Classic cars, M’s letter opener, first-edition Fleming books and Daniel Craig’s sunglasses: all up for grabs in charity 50 Years of James Bond auction.
The cost of bailing out Spain’s banks could be as high as €100 billion, the ratings agency warned as it forecast a recession for the rest of this year and next.
THE NATIONAL TREASURY MANAGEMENT AGENCY has successfully raised €1.5bn in its latest bond auction – but has been forced into offering higher interest rates than it was two months ago.
Although the successful auction has resulted in nearly 90% of Ireland’s borrowing targets for 2010 being met already, just over halfway through the year, the auction was hit by Moody’s decision to downgrade Ireland’s rating yesterday.
The decision – which relabelled Irish debt from Aa1 to Aa2, meaning it was considered slightly riskier than previously – forced interest rates on ten-year bonds up to 5.537% – a significant increase on 4.72% rate offered only two months ago.
The rates offered on six-year bonds was slightly down on last month’s price, however. Bonds sold for 4.496%, down from 4.521% last month.
The NTMA has tried to portray the auction in a good light, however, saying it has guaranteed that the exchequer will be “fully funded” into the second quarter of 2011.
AT A HIGH-profile US Senate meeting, technology giant Apple was accused of using Ireland as a ‘tax haven’.
The multinational firm, which employs 4,000 people in Ireland, reportedly avoided paying €34 billion in US taxes by negotiating a tax rate of less than 2 per cent with the Irish government – significantly lower than that nation’s 12.5 per cent statutory rate.
The Senate heard that American children are losing out on education because Apple is transferring profits to Irish subsidiaries.
However, the Taoiseach Enda Kenny has denied that Ireland is a tax haven and rejected claims that authorities had negotiated deals with multi-national companies.
So, today we want to know, what do you think? Should Ireland be tougher on multi-national companies when it comes to tax?
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