Article Title | Sentiment | Date | Summary | Stock | Id | Author |
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Prosecutor opens probe of McDonald's practices in Brazil | -17 | 2016-03-03 00:00:00 | A federal prosecutor in Brazil has opened a probe into whether fast food giant McDonald's has violated the countries tax laws. (Photo: DOUGLAS ENGLE, Associated Press)A federal prosecutor in Sao Paulo on Thursday opened an inquiry of fast food giant McDonald's operations in Brazil. They manage to get around the tax laws by paying inflated royalty payments, which are taxed at a lower rate, the union alleges. McDonald's deferred comment on the probe to Arcos Dorados. The high rents and the contract terms leads to the franchisees charging inflated prices to consumers, the consumer groups allege. | MCD | {"Est March","P M","Aamer Madhani"} | 639 |
McDonald's Said to Face EU Probe Into Luxembourg Tax Deals | -8 | 2015-12-02 00:00:00 | Independent franchisees, who operate some 75 percent of McDonald’s European restaurants "also pay corporate tax and many other taxes. The Grand Duchy may have approved hundreds of tax deals for multinational corporations. Apple’s tax deals with Ireland are also being examined by the EU, while Starbucks was told to pay back taxes to the Netherlands. The company’s French offices were inspected by the country’s fiscal authorities in 2013 and the EU inquired about McDonald’s taxes in Luxembourg, people familiar with the matter said last year. The McDonald’s case is the third to focus on Luxembourg, adding to the probe into Fiat and Amazon. | MCD | {"Aoife White Gaspard Sebag","Aoife White","Gaspard Sebag"} | 640 |
Jail Terms and Fines for Supplier to McDonald’s and Yum Brands in China | -18 | 2016-02-02 00:00:00 | It was not clear whether Mr. Yang, who the court said was an Australian citizen, would serve jail time in China. Nine other people in the case will be given shorter jail terms and will have to pay fines. A senior executive for OSI in China said last July that the scandal had cost the firm nearly a billion dollars in lost revenue. The Shanghai Jiading People’s Court said in a statement on Monday that Yang Liqun, a general manager at OSI China, would be sentenced to three years in prison and deported. The verdict is the end of a long-running investigation into OSI after a safety scandal in 2014 involving the fast-food giants it supplied — McDonald’s and Yum Brands, owner of KFC, Pizza Hut and Taco Bell in China. | MCD | {} | 1113 |