Chairman of the board! Facebook founder Mark Zuckerberg and wife Priscilla Chan celebrate first Christmas as married couple with surfing lessons in Hawaii Mr and Mrs Zuckerberg, who were married on May 19, holidaying in Maui | UPDATED: 20:27 GMT, 30 December 2012 He's built a billion-dollar fortune with Facebook but its not just web surfing that attracts Mark Zuckerberg. The social network founder, who is celebrating his first Christmas with wife Priscilla Chan after the couple tied the knot on May 19, laughed and joked during private surfing lessons on the island of Maui. Mrs Zuckerberg looked slim and relaxed in a sporty, red one-piece while her billionaire husband lugged his own surfboard and worked on his tan in a pair of board shorts.
Facebook accused of 'dodging tax' by using loophole to channel cash through Cayman Islands havenIt used Irish office to avoid UK tax liability on earnings from British businessLess than 240,000 was paid to the UK taxman Money was routed from Ireland into Cayman Islands subsidiary | UPDATED: 16:49 GMT, 23 December 2012 Facebook channelled profits through a series of tax havens in order to pay just 2.9m of corporation tax on more than 800m of overseas profits in 2011, it has been reported. Like Google and Apple the social networking site is said to have used its headquarters in Ireland to avoid tax liabilities in the UK before directing earnings to a subsidiary in the Cayman Islands. British companies that buy advertising on Facebook must do so via Facebook Ireland Ltd which entitles the company to sidestep HM Revenue and Customs and authorities in other higher-tax jurisdictions, reported the Sunday Times today.
President Obama named as TIME magazine's 'Person of the Year' for the second time in four years TIME: 'Obama is the beneficiary and author of a new America' | UPDATED: 17:42 GMT, 19 December 2012 Iconic: President Barack Obama has been named as Time Magazine's Person of the Year for 2012 President Barack Obama has been named TIME's Person of the Year for 2012, allowing him the honour for the second time in four years. The magazine cited the president's historic re-election last month as symbolic of the nation's changing demographics amid the backdrop of high unemployment and other challenges. 'He's basically the beneficiary and the author of a kind of new America – a new demographic, a new cultural America that he is now the symbol of,' TIME editor Rick Stengel said as he announced the choice on the Today show on Wednesday.