We start with the social media app tiktok because its ceo has vowed to keep on fighting after the us House Of Representatives passed a bill that could see the app banned in america. Shou zi chew released a video on tiktok threatening legal action and warning that if the bill becomes law it will mean the end of tiktok for its 170 million users in the us. Well hearfrom him injust a moment, but first, heres our us Business Correspondent erin delmore who has been following developments on capitol hill. The houseboat sets the stage for what could become an ultimatum to tiktok Chinese Owned Company bytedance. Selby avenue or it will be banned. There is a way to go between here and there. It needs to go through this and it faces an uncertain future. The Senate Majority leader has been noncommittal about whether he will bring it up for a vote. Some studies are only about to vote against it. If it does move through the senate, President Biden that he will sign it. Components of the bill argue t
A new report, funded by the european union, has found that the worlds super rich are still able to pay low rates of tax, despite a decade of efforts to reduce evasion. The study says there are still too many loopholes and billionaires are able to pay less than half a percent of their wealth. The eu tax observatory, which is behind the report, is calling for a new global minimum tax on billionaires saying that if the richest 3000 people in the world paid 2 , then it would raise 250 billion a year. Lets speak now to one of the reports authors quentin parrinello, Senior Advisor at the eu Tax 0bservatory . What more can you tell us about what this report is calling for and whether its feasible . In this report we are trying to target tax evasion and mistakes have happened in the last decade in terms of tax evasion. Mainly focusing on the taxation of billionaires. We are asking to replicate the agreement on the global scale. For Global Billionaires. As you said, Global Billionaires. As you
Time for a look at the Business News now with tadhg enright. Luxmy gopal, thank you very much. We are going to talk about tax. A new report, funded by the european union, has found that the worlds super rich are still able to pay low rates of tax, despite decades of efforts to reduce evasion. The study says there are still too many loopholes and billionaires are able to pay less than 0. 5 of their wealth. The eu tax observatory, which is behind the report, is calling for a new global minimum tax on billionaires saying that if the richest 3,000 people in the world paid 2 , then it would raise 250 billion a year. Earlier, i spoke to Richard Murphy a Tax Reform Campaigner and professor of accounting practice, Sheffield University Management School and asked how feasible that would be. The good news in this report today is that a lot of measures that are being put in place which i campaigned for over the last 15 years are working. For example, tax havens are now causing one third of the ha
Campaign against hamas could last several months. The idf says the next stage a widely anticipated Ground Offensive would happen soon. Now lets focus on the Business News and today the International Atomic Energy Agency completes a visit to take and assess marine samples near the Fukushima Daiichi Nuclear Power station. Since a 2011 tsunami, which severely damaged the Fukushima Nuclear plant, more than a Million Tonnes of treated waste water has accumulated there. Japan began discharging it in august, in a process that will take 30 years to complete. Despite Environmental Concerns the iaea endorsed the release plan but some countries from the region, notably china, have raised concerns. China has said it would ban alljapanese seafood imports. Last year, it imported 571 million worth of seafood from japan. Russia last week also suspended seafood trade. So are the bans likely to continue and how much could it harm japans economy and trade relations . Joining me now is professor Seijiro T
Feasible . The good news in this report today feasible . The good news in this report today is feasible . The good news in this report today is that feasible . The good news in this report today is that a feasible . The good news in this report today is that a lot feasible . The good news in this report today is that a lot of report today is that a lot of measures that are being put in place which i campaigned for over the last 15 years are working. For example, tax havens are now causing a third of the harm that they did and companies are paying more tax. But this report is right, the team that wrote it are correct, the wealthy are still getting away with paying much less tax than they should. Their claim is that that is because of the problems created by offshore. If im honest, im not completely convinced by that argument, they are arguing for this global minimum tax, and i see enormous problems in getting any form of agreement on it, and i was involved in negotiating that many of th