The chief executive of Google says he is happy for his company to pay more tax. Speaking at the World Economic Forum in Davos, Sundar Pichai added that the tax system needed to be reformed, however, to address concerns that some companies were not paying their fair share. A report estimated that European countries had missed out on €5.4bn (£4.7bn) in tax revenues from Google and Facebook between 2013 and 2015.
J.P.Morgan may cut its 16,000-strong UK workforce by more than a quarter if financial rules change after Brexit, company boss Jamie Dimon has warned. Dimon told the BBC that the US giant would revise its long-term estimate of job losses upwards if Brexit prompted an upheaval of financial arrangements. He also warned that such an outcome from the talks is likely, as “there are a lot of people who are mad with the Brits for leaving and want their pound of flesh”.
Arsenal has signed a deal to promote a cryptocurrency, the first major football club to do so. The North London giant has teamed up with the gaming company CashBet, which is planning to launch its own currency CashBet Coin. The currency will be advertised at the club’s Premier League home games. However, experts have questioned whether such a deal is wise, given the risk of such investments.
Sales at WHSmith’s high-street stores fell over Christmas as the gift book market struggled. Chief executive Stephen Clarke said: “Our stationery and seasonal ranges, including cards and wrap, performed well with good sales growth versus last year.” However, he said there was a “particular issue” with humour books. Gross margins were up over the period, compared with a year earlier, but “slightly less than anticipated”.
The UK’s consumption of sandwiches has the same annual environmental impact as around eight million cars, according to scientists. The calculation found that the 11.5 billion sandwiches eaten each year in Britain generates, on average, 9.5 million tonnes of CO2 eq, “equivalent to the annual use of 8.6 million cars”. Making a sandwich at home could cut its environmental impact by 50% compared with buying a ready-made equivalent.
“After the ‘Death by Amazon’ index, we need a ‘Death by Netflix’ index. Why? Because the television streaming giant is not only on an unstoppable roll, it is also posing an increasing threat to a whole range of other companies.” The Daily Telegraph’ s Matthew Lynn says the streaming company could crush all around it.
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