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Germany is considering a 10% digital service tax on major tech companies like Google and Facebook, led by Chancellor Friedrich Merz. This proposal aims to address the significant revenue these firms generate in Germany while contributing minimally in taxes, aligning with a global trend of taxing digital giants. However, it may provoke international backlash, particularly from the U.S., which has threatened tariffs against countries imposing such taxes.
[Bloomberg]
JPMorgan Chase's CEO Jamie Dimon reaffirmed the bank's commitment to long-term investment and growth in China, despite facing trade challenges. He labeled assertions of the bank retreating from the Chinese market as "completely false," emphasizing ongoing confidence in the region's potential.
Raiffeisen Bank shares have been impacted by geopolitical turmoil and new tariff threats from the USA, leading to losses in the banking sector of 0.6% to 1.5%. Despite this, the stock has gained 39% since the start of the year, indicating underlying strength. The future performance hinges on the stabilization of global trade relations.
Turkey has secured a method to continue paying for Russian natural gas imports, utilizing Austria's Raiffeisen Banking Group after US sanctions on Gazprombank expired. This workaround allows Turkey to process payments through a subsidiary in Russia not affected by sanctions, with US approval.Additionally, Turkish Foreign Minister Hakan Fidan is set to visit Russia for talks with high-level officials, including President Vladimir Putin, focusing on enhancing bilateral relations in trade, energy, and tourism.
Goldman Sachs analysts indicate that U.S.-EU trade talks are stalled, with significant disagreements over U.S. tariffs. While the U.S. views these tariffs as a starting point for negotiations, the EU sees them as a maximum limit to avoid retaliation. As the July deadline approaches, an extension of the tariff pause is anticipated, potentially accompanied by minor concessions, but new broad sectoral tariffs from the U.S. could provoke a moderate EU response, creating an unstable equilibrium.
Vietnam's stock market is poised for positive movement following encouraging trade negotiations with the United States, according to Mr. Dang Tran Phuc of AZfin Vietnam. While short-term corrections may occur, long-term stability is expected, particularly for large private enterprises and banking stocks. The VN index has shown recovery, closing at 1,314.5 points, with resistance anticipated between 1,320 and 1,340 points as the market awaits further developments.
Warren Buffett, at 94, has made significant investments in five Japanese trading companies, expressing a desire for long-term collaboration rather than change. His focus on Japan reflects a strategic shift, as he seeks to leverage the country's corporate governance reforms and low interest rates for potential infrastructure projects, amidst rising geopolitical tensions.
Bitcoin has fallen below $108,000 after reaching a high of $112,000, as profit-taking occurs amid renewed trade tensions. President Trump has threatened the EU with a 50% tariff on imports starting June 1, 2025, complicating negotiations and impacting market sentiment. Meanwhile, discussions on Trump's tax and spending program continue to shape investor expectations.
Investors can remain calm regarding the potential tariff threats from Trump against the European Union, according to Barclays. The financial institution suggests that the impact of such tariffs may be overstated and that markets are resilient enough to absorb these challenges without significant disruption.
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Germany proposes 10 percent digital service tax on major tech companies
Google Inc.
IND
GBR
CAN
ITA
TUR
FRA
ESP
AUT
DEU
Friedrich Merz
Wolfram Weimer
Donald Trump
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04:40 30.05.2025
appeals court halts ruling on trumps tariffs amid ongoing legal battles
04:19 30.05.2025
JPMorgan Chase Reaffirms Long-Term Commitment to Investment in China
04:52 25.05.2025
Raiffeisen Bank Shares Face Pressure Amid Geopolitical Turmoil and Market Uncertainty
20:40 24.05.2025
Turkey Secures Austrian Bank for Russian Gas Payments Amid Sanctions Challenges
RUS
TUR
USA
Vladimir Medinsky
Scott Bessent
Andrey Belousov
Mehmet Simsek
Sergey Lavrov
Vladimir Putin
Hakan Fidan
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11:43 24.05.2025
US EU Trade Talks Stalled Amid Tariff Disputes and Uncertain Future
10:16 24.05.2025
Vietnam Stock Market Shows Positive Trends Amid US Trade Negotiations
06:11 24.05.2025
Warren Buffett's Strategic Investments in Japan and Future Collaborations
Itochu Corporation
Mitsubishi Corporation
Sumitomo Corporation
Mitsui & Co. Alternative Investments Ltd.
USA
JPN
Donald Trump
Warren Buffett
Greg Abel
Charlie Munger
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03:45 24.05.2025
Bitcoin Drops Below 108000 as Trump Threatens EU with Tariffs
18:11 23.05.2025
Barclays Assures Investors on Trump's E U Tariff Threat Concerns
17:15 23.05.2025
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