Tax summit
ABOUT 150 delegates are attending a tax and revenue summit on Bougainville to find ways to grow the autonomous region’s economy and tax base. Bougainville president John Momis said the summit was critical for the region so it did not have to depend on handouts from Papua New Guinea. The summit ended yesterday.
$5.2b savings
ZURICH – Nestle said on Tuesday it was expecting to increase permanent savings to 2-2.5 billion Swiss francs until 2020 in order to support its targeted margin improvement. Chief financial officer Francois Roger told investors the Swiss food group was also expecting restructuring costs of about 2.5 billion Swiss francs ($F5.2b) from 2016 to 2020.
Market debut
SHARES of video streaming firm Roku Inc rose more than 67 per cent in their market debut on Thursday, giving the US IPO market a much-needed shot in the arm. Roku ended trading on the Nasdaq with a share price of $23.50, giving it a market capitalisation of about $US2.23 billion ($F4.5b).
Security requests
Apple Inc received more than three times as many national-security related requests from the US Government in the first half of this year versus a year ago, according to a company report on Thursday. Apple said it had received between 13,250 and 13,499 national security requests affecting between 9000 and 9249 users.
