Britain-based proxy advisers Pensions & Investment Research Consultants (PIRC) sought more transparent tax and financial information from Microsoft Corp (NASDAQ: MSFT) and Cisco Systems, Inc (NASDAQ: CSCO), Reuters reports. The resolution urged Microsoft to disclose financial and tax information country-by-country outside the U.S. to help investors assess its fairness and identify any risks posed by tax reforms. It also sought a tax transparency report from Microsoft in line with the tax standar
(Reuters) -U.S. companies Cisco Systems and Nike plan to fully exit Russia, the two firms told Reuters on Thursday, as the pace of Western firms departing accelerated. Telecoms equipment maker Cisco will wind down its business in Russia and Belarus, the company said. Nike is making a full exit from Russia three months after suspending its operations there, the sportswear maker said.
(Reuters) -A U.S. appeals court on Thursday threw out a more than $2.75 billion award against Cisco Systems Inc, saying the trial judge should have disqualified himself after learning that his wife owned Cisco stock. The 3-0 decision by the U.S. Federal Circuit Court of Appeals was also a defeat for Centripetal Networks Inc, a Virginia company that had sued Cisco for damages and royalties for allegedly copying five cybersecurity patents. The trial judge, U.S. District Judge Henry Morgan in Norfolk, Virginia, found Cisco liable for patent infringement in October 2020, two months after learning that his wife owned 100 Cisco shares worth $4,688.