1) How Facebook $FB Pays So Little Tax In India
India last year became Facebook’s biggest user base with 241 million accounts, but reported revenue was just 0.2 per cent of its global total. Now the Indian government is targeting US tech giants for a revenue grab. Financial Times (ft.com) video above published Feb 22, 2018:
2)Twitter Exec On The Future Of Streaming Sports
Laura Froelich, Twitter’s global director of sports partnerships, discusses the streaming media landscape among the major sports leagues with CNBC.com’s Eric Chemi.
S&P 500--Beware Wall Street's Charging Bull:
Tech Stocks Thumb Nose At Trump Trade War Fears As These 4 Industry Sectors Rock | investors.com March 2, 2018: "Perhaps more importantly, the Nasdaq is finding bullish support at its still-rising 50-day moving average. The market value-weighted index, boosted no doubt by strength in FANG stocks and other tech giants, is up 4.4% year to date."
Trade Wars? Trump tweeted Friday:“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!" German Stocks Crash Near 1-Year Lows On Trade Fears | ZeroHedge.com: "As Bloomberg notes, "the threat of a trade war was always likely to hit the export driven German economy hardest.""
"Don't Try To Make Sense Of This": Major Bank Gives Up On Today's Market | ZeroHedge.com Feb 28, 2018.Gartman Stopped Out On Market Short | ZeroHedge.com: "... we have been wrong in being short of equities, for there comes a time when the action of the market tells us that we have to admit the error of our ways ... facts make no difference for prices are higher…"
Beware Wall Street's Charging Bull:
- Byron Wien Market Commentary | Blackstone.com: "... I still expect that the Standard & Poor’s 500 will close above 3000 sometime in the second half ..."
- Fed’s QE Unwind Marches Forward Relentlessly | WolfStreet.com: "This Fed isn’t going to try to bail out every whiner on Wall Street. It has been clear about that. It won’t take Wall-Street whining seriously until credit starts freezing up – and the credit markets are far away from that."
- Deutsche Bank credit strategist Jim Reid: "rates and yields will continue to structurally move higher in the quarters and years ahead regardless of any short-term moves, and we hope policymakers won't be derailed by the inevitable macro issues that this will bring."
- Eurozone: The gulf separating the two camps of eurozone reformists | ft.com: "The German-led group remains opposed to the France and Italy contingent on sovereign debt."
- Eurozone reformers act as if the crisis never happened | .ft.com: "Here is a recipe for disaster. You start off by taking the two most toxic financial instruments of the past 20 years, and then merge them ..." See also Markets unprepared for a Europe without Draghi and Merkel | South China Morning Post | scmp.com: "International investors have a blind spot: the looming departure of the two dominant figures in European politics and finance"--Mario Draghi, the ECB’s president, steps down in October 2019.
- Eurozone: A New Cunning Plan to Allay Banking Jitters but "there’s a problem ... Spain’s Deposit Guarantee Fund (DGF) doesn’t have nearly enough funds in its coffers to cover large institutional deposits." [Likewise severely insufficient funding in Italy, Ireland, Netherlands, France and Germany]--WolfStreet.com.
- Italian elections Sunday, March 4, 2018--what the polls say--general expectation is for a three-way stalemate between Berlusconi’s center-right, a progressive PD-led alliance and M5S--top issues: unemployment, immigrants, Euroskepticism.
- "CalPERS Is Near Insolvency; It Needs A Bailout Soon" | ZeroHedge.com: "... deepest fissures in US society: between public and private workers, between taxpayers and benefits recipients, between the young and old, [may] all bubble to the surface at the same time ..." Editor's Note: Who's going to 'bail out' California's Democratic Party & Public Unions' created problem? Nancy Pelosi, Maxine Waters and Adam Schiff? LOL!
- Trump Is Winning | POLITICO.com: "Donald Trump is on track to win re-election to the presidency of the United States ... He’s cut taxes. He’s rolled back regulations. He’s put ISIS on its heels. The economy and the stock market are humming along again ... " See also Brad Parscale Will Be Donald Trump's 2020 Campaign Manager | WIRED.com.
4) ICYMI Tech News:
- YouTube [Owned by Google / Alphabet $GOOG $GOOGL] Hiring for Some Positions Excluded White and Asian Men, Lawsuit Says | WSJ.com: Former recruiter sues Google, says YouTube set minority hiring quotas, stopped hiring white and Asian males last year for tech jobs, and fired him for complaining.
- Despite the toxic pollution, oppressive government, and closed internet (The Great Firewall), Beijing, China, is trying to lure foreign talent to its version of Silicon Valley reports Reuters.com. But Beijing's Z-Park only has a little over 10,000 foreign hires, whereas in Silicon Valley, a third of the population comprises tech talent from all over the world.
- Google: How YouTube TV Gets To $10 Billion - Alphabet Inc. (NASDAQ:GOOG) | SeekingAlpha.com. But "You can have a million views a month and still not be able to make rent"--‘Success’ on YouTube Still Means a Life of Poverty | Bloomberg.com: top 3% of most-viewed YouTube channels receive around 85% of all views, attract 1.4M+ views/month, but only earn about $17K per year each in advertising revenue.
- EU gives Facebook and Google three months to tackle extremist content | TheGuardian.com
- Qualcomm swallows the poison pill--SeekingAlpha.com. But also read Qualcomm proposes further price talks with Broadcom: “We are willing to jointly select a law firm with antitrust expertise that you would fully brief on your licensing plans”--Qualcomm
- Ford is setting up for an autonomous ride-hail and delivery business in Miami | Recode.net: "The company is testing its cars in a delivery service, mapping out the streets for a driverless ride-hail service and setting up a fleet-management center."
- SEC Launches Cryptocurrency Probe | WSJ.com: "subpoenas to parties engaged in booming market for initial coin offerings"
- Huawei boasts its next smartphone will be 'much better' than iPhone X and aims to leapfrog Apple in a year | cnbc.com
- Statement by Acting FTC Chair on Ninth Circuit Court of Appeals Ruling in FTC v. AT&T Mobility, LLC | Federal Trade Commission: “I welcome the Ninth Circuit’s ruling as good news for consumers. It ensures that the FTC can and will continue to play its vital role in safeguarding consumer interests including privacy protection, as well as stopping anticompetitive market behavior.”
- 'It's going to end in tears': Reality check is coming for subscription-thirsty publishers | Digiday.com: Publishers are pivoting to subscriptions, as they did to video, but industry execs warn reader revenue is a difficult business model to implement.
- Best Buy will close all of its 250 mobile phone stores in the US by end of May--WSJ.com.
- Wipeout--Easy Come, Easy Go--Twitter has written down $66.4 million of its $70M SoundCloud investment: "SoundCloud finally secured a Hail Mary deal that included $170 million of new funding from the Raine Group and Singapore’s Temasek in August of 2017. However, that deal came with a corporate restructure that wiped out many of the start-up’s early investors, and ultimately also forced out SoundCloud’s founding CEO Alexander Ljung."--Variety.com.
- Nokia CEO sees big 5G rollouts nearly a year ahead of schedule | Reuters.com: "Far and away, the U.S. and China activity will dwarf Europe ..."
- Comcast's $31 billion Sky bid crashes Murdoch and Disney show
- China pushes back against criticism of plan for Xi to stay in power: President for life?
- NRA honors FCC chair with rifle for repealing 'net neutrality' [Editor's note: You can't make this stuff up!]
-- John Poole, Editor, Domain Mondo
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