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Scoop.it!
Despite lockdown surge the firm’s Luxembourg unit made a €1.2bn loss and therefore paid zero corporation tax 
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Scoop.it!
The COVID-19 pandemic has severely affected Uganda’s economy and livelihoods. A new economic analysis says the higher use of digital technologies during the country’s three-month pandemic lockdown shows great potential to support faster economic recovery and strengthen resilience beyond the crisis.
Graham Watson's insight:
This World Bank clip looks at the impact of the coronavirus pandemic on an developing economy, arguing that it represents the most significant shock since the Second World War, and that it has disrupted the global economy in an unimaginable fashion.
However, it has also pushed economies towards digital solutions, both developed and, in this case developing economies, such as Uganda.
It highlights the impact of the pandemic on government spending, and suggests that digital platforms have the potential to aid economic recovery and generate sustainable development going forward.
Scoop.it!
The US walked away from global talks over fears other countries were trying to "screw America".
Graham Watson's insight:
The recent pandemic has put tech firms in the spotlight, and led to renewed calls for an international digital services tax. It's interesting that the Chancellor has spoken out in favour of such a move - it's something that the US will not be in favour of.
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Scoop.it!
The world's second largest fashion retailer is shutting stores as shoppers' habits change.
Graham Watson's insight:
Proof of the fact that global retailing has been hit by the coronavirus pandemic, with the world's second largest fashion retailer, H&M, planning to shut 250 stores across the world reflecting the rise in online retail and a reduced need for bricks and mortar stores.
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As consumers shy away from shops during the pandemic, online shopping has soared across South Africa.
Graham Watson's insight:
In common with the developed world, e-commerce has also picked up in other countries, in this case, South Africa. However, it's interesting to see the challenges that face e-commerce in this environment, not least the fact that existing e-commerce providers/delivery services are reluctant to deliver to the townships, for example.
It makes me think of C.K. Prahalad's "The Fortune at the Bottom of the Pyramid"
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Just read this: tax avoidance on a grand scale. Much as I'm an Amazon customer, I'd love to hear a justification of this that goes beyond the "it's legal" argument.
It's also horribly immoral, and means that the tech giant is competing with other retailers on a far from even playing field.