McDonald’s to pay $1.3B to settle French tax cases

McDonald’s Corp. agreed to pay 1.25 billion euros ($1.3 billion) to settle probes in France where the Big Mac maker was accused of dodging taxes by unirly shifting revenue tofa Luxembourg and Switzerland. The twin settlements involve a 508 million-euro deal to end a French criminal probe into tax fraud allegations as well as the … Read more

Biden ally floats 21% surtax on oil profits to blunt inflation

Oil companies that record a profit margin better than 10% would face a new federal surtax under a plan developed by a key senator, as Democrats and the White House struggle to curb US energy costs and broader inflation. The proposal by Senator Ron Wyden, an Oregon Democrat who chairs the tax-writing Finance Committee, would … Read more