Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Salesforce released its first earnings report since its $15.3 billion acquisition of Tableau Software, the company's largest deal ever.Technologyread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Kudlow also confirmed to CNBC that he supported a tax cut proposal floated earlier Thursday by Sen. Rick Scott, R-Fla.Politicsread more
VMware is following through on its proposal to buy Pivotal, a fellow Dell subsidiary, and expanding into cybersecurity with the acquisition of Carbon Black.Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.Food & Beverageread more
Weisler has been CEO at the company since 2015 when it split from HPE.Technologyread more
Companies want to know our values and if they work with us, "they want to be aligned with those values," Salesforce co-CEO Keith Block says.Mad Money with Jim Cramerread more
A three percent tax on the French revenue of large internet companies could yield 500 million euros ($568.3 million) per year, French Finance Minister Bruno Le Maire said on Sunday.
Le Maire told Le Parisien newspaper the tax is aimed at companies with worldwide digital revenue of at least 750 million and French revenue of more than 25 million euros.
He said the tax would target some 30 companies, mostly American, but also Chinese, German, Spanish and British, as well as one French firm and several firms with French origins that have been bought by foreign companies.
"A taxation system for the 21st century has to built on what has value today, and that is data," Le Maire said.
He added it is also a matter of fiscal justice, as the digital giants pay some 14 percentage points less tax than European small-and-medium sized companies.
Fairer taxes are a key demand of the "yellow vest" protests seen across France in the past three months.
Le Maire said the tax would target platform companies that earn a commission on putting companies in touch with customers.
Companies selling their products on their own websites would not be targeted, such as French retailer Darty which sells TVs and washing machines via its website.
But companies such as Amazon earning money as a digital intermediary between a producer and a client would have to pay.
The tax would also target the sales of personal data for advertising purposes.
In order to avoid penalizing companies who already pay taxes in France, the amount paid will be deductible from pretax income, Le Maire said.
He will present a draft law to the cabinet on Wednesday before it is presented to parliament.
France has led a push for firms with significant digital revenue in the European Union to pay more tax at source, but has made little headway as Germany is cool to the idea, while member states with low corporate tax rates such as Luxembourg and Ireland firmly oppose the proposal.
In an interview with weekly Journal du Dimanche, Carrefour CEO Alexandre Bompard said it is high time to end the fiscal imbalance between brick-and-mortar firms like his and the U.S. and Chinese internet platform companies.
"They pour their products onto markets without even paying value-added tax, and hardly any other tax at all, it is intolerable. On the same turnover they should pay the same tax," he said.