Starbucks says no plan to freeze UK investment
January 28, 2013 4:21 AM EST
The world's biggest coffee chain Starbucks Corp
"Starbucks remains fully committed to opening 300 new stores and creating 5,000 new jobs by 2016," the company said in a statement on Sunday.
"We do not discuss the details of our Government meetings, but can say that we do not recognise how it has been reported."
The Sunday Telegraph said the Seattle-based coffee chain had demanded talks with British officials last week after Prime Minister David Cameron warned tax-avoiding firms to "wake up and smell the coffee" - seen as a reference to Starbucks.
Starbucks threatened to put on hold plans announced last year to invest 100 million pounds in new British branches, the paper said, citing unnamed sources close to the company.
Last year, Starbucks was caught up in a consumer backlash against legal techniques used by companies to cut their tax bills after Reuters revealed it had booked no profit and paid no tax in Britain for three years, despite telling investors its British arm was profitable.
The company has since bowed to public pressure and is expected to pay about 20 million pounds in British corporation tax over the next two years.
(Reporting by Myles Neligan; Editing by Alison Birrane)
Most Popular Slideshows
- Kate Middleton Suffocated in Kensington Palace, Queen Elizabeth Reported War With The Duchess [PHOTOS]
- Brad Pitt Still in Love with Ex-Wife Jennifer Aniston, Staying with Angelina Jolie for Sake of Kids, Claims Brad's Psychic
- British Style Icon Kate Middleton Fashion Talk With Camilla Parker-Bowles Daughter-In-Law [PHOTOS]
- Transfer News: Manchester United's Possible Transfer Options For This Season
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- James Foley Beheading Video Has Play-Acting Portions – Video Experts Say
- Apple iPhone 6 Release Date, iPhone 6C or 6L Anticipation: Three Things Should Matter To New Phone Shoppers
- Upcoming Sony Xperia Z3 With Dual-SIM Support Gets Approved In China; Full Specifications Revealed; Amber-Coloured Xperia Z3 Tipped
- More Nexus 8/Nexus 9 Release Confirmed with More Leaks and Out of Stock Nexus 7 and 10
- James Foley: Release of Beheading Video by ISIS Meant to Attract More Recruits to Join the Cause – Intelligence
- 2015 Ford Mustang: Right-Hand Drive Pony Car To Be Available In Australia Next Year
- Google Works on Powering Up Chromebook Line to Kill Competitors, Nvidia Joins with Acer for New Killer Laptop