McDonald's to move European Headquarters from London to Geneva

U.S fast food company McDonald's Corp (MCD) will move its European headquarters from London to Geneva later this year due to concerns over taxes in the U.K., the Sunday Telegraph reported.

The report said McDonald's, which opened its first restaurant in London in 1974, joins other large U.S. corporations that have based their European operations in Switzerland, including Kraft Foods Inc (KFT), Procter &Gamble Co (PG), Colgate-Palmolive Co (CL) and Yahoo! Inc (YHOO).