Netflix accused of avoiding taxes by putting money in 'tax havens'
A British think tank has said that Netflix is almost certainly avoiding taxes by structuring itself in a way that all revenue from outside the US is sent to tax haven countries such as the Netherlands. Netflix is already receiving a $1 million tax break from the British government but avoiding tax in this way is common amongst large tech companies.
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Singapore headed for the worst recession since 2008 due to coronavirus
Singapore today became the first country in the world to report its economic growth data for the period during which the coronavirus outbreak became a pandemic, with data showing the country's GDP fell 10.6 percent from the last quarter. The International Monetary Fund has announced that the global economy could be headed for a recession both deeper and longer than the 2008 financial crisis.
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BBC
Nike to close stores around the world amid coronavirus outbreak
Nike announced on Sunday that the company is closing all of its stores in the United States along with some international stores in Canada, Western Europe, Australia, and New Zealand. The decision will take effect from Monday but the company clarifies that some stores in South Korea, Japan, and China will remain open. Nike joins retailers like Patagonia, Apple and Urban outfitters in closing international stores.
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CNBC
Netflix in lock-down due to risk of coronavirus spread in an office
Netflix's head office in Los Angeles may have been exposed to the coronavirus as an employee who works there looks 'likely' to have been infected. Although many employees were already working from home, around 1,000 of them are currently at varying degrees of risk. The office has now been evacuated.
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Deadline
Coronavirus update: $5 trillion lost as markets spiral
With the recent cancellation of the Geneva car exhibition, the uncertainty and panic caused by fears of a coronavirus pandemic has lost world share markets up to 5 trillion USD as new cases continue to be detected, with three more countries recording their first coronavirus cases and China's death toll at more than 2800, with 78,800 recorded cases, while the international death toll stands at 70, with 4200 infected.
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Reuters