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Facebook faces backlash over £7.4m UK tax bill

Facebook faces backlash over £7.4m UK tax bill

Technology
The chancellor is under growing pressure to impose tougher taxes on multinational firms following the publication of Facebook's latest UK accounts. Documents released on Monday showed the company paid a net £7.4m in corporation tax last year after an £8.4m credit for staff share awards cut the total from £15.8m.Facebook had booked a 7.5% increase in pre-tax profits to £62.8m on revenues of almost £1.3bn - up almost a third on 2016.It pointed to damage to profitability from a £759m cost of sales and £444m in "administrative expenses" that were not explained.Facebook - like other US-based international companies - point out that taxes paid are within the legal frameworks of the nations in which they operate.There have been multilateral effor...
Facebook's UK tax bill jumps as profits rise

Facebook's UK tax bill jumps as profits rise

Technology
Facebook's UK tax bill has tripled to £15.8m - but the social media giant will see an immediate cut because of a tax credit.The final bill comes to £7.4m, since Facebook will see tax relief of £8.4m after awarding shares to employees.In 2016, Facebook's tax bill rose to £5.1m, following a major overhaul of the social media firm's tax structure.However, the company's profits only climbed by £4m year-on-year from £58.4m to £62.7m in 2017. The company's UK office provides marketing services and sales and engineering support to the company. Facebook's revenue rose by a third year-on-year to £1.2bn in 2017, because of increased revenues from inter-company and advertising reseller services in 2017."We have changed...
Bill Cosby led away in cuffs after being jailed

Bill Cosby led away in cuffs after being jailed

Entertainment
Television actor Bill Cosby has been jailed for up to a decade for sexually assaulting a woman in 2004. Judge Steven O'Neill sentenced the 81-year-old comedian to three to 10 years behind bars and fined him $ 25,000 (£19,000) in a Pennsylvania courtroom.He told Cosby, who is the first celebrity of the #MeToo era to be sent to prison, that he was not entitled to bail while he appeals against his conviction.After sentencing, Cosby was led away from court in handcuffs and taken to jail.Prosecutors had been seeking a term of five to 10 years in prison. Cosby's defence lawyers asked for house arrest.The former Cosby Show star, who was known to millions as "America's Dad", was convicted in April of drugging and molesting Temple University employee Andrea Constand at his Phil...
Bill Gates calls for more global education assessments data

Bill Gates calls for more global education assessments data

Technology
Bill Gates is rallying behind school quality in developing nations with a push for more assessment data, a new initiative that links the Microsoft co-founder's signature U.S. education priorities with his more prominent global philanthropy work. The Bill and Melinda Gates Foundation as the world's largest philanthropy issued its latest "Goalkeepers" report on Tuesday, urging for more comparable student assessment data worldwide and help getting girls through their schooling. "The world, in education, focused a lot on access, which is super important, and in most countries made huge progress on gender-equal access, but now there needs to be a focus on quality," Gates said in a press call on September 11. The majority of the Gates foundation's resources are dedicated to global health and d...
New window coating can lower energy bill in two ways

New window coating can lower energy bill in two ways

Science
July 3 (UPI) -- Material engineers in China have developed window coatings that both regulate temperature and generate electricity. Scientists have previously developed coatings with one of the two attributes, but the latest breakthrough marks the first time the abilities have been combined. Researchers had to find a balance between the technology's three components. The coating needed to allow light for illumination to pass through, while filtering out infrared wavelengths and converting some of the solar rays into electricity. By combining a variety of materials and compounds, scientists found a happy medium. Instead of outfitting the window coating with transparent solar cells, researchers developed semi-transparent photovoltaics. The technology allowed scientists to harvest energy fr...