Tech giant Microsoft is facing increasing pressure to publish its tax data with investors demanding transparency
Investors who are managing more than $350 billion of the company’s assets want access to further financial information.
It comes as tech giants globally face growing scrutiny over their tax affairs.
Investors are demanding that Microsoft publish more transparent tax and financial information, as tech giants face growing scrutiny globally over their tax affairs.
A shareholder resolution on tax transparency had been filed to Microsoft ahead of its annual investor meeting this year.
The organiser of the action is UK-based proxy advisers Pensions & Investment Research Consultants.
Investors including Nordea, AkademikerPension and Greater Manchester Pension Fund had backed the resolution.
The resolution calls on the company to publish financial and tax information on a country-by-country basis outside its home market of the United States.
The investors want to know whether Microsoft is paying fair taxes and identify any risks posed by tax reforms.
It also calls on Microsoft to produce a tax transparency report in line with the tax standard of the Global Reporting Initiative, a standards organisation.
Microsoft waa not immediately available for comment.
It comes as Microsoft revealed Russian government hackers carried out multiple cyber operations against Ukraine.
ChatGPT creator releases tool to detect A.I. generated text
OpenAI has released a software tool that can identify if text has been generated by artificial intelligence
The company behind the popular chatbot ChatGPT says it has trained a language model to distinguish between something written by a human, and A.I.
‘AI Classifier’ uses a variety of providers to address issues such as automated misinformation campaigns and academic dishonesty.
The detection tool is very unreliable on texts under one thousand characters, and AI-written text can be edited to trick the classifier.
Many schools across the world have already banned ChatGPT from being used for projects.
Elon Musk asks court to throw case out
Twitter CEO Elon Musk has asked a judge in the U.S. to throw out a case against him
The suit claims Musk’s delayed disclosure over his large stake in the social media giant defrauded shareholders, who sold out at artificially lower prices.
Musk says investors in the proposed class action have no independent right to obtain damages.
The CEO believes he properly disclosed his stakes in Tesla and the former SolarCity Corp on several occasions, as per requirements.
Samsung reports lowest quarterly profit in eight years
Samsung has reported its lowest quarterly profit in eight years, dropping 69 per cent
The company believes sluggish demand and macroeconomic uncertainty will make for a tough first half, though demand will likely recover in the second half.
The South Korean tech giant made $3.5billion profit for the quarter – the lowest since 2014 – with revenue down eight per cent.
In its chip business, profits also plunged when compared to year ago.
Memory chip prices are widely expected to decline further in the first quarter as customers continue to hold off purchases and use up existing inventory while device demand remains depressed.
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