KPMG merges UK, Germany operations
London: KPMG, the global management consultancy firm, plans to merge its UK and German businesses to make its services more consistent and risk-free, according to a report in the Financial Times.

The merger of the two arms, which are currently separate legal entities, represents the most significant structural change in the accountancy profession since Enron's collapse precipitated the downfall of Anderson the FT said.

According to senior officials in KPMG the merger would facilitate a smoother, international service.

The move will also give KPMG staff in one country more influence over the work of their colleagues elsewhere.
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Starbucks plans global expansion
Seattle: Starbucks plans to open 40,000 stores around the world and said there was immense potential still existing in the US, where it plans to start offering hot breakfasts.

The world's largest coffee shop chain said it is attracting more Hispanics, women and less affluent consumers to its US stores and is focusing on China, India, Egypt, Brazil and Russia for international expansion.

The 40,000 stores are expected to be evenly split between the US and rest of the countries under focus.

Starbucks currently has more than 12,000 stores, including 8,800 in the US.
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China threaten retaliation against EU tariffs on shoe imports
Beijing: China has slammed the European Union's (EU) decision to impose anti-dumping tariffs on imports of Chinese leather shoes and has said it could take "corresponding measures," the Chinese Commerce Ministry said in a statement posted Friday on its website.

The EU decision to impose tariffs starting Saturday on leather shoes from China and Vietnam "lacks a legal basis and factual evidence" and fails to conform with EU and World Trade Organization anti-dumping rules, the statement quoted ministry spokesperson Chong Quan as saying Thursday.
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