Majority Back Clinton for Presidential Bid in 2016


ap hillary clinton jp 121204 wblog Hillary Clinton Wins High Popularity, Majority Support for a 2016 Bid

Kevin Lamarque/AP Photo


Carried by a new high in personal popularity and broad approval of her work as secretary of state, Hillary Clinton closes out her diplomatic career with majority support as a candidate for president in 2016.


Fifty-seven percent in the latest ABC News/Washington Post poll say they’d back a run by Clinton to succeed Barack Obama, vs. 37 percent opposed. That includes a broad gender gap – 66 percent support for Clinton among women, dropping to 49 percent among men.


See PDF with full results, charts and tables here.


Clinton is expected to step down soon from her leadership of the State Department, a position she accepted after narrowly losing the Democratic presidential nomination to Obama in 2008. She’s demurred on the prospect of another bid for the presidency.


Clinton’s fared well during her tenure at State; 68 percent approve of her work, second only to Colin Powell among the last five secretaries of state. (He managed a remarkable 85 percent approval in 2002 and 2003.) Similarly, two-thirds in this poll, produced for ABC by Langer Research Associates, see Clinton favorably overall, numerically a new high in her long public career as first lady, U.S. Senator, presidential candidate and top U.S. diplomat.


Clinton’s recovered from personal favorability as low as 44 percent in April 2008, during her presidential run; she also dropped that low in June 2003, when she was discussed as a possible candidate in the 2004 presidential race, and in June 1996, during the Whitewater controversy. Those dips underscore the potential risks should she climb back into the political fray.


In another sign of the challenges of a political candidacy, intensity of sentiment is better for Clinton personally, and as secretary of state, than it is for her as a candidate. Her “strongly” favorable rating and strong approval of her job performance outnumber her strong negatives, in both cases, by more than 2-1 margins. Strong support for her as a candidate also outweighs strong opposition, but much more narrowly, by 9 percentage points, 36 to 27 percent.


2016 and GROUPS – Politics are comparative, so actual support for Clinton as a candidate would depend more than anything on her opponents, in the Democratic primaries and general election alike. That said, having 57 percent willing to give you a look (55 percent among registered voters) is not a bad starting point – and the differences among groups are telling.


In addition to the gender gap there are sharp differences between age and racial groups, generally similar to Obama’s support patterns. Young adults, age 18 to 29, support Clinton for president by nearly 2-1; that falls to an even split among seniors. And while she gets 52 percent support among whites, that jumps to 70 percent among nonwhites, a strongly Democratic group.


Clinton does less well among nonwhites than did Obama, who won re-election with 80 percent of their support last month. That said, while majorities of white men and married men say they’d oppose a Clinton candidacy, she’s backed by more than six in 10 white women and married women – two groups that Obama lost.


Among other groups, support for Clinton in 2016 tops out at eight in 10 Democrats and liberals, vs. 23 and 24 percent of Republicans and strong conservatives, respectively. About two-thirds of moderates and six in 10 independents say they’d support a Clinton candidacy.


It’s hard to see Clinton winning 23 percent of Republicans in an actual campaign; no Democrat has come close to that mark in exit polls dating back 36 years. That’s another sign that, while currently her numbers are positive, actually running for president can be messier than it looks from a popular perch at Foggy Bottom.


METHODOLOGY – This ABC News/Washington Post poll was conducted by landline and cell phone Nov. 28-Dec. 2, 2012, among a random national sample of 1,020 adults. Results have a margin of sampling error of 4 points. The survey was produced for ABC News by Langer Research Associates of New York, N.Y., with sampling, data collection and tabulation by SSRS/Social Science Research Solutions of Media, Pa.

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Asian hedge fund industry faces challenges ahead






SINGAPORE: Hedge fund managers said industry consolidation and increased regulatory oversight with accompanying costs are the top two challenges facing the industry in the next one to two years.

This is according to a pool of 100 hedge fund managers interviewed by accounting firm, Ernst and Young.

Many also pointed to a downward pressure on fees, resulting in a drop in revenues.

Hedge funds are investment funds that generally only open to institutions and sophisticated investors specified by regulators and use advanced investment strategies such as leveraged, long, short and derivative positions.

According to Eurekahedge, an investment funds research house, specialising in hedge fund databases, Asian hedge funds may be delivering an annualised returns of 9 percent since 2008, but things are not looking all that rosy for the industry.

