companies like ireland. the city of dublin and the regions of ireland. we offer a u.s. -- the far right and the far left would be saying hat. apple pays taxes to the ull. it pays taxes on what they produce. everyone has an iphone. that is designed for silicon alley. they would be a tax collector. another reason being that the finding dates back as far as 1991. i don't believe it is in the best interest of business or in he best interest of law to allow for retrospection. ireland works with international bodies in order to ensure that we have a tax regime that is fair and equitable. and the corporations pay their fair share of taxes. in ireland, we have appealed this decision and we look forward to winning the judgment. jake: if you don't, are you afraid that other companies will pullout? charles: we are proud of what we can offer and we are confident in that regard. jake: ireland is a proud member of the european union. is this not precisely the kind of thing -- is that what frustrates so many people in the european union and ultimately may have played a

ireland is a small state. we have agreed to accept 4,000 and i don't accept that this is an issue that will be resolved in an early opportunity. we will have the 4,000 relocated, recessed to be welcomed in our community right across the island of ireland in terms of our villages, our people have responded very positively. and we will insure that we play our part in what is the greatest humanitarian challenge of our time. >> charlie flanaga, thank you so much, we appreciate it. >> thank you, very pleased to be here. >> thank you. we conclude this evening with evan osnos a staff writer for "the new yorker." his article this week imagines what donald trump's first term as president might look like. evan, good to you have here, thanks for being here. >> thanks. so first of all, i need to offer you something of an apology. not that i ever did anything about it but when i first read, you wrote a piece last fall. >> last summer. >> last summer about all of the white supremacists, white nationalists, neo nazis, et cet

ireland has developed favorable tax laws. you also have a big contingent of life science pharmaceutical companies in significant operations in ireland because it is a good place to be. there are favorable tax laws and also favorable treatment in how the taxation system treats these transfer pricing agreements. this is a little bit of a warning shot from the european commission and may cause some companies to take a look at whether they negotiated maybe too sweet a deal with ireland and at corporate structures and how the overall multi national setup is working for them. >> the truth is, i've located in ireland. many companies have done that in belgium and ireland. it's just that apple has been smacked. >> exactly right. they went in the early 1990's when they weren't making any money. steve jobs in pictures from the mid 1990's kept turning up there. that is the reality. it's just the legislation. it is a much wider debate about the global tax structure and whether it's acceptable. which it isn't. it is ridiculous. american co

in this case, ireland. its corporate tax rate is the lowest in western europe and it is attracting more than 700 u.s. companies to set up shop, including google and facebook. apple employs 6000 people in ireland. in this week's ruling, the eu commissioner said that ireland glad to pay an effective tax .5%,that was down to which gave apple and unfair vantage. here she is in an interview with bloomberg tuesday. >> the tax rate in ireland is for .5% in most companies -- 12.5%, and most companies, they pay corporate tax rate in ireland. they have to look at some companies, in this case, apple, only pay a tiny tiny fraction of , the tax that they pay. that is not fair competition. it is not a level playing field. we also spoke to the irish finance minister and we will bring you his comments in a moment. just listen to litigation specialist matt larson and alex webb on apple's response. apple's defense is they have been an island for a long time. this agreement has been in place since 1991. it was always legal. t

i've located s, in ireland. many companies have done that in belgium and ireland. it's just that apple has been smacked. >> exactly right. they went in the early 1990's when they weren't making any money. steve jobs in pictures from the mid 1990's kept turning up there. that is the reality. it's just the legislation. it is a much wider debate about the global tax structure and whether it's acceptable. which it isn't. it is ridiculous. american companies in ireland, all over the place. not just american. everyone is doing it. >> is this to the united kingdom's benefit? did the united kingdom with brexit become the new ireland? >> they certainly seemed in a good position to do that. if they're out of the eu and out of the reach of the european commission and its tax regulators they can certainly say come on, guys. we're a much nicer place to be. e welcome your investment. we welcome the jobs. it looks like the e.u. is pushing back against that. >> your job is to talk to them and encourage them. give me a sense of the scale of how big a shock wave this is causing. >>

