Business

Apple Faces $14.5B Tax Bill After EU Investigation

Apple paid an effective corporate tax rate of just 0.005 per cent on its European profits in 2014 - equivalent to just €50 for every million, Vestager said. Apple said it would appeal against the ruling. "I disagree profoundly with the Commission", the Finance Minister Michael Noonan said. Since 2015 Apple has changed its structure in Ireland meaning that the previous ruling no longer applies from that year.

Business

Somalia vehicle bomb targets Mogadishu's SYL Hotel

Al Shabab fighters have claimed responsibility for other recent explosions in the Mogadishu area. The hotel is frequented by government officials and police said it believed the facility was the likely target. Al Shabaab's Radio known as Andaluz reported that the group was the mastermind of the explosion. The group appears to be stepping up its attacks ahead of planned elections in Somalia, with a president due to be elected by MPs in October.

Business

EBay Urges Canadian Businesses To Write To Trudeau Over Canada Post Dispute

We're now getting a better idea of what that job action will look like. Canada Post spokesperson Jon Hamilton doubts the threat of an overtime ban will pressure the Crown Corporation to back down, noting the two sides remain far apart on a number of issues.

Business

National Energy Board cancels first day of Energy East hearings after protests

The National Energy Board's review of the Energy East Pipeline is heading into what could be hostile territory when hearings resume today in Montreal. In March, protesters began chanting as soon as Louis Bergeron, Energy East's vice-president for New Brunswick and Quebec, began speaking. The president of a large union of construction workers says his members could benefit for five years from projects related to the pipeline.

Business

Gas prices in Rhode Island up 5 cents, to $2.20

Though higher, the average price per gallon is still about 9 cents lower than this time a year ago across the Palmetto State, which continues to offer the lowest gas prices in the nation. That means your Labor Day weekend getaway will cost drivers slightly more to fill up than it did on July Fourth weekend. The price was $1.91 four weeks ago and $2.26 a year ago.

Business

Trade dispute, policy divisions hang over Trudeau trip to China

David Mulroney, Canada's ambassador to China from 2009 to 2012, said Canada now "needs to ensure it will have regular meetings with Chinese officials". "China blames his predecessor for the current poor relations but still believes Trudeau could bring changes". "We were very firm in our dealings with China".