Company news, markets and financial talking points, available from 8am Monday to Friday
Philip Hammond threatens new tech tax
The chancellor has called for a closer examination of how tech giants such as Google and Facebook are taxed. In his Spring Statement, Phillip Hammond said there is a case for interim measures in the meantime, including taxing revenues, rather than profits. Turning to online marketplaces such as eBay, he said there is an urgent need to check that the correct amount of tax was paid on transactions.
Is the end in sight for 1p and 2p coins?
The Treasury is questioning the future of 1p and 2p coins, as well as the £50 note. A consultation hints at the growing cost of handling the copper coins and questions the validity of the £50 note. Several countries, including Australia and Sweden, have already ditched their low denomination coins. A survey found that 60% of UK 1p and 2p coins are used and then saved in a jar or discarded.
The Crown’s Claire Foy paid less than Matt Smith
Claire Foy, who played Queen Elizabeth in the Netflix drama The Crown, was paid less than Matt Smith, who played the Duke of Edinburgh. Producers said that Smith’s previous work on Dr Who earned him the higher pay packet, despite the Golden Globe Foy won for her performance. This is the latest example of the gender pay gap in the entertainment industry, which has seen Hollywood and the BBC exposed for significant disparities.
US borrowing measure flashes amber again
A market measure of US borrowing is flashing amber again, reports the Financial Times, but traders say there are new reasons for the elevated cost of borrowing. Bloomberg data shows that the …read more
Source:: The Week – All news