apple employs 6000 people in ireland. pay ad allowed apple to tax on it european profit then 2013 --2003. that gave apple and unfair to manage. here she is in an interview with bloomberg tuesday. >> the tax rate in ireland is for .5% in most companies -- 12.5%, and most companies, they pay corporate tax rate in ireland. they have to look at some ies penne tiny fraction of the tax that they pay. that is not fair competition. it is not a level playing field. >> we also spoke to the irish finance minister and we will bring you his comments in a moment. take a listen to matt larson and alex webb on apple." 's response. apple defense -- apple's defense, this agreement has been put into place since 1991 and it was all legal. the agreement was above board. >> we got a letter from tim cook. they included the original picture of steve jobs at the ireland factory. >> he opened a 60% plant in court. -- cork. one of --what are the next steps for apple and a legal battle? >> apple and ireland will appeal this decision to the european

in this case, ireland. its corporate tax rate is the lowest in western europe and it has attracted more than 700 u.s. companies to set up shop there, including google and facebook. apple employs 6000 people in ireland. in this week's ruling, the eu commissioner said that ireland allowed apple to pay an effective tax rate of 1% on its profits in 2003, down to .005% in 2014, and that, she said, gave apple an unfair vantage. here she is in an interview with bloomberg tuesday. >> the tax rate in ireland is 12.5% and, obviously, most companies, national or multinational, they pay the corporate tax rate in ireland. and they have to look at some apple, onlyn case pay a tiny, tiny fraction of the taxes than they themselves have to pay, and that is obviously not fair competition. it is not a level playing field. emily: we also spoke to the irish finance minister and we will bring you his comments in a moment. first, take a listen to our conversation with "bloomberg intelligence" litigation specialist matt larson and

. >> there have been bombings, shootings, and strikes in northern ireland. guerrillas fired at an israeli school bus near the lebanese border. >> the 1970s saw the development of the terrorist repertoire. >> gangs of young people, products of the riotous 1960s, prefer terror, kidnapping, bombing, arson, machine guns, death and destruction. >> it was a global thing. in the '70s, those who wanted change faster than was going to come resorted to violence. >> japan has had its first plane hijacking. >> the chronicle of terrorism which took them as far as athens, greece. >> most americans thought of terrorism as a problem that happens a world or half a world away. throughout the 1970s, terrorism began to hit home. >> an elegant townhouse in new york's greenwich village was destroyed by a series of dynamite explosions. >> authorities first assumed an accidental detonation in a gas line had been responsible, except that the blast had been too powerful, destroying the $100,000 house and badly damaging the two neighboring homes, one belonging to actor dustin hoffman.

in this case, ireland. its corporate tax rate is the lowest in western europe and it has attracted more than 700 u.s. companies to set up shop, including google and facebook. apple employs 6000 people in ireland. in this week's ruling, the eu competition commissioner said that ireland glad to pay an -- allowed apple to pay an effective tax rate of less than down 2.005% in 2014, which gave apple and unfair advantage. here she is in an interview with bloomberg tuesday. >> the tax rate in ireland is 12.5%. obviously, most companies, national --nash onlynal or multinational, pay a tiny, tiny fraction of that they themselves have to pay. that is obviously not fair competition. it is not a level playing field emily: we also spoke to the irish finance minister and we will bring you his comments in a moment. but first take a listen to our bloomberg litigation analyst matt larson and alex webb on apple's response. >> a lot of people were surprised about the scale. of the back payment they will have to come up with.

bank governor of ireland . a central seen as location for many firms looking to shift from the u.k. following the brexit vote and when they trigger article 50. do you agree with that thesis? philip: it is always that we have the same line which, same time zone, already in the international financial sector. many firms are already familiar with doing business out of ireland. we do see this in terms of banks holding discussions in dublin about the future. there has to be some level of relocation, depending on how the negotiations go. it is way too early to tell. i don't think they are in decision-making mode yet. they are essentially doing research. such and such from the types of reforms and renegotiations to happen. time inmoment in december 2016 it is way too early to know for sure how important these moves might be. tracy: in terms of research from have you received inquiries from companies looking to make a move to dublin? bank,: with the central we are the regulator of investment firms, of banks, and a cert

so i think all of those things will play in ireland's favor. kate: dublin has been firmly in the international spotlight because of the european commission rulings about apple's tax arrangements in ireland ordered to pay 13 billion in back taxes. surely that ruling will discourage companies considering operating there? >> no, i don't believe so. we have no evidence of that. we've seen significant investment even in recent weeks post the commission decision. ireland fundamentally disagrees with the commission decision in relation to the apple ruling and we believe the decision is flawed. ireland has decided to appeal that decision now to the european courts. apple has also indicated that it will appeal this decision and we've a long way to run on this. we've had a three-year investigatory process and now we're going to have potentially the same length of time in a judicial process so it's back in a process yet again. kate: reports suggest that opec has reached a surprise deal to cap oil output in an effort to reverse a two-year slump in oil pric