More than 70 hedge funds in Asia have shut down this year, with more expected to close shop next year.

Eurekahedge's head of Analysis and Research, Farhan Mumtaz, said: "Returns are performance-based, so if they are performing well, it does not necessarily mean they would be making a lot of cash for themselves especially if they have a smaller asset base.

"Since 2008, a number of hedge funds remain below their high water mark."

The slowdown in the US and the sovereign debt situation in Europe have made matters worse for hedge funds in Asia as asset flows dried up because of risk aversion.

This year, Asia's hedge funds are estimated to have managed some US$126 billion -- a drop of almost 30 percent from 2007.

But the number of hedge funds operating in Asia remain almost unchanged, standing at 1,319 for the three quarters of 2012, compared to 1,317 for the whole of 2011.

Mr Mumtaz said: "It is a fluid situation, there will obviously new start-ups. We expect that trend to continue for one reason, banks themselves are not doing too well -- their trading operations are at risk of closing. So, when that's closed, to pre-empt that, traders might start their own hedge funds."

However, industry tracker, Eurekahedge expects the asset size of Asian hedge funds to grow 7 percent next year to US$135 billion as risk appetite recovers.

Ernst and Young's partner for Assurance and Financial services, Brian Thung, said: "Investment performance is a very key criteria for the investors.

"However, the investors also need to understand or they want to understand how would the managers be having an operational model that would allow them to create this kind of returns that investors crave for."

According to Ernst and Young, hedge funds continue to face a squeeze on margins, particularly on fees and often in return for large mandates and lock-up periods.

- CNA/lp



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We source all our ingredients locally: McDonald's India

NEW DELHI: Fast food chain McDonald's today disputed the remark of Leader of the Opposition Sushma Swaraj in Parliament that it does not buy local produce, saying all the ingredients used in its products in India are sourced from within the country.

"Before setting up its business in India, McDonald's had made a commitment to government on local sourcing of its entire raw material requirement.

"We confidently and proudly state that ingredients used in our products are sourced locally that includes the French Fries," McDonald's India (North and East) managing director Vikram Bakshi said in a statement.

He was reacting to Swaraj's remark in Parliament during the debate on FDI in retail today that even McDonald's was importing potatoes from abroad and not buying the produce locally.

"We import only on rare occasions when local supplies run out," Bakshi said, adding that "McDonald's remains steadfast to its commitment of working with local suppliers and farmers to source all its requirements in India".

The company, along with its supplier McCain, has worked closely with farmers in India to produce process-grade potato varieties, he claimed.

"We continue to contribute in the growth of these farmers," Bakshi said, adding that when McDonald's began developing its business in India, potatoes with the right quality for 'French Fries' were not available.

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Mars Rover Detects Simple Organic Compounds


NASA's Mars rover Curiosity has detected several simple carbon-based organic compounds on Mars, but it remains unclear whether they were formed via Earthly contamination or whether they contain only elements indigenous to the planet.

Speaking at the American Geophysical Union annual meeting in San Francisco, Curiosity mission leaders also said that the compound perchlorate—identified previously in polar Mars—appeared to also be present in Gale Crater, the site of Curiosity's exploration.

The possible discovery of organics—or carbon-based compounds bonded to hydrogen, also called hydrocarbons—could have major implications for the mission's search for more complex organic material.

It would not necessarily mean that life exists now or ever existed on Mars, but it makes the possibility of Martian life—especially long ago when the planet was wetter and warmer—somewhat greater, since available carbon is considered to be so important to all known biology.

(See "Mars Curiosity Rover Finds Proof of Flowing Water—A First.")

The announcements came after several weeks of frenzied speculation about a "major discovery" by Curiosity on Mars. But project scientist John Grotzinger said that it remains too early to know whether Martian organics have been definitely discovered or if they're byproducts of contamination brought from Earth.

"When this data first came in, and then was confirmed in a second sample, we did have a hooting and hollering moment," he said.

"The enthusiasm we had was perhaps misunderstood. We're doing science at the pace of science, but news travels at a different speed."

Organics Detected Before on Mars

The organic compounds discovered—different combinations of carbon, hydrogen, and chlorine—are the same or similar to chlorinated organics detected in the mid-1970s by the Viking landers.

(Related: "Life on Mars Found by NASA's Viking Mission?")

At the time, the substances were written off as contamination brought from Earth, but now scientists know more about how the compounds could be formed on Mars. The big question remains whether the carbon found in the compounds is of Martian or Earthly origin.

