Banca March: More than 130 countries have extended by 18 months, until 2025, the controversial ban on taxing tech giants wherever they operate. Five countries, including Canada and Russia, oppose the extension. Plans to introduce national taxes on digital services were also agreed to be postponed for another 12 months. The aim is to allow more time to ratify the global tax agreement signed in 2021, which they have not…
Sean Markowicz (Schroeders) | The largest US technology stocks – Apple, Microsoft, Amazon, Facebook and Google (Alphabet) – known as the “FAMAGs”, have largely benefitted from the economic fallout of the crisis, as more people rely on their technology to work and shop from home. However, their increasing dominance is raising concerns about the top-heavy composition of the US equity market and the sustainability of the tech rally.
In its last report about Big tech in finance, the Bank of International Settlements (BIS) warns about the risk of a “digital monopoly” of tech companies which own their clients´ information for free.
Peter Isackson via Fair Observer | Monopolist capitalism in the era of digital control reassures some and frightens others. Can it be controlled?