IMPO Magazine News

EU Leaders Discuss Fight Against Tax Evasion

rimmel — Wed, 22 May 2013 18:15:56 +0000

BRUSSELS (AP) — European Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations' tax avoidance schemes.

European officials say tax fraud costs the 27-nation bloc an estimated 1 trillion euros ($1.3 trillion) a year at a time when much of the region is in recession and governments are forced to tighten their budgets.

British Prime Minister David Cameron said the EU has to be sure "that companies pay taxes and that means international collaboration, sharing of tax information."

Italy Seizes 1.2B Euros From Steel Family

rimmel — Wed, 22 May 2013 18:13:21 +0000

MILAN (AP) — Milan prosecutors have ordered the seizure of 1.2 billion euros ($1.5 billion) in assets belonging to the family that runs a troubled steel plant in southern Italy.

Prosecutors allege in the order Wednesday that the real estate, stocks and other financial assets belonging to the Riva family were obtained through the misuse of funds belonging to the Ilva steel plant. Brothers Emilio and Adriano Riva, founders of the company that owns the plant, are currently under investigation for fraud.

Tesla Shows Model S To Influence NC Auto Bill

rimmel — Wed, 22 May 2013 18:11:03 +0000

RALEIGH, N.C. (AP) — North Carolina lawmakers and passersby stopped to take in a display of Tesla Motors' award-winning electric cars Wednesday as the company presses against a bill in the General Assembly that effectively outlaws Tesla's Internet-based sales model.

The California automaker drew sporadic crowds around its Model S electric car outside the legislative building. The company is lobbying against a bill backed by the state's auto dealers that prevents electronic transactions with auto manufacturers.

Tesla Shows Model S To Influence NC Auto Bill

rimmel — Wed, 22 May 2013 18:11:03 +0000

German Co., Pepsi Open NY Yogurt Plant

rimmel — Wed, 22 May 2013 18:08:48 +0000

BATAVIA, N.Y. (AP) — A second yogurt plant is about to open in a Genesee County business park.

Sen. Charles Schumer says the Muller Quaker Dairy plant will have a grand opening on June 3. The $206 million dollar plant is a joint venture of PepsiCo and Germany's Theo Muller company.

The 350,000-square-foot plant in the Genesee Valley Agri-Business Park near Batavia will make a variety of yogurt products. Officials say it will have about 150 to 180 employees to begin with and will boost the local dairy farm economy.

Boeing Examining Speed-Ups On 787, 737

rimmel — Wed, 22 May 2013 18:07:27 +0000

NORTH CHARLESTON, S.C. (AP) — Boeing may accelerate production of two of its most popular planes — the 787 and the 737.

It's already doubling 787 production, from 5 per month last year, on its way toward 10 per month by the end of this year. The efficiency of the 787, Boeing's newest plane, has made it very popular with airlines. The company has orders for more than 800 that it hasn't built yet.

Indian Guest Workers Sue Company In MS, TX

rimmel — Wed, 22 May 2013 18:05:41 +0000

GULFPORT, Miss. (AP) — Dozens of Indian guest workers are suing an Alabama-based marine and fabrication company, claiming it financially exploited them and forced them to live in squalid conditions after bringing them to work at Gulf Coast shipyards after Hurricane Katrina.

Three federal lawsuits backed by the Southern Poverty Law Center were filed Tuesday in Mississippi and Texas on behalf of 83 people who worked for Signal International LLC after the 2005 storm slammed into the coast.

Safety Board: ATF Blocking Plant Blast Probe

rimmel — Wed, 22 May 2013 14:27:18 +0000

WACO, Texas (AP) — Federal agents and the state fire marshal have effectively barred a federal safety panel from the site of a Texas fertilizer plant blast that killed 15 people and injured about 200 others, hampering its investigation, the panel's chairman said.

U.S. Auto Factories Cutting Back On Summer Downtime

rimmel — Wed, 22 May 2013 14:25:40 +0000

DETROIT (AP) — The Detroit automakers are largely forgoing the traditional two-week summer break at their factories and speeding up production to meet buyers' growing demand for new cars and trucks.

Ford Motor Co. said Wednesday that 21 of its North American factories will shut for only one week this summer. That includes the Chicago plant that makes the Ford Explorer SUV and the Mexican plant that makes the Fusion sedan.

Fiat Industrial Considers Making Tax Home In U.K.

rimmel — Wed, 22 May 2013 14:24:16 +0000

MILAN (AP) — Fiat Industrial is considering moving its tax home to Britain after it completes the merger with its U.S.-based subsidiary CNH.

The possible move by the maker of heavy trucks, farm and construction vehicles would be a blow to the new Italian government of Enrico Letta, which is struggling to put public finances in order.

Fiat Industrial, based in Turin, said in a filing with U.S. security authorities last week that it would consider a U.K. residency, as remaining in Italy would subject it to Italian tax and other requirements that could increase costs.