E Weak Markets - Yom HaShoah

Business newspaper article

Today is Yom HaShoah when we remember our dead in the Holocaust. My maternal grandparents were driven from their home in the Sinnthal in Hessen, first to the old ghetto in Frankfurt, and then moved by humiliating cattle car to Belarus where they were shot. They didn't go to the USA as my other grandparents did, because they only had daughters, and didn't want to depend on sons-in-law. My murdered Opa was a veteran of the German Army as were almost all native-born Jews because Bismarck extended the draft to them when Germany was unified.

Today the Biden Administration revealed its planned changes in the corporate tax code, aimed at ending companies' ability to use loopholes to avoid US taxes by shifting profits overseas. The plan would raise $2.5 trillion over the next 15 years to boost clean energy, broadband, research, and infrastructure spending here. The corporate tax rate will go to 28% from the 21% it was lowered to by the Trump Administration but will remain lower than the 35% rate before 2017. It will also double the global minimum tax to 21% and make it harder to avoid. (Source: New York Times.)

The US Treasury Dept said there will also be a minimum 15% tax based on book value which the Wall Street Journal says is going to rope in fewer companies. It will only apply to companies with income of over $2 bn, rather than a mere $100 mn, the version from the Biden campaign

Today's markets are weak. There is plenty of news starting with Finland:

*Nokia today announced that DISH selected NOK’s NetGuard solution to assist with securing the US's first cloud-native, Open RAN-based 5G wireless network. Partnering with NOK will enable DISH to safeguard 5G network slices to be used for supporting enterprise and wholesale customers. Each 5G network slice can extend from the device through radio, access, transport, and core networks to each application server. Every path can be isolated and secured. Nokia’s NetGuard Security suite will be deployed within a cloud-native environment to provide security services through slice-specific Service Level Agreements (SLAs). NetGuard will back security orchestration, automation, and response capabilities needed to rapidly scale up networks and assess and efficiently resolve cyber incidents and security threats with a minimal manual intervention using automated tools, extended analytics, and integrated collaboration processes for an optimized user experience.

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