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E.U. ends tax breaks that benefit Starbucks, Apple
Brussels – Major multinational retailers such as Starbucks and Apple will have to start paying higher taxes in Europe, thanks to a move by the European Union (E.U.) to end certain tax breaks it has now defined as “state aid,” which is prohibited by E.U. bylaws. These breaks, which member nations including Ireland, Luxembourg, and Netherlands have used to allow some types of profit to be classified as tax-deductible debt, had come under fire from other E.U. nations and the U.S.
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Report: Abercrombie installing in-store mobile charging stations
New Albany, Ohio – Abercrombie & Fitch is reportedly rolling out charging stations for mobile phones and tablets in its stores. According to TheStreet, there are currently two Abercrombie & Fitch stores with mobile charging stations installed, and the retailer plans to roll out the stations at several more Abercrombie and Hollister stores by the end of the year.