VODAFONE WINS INDIAN TAX CASE

Vodafone Group has won an international arbitration case against the Indian government, ending one of the most high-profile disputes in the country involving a $2 billion tax claim. An international arbitration tribunal in The Hague ruled that India’s imposition of a tax liability on Vodafone, as well as interest and penalties, were in a breach of an investment treaty agreement between India and the Netherlands. SOURCE: Reuters

UK TECH TRADE UNDER THREAT

A radical “pro-tech” plan championed by Dominic Cummings to rewrite Britain’s data protection laws is endangering future cooperation with the EU worth billions to the British economy, Brussels has warned. The government estimates that EU exports to the UK of data-enabled services were worth approximately £31bn in 2017 while UK exports of data-enabled services to the EU were worth around £80bn in 2017. SOURCE: Guardian

PARIS BUSINESSES FACE CLOSURE

All over Paris, many businesses are on the verge of implosion. Several arteries in the capital are particularly affected: rue de Rivoli, rue du Faubourg Saint-Antoine, avenue des Ternes, avenue de la Grande Armée, the Marbeuf sector (near the Champs-Élysées), the district of Invalides. There are many examples. The health crisis – which never ends – “permanent” work in the capital, cycle paths and demonstrations. An explosive cocktail that has greatly weakened many businesses. SOURCE: Le Figaro

UK CAR OUTPUT AT 50%

British car factories are sending vehicles down assembly lines at barely half the rate they were a year ago. Just over 51,000 vehicles rolled off factory production lines in August, down by 44 per cent on the same month last year. Latest production figures showed that output slumped by 44 per cent in August to just 51,000. SOURCE: The Times

CINEMA GROUP IN TROUBLE

The world’s second largest cinema business said Thursday it has enough funds on hand to keep operating for now after it crashed to a loss of $1.6 billion for the first six months of the year as revenues slumped by 67%. The company warned, however, that it would need to raise additional cash early next year if a second wave of coronavirus cases cause “prolonged” shutdowns in the United States and United Kingdom. SOURCE: CNN

GERMAN TRAVEL INDUSTRY UNDER THREAT

The German travel association says that the situation in the German tourism industry is “threatening its existence”. Deutsche Bahn will introduce a Bahncard 25 discount card from October. Instead of a fare of 54.60 euros, it will then only cost 24.90 euros. “This award is an invitation: to everyone who has been using a car so far – or is currently doing it again,” said Michael Peterson, the long-distance transport director on Friday. SOURCE: Der Spiegel