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As muddled and broken as the individual income tax system may be, the rules under which the government collects corporate levies are far more loophole-ridden and counterproductive.

Unlike individuals, multinational corporations can shuttle profits — and sometimes even their headquarters — around the globe in search of the jurisdiction willing to cut them the best deal on taxes (and often other economic incentives). Much of this occurs under the guise of “transfer pricing,” the terms under which one subsidiary of a multinational sells products to another subsidiary. The goal is to generate as high a share of profit as possible in the lowest-taxed jurisdictions.

subsidiaries of United States corporations operating in the top five tax havens (the Netherlands, Ireland, Bermuda, Switzerland and Luxembourg) generated 43 percent of their foreign profits in those countries in 2008, but had only 4 percent of their foreign employees and 7 percent of their foreign investment located there.

Ireland has long had one of the lowest corporate tax rates in Europe; it’s currently 12.5 percent.

it did a lot more than simply offer a low corporate tax rate. It set itself up as a kind of European tax haven, so that companies like Google, Facebook, Microsoft and others could, in effect, buy an Irish address to which they could transfer a great deal of their intellectual property and route profits accrued elsewhere through the Irish subsidiary. This is called transfer pricing. Companies could also take advantage of other loopholes in the Irish tax code to get their tax bill considerably lower than 12.5 percent.

In 1991, Apple essentially negotiated how much tax the company would pay. It did so after it had explicitly “mentioned by way of background information that Apple was now the largest employer in the Cork area with 1,000 direct employees and 500 persons engaged on a sub-contract basis,” again according to Almunia’s letter. Apple also acknowledged that it had “no scientific basis” for the amount of tax it was willing to pay. The deal was then “reverse engineered” so that Apple’s profits would wind up in the range that would yield the suggested taxes.

A growing number of scholars believe that the ecological transformation set off by Columbus's voyages was one of the establishing events of the modern world. Why did Europe rise to predominance? Why did China, once the richest, most advanced society on earth, fall to its knees? Why did chattel slavery take hold in the Americas? Why was it the United Kingdom that launched the Industrial Revolution? All of these questions are tied in crucial ways to the Columbian Exchange.

the common nightcrawler and the red marsh worm, creatures that did not exist in North America before 1492.

Intoxicating and addictive, tobacco became the subject of the first truly global commodity craze.

Tragedy ForgesAlliance for Change After a young rugby player died in Northern Ireland, his family anda brain expert set about to establish concussion guidelines in Britain.

As a heartbroken Mr. Robinson and his family left the Old Townhall Courthouse in Belfast, Northern Ireland, that day in September 2013, they were told they could slip out the back to avoid the news media. But Mr. Robinson was determined that his son should not die in vain, so he, along with his ex-wife, Karen Walton, and their families, exited through the front, spoke to a scrum of reporters and instantly landed among the most vocal advocates for concussion safety standards in Britain.

Within months, Mr. Robinson was meeting with politicians, sports executives, professional athletes and, most important, Dr. Willie Stewart, the foremost scientist on the subject in Britain who formed a bond with Mr. Robinson that has helped produce some of the most comprehensive concussion guidelines in the world.

Instead of grappling with the hard choices the vote required, May pretended that Brexiteers could have everything they wanted: London would get back control of regulatory decisions. And the border with Ireland would stay open. The fact that these two promises were incompatible was never addressed. She just kept on pretending that it was all possible and that people should have greater faith. 

The most common idea among Brexiteers is that they will use “high-tech solutions” to remove the need for checks at the border. But the technology they are wishing for does not exist anywhere on Earth. It is science fiction.

Also discernable were a hatred of practical judgment and a bubbling tide of chest-beating jingoistic nationalism

For Aldi, the panic and rush is an integral part of the shopping experience for two reasons. The first is the happy realisation once you have left the store, and your heartbeat has settled, that you have spent less time shopping than you would have in a typical supermarket. The second, and most important, is what Aldi managers describe, straight-faced, as “the thrill at the till”: your trolley full of goods has cost less than you thought it would. The rushed, no-frills experience isn’t something you merely endure for the sake of saving money; the awareness of your savings makes that experience a pleasure in itself.

