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EU Says 'Electroshock' Tax Plan for Internet Giants Set for March

The European Commission will present by the end of March its plan for overhauling tax rules for internet giants, aimed at making them pay up in the countries where they earn their profits, a top official said Sunday.

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Sony Profits Soar More than Tenfold, Forecast Revised Up

Sony said Friday its nine-month profit had soared more than tenfold, and upgraded its annual profit forecast, cementing a roaring recovery for the once-ailing tech titan of Japan Inc.

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As Cyprus Votes, Apathy and Economy Trump Unification for Youth

As Cyprus gears up for a presidential election run-off, apathy appears on the rise among young people more concerned by economic problems than the decades-long quest to reunify the island.

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Deutsche Bank Blames US Tax Reforms for 2017 Loss

Germany's biggest lender Deutsche Bank said Friday that Donald Trump's tax reforms in the US pushed it into the red in 2017. 

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Freed Saudi Billionaire Remains Chairman of Kingdom Holding

Riyadh-listed Kingdom Holding confirmed on Thursday that billionaire Prince Al-Waleed bin Talal remained its chairman, brushing aside speculation that he had forfeited control following his detention in an anti-corruption crackdown.

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Ferrari Races to New Records in 2017

Ferrari said Thursday that 2017 was "another record year" for the Italian luxury car maker, as it is raced into the pole position for increased profitability and output again this year and a further reduction in its debt.

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Tourism to Spain Hits New Record despite Catalonia Uncertainty

Spain welcomed a record number of foreign visitors for a fifth straight year in 2017, despite a double-digit drop in arrivals at the end of the year in crisis-hit Catalonia, official data showed Thursday.

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Ice, Ice Baby: Unilever Posts Rising 2017 Profits

Food and consumer products giant Unilever Thursday posted soaring 2017 profits of 6.5 billion euros ($8.05 billion), after a year of "major change" when it spurned a Kraft Heinz takeover bid.

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Nokia Widens Losses in 2017

Nokia said Thursday that its net loss widened in 2017, but that underlying profits improved, enabling the Finnish mobile phone maker to raise its forecasts for the coming years as operators prepare to roll out new lightning-fast 5G technology. 

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Eurozone Unemployment Holds at Nine-Year Low

Europe's economic recovery remains on track, with eurozone unemployment staying at its lowest level since January 2009, but inflation remains stubbornly low, official figures showed Wednesday.

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