Boston, MA, 02/20/2014 – Vodafone Group Plc (ADR) (NASDAQ:VOD) strikes back at the Indian government on Wednesday post $2 billion tax dispute talks fallout. Vodafone, the second largest mobile operator globally faced a tax dispute of $1.8 billion after it entered India in 2007 through acquisition of Hutchison there. Even after Vodafone got ruling in its favor from the Indian Supreme Court to not to pay the tax over the transaction, government tweaked the rules to allow it to claim retroactive tax, thereby, drawing criticism from the businesses. After which, the government agreed for the conciliation talks but disagreed with Vodafone Group Plc (ADR) (NASDAQ:VOD)’s demand to involve a separate tax dispute case as part of the talks, and decided to scrap the talks.
Hecla Mining Company (NYSE:HL) reported its fourth quarter results before Wednesday’s opening session. The metal explorer and marketer delivered a net loss in line with that of the estimates at $0.01 per share on net loss of $3.05 million, but missed the revenue target of $121.28 by recording revenue at $114.18 million. Hecla Mining Company (NYSE:HL) posted a surge in levels of both gold and silver reserves at its properties even after calculating the metal at the reduced prices of $20 per oz for silver and $1,300 per oz for gold.
Nokia Corporation (ADR) (NYSE:NOK) has come up with Treasure Tag device for its users who tend to forget valuables like, purse, bag and other stuff. Nokia said on Wednesday that the tags will come along with the app and will be compatible with Nokia Lumia phones. The Finnish company will also introduce third-party apps for Android and iOS device users. Users can use upto four separate tags at the same time connected with their Lumia by placing each tag as livetile on the screen. The users will be alerted if they forget their belongings inadvertently. Its app also features map to locate the lost item.