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Big Tech in focus next week as U.S. House panel votes on new bills

Big Tech in focus next week as U.S. House panel votes on new bills

The U.S. House Judiciary Committee will vote next week on a package of recently introduced antitrust bills including several targeting the market power of Big Tech, committee chair Jerry Nadler said on Wednesday.
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White House says G7 leaders will endorse proposed 15% global minimum corporate tax

White House says G7 leaders will endorse proposed 15% global minimum corporate tax

G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15% on corporations, White House national security adviser Jake Sullivan said on Twitter on Friday. 
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G7 global tax plan may hit corporate titans unevenly

G7 global tax plan may hit corporate titans unevenly

An agreement by wealthy nations aimed at squeezing more tax out of large multinational companies could hit some firms hard while leaving others relatively unscathed, according to a Reuters analysis.
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ByteDance launches Volcano Engine brand to offer TikTok 'secret' to businesses

ByteDance launches Volcano Engine brand to offer TikTok 'secret' to businesses

ByteDance launched on Thursday its new Volcano Engine brand to offer the proprietary algorithm used to power TikTok's personalised recommendations to more corporate clients.
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Biden drops Trump attempt to ban TikTok, WeChat; orders new review

Biden drops Trump attempt to ban TikTok, WeChat; orders new review

President Joe Biden on Wednesday withdrew a series of Trump-era executive orders that sought to ban new downloads of WeChat and TikTok, and ordered a Commerce Department review of security concerns posed by those apps.
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Covid-19: what was the impact on European commercial-street footfall in 2020?

Covid-19: what was the impact on European commercial-street footfall in 2020?

The main shopping streets in western European countries recorded downturns in footfall in 2020 ranging between 26.4% and 40%. In France, the number of store visitors fell by nearly 50%, according to a study.
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Big tech supports global tax, but wants digital services levies axed

Big tech supports global tax, but wants digital services levies axed

U.S. tech giants could benefit from the agreement of the G7 rich countries' agreement to create a global minimum 15% corporate tax rate if the final deal also scraps increasingly popular digital services taxes
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Google to change global advertising practices in landmark antitrust deal

Google to change global advertising practices in landmark antitrust deal

Google said it would make changes to its global advertising business to ensure it did not abuse its dominance, bowing to antitrust pressure for the first time in a landmark settlement with French authorities. 
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Anti-poverty groups criticise rich countries over G7 tax deal

Anti-poverty groups criticise rich countries over G7 tax deal

Anti-poverty campaigners on Monday criticised a deal reached by seven wealthy countries to impose a minimum tax on multinational companies, saying it would benefit rich nations at the expense of the poor.
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Shares in U.S. tech giants a notch lower after landmark G7 tax deal

Shares in U.S. tech giants a notch lower after landmark G7 tax deal

Shares in U.S. technology giants were down slightly in premarket trading after the world's richest nations agreed on a landmark global minimum corporate tax deal.
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Tech giants and tax havens targeted by historic G7 deal

Tech giants and tax havens targeted by historic G7 deal

The U.S., Britain and other large, rich nations reached a landmark deal on Saturday to squeeze more money out of multinational companies and reduce their incentive to shift profits to low-tax offshore havens. 
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Multinational retail group CGE appoints Stefano della Valle as CEO

Multinational retail group CGE appoints Stefano della Valle as CEO

Stefano Della Valle, COO of CGE, has been appointed CEO of the Central Group’s subsidiary that runs its European department stores (Rinascente, The Kadewe Group, Magazine Zum Globus and Illum) and its property portfolio.
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Virus disaster leaves deep scars on India's economy

Virus disaster leaves deep scars on India's economy

Expectations for India’s economic growth are being revised sharply lower as a surge in people losing their jobs and defaulting on debt suggest a more halting recovery from the financial shock of the COVID-19 pandemic.
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U.S. sets and suspends tariffs on six countries over digital taxes

U.S. sets and suspends tariffs on six countries over digital taxes

The US on Wednesday announced 25% tariffs on over $2 billion worth of imports from six countries over their digital services taxes, but immediately suspended the duties to allow time for international tax negotiations.
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Buy now, pay later players tackle credit conundrum in Mideast’s Gulf

Buy now, pay later players tackle credit conundrum in Mideast’s Gulf

Financial tech start-ups in Saudi Arabia and the United Arab Emirates offering online short-term credit say they are enjoying exponential growth as the coronavirus pandemic drives a shift in consumer spending online.
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Tom Ford starts search for eco-friendly alternatives to thin-film plastic

Tom Ford starts search for eco-friendly alternatives to thin-film plastic

The New York-based fashion brand has announced that submissions are now open for its Plastic Innovation Prize, which challenges participants to come up with biologically degradable alternatives to thin-film plastic.
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