@peter_IFAMAG reads Twitter so you don’t have to.
HMRC sues General electric for over $1bn over alleged fraud, after giving the company a trophy for being good tax citizens in 2011. UK government-backed lending now tops £50bn. Eurostat’s figures show the cumulative decline of GDP in the first half of 2020 was 15.3%.
Tabby Kinder shares the story of HMRC, General Electric and PwC.
In 2012, HMRC gave General Electric a trophy for being a good tax citizen of the UK. Now, it's suing it over a $1bn alleged fraud.
Here's my dive into the tax scheme that fooled HMRC and that raises awkward questions for PwC…https://t.co/A9E0w7yMsm
— Tabby Kinder (@Tabby_Kinder) August 4, 2020
EU Chief Economist, Philip R. Lane, says new EU GDP data makes for ‘some sobering reading.’
Eurostat’s preliminary flash estimate of a quarter-on-quarter decline in GDP of 12.1% makes for sobering reading, writes Chief Economist Philip R. Lane in #TheECBBlog. Together with the 3.6% decline in Q1, the cumulative decline in output in the first half of 2020 was 15.3% 1/2 pic.twitter.com/y0SBIhb35n
— European Central Bank (@ecb) August 4, 2020
City A.M. highlight the government now backs £50bn worth of loans.
Government-backed coronavirus lending tops £50bn https://t.co/lrySAczukO pic.twitter.com/DB6Z8iLlzv
— City A.M. (@CityAM) August 4, 2020
NIESR suggest extending the furlough scheme could benefit the UK, and minimise joblessness both short and long term.
https://twitter.com/NIESRorg/status/1290584755642273792
‘Rishi’s Dishes’ are proving popular with Tweeters and the public.
Got to hand it to Rishi, its working pic.twitter.com/uEkdcPry1d
— Emma Revell (@emmamrevell) August 3, 2020
In today’s FT Big Read; there is a growing market for US foreign investment in India.
FT Big Read: A burst of nationalist anger in India has targeted Chinese investment in its booming start-up sector — and created an opportunity for the US https://t.co/aLRTGvoXwg pic.twitter.com/vX3Agdpow4
— Financial Times (@FinancialTimes) August 4, 2020
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