According to reports in the Wall Street Journal the dual probe comes after Adecco delayed the release of its full year earnings report due to ‘material weaknesses in the its internal controls’ at its North American Adecco Staffing division as well as possible problems in other countries.
The scandal at the £11.1bn business, which employs 28,000 people in 68 countries, has sent its share price tumbling and markets are braced themselves for further cuts to Adecco’s credit standing after agencies last night slashed its debt rating.
Moody’s and Standard & Poor’s have cut Adecco’s long-term debt ratings and warned further downgrades may be on the way. The group is now just one notch above junk status.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements