Nasdaq: -Three% Technology shares stay beneath heavy promoting power is it time to shop for or must we stay up for decrease costs?
Idea #1-Big Tech Companies Taxed as Trade Wars Heat up
The United Kingdom has introduced plans to tax the revenues of main tech corporations.
Treasury leader Philip Hammond stated Monday 2% levy on gross sales of virtual products and services within the United Kingdom can be applied in April 2020.
Idea #2 Anti-Trust Legislation
President Donald Trump says his management was once “taking a look at” antitrust lawsuits in opposition to tech giants Amazon, Facebook, and Google.
In an interview with Axios’ Jonathan Swan and Jim VandeHei at the information web page’s premiere HBO display Sunday night time, Trump stated the European Union’s $five billion high quality in opposition to Google made him imagine pursuing legislation.
“You have a look at the European Union, they fined I assume it was once Google, billions of bucks, and albeit I do not like that they are doing that as a result of that is an American corporate,” Trump stated. “I do not believe it is excellent that they are doing that. But if anyone does that, it must be us doing it.”
Swan requested if Trump would direct the Justice Department to appear into the corporate as a monopoly, and Trump spoke back it was once “indisputably one thing we are taking a look at.”
When requested if he would ever smash the corporations up, Trump stated earlier administrations had mentioned it however the motion by no means materialized.
“But you are in fee now,” Swan interjected.
“I’m without a doubt in fee, and we’re indisputably taking a look at it,” Trump stated, earlier than clarifying he was once speaking about antitrust lawsuits for all 3 corporations.
Responsibility for such lawsuits would fall to the Federal Trade Commission or the Department of Justice’s Antitrust Division.
“That does not imply we are doing it, however we are indisputably taking a look at it,” Trump stated. “I believe the general public surmised that.”
These feedback are the most recent in Trump’s public goals on the 3 tech giants, which he up to now stated may constitute a “very antitrust state of affairs.”
Though he has known as the corporations “rigged” and warned Google particularly “higher watch out,” Trump has previously stopped wanting commenting on breaking the corporations up.
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