In a bid to save €60 billion in 2025, the French government has unveiled a draft budget plan targeting wealthy individuals and billion-dollar corporations with temporary tax hikes. The measures aim to reduce France’s budget […]
In one of the largest fines ever imposed on a company, a Russian court has ordered Google to pay a staggering 2 undecillion roubles—a number so vast it’s hard to imagine, equaling about $20 decillion […]
In the latest round of trade disputes, China has imposed new tariffs on European brandy imports, a move seen as retaliatory after the European Union levied tariffs on Chinese electric vehicles. French officials have criticized […]
In a bold move to address the housing crisis, the Heather Lands in Vancouver will soon be home to 2,600 new units, blending market-rate and affordable housing. With Vancouver’s property market among the most expensive […]
In a recent campaign speech, former President Donald Trump pledged to abolish taxes on overtime pay if re-elected. Speaking in Tucson, Arizona, Trump argued that this move would incentivize workers and ease hiring pressures on […]
Google and Apple, two of the world’s largest tech companies, have faced heavy fines for abusing their market dominance, highlighting the economic consequences of monopoly power. In a major ruling, Google was ordered by the […]
Bill Gates recently spoke out about the US tax system, stating that he would be significantly poorer if he had designed it. Gates advocates for a more progressive tax structure, where the rich pay a […]
New Zealand is set to raise its tourism entry tax, increasing the International Visitor Conservation and Tourism Levy from NZ$35 (£16.52) to NZ$100 (£47.20) from October 1, 2024. This tax is intended to boost economic […]
Governments worldwide could raise over $2 trillion by adopting Spain’s wealth tax model, according to the Tax Justice Network. This additional revenue could play a crucial role in funding climate transition initiatives. The concept of […]
The government in Thailand plans to raise the daily minimum wage by 14%, reaching 400 baht ($10.88) by October 1. This move has sparked concern among business groups, fearing that higher labour costs could lead […]
In a bold stride towards public health, the UK Parliament has recently advanced legislation aimed at banning cigarette sales to individuals 15 years old and younger, effectively setting a path towards a smoke-free future generation. […]
China’s economy demonstrated a stronger-than-anticipated performance at the beginning of the year, primarily fueled by significant advancements in high-tech manufacturing sectors. The National Bureau of Statistics reported a 5.3% increase in GDP for the first […]
In a move to bolster the United States’ semiconductor capacity, the CHIPS Act has earmarked approximately $52 billion in funding for the sector, aiming to reduce dependence on overseas chip manufacturing. Samsung, plans to use […]
Turkey’s inflation rate surged to 68.5% in March, marking a slight increase from February’s 67.1%, as reported by the Turkish Statistical Institute. The monthly consumer price jump of 3.16% was notably influenced by sectors such […]
The European Commission has initiated inquiries into two Chinese solar panel manufacturers amid concerns of potential government subsidies that contravene EU competition regulations. These investigations emerge as these firms vie for a contract to develop […]
In a significant policy shift, the Bank of Japan (BOJ) has ended its eight-year experiment with negative interest rates, initiating its first rate hike in 17 years. This move adjusts the short-term policy rate from […]
Uber has reached a monumental $271.8 million settlement with Australian taxi and hire car drivers, operators, and license holders. This compensation is for the economic losses they suffered following Uber’s entrance into the Australian market, […]
The UK government is set to introduce a ban on foreign government ownership of British newspapers and news magazines. This decision follows the contentious proposed acquisition of the Daily Telegraph and the Spectator by RedBird […]
In a decisive move to spur economic growth, UK Chancellor Jeremy Hunt has presented a budget focused on long-term prosperity and reducing the electoral deficit faced by the Conservative government. The centerpiece of Hunt’s announcement […]
In a notable effort to rejuvenate its tourism sector, Thailand has announced a reduction in alcohol tax rates. This policy, effective from Friday, is part of a broader strategy to appeal to international visitors and […]
China appears to be rerouting its exports to the United States via Mexico, sidestepping the hefty tariffs established by the US. Recent trade data suggests a significant uptick in Chinese goods shipped to Mexico before […]
In a landmark decision, Parisians have recently voted in favor of tripling parking charges for SUVs, a move aimed at curbing the use of “bulky, polluting” vehicles within the French capital. This significant increase in […]
Article: Scotland is set to take a bold step in its public health policy by increasing the minimum price of alcoholic beverages by 30%. This significant move, expected to be confirmed by ministers in Edinburgh, […]
In a recent move that’s caught the eyes of many, China has placed Shein, the global online retail giant, under the microscope as it prepares for an Initial Public Offering (IPO). This scrutiny isn’t just […]
In a significant move to address the increasing prevalence of vaping among young people, the UK government has announced plans to ban disposable vapes. This decision comes as figures from Action on Smoking and Health […]