ireland. -- as it relates to ireland. we are one of the first countries in the world to introduce country by country reporting. we have made changes to our taxes them over the years to reflect an evolving economy. what we cannot have is retroactive changes to the tax rolls. what the legislation says to be applied -- they expect the legislation to be applied. we have a set of circumstances that could not happen today. rules had changed. we intrude country by country reporting. for participant in the profit shifting initiative -- full participant in the profit shifting initiative. ireland's finance ministry has made the point that taxes are a fundamental matter of sovereignty. do you think when we talk about other countries, should other eu countries follow ireland's lead and perhaps cut their own corporate tax rate? martin: that is a matter for those other countries. we've had a transparent, consistent and competitive taxation regime and we are unapologetic about that. sincee the same tax rate 2003. we plan to maintain it.

he said look ireland is being penalized. here as a small country. this is a huge overreach by brussels and i said to him could this kind of behavior lead ireland down the same path as the u.k.? is it possible? he was addiment. he said absolutely not. no way. he said but this kind of treatment doesn't help. guys, back to you. >> really moves the ball forward julia. we appreciate that. how would you handle this sort of global tax dispute? >> that's a complicated question. i would say i'm in complete agreement with the government of ireland. i think they have been doing a great job reaching out to companies to get them to deliver jobs into dublin and throughout ireland and to larly in the aftermath of brexit for the eu to come in with such a seemingly shocking number of back taxes on apple, that just strikes me as, you know, not the way that the eu should be working with folks like ireland that are doing a great job of attracting all the multinationals. >> i wonder to what degree you think this flap with apple in ireland versus the eu is unique because

. >> i'm kathy ireland, ceo of kathy ireland worldwide. nothing is impossible. if you can dream it, you can do it. her big dreams helped launch a global empire worth over $2 billion. >> kathy ireland for window world. >> kathy ireland weddings. >> kathy ireland home collection. >> her "sports illustrated" cover in 1989 is still the best selling issue of all time. but she was a business woman long before she was ceo of her own company. at 8, she became the first paper girl in santa barbara, california. >> my first day on the job i had a gentleman who was standing at the end of his driveway. he began yelling at me, what are you doing here? this is a boy's job. >>> we have breaking news at the hour. we'll talk to president obama making comments in china about climate change. >> central to that effort. over the past few years, our joint leadership on climate has been one of the most significant drivers of global action. in 2014, president shi and i-- president xi and i stood together. we started an intense diplomatic effort to put other countries on the same course.

gillette. >>> there was more violence in northern ireland today. the worst outbreak of street fighting to hit belfast in several months. >> the battle has been transformed. instead of acting as referee between warring communities, the army is now fighting britain's first urban guerilla war. the enemy is the outlawed irish republican army. >> the provisional i.r.a., the i.r.a. of the 1970s, used violence that many of us would consider to be terroristic. and they used that violence to put pressure on the british and bring about an independent southern country free from british rule. >> this was a sunday the people of northern island will not forget. it all started when catholics organized a demonstration to protest the continued internment of suspected terrorists. the demonstration, as all demonstrations, was banned by the government. >> it was intended to be a protest which was not about using violence, but when some of the marchers stopped and threw stones at the soldier, it led to a dramatic and awful overreaction. >> at least 13 people, civilians

up next, will ireland be a big winner for brexit? we are live in dublin, speaking to the deputy head of the irish bank. that conversation is coming up. brexit dominating what is happening with the irish economy. a quick look at the markets; the energy sector is flying. this is bloomberg. ♪ hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. guy: welcome back. is brexit an opportunity or a threat for ireland? we will be speaking to the governor of the iron central-bank who have already begun exploring moving from london to the irish capital. we spoke yesterday at the summit ceo ofe richard, t

