Starbucks refutes tax charges

Executives at Starbucks have reportedly dismissed charges that it has underpaid its European tax bills

Politicians across Europe in the UK, Germany and France are pushing for an investigation into the coffee company following a report by Reuters into the firm's tax arrangements.

According to the news agency, the firm told investors its European businesses made a $40m (£25m) profit in 2011, but filed accounts that showed a $60m loss.

"We have never avoided paying taxes," said Michelle Gass, Starbucks European president, as the company announced its latest earnings.

She said the company had an "openness and willingness" to discuss its taxes, adding: "We look forward to clarifying our position in the days and weeks to come."