Consumer spending falls in April 2013
On May 31, 2013, a government report found that consumers pulled back on spending in the month of April 2013, as their income remained steady. The report mentions that spending decreased 0.2% in April 2013 when it was adjusted for…
Walmart fined for improper disposal of hazardous waste
American-based retail giant Walmart has been recently criticised for dumping pollutants from its stores into drains of 16 California counties. The retail giant will have to pay a fine of $81 million as part of the plea after it pleaded…
All Nippon Airways begins 787 Dreamliner operations
The All Nippon Airways of Japan has once again started the commercial flights of the Boeing 787 Dreamliner. This is the first time flights were resumed since the planes were grounded due to safety reasons. After resuming the service, the…
McDonald’s defends obesity allegations
Fast food giant McDonald’s was recently faced with allegations that it serves unhealthy food which causes obesity. Don Thompson, the company’s chief executive, defended these concerns and said that they do not sell junk food. Thompson added, “We sell a…
Amazon announces e-book fan fiction sales in US
Internet shopping giant Amazon has announced that the fan fiction authors will be able to sell some of their work on the firm’s Kindle e-book platform. The fan fiction is literature that is inspired by popular films, books and TV…
European leaders to fight against tax evaders
On May 22, 2013, European leaders have determined to fight against tax cheaters and have pledged to share bank account data across the European Union and also accelerate the initiatives to tackle abuse by companies. The leaders are facing a…
International tax action demanded by Republic of Ireland
A politician from the Republic of Ireland says that the international community must work together in order to stop large multinational firms that use cross-border tax loopholes. Richard Bruton, Enterprise minister, said that they play the tax codes one against…
Discretionary spending not increased despite low gas prices
Recent survey report has revealed that the gas prices in the US have slightly gone down in 2013, but this is not leading to a large consumer spending. It was noticed that about 80% of the 1000 people who were…
LPG companies to stop supplying households with multiple-connections
The PSU Oil Marketing Companies have been directed not to supply households with multiple-connections with LPG, for which no Know Your Customer (KYC) details have been submitted. This will come into effect on June 1, 2013. Transactions, including the delivery…
China to help Indian companies with marketing
On May 16, 2013, industry body Assocham said that China is interested in helping the Indian exporters market their products in that country. The widening trade deficit with China has been a major issue of concern for India. This issue…