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Disney in talks to buy major stake of Twenty-First Century Fox, CNBC reports

cbc news - Mon, 11/06/2017 - 15:24

Rupert Murdoch-controlled Twenty-First Century Fox has held talks to sell most of the company to Walt Disney Co, CNBC reported on Monday, citing unnamed people familiar with the matter.

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Bono's Lithuania shopping mall investment draws flak from local tax authority

cbc news - Mon, 11/06/2017 - 15:16

Leaked documents reveal that for more than a decade, Bono, whose real name is Paul David Hewson, has secretly been part-owner of a shopping mall in Lithuania, which one expert describes as “a crude violation of the tax code.“

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Broadcom in $103B US bid for rival chipmaker Qualcomm

cbc news - Mon, 11/06/2017 - 15:07

Broadcom made an unsolicited, $103 billion US offer for rival chipmaker Qualcomm, the tech industry's largest attempted takeover that is destined to come under intense regulatory scrutiny.

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Valeant expected to take big writedown on sale of female libido drug

cbc news - Mon, 11/06/2017 - 13:45

Valeant Pharmaceuticals International Inc. has signed a deal to sell its Sprout Pharmaceuticals subsidiary and its female sexual dysfunction drug to the company's former owners.

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Nike shifted billions in profits from Europe to tax-free Bermuda, Paradise Papers leak shows

cbc news - Mon, 11/06/2017 - 13:00

Leaked files from the global law firm Appleby show how the global sportswear giant Nike was able to divert billions of dollars in profits earned in Europe to the tax-free jurisdiction of Bermuda with the help of authorities in the Netherlands, its European headquarters.

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Wanna knock a few million off your luxury jet? There's an offshore tax scheme for that

cbc news - Mon, 11/06/2017 - 13:00

Everyone from a Formula One driver to a Saudi prince and U.S. President Donald Trump has benefited from a little-known subspecialty of the offshore tax world: registering their luxury jets and yachts in tax havens such as Bermuda or the Isle of Man to avoid paying millions of dollars in taxes.

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Ex-PM Chrétien lobbied for African oil company he didn't know was based in tax haven, he says

cbc news - Mon, 11/06/2017 - 12:44

A new leak of tax-haven records shows a number of Canadians have been involved in a sometimes dodgy, potentially massive oil venture in East Africa — including former prime minister Jean Chrétien.

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'We have stumbled': crypto fund NextBlock Global pulls plans to go public

cbc news - Mon, 11/06/2017 - 12:11

NextBlock Global, a venture capital fund that invests in blockchain technologies, has shelved its plans to go public following reports of falsehoods in some of its marketing materials.

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Wilbur Ross says nothing improper about his business link to Putin's inner circle

cbc news - Mon, 11/06/2017 - 10:34

U.S. Commerce Secretary Wilbur Ross said there was nothing improper about his investments in a shipping firm with significant ties to Russian President Vladimir Putin's inner circle, a day after the Paradise Papers shone light on his investments.

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Oil hits 2-year high as Saudi graft crackdown raises prospect of production cuts

cbc news - Mon, 11/06/2017 - 10:15

The price of oil has risen to its highest point in two years as Saudi Arabia's heir to the throne consolidates power by arresting rival princes, government officials and military leaders as part of an anti-corruption probe.

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CRA promises 'appropriate action' on tax haven use after Paradise Papers leak

cbc news - Mon, 11/06/2017 - 08:47

The Canadian Revenue Agency is promising action after an international investigation pulled back the curtain on more than 3,000 Canadian companies, trusts, foundations and individuals who use offshore accounts.

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More than 3,000 Canadian names in the Paradise Papers

cbc news - Mon, 11/06/2017 - 05:00

A supermarket giant, an NHL hockey team, several billionaires and a yacht captain. These are just a few of the roughly 3,300 Canadian companies, trusts, foundations and individuals whose names appear in the massive international leak of offshore records.

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Queen's estate 'not aware' it held indirect offshore investment in stores accused of exploiting poor

cbc news - Sun, 11/05/2017 - 13:00

Leaked documents from offshore law firm Appleby show that the Queen — through investments made by the monarch’s private estate, the Duchy of Lancaster — has held stakes in funds that operate in tax-free havens.

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Trudeau's chief fundraiser linked to Cayman Islands tax scheme

cbc news - Sun, 11/05/2017 - 13:00

A massive leak of data from an offshore law firm has revealed that Stephen Bronfman and his Montreal-based investment company were key players linked to a $60-million US offshore trust in the Cayman Islands that may have cost Canadians millions of dollars in unpaid taxes.

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Billionaires' law firm helped wage 'Kill Bill' campaign to block offshore tax legislation

cbc news - Sun, 11/05/2017 - 13:00

A Montreal law firm representing clients closely connected to the federal Liberal Party was a leading player in a campaign a decade ago to block offshore tax legislation, a CBC News/Toronto Star investigation has found.

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U.S. Commerce Secretary Wilbur Ross benefited from ties to Putin's inner circle, offshore tax leak shows

cbc news - Sun, 11/05/2017 - 13:00

U.S. Commerce Secretary Wilbur L. Ross Jr. has a stake in a shipping firm that receives millions of dollars a year in revenue from a company whose key owners include Russian President Vladimir Putin's son-in-law and a Russian tycoon sanctioned by the U.S., newly leaked documents show.

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Why you're addicted to your smartphone: CBC's Marketplace consumer cheat sheet

cbc news - Sun, 11/05/2017 - 09:00

If you've been too busy this week to keep up with health and consumer news, CBC's Marketplace is here to help.

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