Paul Mahaffy, the principal investigator of the instrument that may have found the simple organics—the Sample Analysis at Mars (SAM)—said that while the findings were not "definitive," they were significant and would require a great deal of further study.

Mahaffy also said the discovery came as a surprise, since the soil sample involved was hardly a prime target in the organics search. In fact, the soil was scooped primarily to clean out the rover's mobile laboratory and soil-delivery systems.

Called Rocknest, the site is a collection of rocks with rippled sand around them—an environment not considered particularly promising for discovery. The Curiosity team has always thought it had a much better chance of finding the organics in clays and sulfate minerals known to be present at the base of Mount Sharp, located in the Gale Crater, where the rover will head early next year.

(See the Mars rover Curiosity's first color pictures.)

The rover has been at Rocknest for a month and has scooped sand and soil five times. It was the first site where virtually all the instruments on Curiosity were used, Grotzinger said, and all of them proved to be working well.

They also worked well in unison—with one instrument giving the surprising signal that the minerals in the soil were not all crystalline, which led to the intensive examination of the non-crystalline portion to see if it contained any organics.

Rover Team "Very Confident"

The simple organics detected by SAM were in the chloromethane family, which contains compounds that are sometimes used to clean electronic equipment. Because it was plausible that Viking could have brought the compounds to Mars as contamination, that conclusion was broadly accepted.

But in 2010, Chris McKay of NASA's Ames Research Center and Rafael Navarro-Gonzalez of the National Autonomous University of Mexico published an influential paper describing how dichloromethane can be a byproduct of the heating of other organic material in the presence of the compound perchlorate.

They conducted the experiment because NASA's Phoenix mission had discovered large amounts of perchlorate in the northern polar soil of Mars, and it seems plausible that it would exist elsewhere on the planet.

"In terms of the SAM results, there are two important conclusions," said McKay, a scientist on the SAM team.

"The first is confirming the perchlorate story—that it's most likely there and seems to react at high temperatures with organic material to form the dichloromethane and other simple organics."

"The second is that we'll have to either find organics without perchlorates nearby, or find a way to get around that perchlorate wall that keeps us from identifying organics," he said.

Another SAM researcher, Danny Glavin of Goddard, said his team is "very confident" about the reported detection of the hydrocarbons, and that they were produced in the rover's ovens. He said it is clear that the chlorine in the compounds is from Mars, but less clear about the carbon.

"We will figure out what's going on here," he said. "We have the instruments and we have the people. And whatever the final conclusions, we will have learned important things about Mars that we can use in the months ahead."

Author of the National Geographic e-book Mars Landing 2012, Marc Kaufman has been a journalist for more than 35 years, including the past 12 as a science and space writer, foreign correspondent, and editor for the Washington Post. He is also author of First Contact: Scientific Breakthroughs in the Hunt for Life Beyond Earth, published in 2011, and has spoken extensively to crowds across the United States and abroad about astrobiology. He lives outside Washington, D.C., with his wife, Lynn Litterine.


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Insiders Reveal 2012 Election Secrets


ht obama romney meeting wy 121129 wblog New Revelations From Obama/Romney Campaign on Immigration, Facebook and That Eastwood Speech

Pete Souza/White House


The 2012 election cycle came full circle last week when representatives from the Obama and Romney campaigns, as well as top advisers to many of the GOP primary candidates and several influential outside groups, gathered at the Harvard Kennedy School of Government for a 2012 debrief — finally answering some of the lingering questions about the race.


On neutral ground in Cambridge, Mass., fierce rivals (think Romney campaign manager Matt Rhoades and strategist Stuart Stevens and Obama campaign manager Jim Messina and strategist David Axelrod) met for the first time since the election — and many for the first time ever.


The conference, organized by Harvard’s Institute of Politics, featured a who’s who of political bold-faced names from campaign 2012, including senior campaign aides like Romney political director Rich Beeson and pollster Neil Newhouse, Obama deputy campaign manager Stephanie Cutter and digital director Teddy Goff, Rick Santorum adviser John Brabender, former Rick Perry campaign operatives Rob Johnson and Dave Carney and even Mark Block, who ran Herman Cain’s short-lived but much-talked-about presidential bid.


Representatives from the outside groups that had so much influence — and spent so much money — on the election were also on hand, including Bill Burton, senior strategist for the pro-Obama super PAC, Priorities USA Action; Steven Law, head of the pro-Republican group American Crossroads; and Tim Phillips, president of the conservative Americans for Prosperity.


