COLA DUO SIDESTEPPING IRAN SANCTIONS - The Irish Times reports that Coca-Cola and PepsiCo are using their Irish-based subsidiaries to ship products to Iran and skirt US trade sanctions with the state.
The paper says the two cola giants are shipping concentrate from their Irish operations to Iran, where it is then bottled for sale.
A loophole in the sanctions allows American companies to ship certain foodstuffs to Iran by using overseas subsidiaries.
The Irish Times says this means Coca-Cola and PepsiCo can sidestep the trade sanctions, while also benefiting from Ireland's 12.5% corporation tax rate.
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METEOR CHIEF TO RETURN TO US - The Irish Independent says Robert Haulbrook, the chief executive of Meteor, is set to step down from his position to allow him to return to the US.
The paper says it is understood Mr Haulbrook will leave Eircom, Meteor's parent, on good terms and will still retain his connections to the company.
Mr Haulbrook has been the CEO of Meteor since August 2004. Like his managing director, Larry Smith, Mr Haulbrook originally worked as an executive at Bellsouth, one of the companies formed from the demerged of AT&T in the US.
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BROWN TO NET ONLINE GAMING TAX? - The Daily Telegraph reports that British Chancellor Gordon Brown will announce plans in next month's Budget to encourage the beleaguered online gambling industry to be regulated and licensed by the British government.
The paper says the Treasury has long had its eye on the potential tax revenues that are generated by the likes of PartyPoker, 888, Ladbrokes and other gaming companies that are based in Gibraltar and other offshore centres.
From September the companies will be allowed for the first time to relocate to the UK and obtain a licence under the Gambling Act. However, all companies have said they would never relocate to the UK if they had to pay a tax on gross wins as high street casinos do.
But in what the Telegraph calls a surprise move, Brown will use the Budget to announce that in return for a small amount of tax - possibly as low as 2% or 3% - companies can obtain a UK licence and still remain based overseas.
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KREMLIN STEPS IN ON PLANES ORDER - The Independent reports that Boeing is poised to lose a $3.2 billion order from Russia's state-controlled Aeroflot, after the Kremlin intervened to demand that it buy 22 new planes from its European rival Airbus instead.
The paper says Aeroflot had already paid to reserve slots on the Boeing production line in Seattle, but the Russian government refused to ratify the order as relations with the US deteriorated.
The Independent says Russian President Vladimir Putin is also trying to increase his influence over Airbus, in which the Russian state has an indirect stake.
Aeroflot's plans to replenish its fleet with Boeing's new 787 Dreamliner appeared close to being signed last summer, representing a coup for the US company. But reports in Russia suggest that the Aeroflot board split, with managers keen to press ahead and the Kremlin representatives withholding their support.