. >> apple is watching what's happening in ireland after the european union ruled that ireland granted apple undue tax benefits. the parliament of ireland appealing the decision. the outcome of the appeal is expected sometime tonight. .ulia chatterly reports from >> reporter: an important vote, but also, just a symbolic one from the irish parliament tonight. voting on whether or not to back the government in their decision to appeal the european commission's decision to hit apple with that $14.5 billion tax bill. what the government has been saying all along is this appeal will succeed. why? because we never gave apple any kind of sweetheart deal or preferential treatment which is fine. but there's a bigger question here. what does this mean for other big tech companies here in ireland, the likes of microsoft, facebook? could they get the same deal as apple and is there a huge risk now that these companies get hit with the similar kind of tax bill as apple at some point in the future? that's the question i put to the irish prime minister. listen to what he had to say. >> the other case

ireland -- that .as jay ireland we want to get to julie hyman. julie: the financial times is reporting that apple has approached mclaren technology, owning a formula one team. this is the clearest sign yet that apple is in talks to transform the auto industry. shares of apple had been lower, , down justthis story a very very marginally. now according to the financial times, mclaren is likely to be valued at one billion pounds-1.5 billion pounds, all people familiar with the talk. it is not clear if they talk or deal could get done but if it did it would make it apple's biggest acquisition since the $3 billion by in 2014. so an interesting story here. we are not seeing much other ripple in auto stocks. coming up, controversy off the field for the football club, ac malan. who negotiated a deal to buy the club may have used false financial documents. this is bloomberg. ♪ you are watching bloomberg, i am mark barton. this is a global business report. how strong is the current climate for advertising? -- take on whether the the ad industry can do be

while ireland government appeals tax decision. speak exclusively later on cnbc. >>> heavily overpaid. a top bayer shareholders rejected bid from monsanto saying the german chemical firm would not get support for 135 share price tag. >>> good morning and welcome back to "street signs." let's bring you some breaking news out of volkswagen. they have announced the deal with jac a chinese joint venture department. for developing electric cars in china. told you about speculation of this deal at the start of the show. now getting an announcement from vo volkswagen. started talks and goal is for joint development of electric vehicles in china. hot market for electric cars. >> let's get to some macro economic data. in the form of uk july manufacturing output falli inin 0.9% month on month. biggest drop in a year. once again, negative 0.9 on the month. plus 0.8 on the year. manufacturing forecast at a decline of 0.3% so this is a much steeper decline and this really is at odds with some of the recent data points we've been getting which h

ireland has subscribed to all of them. america under president obama has been a league participant in the g20 driving the cap reform agenda forward. significant progress has been made. it is not for me to advise american presidents. if the american authorities continue to work with the oecd to find international solutions to international problems, that will be the best course forward. francine: do you think the fines the u.s. imposed on deutsche bank are in retaliation of the fines that europe imposed on apple? minister noonan: it is an interesting series of coincidences. i have no evidence that it was a kind of countermove to compensate for apple. this morning, there is a suggestion that wto is going to ask for 22 -- 22 billion from airbus. isnow people will say this the hostility between europe and america in tangible form. there is no evidence of that that i have seen. a look to be separate decisions made on the basis of the facts. francine: thank you so much. michael noonan, the irish and its minister. -- finance mini

apple, of course, disputes that, as well as ireland. so, i asked margaret vest jaiga about this argument. when you said at one point pay 0.0005%, a number that tim cook has called political crap. what is your view of that? >> well, i've never seen math categorized like that, because we are obliged, of course, to do our case work-based on the facts of the case, not only because it can be appealed and go to court, but also because we have to do a good job. we have to make sure that we get it right and do the right thing. >> but isn't the heart of the matter really, especially when it comes to apple and these technology companies, the intellectual property of their sales, of iphones and other products, happens all in the united states. it is produced in the united states. so, why should the irish government claim the income tax on it? >> well, this is for apple. because we don't question where they book their profits. what we see is that they book a huge portion of their profits in ireland, not in the states. with the apple inc. of the u.s

my parents were from ireland. we had an irish session almost every friday in my home. the people would congregate, they'd play tunes, they'd share new tunes or old tunes. it's a wonderful opportunity to meet with people, and people can sit down who have learned tunes from different sources. if it's the same tune, they can sit down and play it together. basically, it's an irish jam session. it's just everybody gets together and plays a common repertoire. it's very relaxing. there's no pressure. you keep going for as long as you feel like going. if you feel like stopping, you stop, and you know, people come and go, and if the atmosphere and the spirit is good, it can go on for hours and hours, days in some cases. (narrator) many musical traditions have rich histories of their own. in the 20th century, musicians have been drawn to european music from the middle ages and renaissance, a repertoire commonly referred to as early music. because this music hasn't been performed for centuries, playing it today involves rese

