Germany plans to tax major tech companies like Google and Meta at 10%, targeting tax avoidance and boosting media funding. Culture Minister Wolfram Weimer leads the effort, aiming for a fairer contribution from digital firms.
🔍 Key Points: ✔ Legislation: A bill is in progress, with talks on voluntary payments. ✔ Global Trend: Matches similar taxes in Britain, France, India, and Canada. ✔ Trade Tensions: May strain U.S. relations, as past efforts faced backlash. ✔ Concerns: Higher consumer costs and digital slowdown are debated.
📌 Next Steps: Germany’s coalition supports the tax, but a final decision is pending. Chancellor Friedrich Merz will soon visit Washington for discussions.
Germany plans to tax major tech companies like Google and Meta at 10%, targeting tax avoidance and boosting media funding. Culture Minister Wolfram Weimer leads the effort, aiming for a fairer contribution from digital firms.
🔍 Key Points: ✔ Legislation: A bill is in progress, with talks on voluntary payments. ✔ Global Trend: Matches similar taxes in Britain, France, India, and Canada. ✔ Trade Tensions: May strain U.S. relations, as past efforts faced backlash. ✔ Concerns: Higher consumer costs and digital slowdown are debated.
📌 Next Steps: Germany’s coalition supports the tax, but a final decision is pending. Chancellor Friedrich Merz will soon visit Washington for discussions.
The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothers—or maybe the next Silverado?—echoed through the canyons of Wall Street as investors prepared for the worst.
Telegram Gives Up On Crypto Blockchain Project
Durov said on his Telegram channel today that the two and a half year blockchain and crypto project has been put to sleep. Ironically, after leaving Russia because the government wanted his encryption keys to his social media firm, Durov’s cryptocurrency idea lost steam because of a U.S. court. “The technology we created allowed for an open, free, decentralized exchange of value and ideas. TON had the potential to revolutionize how people store and transfer funds and information,” he wrote on his channel. “Unfortunately, a U.S. court stopped TON from happening.”
