Shunning international tax talks could trigger trade war: OECD

Failure to work towards an international deal on taxing big digital companies could trigger a dangerous trade war, the OECD said on Thursday, urging countries to remain engaged in talks after Washington announced it was pulling out of them for now.

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Reliance says Saudi's PIF to invest $1.49 billion in Jio

Saudi Arabia's Public Investment Fund (PIF) will buy a 2.32% stake in Reliance Industries' digital unit Jio Platforms for 113.67 billion rupees ($1.49 billion), the Indian conglomerate said on Thursday.

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Thai central bank to develop payment system prototype for business using digital currency

Thailand's central bank unveiled on Thursday plans to build a prototype of a payment system for businesses using central bank digital currency (CBDC), or traditional money but in digital form being developed by monetary authorities around the world.

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Saudi wealth fund to invest $1.49 billion in India's Jio Platforms

Saudi Arabia's Public Investment Fund will invest 113.67 billion rupees ($1.49 billion) in Reliance Industries Ltd's Jio Platforms, the Indian oil-to-telecoms conglomerate said on Thursday.

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Italy wants a global agreement on digital tax by end of 2020: Economy Minister

Economy Minister Roberto Gualtieri said on Thursday Italy was still committed to a shared global deal on a tax on digital services, after the United States decided to quit global talks on how to tax sector giants.

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U.S.-China tech war bigger risk than coronavirus, EU chamber chief says

The coronavirus has disrupted supply chains and demand across the global economy, but it is the prospect of Europe becoming a casualty in the U.S.-China tech war that keeps the president of the European Chamber in China "awake at night".

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Europe threatens digital taxes without global deal, after U.S. quits talks

France said a U.S. decision to quit global talks on how to tax big digital firms such as Google , Amazon and Facebook was a "provocation" and the European Union said it could impose taxes even if no deal was reached by year-end.

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Deutsche Post sees Amazon dependence falling as online booms

German logistics group Deutsche Post AG said its dependence on Amazon is falling as the coronavirus crisis prompts a big rise in parcel shipments by other customers which it expects to continue in the second half of 2020.

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Online fashion stocks in vogue as coronavirus speeds ecommerce

Shares in online fashion retailers Zalando and ASOS jumped on Thursday after the German company said it expects a big increase in second-quarter sales and operating profit as coronavirus lockdowns accelerate a shift to ecommerce.

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Ford to offer hands-free driving in 2021 - six years after Tesla

Ford Motor Co said on Thursday that it will offer hands-free driving on its new Mustang Mach-E in fall 2021, six years after Tesla Inc and four years after General Motors Co introduced similar systems.

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Kenya video-conference platform elbows its way into crowded field

Tiny Kenyan start-up Gumzo is a minnow on the booming teleconferencing scene but its creators hope the platform will help companies spend more of their cash in Africa rather than on foreign technology companies.

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Facebook to share privacy report to new board committee, FTC

Facebook Inc said on Thursday it would now share the report on its privacy practices to a newly formed committee on its board following its settlement with the U.S. Federal Trade Commission over data privacy probe.

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EU ready to go it alone on taxation of digital firms

The European Union is ready to go it alone with taxing digital services of firms like Google, Amazon, Facebook or Apple if there is no global deal on such a tax this year, European Economic Commissioner Paolo Gentiloni said on Thursday.

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