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Global tax rates, and cruises are starting back up
Good morning everyone! We hope you’re having a fantastic week so far!
In a meeting with global leaders yesterday, Janet Yellen fought for a global minimum corporate tax rate, saying that it will prevent a “race to the bottom” among countries. This viewpoint has been brought along by President Biden’s infrastructure bill which will raise the corporate tax rate from 21% to 28%. She also said that America needs to be more present on the global economic front, saying, “Over the last four years, we have seen firsthand what happens when America steps back from the global stage.”
Yesterday LG confirmed what many analysts had been expecting for months: they’re officially exiting the smartphone business. According to a press release, this will “enable the company to focus resources in growth areas such as EV components, connected devices, smart homes, robotics, AI, and B2B solutions, as well as platforms and services.” While that is true, their smartphone division has experienced huge losses over the last five years, and rumors indicated that they were trying to sell the division but were unable to find a buyer.
0:51- Big boats have a big ask
Norwegian Cruise Line Holdings officially asked the CDC yesterday for permission to set sail from US ports starting on July 4th (the date President Biden has pointed to as a potential re-opening of the country). In its statement, the company said that its vaccination policy would allow it to be classified as “low risk” for fully vaccinated individuals, as the company will require all passengers and crew to be fully vaccinated two weeks before boarding. In a statement on the matter, the CEO Frank Del Rio, simply said “If we’re allowed to cruise, results are going to be damn good.”
Yesterday the Supreme Court decided to erase a decision by a federal appeals court that stated former President Trump had violated the Constitution by blocking citizens on Twitter. According to the statement, the decision is now “moot” as Trump is now a private citizen, and lower courts will no longer be bound by that judgement.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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