Aldi is still relatively low-tech: without a loyalty programme, it knows little about individual customer preferences and you can’t buy its groceries online. What it has done is disrupt a mindset: the settled wisdom about how we think of ourselves as shoppers, and the basis by which we identify with a particular supermarket. Aldi’s victory was to show that there was no shame – and in fact there was satisfaction – in shopping at a discount supermarket

“Aldi’s customer profile is now classless,” said Hyman. “The supermarket is as strong with affluent people as it is with people on low incomes.”

a victory for the forces of King William III (William of Orange) of England over the former king James II

James, a Roman Catholic, had been forced to abdicate in 1688 and, with the help of the French and the Irish, was attempting to win back his throne. William’s victory over James blunted attempts to restore Catholicism in Britain

a victory for the Protestant cause on July 12

Rycroft, who was the most senior civil servant at DexEU until March this year, told the Guardian a no-deal Brexit would mark the beginning of a complex series of negotiations.

“It is not a clean break: what it does is it takes us legally out of the EU. But what it can’t do is undo all of the very close economic ties that we have with the EU, on which so much of our trade as a country depends. And nor would we want to undo all of the close security ties that we have with the EU,” he said.

“And because of the importance of those ties both for the EU and the UK, it will remain hugely important to have those expressed through a formal relationship. In other words, we’re going to have to negotiate – and that negotiation on the future relationship starts with citizens, money and the border on the island of Ireland.

The prime minister has warned the coronavirus crisis "will get worse before it gets better", in a letter being sent to every UK household.

Boris Johnson, who is self-isolating after testing positive for Covid-19, says stricter restrictions could be put in place if necessary.

Britons will also get a leaflet detailing government rules on leaving the house and health information.

When I wrote a couple of columns criticizing Israel as well as Hamas over the recent Gaza war, I had pushback from readers who asked: So what would you have Israel do?

“How should, in fact, Israel respond when Hamas launches thousands of rockets?” Ryan asked. On my Facebook page, Joel put it this way: “Mr. Kristof, what do you recommend that Israel do in response to rocket attacks? What would the American response be to repeated rocket attacks from Mexico or Canada on American cities?”

We probably would not turn the other cheek: When the Mexican revolutionary leader Pancho Villa attacked a New Mexico town in 1916, the United States sent 6,000 troops into Mexico (albeit after getting Mexico’s permission). And in response to the 9/11 attacks, America invaded both Afghanistan and Iraq.

1,1831183Chuck Feeney has achieved his lifetime ambition: giving away his $8bn (£6bn) fortune while he is still around to see the impact it has made.

For the past 38 years, Feeney, an Irish American who made billions from a duty-free shopping empire, has been making endowments to charities and universities across the world with the goal of “striving for zero … to give it all away”

This week Feeney, 89, achieved his goal.

Prime Minister Boris Johnson rolled out ambitious, back-to-back initiatives on military spending and climate change this week, which have little in common except that both are likely to please a very important new person in Mr. Johnson’s life: President-elect Joseph R. Biden Jr.

The prime minister, whom President Trump has embraced as a like-minded populist, is eager to show he can work with the incoming president as well as he did with the outgoing one.

That is important, analysts said, because Brexit will deprive Britain of what had historically been one of its greatest assets to the United States: serving as an Anglophone bridge to the leaders of continental Europe.

From Ireland to Turkey, Europeans are all related, sharing a link with ancestors who were alive just 1,000 years ago, according to a new genetic study.

Peter Ralph and Graham Coop of the University of California used genomic data for 2,257 Europeans to conduct the first such study of an entire continent.

A separate study, based on DNA recovered from ancient skeletons, revealed last month that the genetic makeup of modern Europe was established by a wave of newcomers to the continent 6,500 years ago, more recently than previously thought.

This is the way the euro ends — not with a bang but with bunga bunga. Not long ago, European leaders were insisting that Greece could and should stay on the euro while paying its debts in full. Now, with Italy falling off a cliff, it’s hard to see how the euro can survive at all.

if you look around the world you see that the big determining factor for interest rates isn’t the level of government debt but whether a government borrows in its own currency. Japan is much more deeply in debt than Italy, but the interest rate on long-term Japanese bonds is only about 1 percent to Italy’s 7 percent. Britain’s fiscal prospects look worse than Spain’s, but Britain can borrow at just a bit over 2 percent, while Spain is paying almost 6 percent. What has happened, it turns out, is that by going on the euro, Spain and Italy in effect reduced themselves to the status of third-world countries that have to borrow in someone else’s currency, with all the loss of flexibility that implies. In particular, since euro-area countries can’t print money even in an emergency, they’re subject to funding disruptions in a way that nations that kept their own currencies aren’t

in the face of the current crisis, austerity has been a failure everywhere it has been tried: no country with significant debts has managed to slash its way back into the good graces of the financial markets. For example, Ireland is the good boy of Europe, having responded to its debt problems with savage austerity that has driven its unemployment rate to 14 percent. Yet the interest rate on Irish bonds is still above 8 percent — worse than Italy.