go to ireland. they never announced that he wouldn't be going, they just removed that trip from his itinerary. he did, however, take that same trip, just minus ireland. he did go to scotland. i would hesitate to call that a presidential candidate trip to scotland. technically he went for the -- i guess it was the ribbon-cutting on new renovations at one of his golf courses. and overall, it's just not like that trip had a real political flavor. >> inside the lighthouse right now is incredible suites, and it's called the halfway house, because this is the ninth tee, and it's called the halfway house. and on the bottom, you have dining and golfers will stop and they'll go and get something to eat, and then they go on to the tenth hole, tenth tee, right next door. >> he did make it to scotland, since he's been a presidential candidate, but it was not exactly a political blockbuster of a trip. i mean, he did touch foreign soil as a presidential candidate. after he tried to go to israel and that got cance

tech companies. >> it is a matter between ireland and the eu. it is not something i would comment on, but i would say this, any company in the world must fully comply with the law and the regulations of the country that they are operating in, and it is important to realize and recognize that the taxes are paid in a very fair way because they go a long way in contributing to the growth of the country. london deputy mayor in town from london. thank you so much for joining us. now to a story that is trending. twitter once its users to say more. unveiling a long-awaited change to its character limit. photos, videos," teats will no longer count for the standard limit. theirange comes as to encourages users to be more interactive with multimedia content. 2 millionre than people watched its first livestream nfl game. twitter being sued by a shareholder who claims it misled investors on key growth metrics, -- executivesn promising to boost monthly active users to 550 million in the, "intermediate-term," and more than 1 billion and the longer term. they

here is nbc's tom costello. >> reporter: on the ground in ireland, united flight 880 met by ambulance crews and medics tending to injured in the terminal. it was early in the morning when the bowing 767 ran into trouble over the atlantic. without warning, violent turbulence. >> a very huge drop in altitude, one right after the other. >> reporter: with at least a dozen people injured the pilots diverted to shannon, ireland. >> we just want to confirm the aircraft is norm and you're not landing heavy? >> at this time, there are no control problems. >> there are a number of people waiting for you. >> reporter: while on the ground they tweeted emergency landing in ireland, a few people had broken bones. others described the scene on board. >> it was like one of those "star trek" episodes, you go through a field of rocks in the space and banging against everything, actually banging against things. >> most of them that weren't buckled in, they hit the roof, the ceiling. there was one next to me that hit the floor and some injuries due to that. >> reporter: turbulence is not uncommon. in may

tweeted emergency landing in ireland, a few people had broken bones. others described the scene on board. >> it was like one of those "star trek" epi episodes, you go through a field of rocks in the space and banging against everything, actually banging against things. >> most of them that weren't buckled in, they hit the roof, the ceiling. there was one next to me that hit the floor and some injuries due to that. turbulence forced a flight to make an emergency landing in indonesia, 31 people injured, some seriously. clear air teachers usually occurs when the fast moving jet stream the planes often use as a tailwind suddenly collides with very slow moving air. >> the problem for pilots, you can't see turbulence on radar. it is a high altitude phenomenon, because there are no thunderstorms associated with it, radar won't pick it u.s., the faa reports last year, 21 people were injured in severe unexpected violent turbulence, why flight attendants and pilots remind all of us to always keep those seatbelts fastened. >> tom costello, thank you. >>> when we

they fear it could set a precedent to deter other companies from doning business in ireland. a group of lawmakers said they want time to consult with tax officials and experts before reaching a decision whether to challenge the verdict. >> the stock markets now -- wall street has been choppy, stocks trading around -- around the flat line. new figures showed a slowdown in manufacturing. the i.s. im -- index for august, weakest reading for the .s. since january. tech tech was virtually flat. the pound sterling jumped about 1% this thursday after manufacturing in the u.k. hit a 10-month high. it rebounded sharply from a slowdown in july mostly from currency fructwases. the brexit vote has boosted exports but also pushed up costs for tirms -- firms with international business. the international monetary fund has warned that the risk pose bid brexit is for from contained and could cause ripples across the global economy. mrks -- aid the i.f. i.m.f. would likely downgrade its forecast again. >> you could argue that brexit is not delivering the massive crisis we expected and that lo

