Corporate taxes have been decreasing for the last decades, the result of tax competition between countries, tax havens, as well as corporate tax shenanigans. The finance ministers of the G-7 have now agreed to a global minimum rate of 15%. This is big news, with important consequences.
We have all heard that China is a growing economic & military threat to the US and the world order. But is it really?
Michael Beckley’s book ‘Unrivaled: Why America Will Remain the World’s Sole Superpower’ demonstrates it isn’t, says The Atlantic’s David Frum. Here is why.
Looks like the Square Mile isn’t so sure about Brexit. The Bloomberg editorial board, for some unexplained reasons, is asking Europe to play nice with London.
I beg your pardon?
Brexit is a catastrophe for the fishing industry, despite being a critical issue in the debates. Unfortunately, that 0.2% of the UK’s GDP may only be the tip of the iceberg.
So far, the government is asking for patience.
“It ain’t over till it’s over”, said the baseball legend Yogi Berra. And Brexit is surely not over with this Christmas deal. Many issues remain unsolved.
While economists and journalists pour into the 1,200+ pages of the Brexit treaty and its long-term impact, the financial services are already seen as the big missing part. The Square Mile is getting worried.
That will not be to everybody’s taste…
A study from the London School of Economics of 18 OECD countries over the last 50 years confirms that reducing taxes only impacts those directly touched by the tax, and has no benefit to anyone else. Tax cuts increase inequality with no impact on economic growth and unemployment.
Fridges are the new rocket science… IBM’s target of a million-qubit requires the biggest and coolest fridge ever.
The article is also a good overview of where quantum computers are, and where they will be. Quantum computers will be exponentially better at some tasks, but not at all tasks. Excel will still run on your desktop; high-dimensional problems (investments! back-tests! optimizations!) would fit well in quantum computers. The next generation of software will separate tasks and send them to either/or, thanks to cloud-based quantum capacity.
Chicken nuggets and fries? To avoid the topic of fishing rights, maybe?
This whole story looks more like Waterloo than anything else…
Jiuzhang, China’s new quantum computer, has leaped forward Google’s and IBM’s quantum computers. It is also based on a different technology (photons, rather than superconductors), which is probably easier to increase the number of qubits.
Although quantum computers are only working on very particular problems now, the technology will eventually be groundbreaking.