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Multinational Companies

All articles tagged with #multinational companies

business1 year ago

"Netherlands' Secret Efforts to Retain ASML Amid Foreign Labor Concerns"

The Dutch government is engaging in talks with semiconductor equipment maker ASML to prevent the company from relocating or expanding abroad due to concerns over anti-immigration policies. ASML's CEO has expressed worries about the impact of potential restrictions on skilled foreign labor, as around 40% of the company's employees in the Netherlands are non-Dutch. The company's expansion plans and reliance on global talent have raised concerns about the business climate in the Netherlands, with potential consequences for the country's tech industry.

via Reuters|
#asml#business#immigration-policies
economics1 year ago

"China's Foreign Direct Investment Hits 30-Year Low in 2023"

China recorded the lowest level of foreign direct investment since 1993, with new investment dropping by 82% in 2023 compared to 2022. This reflects the impact of Covid lockdowns and a weak recovery. Foreign companies are pulling money out of China due to geopolitical tensions and higher interest rates elsewhere, with Japanese, Taiwanese, and South Korean firms reducing investment. However, German companies reached a record level of investment in China, demonstrating an eagerness to expand in the country despite increased scrutiny from the European Union.

via Fortune|
#china#covid-19#economics
business2 years ago

Unilever's Russian workforce subject to conscription

Unilever has confirmed that it will allow its 3,000 Russian workers to be conscripted into the Ukraine war, citing compliance with Russian law. This decision has sparked criticism as other multinational companies have exited the Russian market due to the conflict. Unilever, which owns brands like Marmite and Dove, has faced accusations of being a sponsor of war by the Ukrainian government. The company argues that exiting Russia is not straightforward and that allowing the business to continue operating with strict constraints is the best option to avoid potential appropriation by the Russian state. If conscripted, Unilever employees' contracts would be suspended and wages would not be paid.

via The Telegraph|
#business#conscripted-workers#multinational-companies
economics2 years ago

India's Bold Move: Pushing G20 to Tax Excessive Corporate Profits

India will urge its G20 partners to support its proposal to increase the share of taxes paid by multinational companies to countries where they earn "excess profits." The proposal, which has not been previously reported, could impact the progress of a global corporate taxation overhaul. Under the current plan, a minimum 15% tax would be levied on large global firms, along with an additional 25% tax on "excess profits." India is seeking significant increases in the tax paid in countries where these firms do business. The issue will be discussed during the G20 meeting, where India will also propose de-linking withholding taxation from the excess profit tax principle.

via Reuters India|
#economics#excess-profits#g20
business2 years ago

Major Companies Pledge to Hire Thousands of Refugees in Europe

Multinational companies including Amazon, Marriott, and Hilton have pledged to hire over 13,000 refugees, including Ukrainian women who have fled the war with Russia, over the next three years in Europe. More than 40 corporations say they will hire, connect to work or train a total of 250,000 refugees, with 13,680 of them getting jobs directly in those companies. Amazon leads the pack, vowing to hire at least 5,000 refugees over the next three years in Europe, followed by Marriott and Hilton with 1,500 each, Starbucks and ISS with 1,000 each, and smaller commitments from brands like Adidas, L’Oreal, PepsiCo, and Hyatt.

via The Associated Press|
#amazon#business#europe
business2 years ago

"Big Companies Commit to Hiring and Training 250,000 Refugees in Europe for World Refugee Day"

41 multinational companies have pledged to provide jobs, training, and connections to work opportunities for over 250,000 refugees in Europe, ahead of World Refugee Day. The pledges will be carried out over the next three years and include companies such as Amazon, Cisco, Hilton, Marriott International, Microsoft, and Starbucks. The Tent Partnership for Refugees, a global business coalition of over 300 companies, organized the business summit in Paris. The focus is on Ukrainian refugees, whose numbers swelled to over 5 million last year.

via CNN|
#business#economic-integration#job-opportunities