Google and Amazon refuse to yield in tax row - Telegraph: ". . . .In a report published on Monday, the Public Accounts Committee (PAC) accused Amazon, Google and Starbucks of “immorally minimising their tax obligations”. The report also called for the Government to “get a grip on large corporations which generate significant income in the UK but pay little or no tax”. Starbucks announced at the weekend that it had entered into talks with HMRC having “listened to feedback from our customers and employees”. The coffee chain admitted that to “further build public trust, we need to do more”. The company said it would release details of its proposed tax arrangements later this week. On Monday, Margaret Hodge, chairman of the PAC, said that Starbucks’ climb-down was “very promising.” During recent evidence to the PAC, it emerged that over the past three years Amazon’s UK division has paid just £2.3m corporation tax on £7.1bn sales. Google paid £6m corporation tax on £2.5bn of UK revenues in 2011. Google stuck by the comments of it UK boss, Matt Brittin, who said last week that the company “plays by the rules set by politicians”."
Yeah, this is interesting--the multinationals play by the rules made by politicians--then the politicians blame the multinationals for playing by the politicians rules!
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Oil Prices Drop, Despite Heightened Sanctions on Russian Crude - The price of oil fell by about 10 percent this week, easing (for now) supply worries about the E.U. embargo and a price cap.