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Shell and Barclays ‘lose’ £2bn in US tax changes

Shell and Barclays ‘lose’ £2bn in US tax changes

  • Europe
  • Two of Britain’s largest companies have warned that they will have to take nearly £2 billion in combined charges after the US government pushed through a radical overhaul that slashed tax rates for companies doing business in America.
  • www.thetimes.co.uk
  • help@timesplus.co.uk
Barclays is facing a larger full-year loss than expected because it told investors that the tax changes would initially cost it about £1 billion. At the same time, Royal Dutch Shell said in a statement to the stock market that the tax cut would lead it to take a hit to its earnings of between $2 billion and $2.5 billion.

 

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