China’s economy grew by 5.2% in the fourth quarter of 2023, falling slightly short of the anticipated 5.3% growth and highlighting ongoing challenges in its economic recovery. Despite this, the full-year growth for 2023 reached […]
California, long hailed as a pioneer in renewable energy, has recently made a significant policy shift that dampens the momentum of its residential rooftop solar sector. Last year, the state implemented a policy that substantially […]
China’s BYD (Build Your Dreams) has made a historic leap in the electric vehicle (EV) sector, surpassing Tesla to become the world’s largest EV maker. This shift signals a major transformation in the automotive industry, […]
Kentucky’s renowned bourbon industry is under threat of a substantial 50% tariff on exports to the European Union. This looming tariff, a potential outcome if the Biden Administration and EU do not finalize a trade […]
Saudi Arabia has recently unveiled a compelling tax incentive program, providing a 30-year exemption from corporate income tax for foreign companies moving their regional headquarters to the Kingdom. This initiative is a part of Saudi […]
In a significant policy reversal, New Zealand’s government plans to scrap the “generational smoking ban,” a groundbreaking law aimed at curbing smoking rates. Initially passed in 2022, the law intended to progressively raise the minimum […]
Japan’s economy, the world’s third-largest, contracted at an annual pace of 2.1% in the third quarter of 2023. This contraction, marked by weakened consumption and investment, represents a significant downturn from previous quarters. Notably, private […]
The global trade ecosystem is witnessing a seismic shift, with ‘Made in India’ labels becoming increasingly prominent on American shelves, a terrain once dominated by ‘Made in China’ products. This transformation, captured in a comprehensive […]
The U.S. Treasury Department is set to borrow a hefty $776 billion in the final quarter of 2023, a figure that’s slightly lower than the previous quarter’s record borrowing but still significant. This borrowing is […]
The Bank of England has signaled a tough road ahead for the UK, maintaining interest rates at 5.25% amidst a stagnating economy and persistent inflation. This decision comes at a critical juncture as the country […]
South Africa is facing a pressing unemployment crisis, with a staggering rate nearing 33%. This alarming figure has prompted the United Nations and other experts to label the situation as a “time bomb” that could […]
Billionaires around the world might need to keep a closer eye on their bank accounts. A recent report by the EU Tax Observatory suggests that some of the world’s wealthiest individuals are paying little to […]
Nigeria is making strategic moves in the global lithium market. The country has tightened rules around mining its lithium minerals due to the increasing demand from foreign mining companies. The Nigerian government has mandated that […]
China is making a bold move to bolster its economy by allocating an additional 1 trillion yuan ($137 billion) towards infrastructure projects. This strategic decision comes as China aims to counteract the economic pressures it […]
Microsoft has successfully closed its $69 billion deal to acquire Activision Blizzard, a significant move in the gaming industry. This acquisition was finalized after receiving the green light from the UK’s Competition and Markets Authority […]
The International Monetary Fund (IMF) has updated its economic forecasts for the year with the U.S. growth projection raised by 0.3 percentage points to 2.1%, compared to its July update, while the euro zone’s forecast […]
China has given the green light to Colombia’s beef exports, marking a significant move in the international meat trade. This decision was communicated to Brazilian meatpacker Minerva, which owns two plants in Colombia. The […]
China is making significant moves to attract foreign investment by easing its capital controls. In a bold step, China has allowed foreigners in its major cities, Shanghai and Beijing, to move their money freely in […]
The Bank of England’s Governor, Andrew Bailey, recently made headlines by suggesting that interest rates are nearing their peak, although they might still rise a bit more. He shared with MPs that the Bank is […]
Apple has hit a snag in China with recent reports suggesting that Chinese government workers have been instructed to stay clear of iPhones. This news has caused Apple’s shares to tumble for two consecutive days, […]
In July, the U.S. retail sales report showed a surprising increase, despite the inflationary pressures and a series of Federal Reserve interest rate hikes. The Commerce Department reported a seasonally adjusted increase of 0.7% for […]
Kleenex, a household name for facial tissues, is saying goodbye to Canada due to “unique complexities,” as stated by Kimberly-Clark, the parent company of Kleenex. This decision highlights the importance of understanding market dynamics and […]
In a move to bolster its economic recovery, China’s central bank, the People’s Bank of China (PBOC), announced on Friday that it would reduce the reserve requirement ratio (RRR) for all banks, barring those already […]
Swiss voters have made a significant decision to introduce a global minimum tax on businesses and a climate law targeting zero emissions by 2050. In a national referendum, 79% voted to raise the business tax […]
The inflation rate in the United States receded in May to its lowest annual rate in over two years, as per a report from the Labor Department. The consumer price index (CPI), a key measure […]
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