California Democrats have passed a new sales tax on digital software downloads, set to take effect next year. Governor Gavin Newsom is expected to sign the measure, projected to generate $900 million annually. The tax aims for parity between physical and online software sales.
President Trump threatened to impose 100% tariffs on French wines and champagnes in response to France's 3% digital services tax on tech giants. He urged President Macron to abolish the tax to avoid the tariffs.
미국 대통령 트럼프가 프랑스의 디지털 서비스세(DST)에 대해 100% 관세 부과를 경고하며 G7 정상회의를 앞두고 프랑스와의 무역 갈등을 시사했다. DST는 프랑스가 아마존, 메타, 애플 등 빅테크 기업에 부과하는 세금으로, 트럼프는 이를 미국 기업에 대한 차별로 규정했다.
California Governor Gavin Newsom proposed expanding the state's sales tax to include digital prewritten software, aiming for parity with in-store purchases. The move could impact software and SaaS companies and mirrors digital services taxes seen in other countries.
President Donald Trump has threatened to impose significant tariffs on the UK if it does not repeal its 2% Digital Services Tax, which targets revenues of major US tech firms. Trump claims the tax unfairly exploits American companies.
Trump has threatened to impose steep tariffs on the U.K. unless it drops its 2% digital services tax on U.S. tech companies including Google, Meta and Apple. Speaking from the Oval Office, Trump said the U.K. 'better be careful' and should drop the tax. The tax, introduced in 2020, raised £800 million in 2024-2025. The threat comes ahead of King Charles III's four-day state visit to the U.S. starting Monday.
Brent crude hits highest level since the US and Iran first agreed a ceasefire in early AprilRetail sales rise in Britain after Iran war prompted ‘panic at the pumps’Trump says he will ‘probably put a big tariff on the UK’ if it doesn’t drop digital services taxSarah Breeden’s warning that share prices do not reflect the many risks facing the global economy may have pushed the market down this morning, suggests Russ Mould, investment director at AJ Bell.He explains:The stock market reflects what investors think will happen in the future. While markets have been wobbly since the Middle East conflict unfolded, they didn’t pull back sharply in the early stages of the crisis, and more recently they’ve shown resilience. That suggests investors are confident the war will end quickly, and elevated oil and gas prices will retreat as supply is restored.Oil prices currently trade at $105 per barrel which is higher than the sub-$70 price seen at the start of 2026, but below the $120+ level when Russia invaded Ukraine in 2022. One could argue current oil prices are high enough to cause pain for businesses and consumers as everything becomes more expensive. There are already signs it is causing problems for companies as they report cautious outlook statements.Companies are considerably more pessimistic about the coming months.The German economy is being hit hard by the Iran crisis. Continue reading...
Bank of England deputy governor Sarah Breeden has warned that global stock markets are overvalued and vulnerable to a correction. Meanwhile, the ongoing Iran conflict continues to disrupt energy supplies, fueling inflation and dampening business confidence across Europe.
Sarah Breeden explains ‘I’m not saying it will happen today, tomorrow, in 12 months’ time’, but system needs to be resilientSarah Breeden’s warning that share prices do not reflect the many risks facing the global economy may have pushed the market down this morning, suggests Russ Mould, investment director at AJ Bell.He explains:“The stock market reflects what investors think will happen in the future. While markets have been wobbly since the Middle East conflict unfolded, they didn’t pull back sharply in the early stages of the crisis, and more recently they’ve shown resilience. That suggests investors are confident the war will end quickly, and elevated oil and gas prices will retreat as supply is restored.“Oil prices currently trade at $105 per barrel which is higher than the sub-$70 price seen at the start of 2026, but below the $120+ level when Russia invaded Ukraine in 2022. One could argue current oil prices are high enough to cause pain for businesses and consumers as everything becomes more expensive. There are already signs it is causing problems for companies as they report cautious outlook statements.“Companies are considerably more pessimistic about the coming months“The German economy is being hit hard by the Iran crisis.” Continue reading...
Bank of England deputy governor Sarah Breeden has warned that stock markets are too high and will likely fall back due to multiple risks facing the global economy. Speaking to the BBC, she noted that asset prices are at all-time highs despite numerous risks, including high AI valuations and private credit market concerns. While not predicting an imminent correction, she emphasized the need for the UK financial system to be resilient enough to withstand a potential sharp adjustment.
Trump has threatened to impose a 'big tariff' on the UK if it does not drop its digital services tax, a 2% levy on revenues of major tech firms introduced in 2020. The US president warned the UK 'better be careful', claiming the tax results in the US being 'taken advantage of'. The threat comes amid heightened UK-US tensions over the Iran war, with Starmer insisting the UK 'will not' join the conflict.
Trump has threatened to impose tariffs on the UK if it does not drop its digital services tax, a 2% levy on revenues of major US tech companies introduced in 2020. Speaking from the Oval Office, Trump said the US would 'reciprocate' with tariffs equal to or greater than what the UK collects. The tax targets companies with worldwide digital revenues over £500m and £25m from UK users. The threat adds to US-UK tensions following Starmer's rejection of UK involvement in Middle East conflict.