what do you tell companies now looking to ireland? is there uncertainty at this point? >> is no uncertainty. our tax rate is exactly as they were before this decision. the european commission themselves have said that this does not call into question ireland's tax rate or tax regime, but having said that from our perspective, we want to put that beyond doubt and don't believe that the european commission should retrospectively try to interfere with the tax laws of an individual member state of the european union. >> where does the case stand at this point? >> at this point, apple said they're going to appeal this decision. ireland has said the government and the parliament have now said we will appeal this decision. so we're back into a process, which could take quite some time, expectation is it could take more than three years, and we will appeal this decision to the european courts. >> if the european courts overrule you, or let's say you end up being stuck with the eu's decision, would you consider leaving the eu? >> no, i don't believe so. we have a difficulty with

will they start looking at is the likes of microsoft, google here in ireland. more broadly, of course, this is one of the least euro skeptic countries in the eu. you've seen a real rally behind the government the idea that the eu is encroaching on individual nation powers. they've already given up independence on monetary policy. are they now being forced to give up independence on fiscal policy. far bigger questions for the eu not just on the basis of tax, but the power of brusselss and are they overreaching just the given beg beginning of the push back, i think. >> still to come on "world wide exchange," we'll head to asia. sara is touring taiwan with steph cur rirycurry. >> sara. >> reporter: it was a lot of fun to see steph curry greet his fans and play a little bachkt ball with them. sit a serious business for under armour. big bet on biggest global super star. talk about the company's implications coming from behind biggest competitor nike been there for decades. coming next on "world wide exchange." conversation with ceo, kevin plank. we'll be right back

if ireland allows apple to pay a lower tax, it could counter state aid which is illegal in the eu. apple says it paid more tax, the second-largest in ireland. >> the figures that we use in our decision are the figures that we get from apple themselves. and some of the figures back from 2011 come from the u.s. hearings. there are very little, if any figures in the public domain. and our investigation is not in the apple corporation. as such, it is apple international and apple europe. that is were the figures, in some years, .005% of tax rates are accurate. reporter: the commission says the ball is in apple's court. they must pay back taxes or appear in court. cracks that is all the business. back to you, brent. brent: the german chancellor met with women's football team from eight companies. they are in germany where they discovered football festival that aims to bring women together to celebrate their love of the sport. one team is from iran who have had to face more barriers than most to play the game. reporter: the arabian women's squad includes two current national players. it

this is about ireland, our people, versus us as a sovereign nation. what we consider appropriate policies to devise, to devise job opportunities and employment careers. this is not about the -- this is about the right of a small nation. >> the subsidiary they only about 50 euros. it has imposed a hefty back tax bill on the giant. same company took advantage of much too favorable conditions. apple is launching its appeal against the ruling. javier: closely watched american employment data came in off target on friday. the unemployment rate in the united states remains unchanged at 4.9%. u.s. stocks finished higher, and investors weighed the likelihood of a rate hike. most important factors will be considered in adjusting monetary policy. sticking closer look at the numbers with jens in new york. the latest data we have seen the past few months was better than expected. is there something to be worried about here? >> if you look at the numbers closely -- [no audio] under 5%, especially if you look at the eurozone, where we have a steady unemployment rat

it is a ruling that has divided opinion in ireland. the irish cabinet today try to explain why it is appealing a european commission decision to award its 13 billion in back taxes from apple. they say apple's low tax bill in the country constituted illegal state i aid. the government disagrees and is refuse to go collect. >> 30 billion euros would be difficult to turn down from moat countries. that is it exactly what the irish cabinet is doing. they are not following an order that apple pay back taxes in. >> nothing is being done wrong here. we have a matchless commitment to meeting the best international standards. >> the government rejects the implication that ireland is a tax haven, maintaining that they have the right to set a competitive corporate tax rate. it has one of the lowest rates in europe at 12.5%. mpared to 33% in spain and 20% in u.k. attracting that investment has become a cornerstone of the state economic policy. but not everyone agrees with the decision to appeal. opinion polls in ireland have shown majorities in fav

and aggressively or -- to direct, to tell ireland what it should do. the other story is the part of t the deals obtained by people of apple and others not only in ireland but luxembourg but the -- [ inaudible ] so that's -- there are quite numerous aspects of that. >> so it's the european commission overreaching? >> this argument could be formulated. but as i said, i'd be happy to answer these questions when i learn more about the merits of case. because a head-on collision. figures quoted by the european commission differ from what others are saying. it's a very provocative issue. >> julia joins us now around the desk here. julia, the drama continues. we're expecting ireland to vote on the issue to repeal it on wednesday. so what happens next? because the criticism from european policy makers keeps on coming. >> this is an interesting one when you're talking about a polish finance minister. they've also got an -- in their country. i think a lot of -- need to look at themselves and go, if we're opening pandora's box and retrospective -- be made accordi

