Anonymous ID: 438984 Nov. 27, 2019, 8:39 a.m. No.7383629   🗄️.is đź”—kun   >>3756 >>3941 >>4118 >>4241

U.S. to announce findings from probe of France's tech tax on Monday

 

U.S. trade officials said they will announce any proposed action toward France on Monday when they release the findings from their investigation into the European ally’s tax on big internet companies such as Amazon, Google and Facebook.

 

“The United States Trade Representative is in the process of completing its investigation … of France’s Digital Services Tax,” the USTR’s office said in a statement on Wednesday, adding that it “will announce any proposed action in the investigation” on Monday.

 

France and the United States have been embroiled in a trade dispute over France’s planned 3% levy on digital services revenue on certain companies that U.S. officials have said threaten American tech giants such as Facebook Inc (FB.O), Google (GOOGL.O) and Amazon (AMZN.O).

 

The two sides earlier agreed to set aside their differences as talks continued, and U.S. officials weighed their options amid meetings with representatives from U.S. technology and other companies.

 

It was not immediately clear what action the United States might take or what the report’s findings would show. France’s tax had earlier prompted U.S. President Donald Trump, whose company owns a Virginia winery, to publicly threaten a retaliatory tax on French wines.

 

Canadian plans to impose a French-style digital services tax have also raised alarms in the tech industry.

https://www.reuters.com/article/us-usa-trade-france/u-s-to-announce-findings-from-probe-of-frances-tech-tax-on-monday-idUSKBN1Y11Y4

Anonymous ID: 438984 Nov. 27, 2019, 9:08 a.m. No.7383788   🗄️.is đź”—kun   >>3941 >>4118 >>4241

Deutsche Bank reportedly sells $50 billion worth of assets to Goldman Sachs as part of major overhaul

 

Deutsche Bank has reportedly offloaded more assets as part of CEO Christian Sewing's ongoing effort to restructure the struggling German lender.

 

According to a report from Bloomberg, Deutsche has sold around $50 billion worth of assets tied to emerging market debt to Goldman Sachs.

 

The assets were held in the bank's wind-down unit, Bloomberg reported citing a person familiar with the matter. The wind-down unit is a key component of Sewing's plan to turn around the lender. Its purpose is to help Deutsche offload unwanted assets in an effort to free up capital.

 

This marks the second instance in several months that Goldman reportedly purchased assets from Deutsche. Goldman bought the Asian block of equity derivatives Deutsche auctioned off in September, Bloomberg found.

 

In early July, Deutsche began a major overhaul of its business including as many as 18,000 layoffs. The bank said it planned to exit stock sales and trading, and to build out a new "Corporate Bank" to service corporate and commercial customers.

The bank also transitioned its prime brokerage unit to French lender BNP Paribas in late September.

 

Goldman Sachs and Deutsche Bank declined to provide a comment for this story.

https://markets.businessinsider.com/news/stocks/deutsch-bank-reportedly-offloads-50-billion-assets-goldman-winddown-restructure-2019-11-1028722024

 

 

Remember earlier this year that DB started off by saying it needed to put $50b into a bad bank…..

 

Deutsche Bank to set up 50 billion euro bad bank: FT

https://www.cnbc.com/2019/06/17/deutsche-bank-to-reportedly-set-up-50-billion-euro-bad-bank-ft.html