF’s Communications Department IMF Staff Concluding Statement of the 2018 Article IV Mission for the United States of America A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most […]

China’s cities are rapidly becoming more competitive. Here’s why

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Briony Harris, Formative Content China’s cities are more competitive than in any other region of the world, according to a new report from consultants AT Kearney. The number of Chinese cities included in the 2018 Global Cities Index […]

Strengthening European unity is in all our interests, says Luxembourg PM Bettel

This article is brought to you in association with the European Parliament. Luxembourg’s Prime Minister Xavier Bettel debated the future of Europe with MEPs and EU Commission President Juncker on Wednesday. “It is in the interest of European states to strengthen the community and speed up the process towards a European Union, exactly in those areas […]

Why sustainable products are a win-win for all of us

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Sheri Hickok, General Manager – Global Product Development, General Electric Company What makes a product sustainable? According to Wikipedia, sustainable products are those that provide environmental, social and economic benefits while protecting public health and the environment over […]

America writes-off Iran, blocks Europe’s Tehran talks

While the European Union and more so Germany have being relentlessly working to save the nuclear non-proliferation deal with Iran, last Monday the new US Secretary of State, Mike Pompeo, shattered any opening for negotiations with Tehran. Until Pompeo dropped his bombshell, the EU was discussing a new pact with Iran, on the basis of […]

Is Germany closer to Russia than the West? Nord Stream II and Iran count more

Last Friday, Angela Merkel, the German Chancellor, rushed to Sochi, the Black Sea seaside Russian resort to meet Vladimir Putin. It was the first visit by a Western leader to meet him at home, after his fourth inauguration on 7 May as President of the vast country, this time for six more years. Looking through […]

“A global threat lies ahead worsened after the EU’s green light to the Bayer-Monsanto merger”, a Sting Exclusive by the President of Slow Food

This article was exclusively written for the Sting by Mr Carlo Petrini, founder and President of Slow Food, a global, grassroots organization, founded in 1989 to prevent the disappearance of local food cultures and traditions and counteract the rise of fast food culture. The opinion expressed in this piece belongs strictly to the writer and does not necessarily reflect The […]

Mainland Europe adopts Germanic cartel business patterns

As in VW’s diesel engines emissions scandal, in the case of Estonia’s half banking system working as mafia’s financiers, it was the Americans to unveil the wrongdoings. Is it by chance or the Europeans are looking the other way, when it comes to their own dirty laundry? Those calculated frame ups are not only meant […]

Germany to re-invent its security position in Europe and a chaotic world

At the Munich Security Conference of last week, the hottest criticism for the Grand Coalition agreement of Angela Merkel and Martin Schulz, coming from within and without the country was about not spending enough on armaments and security. The American Defense Secretary Jim Mattis focused on that Germany must spend 2% of GDP on defense, […]

Hungary and Ireland build front to say no to EU tax harmonisation plan

Viktor Orbán, Hungarian Prime Minister, at a 2015 event in Brussels, Berlaymont. (Copyright: European Union , 2015; Source: EC - Audiovisual Service; Photo: Lieven Creemers)

After last week, any effort from the European Union to harmonize corporate tax rules across the bloc will have to deal with a new opposition front. Last Thursday, Prime Ministers from Hungary and Ireland met separately in Budapest and expressed a firm rejection to any plan from Brussels to finetune regional tax regulations, saying that […]

VW diesel scandal and climate change: can increased independent car checks lead to cleaner mobility?

It was last Thursday when the European Parliament together with the Council and the Commission agreed to enhance the car testing system by providing extra checks to the cars that are or will be placed in the market based on the proposal of the European Commission made on January 2016. Despite the fact that this […]

A neo-liberal toll free Paradise for the super rich and tax hell for wage earners

Despite the hullaballoo in main stream media about Queen Elizabeth’s investments in tax-havens and the implication of the US Trade Secretary Wilbur Ross in a Russia related offshore firm, the shocking revelation in the Paradise Papers is that London appears as the largest money washing machine of the world. The biggest single disclosure is that […]

Amazon, Luxembourg and Ireland hit by EU’s latest turn of the screw over competition

Margrethe Vestager, European Commissioner for Competition, in Brussels - Berlaymont, last week. (Copyright European Union, 2017 / Source: EC - Audiovisual Service / Photo: Lukasz Kobus)

Last week, the European Commission has ordered Amazon to pay a 250 million euros ($293 million) bill in back taxes to Luxembourg, as a consequence of “undue tax benefits”. The Commission also announced that it is planning to take the Irish government to European court over its failure to recover €13bn in unpaid taxes from […]

Elections results: Austerity’s black to prevail in the new multicolored German government

During the past ten years, Germany has become a politically boring country and yesterday’s election is not going to change that, despite the loss of around one million votes for the Chancellor’s party. Angela Merkel’s win came to none’s surprise and the results permit her to embark on a fourth term in the top job. […]

EU’s Finance Ministers draft plan to raise tax bills of online giants like Google and Amazon

Digital multinationals such as Amazon, Facebook and Google may face higher tax bills in the European Union as a new plan for harmonised tax treatment of online companies has been discussed by EU Finance Ministers on Saturday. French finance minister Bruno Le Maire led the initiative and claimed on Friday nearly one third of EU […]

EU Council agrees to reform the system for motor vehicles but with “restricted” power for the Commission

It was last Monday when the EU ministers gathered in Brussels to draft new rules to prevent future emissions cheating from the automotive companies after the VW emissions scandal. The Council of Ministers from 28 countries proposed rules for cutting down the national authorities’ power giving at the same time the ability to the European […]

EU to give more power to national antitrust authorities in a bid to secure regulatory fines

Last week, the European Commission has proposed a new set of rules to give national antitrust authorities more power and resources against anti-competitive practices. The proposed rules, which followed a public consultation that was launched last year, are intended to make the bloc’s national competition agencies more autonomous but also more reactive against multinational firms […]

VW emissions scandal: While U.S. car owners are vindicated, Europe still unable to change its laws and protect its consumers

Volkswagen, the giant German automaker, has pleaded guilty to criminal charges in a Detroit federal court last Friday to conspiracy to defraud the U.S., commit wire fraud, and violate the Clean Air Act, obstruction of justice and import violations. However, VW still denies compensating European car owners arguing that a ‘technical fix’ can make cars […]

“We need to use the momentum globally to ensure that corporations pay their fare share of taxation”, EU Commissioner Valdis Dombrovskis outlines from the World Economic Forum 2017.

At the third day of the World Economic Forum 2017 in Davos, the session “Taxation without Borders: A Fair Share from Multinationals” took place where tax-base erosion and profit shifting policies were discussed in view of the Panama Papers and the fact that countries lose tones of money when multinationals implement such strategies. Emerging countries […]

Trump beats Clinton but Americans will learn the hard way that the US can’t change with an election

With a large part of voters disgusted from this US Presidential race, which reached unseen before heights of bitterness, hatred, toxic recrimination and another part of Americans ready to contest the result, had Donald Trump lost the race. In the end, he achieved a landslide win and will become the next President of the USA. […]

Will CETA be implemented after eight long years or it will be vetoed by the EU citizen?

It was last Sunday when the EU and Canada signed the free trade agreement CETA (Comprehensive Economic and Trade Agreement), despite the protest taking place just outside the European Council’s building. This deal is meant to create more jobs and growth through stronger economic relations. However, the approval of the national parliaments in Europe and […]