Austria pressing ahead with digital tax after EU-wide plan fails

VIENNA (Reuters) – Austria will press ahead with a proposed tax on internet giants after plans for an European Union-wide levy fell through this week, Finance Minister Hartwig Loeger said on Friday. Austria said in January that it would tax firms like Google, Amazon, Facebook and Alibaba 3 percent of their advertising revenue from within Austria. It said at the […]

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Austria to introduce digital tax after failure of EU-wide plan

VIENNA (Reuters) – Austria will press ahead with a planned tax on Internet giants after plans for an EU-wide levy fell through this week, Finance Minister Hartwig Loeger said on Friday. Austria said in January that it would tax firms like Google, Amazon, Facebook and Alibaba 3 percent of their advertising revenue from within Austria. It said at the time […]

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Philippine Congress approves $72.15 billion national budget for 2019

MANILA (Reuters) – The Philippine Congress on Friday approved and ratified the nation’s 3.757 trillion pesos ($72.15 billion) budget for 2019, ending weeks of impasse and allowing the government to spend on infrastructure projects to boost the economy. Philippines President Rodrigo Duterte has pledged to usher in the “golden age of infrastructure” and lift economic growth in the country of […]

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DHL to close Chile e-commerce business by April: newspaper

SANTIAGO (Reuters) – Package delivery company DHL [DHL.UL] will shutter its Chilean e-commerce division in April, plagued by weak results in one of Latin America’s most stable and prosperous economies, Chile’s Diario Financiero newspaper reported. DHL said that it would close its eCommerce division on April 12, but that the company’s other package delivery divisions would continue to operate in […]

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Zimbabwe doctors end strike without deal as unions meet government

HARARE (Reuters) – Zimbabwean doctors on Thursday ended a 40-day strike for better pay and conditions that crippled public hospitals without a deal on salary increases, their union said, but warned that members may not report for work daily due to acute fuel shortages. The announcement by the Zimbabwe Hospital Doctors Association (ZHDA) came just hours before public sector unions […]

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Mexican president decrees tax cuts for U.S. border region

MEXICO CITY (Reuters) – Mexico’s new leftist President Andres Manuel Lopez Obrador on Monday decreed tax cuts for northern states that he says will help power economic growth and deter migration to the United States. An executive order in the government’s official gazette granted lower rates for both value-added and income taxes in more than 40 municipalities bordering the United […]

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Zambia denies White House claim China taking over power utility

LUSAKA (Reuters) – Zambia has denied claims by a White House official that China is about to take over its state power utility to recover $6-10 billion debt, noting the utility was never provided as collateral and its debt to Beijing was only $3.1 billion. U.S. National Security Advisor John Bolton said on Thursday that China’s quest for more power […]

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Macron faces pressure to change tack as French unrest slows economy

PARIS (Reuters) – President Emmanuel Macron met French lawmakers, trade unions and business groups on Monday before giving a national address when he will respond to violent anti-government protests convulsing the country. Heaping pressure on Macron, the Bank of France said the nationwide unrest was stunting the economy, forecasting that growth would slow to a virtual standstill in the fourth […]

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Trump Wants To Reduce Deficit But Refuses To Cut Spending, New Report Says

“He’d just say, run the presses, run the presses. Sometimes it seemed like he was joking, and sometimes it didn’t,” a former Trump administration official recounted for the Washington Post. Trump’s plea to “run the presses” was directed at former National Economic Council Director Gary Cohn, as the president was trying to persuade the council to print more money. Cohn […]

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New York Is a Genuine Tech Hub (and That Was Before Amazon)

In 2003, Craig Nevill-Manning, a computer scientist at Google, wanted to set up an engineering outpost in New York. Google’s top leaders were skeptical, but they told him that he could go ahead if he could find 15 “Google-worthy” software developers in the city. “The attitude was that pretty much all the good software engineers were in Silicon Valley,” Mr. […]

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