Dozens of campaign 2012 veterans and journalists were on hand for the sessions, which covered the GOP primary, the general election, campaign strategy, the debates, conventions and the emerging power of the super PACS.


Here are some of the highlights from the conference:


Romney’s Campaign Concedes Immigration Position in Primary Was a Mistake


Mitt Romney’s decision to take a hard-line stance on immigration during the GOP primary was considered a big reason for his paltry 27 percent showing among Latino voters. But, the conventional wisdom has suggested that Romney couldn’t have won the primary without drawing a strong contrast with Texas Gov. Rick Perry on this hot-button issue.


Romney campaign manager Matt Rhodes, however, says that his candidate could have won the primary without attacking Perry’s support for in-state tuition for illegal immigrants.  When asked by panel moderator Jonathan Martin of Politico whether he “regret[s] trying to outflank Perry on the right on immigration,” Rhoades took a long pause, and then shifted the conversation to Perry’s controversial statements about Social Security. Romney had attacked the Texas governor for calling the popular entitlement program a “Ponzi scheme” and a “failure.”


“In retrospect,” Rhoades said. “I believe we probably could have just beaten Perry with the Social Security hit.”


So while Rhoades never said he wished that Romney had never uttered the words, “self-deportation” he essentially conceded that he regrets the immigration position the governor took in the primary.


The Obama Campaign Only Fully Committed to Florida in Mid-September


If there was one state that the Romney campaign felt confident they were going to win it was Florida. And, until mid-September, the Obama campaign wasn’t convinced that they were going to contest the state. That changed in the aftermath of the strong convention in Charlotte, however, and the Obama campaign decided that they were going to go “full out” to win there.


Obama campaign strategist David Axelrod:


“One of the things that we had discussed internally was the state of Florida and how we were going to treat Florida. We had made a decision that we were going to wait until mid September and after the conventions to see where we were in Florida before we fully committed. We were in, we had invested a lot, but we hadn’t been in the Miami media market. When we emerged from conventions not only had we gotten a little bump, but we saw Florida remained very competitive and made the decision to go full out in Florida.”


Team Romney Never Read Clint Eastwood Speech


Romney strategist and convention director Russ Schrieffer was asked by panel moderator Ron Brownstein of National Journal if anyone actually read a copy of Eastwood’s speech. The answer: not so much.


Russ Schrieffer: “I said [to Eastwood] are you going to do what we talked about, are you going to talk about what you talked about at these fundraisers. And he looked at me and said.. ‘Yep.’ ”


Laughter followed Schrieffer’s comments to which he replied:


“It’s Clint Eastwood, you argue with him.”


Republicans Are Worried (And Rightly So) About the Technology Gap With Democrats: 


Jon Huntsman’s campaign manager Matt David noted that “one area we should freak out about is technology. The GOP is far behind there.”


The Obama campaign used social media as a means to an end — using technology as a way to recruit, persuade, target and turn out voters.  Obama’s digital campaign guru Teddy Goff pointed to the power of Facebook in helping to find a previously unreachable group of potential voters: the friends of those who were already voting for the President.


In 2008, said Goff, they found that “99 percent of our email list voted.” As such, Goff said, “We entered into this election, with an understanding that anyone we were talking to directly, the vast majority were voting for us. So the question was … how can we serve them with stuff that will make them go out and get their friends.” And, Obama’s Facebook fans were a great place to start. Obama’s 33 million Facebook fans globally are friends with 98 percent of the U.S. Facebook population, Goff said.


Facebook also helped the campaign track down their coveted 18-to-29-year-old cohort. Goff explained that they were unable to reach half of their 18-to-29 GOTV targets by phone because they didn’t have a phone number for them. But, he said, they could reach 85 percent of that group via a Friend of Barack Obama on Facebook. “We had an ability to reach those people who simply otherwise couldn’t be reached,” Goff said.


Was the Romney High Command Really and Truly Shocked on Election Night? 


Neil Newhouse, Romney pollster:


“Here’s what we saw in the data: you have to give credit to the Obama campaign for undercutting it. We saw in the last two weeks, an intensity advantage, a campaign interest advantage, an enthusiasm advantage for Republicans and Mitt Romney. … Just the same as we saw four years ago on behalf of Barack Obama. We thought it would tilt the partisan make-up of the electorate a couple points in our direction.


