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Why Microsoft could be forced to pay more tax

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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.

FILE PHOTO: A smartphone is seen in front of the Microsoft logo in this illustration photo taken July 26, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

Taxation transparency

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.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Business

This investor sold its equity stake in Twitter during Musk takeover saga

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A Securities and Exchange filing has showed active investor Elliott Management has sold its equity stake, as well as cutting its exposure, to Twitter

The company previously held 10 million stocks in the social media giant, and was one of its major shareholders.

Twitter’s stock price dramatically rose in April, on the back of Elon Musk wanting to buy the company for approximately $44billion.

The after-effects of the takeover saga are still ongoing, with the billionaire and Twitter embroiled in a legal battle.

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Why a Bitcoin mining company is going against a major merger

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Bitcoin mining company PrimeBlock has ended plans to go public via a specialpurpose acquisition company (SPAC) merger with 10X Capital.

The firms terminated the agreement via mutual consent, according to a US Securities and Exchange Commission filing.

Plans for the merger were confirmed in April, with expectations that it would be completed in the second half of 2022, carrying an enterprise value of $1.25billion.

No official reason has been given for the decision, but it is believed the volatility of both the crypto and mainstream markets in recent months may be a factor.

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Tech

This will help million of Americans

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Adults with a hearing impairment will be able to purchase hearing aids directly from stores, pharmacies and online retailers, without the need of a prescription or doctor’s appointment

The U.S. Food and Drug Administration has approved this change, and it will come into effect in two months’ time, following years of campaigning.

The Biden Administration says this will make the devices more accessible and affordable for millions of American citizens.

The new rule only applies to certain air-conduction hearing aids and for people over the age of 18.

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