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Netflix, Amazon.com face retail sales tax crackdown in Quebec

Bloomberg Quebec is getting serious about taxing Amazon.com Inc. and Netflix Inc. Canada’s second-most populous province said it would make the collection of the provincial sales tax mandatory for suppliers of goods and services based outside Quebec to put them on par with local rivals. Quebec expects the measures will enable it to recover C$155 million ($120 million) in lost ...

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BMW sued in US over diesel emissions fraud

Bloomberg BMW AG joined the growing list of carmakers sued by US drivers for installing software designed to cheat diesel-emissions tests. Drivers of “tens of thousands” of X5 and 335D model diesel cars built between 2009 and 2011 sued BMW and its technology supplier, Robert Bosch GmbH, alleging they installed algorithms designed to manipulate testing systems, using methods similar to ...

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Melrose makes promises in last-ditch pitch for GKN

Bloomberg Melrose Industries Plc made a last-ditch effort to allay concerns over whether it would be the right owner of GKN Plc as the battle for the UK engineering company takes on a political dimension a day before its 8 billion-pound ($11 billion) hostile offer runs out. “Melrose fully stands behind its plan to work for the improvement of not ...

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UK’s tight labour market holds back growth: BOE

Bloomberg UK companies are finding it harder and harder to hire the right people and it’s having an impact on the pace of economic growth, according to a Bank of England report. That’s bad news for the UK, which is already among the slowest-growing Group of Seven economies. It’s forecast to expand 1.5 percent this year and next, weaker than ...

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Britain to hire 1,000 additional border staff to prepare for Brexit

Bloomberg The UK plans to hire an extra 1,000 customs and immigration staff to ensure the security of the country’s border after Brexit. The extra workers will be funded from an additional 395 million pounds ($560 million) pledged to the Home Office, Philip Rutnam, the top civil servant at the department, told lawmakers on Parliament’s Home Affairs Committee on Wednesday. ...

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Back to 80s for Brexit-hit broadcasters sans deal

Bloomberg For UK-based international broadcasters like Discovery Communications Inc. and Walt Disney Co. concerned about the consequences of Brexit, the European Union has some rather unhelpful advice: look to the 1980s. If broadcasting isn’t covered by a negotiated free-trade deal between Britain and the EU, the fallback is the 1989 European Convention on Transfrontier Television, the European Commission said in ...

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McDonald’s in legal tangle in India

Bloomberg McDonald’s Corp. has a problem in India and its rivals are loving it. Even as the world’s largest restaurant chain tries to woo Indian stomachs with such menu items as the McAloo Tikki (a potato and pea patty on a bun), a legal dispute with a key franchisee partner has hampered its expansion. Shares of India’s Domino’s Pizza operator ...

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Sri Lanka to ‘redouble’ efforts on China, India free trade agreements

Bloomberg Sri Lanka will “redouble” efforts to strike a free trade deal with China and conclude and expanded trade pact with India as part of the island nation’s strategy of becoming an Indian Ocean hub for investors and multinationals, the country’s top diplomat says. Colombo inked a comprehensive free trade deal with Singapore in January and now has the bandwidth ...

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Pace of India road awards may set $15 billion record

Bloomberg India has awarded road contracts at a “breakneck pace” in 2018, raising the prospect that orders will reach a record this financial year, according to IIFL Wealth Management Ltd., the nation’s largest money manager for the rich by assets. Orders from the National Highway Authority of India (NHAI) may cross $15.3 billion in the 12 months through March, climbing ...

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Grab vanquishes Uber with local strategy

Bloomberg As Uber Technologies Inc. looked to conquer ride-sharing around the world, Grab was focussed on serving the 620 million people that share its home in Southeast Asia. Helped by the deep pockets of SoftBank Group Corp., Grab emerged the winner when Uber agreed to swap its business in the region for a 27.5 percent stake. The deal is a ...

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