. >> it's going to be like ireland. >> no it's not going to be like ireland. there's a higher tax base in ireland. >> leave it to the leprechaun. i'm irish, kaitlyn, charlie and julie. we've got the stocks that our guys say will work for you so you don't have to. come back in a minute. jackie: as an 18 year old, i let my mistakes kind of take over my life. i was point-five credits away from completing high school and i didn't do it. angela: i got pregnant and i was the main one working so, i did what i had to do to survive. jocelyn: sentía que la escuela no era para mí. karim: most of my family they never graduated high school or even let alone go to college so i'm trying to break that barrier. jackie: my family never stopped pushing for me to be better because they knew what i could become and who i could become as a person. karim: everyday after work i went straight to school, studied hard, and it paid off. jocelyn: sentía como que si quiero cambiar el mundo tengo que cambiara mi primero. group: surprise! surprise! surprise! angela: i could not have gotte

incredible inspiration to not only ireland but well beyond the shores of ireland as well including the united states of america. and with that, i yield back. . the speaker pro tempore: the gentleman from california is recognized. >> i have no additional speakers and reserve the balance of my time. the speaker pro tempore: the gentleman reserves. >> i yield back. the speaker pro tempore: the gentleman from california. the gentleman yields back the balance of his time. >> thank you, mr. speaker. in closing, i would just like tha mr. crowley for offering this important issue, it is important to irish heritage. mr. denham: certainly deserves recognition as a park right here in our local area of washington, d.c. with that, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the question is, will the house suspend the rules and pass the bill, h.r. 4564. those in favor say aye. those opposed, no. in the opinion of the chair, 2/3 of those voting having responded in the affirmative, the rules are suspended, the bill is passed and, wit

explain what apple and ireland are alleging. what kind of change in course to the european commission make? >> without going too deep, essentially the nature is such the complaint initially for the commission as it was laid out in the first decision, saying there were irregularities with apple's tax payments. they characterized it as one kind of irregularity. isspers behind the scenes there is a belief in the apple and ireland parties they changed the nature of the irregularity because they felt it would be easier to attack. that is the words my colleagues in europe are gleaning from people. i guess it is being played out in the courts. it is going to take years. one of the officials mentioned four years at one point. >> we have heard as much as six from some people. as anything in europe on a regulatory level, stuff moves slowly. it has been a number of years since the initial decision was made in 2014. the next thing will take weeks until the file an appeal to the decision. that is just for ireland to file an appeal. there is

and not ireland's tax rate in general. >> in ireland they have decided 12 at 5%. others say 20, 22. that is completely on their own. what they cannot do is give selective advantages to specific companies. and tilt the playing field makes it unfair competition. emily: joining us now is alex webb. why are they debating this again and what happens now russian mark she is presenting it to the world. she then goes in front of european parliamentarians and says it's going to be something for parliament to opposed to. >> what happens next? >> the appeals process which could be a couple of years. they both plan to appeal against the decision. that will decide how much will be paid to the tax authorities. emily: folks in ireland are saying it is fair to be looking at unfair practices but not there to retroactively be changing tax practices. >> this is the thing that has a lot of tax lawyers wary about the whole thing now. all of a sudden they are not high and dry. they are going back a decade. it is raising questions about the willingness to invest in the region. emily: th

ireland's finance minister tells bloomberg u.k. cannot have the advantages of the eu without carrying out the obligations. and tomrancine mentioned, big cuts on the way at commerzbank, germany's second-largest lender. it will eliminate 9600 jobs and suspend linens. -- a dividends. profits have been hurt by volatility markets and negative interest rates. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. francine, tom? tom: thank you so much. let's get to the data check quickly. pretty flat, flat, flat. oil moving around after that big bounce yesterday. we will have a beer blaster -- javier on in a bit. buoyant equities in the united states. there is brent in the the sanity. deutsche bank has really stabilized over the last 48 hours. francine: yes, it has. my data check, it stopped rallying in europe. 7%ually, they are getting pure there is a little concerned from the emerging markets. for example, the country of india, said it attacked tar