“We weren’t surprised by racial composition; we were surprised by the partisan composition. … The real hidden story here on our side, the number of white men who didn’t vote in this election compared to four years ago was extraordinary. And these white men were replaced by white women. We were taking a group we won by 27 points and replacing them with a group we won by 12-14 points.”


Perry Should Have Waited Until Late Fall, Not Summer, to Jump In:


Perry strategist Dave Carney said the biggest tactical mistake made by Perry was that “we should have started years ago.” Perry, as governor in a state with a part-time legislature, “had a lot of time on his hands” — he should have used that time, and his role as RGA chair, to meet donors and travel the country before 2011. Once Perry decided to get in, however, Carney argues the Perry should have waited until mid-October or November to get into the race. That extra few months, said Carney, “would have given us more time to be prepared and do the groundwork that was necessary on the issues.”


What Role Did Karl Rove Play With Republican Outside Groups Like American Crossroads, Which He Co-founded?


Steven Law, president and CEO of American Crossroads and president CrossroadsGPS:


“Karl … recognized it was really important to not simply have an organization exist in a particular cycle for a tactical use but to … start to build enduring institutional strength on the right the way that we saw the unions providing that for the Democrats. … And then there were certain other parts that I think Karl really gets credit for. The first is encouraging us to reach out to other center-right groups and to try to start to collaborate where we were legally permitted to do so to share information and encourage people to pull the oars in the same direction. On the fundraising side both he and Ed [Gillespie] and then later on Haley Barbour were all tremendously instrumental in harvesting their Rolodexes and relationships. Karl is a guy that’s got tremendously good ideas, and again, not so much on the tactical side but more kind of broad strategic moments and was a tremendously useful and valuable source of ideas along the way.”


Bill Burton, senior adviser, Priorities USA Action:


“He also helped us raise money. I probably e-mailed out every one of his columns to our donors — our high-dollar list — to point out what they were saying on the Republican side and how confident Rove was. … When he would go on TV bursting with confidence about Romney winning, that little click went around every single time. Karl Rove is an enduring figure for both sides.”


After Rove’s Appearance on Fox News on Election Night, Is He Discredited Within the Republican Party?


Steven Law:


“Absolutely not. We all get our turn in the barrel.”

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Netball: Singapore pick up second victory in Nations Cup






SINGAPORE: Singapore picked up its second victory at the Netball Nations Cup on Monday.

The hosts defeated the Republic of Ireland 54-34 at the Toa Payoh Sports Hall.

Singapore narrowly beat Malaysia 44-42 on Sunday.

But it was an easier task against the Republic of Ireland, the lowest ranked team in the six-nation tournament.

The Singapore girls took control early and led all the way.

The hosts even used the game to try out new player combinations.

Ireland tried but succumbed, suffering their second defeat in as many games.

In their next match, Singapore will meet a tougher Namibia as the Africans are looking good and determined.

In an earlier match on Monday, Namibia put up a strong fight against higher-ranked Sri Lanka before losing 65-69.

In another match, Malaysia suffered their second defeat in a row, losing to Tanzania 36-61.

- CNA/de



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Cauvery water issue: Tamil Nadu says centre soft on Karnataka

NEW DELHI: Since Karnataka is heading for assembly elections in 2013, the central government may not be pushing it hard to release Cauvery water for Tamil Nadu, the Supreme Court was told by a counsel on Monday.

"Karnataka elections are there. No direction will be given (to Karnataka to release water to Tamil Nadu)," Tamil Nadu's senior counsel CS Vaidyanathan told the apex court bench of Justice DK Jain and Justice Madan B Lokur.

The court is hearing a batch of petitions and application filed by Karnataka and Tamil Nadu on the release of 9,000 cusecs of water daily from Cauvery for the latter.

The Cauvery River Authority (CRA) headed by the prime minister in an interim award Sep 19 directed Karnataka to release for Tamil Nadu 9,000 cusecs of Cauvery water every day.

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Photos: Kilauea Lava Reaches the Sea









































































































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Will Mortgage Deduction Survive Fiscal Cliff?













When politicians talk about closing tax loopholes, it seems like they're targeting greedy corporations. But they're also talking about Jaclyn Picarillo, 33, mom of two and American homeowner.


The home mortgage interest tax deduction is one of the biggest tax breaks available and it allows individuals to deduct the interest they pay to their mortgage company.


