BRUSSELS - Europe moved closer to ending banking secrecy on Wednesday after Austria dropped objections to sharing data on foreign depositors and the EU focused on negotiating a similar agreement with Switzerland.
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DUBLIN - Ireland called on Wednesday for an international clampdown on multinationals shifting profits around the world to avoid tax, after criticism that Irish loopholes helped technology giant Apple to shrink its tax bill.
TOKYO - Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17 percent for the year to end-March 2015, but said there were "encouraging" signs of a revival in its electronics business.
LONDON - Pearson's Penguin said on Wednesday it would pay $75 million in damages plus costs and fees as part of an agreement with the United States over alleged price-fixing in the e-book market.
- Video game maker Atari Inc is seeking court approval for the sale of all its assets as it works its way out of bankruptcy protection.
MADRID - Spanish telecoms operator Telefonica lowered prices on smartphones by between 15 and 30 percent in its domestic market on Wednesday to fight increasing competition in the recession-hit country.
The Yahoo-Tumblr deal’s most pressing issue isn’t what will come of balance sheets, it’s what will come of each organization’s corporate culture.