The death toll in a Taliban attack on a school in the city of Peshawar in Pakistan has risen to 126, an official says.
The rouble plunged more than 10pc for the second day on Tuesday and recorded its worst fall since the Russian financial crisis in 1998 as confidence in the central bank evaporated after an ineffectual overnight rate hike.
Senior members of the banking inquiry have today conceded the public will be disappointed in what it will be able to achieve, one day before public hearings are to commence.
Key features of Ireland’s role in the tax affairs of major technology companies such as Google and Microsoft are being targeted by the OECD’s base-erosion and profit-shifting (Beps) project, it has emerged.
Ideas being worked on by the Paris-based organisation could reduce the attractiveness of Ireland as a location for global tech companies, while at the same time reducing the amount of taxable profits such companies would be allowed book here. Commissionaire arrangements, where distinct legal entities promote and help organise sales that are then booked by affiliated subsidiaries in Ireland, may be designated as artificial arrangements under the new global rules the Beps project is working to put in place.
The rouble fell to a record as Russia’s attempt to defuse a crisis with the largest interest-rate increase since 1998 failed to revive confidence in the currency wrecked by slumping oil and international sanctions.
Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s currency pegs, first felling Thailand’s in July. The rout spread through Asia before rocking Brazil and Russia. It led to the collapse of Long-Term Capital Management, an event that introduced the Federal Reserve-brokered bailout.
The European Union’s new anti-trust chief said the EU is braced for a legal battle with governments embroiled in its probe of sweetheart tax deals for multinationals from Apple to Amazon.
Euro Topics: Denmark struggling with failed integration: More than half of the respondents in a Gallup survey conducted in Denmark believe the tone in the debate over refugees has become too harsh. But there are simply already too many problems that need to be discussed, the conservative daily Berlingske argues: "Almost 50 percent of the immigrants from non-Western countries aged between 30 and 59 live on social benefits. This proves that the Danish social model is ill equipped to integrate foreigners on the labour market. The failure of the integration measures is apparent in many statistics. To bring up these problems is not to adopt an 'inhumane tone' in the debate. ... It is simply the observation that we face enormous challenges and that these challenges will grow as the influx of refugees increases."
Pegida pushes Europe to discuss immigration: Europe must discuss immigration using modern arguments rather than the current clichés, the conservative Spanish daily La Vanguardia urges in reaction to the Pegida anti-Islam alliance's demonstration on Monday in Dresden:
Illusion of safety shattered: Through its participation in the war on terror Australia became a direct target of the terrorists, the left-liberal daily The London Independent explains: "For the past 10 years or so, Australian governments - and the public - have kidded themselves that they could have it both ways. They could join US-led adventures in Afghanistan and Iraq, earning themselves kudos with Western allies. And they could feel more or less safe from any kind of terrorist backlash, convinced that Australia was too small and too distant to become a target. Sure, there were bombs in Bali and elsewhere which claimed Australian lives - far too many lives. But those were targeted at Westerners generally, not specifically at Australians. ... Now, here in Australia, that sense of invulnerability has been shattered."
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