It has encouraged millions of Americans to become homeowners. But as lawmakers search for ways to control federal spending, reform the tax code and avoid the "fiscal cliff," there's a good chance they'll take a look at the mortgage deduction. It's worth more than $100 billion each year. All or part of that money could go a long way to finding the $1.6 trillion in additional tax revenue President Obama wants negotiators in Washington to agree to.


Picarillo, who lives with her husband, a three-year-old and a 15-month-old in Fairfield, Ct., a New York City suburb with both high housing costs and a high cost of living, bought her first home last year after previously renting. Picarillo and her husband decided to buy because they knew they were getting the tax break, and they used that money to renovate the home as well as make a down payment on a new car Picarillo needed.








Are Republicans Willing to Bend on No New Tax Pledge? Watch Video











'Fiscal Cliff' Negotiations: Ball Is in the GOP's Court Watch Video





The mortgage deduction has been fiercely guarded until now, although it costs the government over $100 billion a year by most estimates, because of the sentimental attachment to it and the idea that it helps middle class families afford homes. While those who benefit from the deduction, including homeowners and people in the real estate industry, are passionate about keeping the deduction in place, others say it should be eliminated because it overwhelmingly helps the wealthy and those who can afford to buy a home already.


"By getting rid of the [home mortgage interest tax deduction], I'm more likely to hold on to my car longer and less likely to hire a builder to improve the house," Picarillo said. "Why would you become a homeowner without it? There are so many worries with owning a home, many people might think it's easier to rent."


If Picarillo sounds savvy about the deduction, it's because she is. She is also in the real estate industry, working with her mother to sell homes in Fairfield County, which includes Westport, Ct., where some of the country's most expensive homes are located.


She says that many of her customers are "on the fence" about buying in a market that has been struggling the last few years.


Picarillo describes her family as "definitely middle class" and says without the deduction she will have to "work a lot harder" to maintain the lifestyle she currently has.


The deduction, which has been around in some form or another since 1913, overwhelmingly helps people in areas like the Northeast and metro areas with high home prices. Edward Kleinbard, the former chief of staff to the U.S. Congress's Joint Committee on Taxation, says it should be up for elimination or reduction because it just doesn't help the majority of Americans.


"The bottom 80 percent of America, which includes the middle class, is only getting 20 percent of the tax benefit," Kleinbard, who is also a professor at the University of Southern California Gould School of Law, explained. "That's a very top-weighted distribution and it doesn't apply to the middle class because by definition the middle class is the 50 percent."






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Starbucks to review British tax arrangements






LONDON: Global coffee giant Starbucks said Sunday it was reviewing its tax affairs in Britain after it took a roasting from lawmakers and campaigners who accuse the chain of paying too little.

The Seattle-based firm admitted that "we need to do more" although it would not confirm a report in Britain's Sunday Times newspaper that it will promise this week to increase the amount of corporation tax it pays.

"We have listened to feedback from our customers and employees, and understand that to maintain and further build public trust we need to do more," Starbucks said in a statement.

"As part of this we are looking at our tax approach in the UK. The company has been in discussions with HMRC (Her Majesty's Revenue and Customs) for some time and is also in talks with the Treasury (finance ministry).

"We will release more details later in the week."

Starbucks had previously confirmed that it did not pay any corporation taxes in Britain for the past three years on sales worth £400 million ($640 million, 493 million euros).

It was able to do so by paying fees to other areas of its business -- such as "royalty payments" for the use of the brand -- which resulted in the company posting a series of losses and not having to pay any corporation tax.

The Sunday Times said that since coming to Britain in 1998 the chain has paid just £8.6 million in corporation tax despite generating £3 billion in revenue.

The spokesman added: "Starbucks is committed to the UK for the long term and we have invested more than £200 million in our UK business over the past 12 years.

"Starbucks has complied with all the tax laws in this country but has regretfully not been as profitable as we would have liked."

The Public Accounts Committee -- a panel of British lawmakers -- is due to release a report this week which is expected to criticise the measures used by corporations to avoid paying tax as the rest of the country grapples with tough austerity measures.

The committee quizzed senior figures from Starbucks, US online retailer Amazon and Internet search giant Google.

During the hearing Margaret Hodge, a Labour party lawmaker who chairs the committee, said Starbucks' claim that its British division was unprofitable "just doesn't ring true".

Starbucks has faced calls by activist groups for a consumer boycott in recent weeks.

- AFP/ck



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