Tech giants in a new situation .. “sensitive data” password

Available data and data indicate that the next few days will bring more restrictions and crises to tech companies, in especially to large companies. Although the beginning was with the emergence of trade wars between the United States of America and China, the crisis has spread to the European Union, in particularly to Great Britain, which continues to stifle the technology market, in particularly the cryptocurrency market.

According to the Wall Street Journal, China plans to ban technology companies that hold a lot of “sensitive data” from offering their shares to the public in the United States of America. Informed sources said the Chinese Securities Regulatory Authority has informed some foreign companies and investors in recent weeks that the planned step is aimed at companies intending to offer their shares. in public underwriting outside of China through branches also established overseas.

These companies will not be able to do it while the companies are operating in other sectors could be excluded from the new rules, the sources say. Beijing’s goal: the institutional structure of shifting interest entities, which the country’s major technology companies use to circumvent restrictions on foreign investment.

In contrast, the United States Securities and Exchange Commission is in in the process of cracking down on financial advisory applications using artificial intelligence. A few days ago, the US Securities and Exchange Commission issued a broad request for comment on the impact of financial recommendations made by artificial intelligence and “gamification” tools – used by trading online like Robin Hood – on client investment decisions.

The Wall Street financial regulator said he fears such technologies put investors at risk by encouraging excessive trading and investing in certain titles. Observers have described the SEC’s overhaul of those apps as the first step toward better managing the growing power that retail investors are playing in the equity markets, which was scrutinized following the massive surge in questyear of memestock including GameStop and AMC.

The data indicates that the number of Chinese companies subject to the ban has gone from 48 companies during the Donald Trump era to 59 companies, according to the recent Biden decision, according to which the ban previously imposed by “Trump” was expanded to pump the United States investments in Chinese companies believed to be linked to the Defense and Surveillance technology sectors in China, and develops and sells surveillance technologies overseas

US Treasury data indicates that the list of Chinese companies will be updated on an ongoing basis, which opens the door for the inclusion of more Chinese companies in the call list, which heralds the entry of US-China relations. in a new phase of tension and congestion.

group of seven

And last July, the G7 countries announced they were close to activating an ambitious amendment to the tax system that imposes more taxes on American tech giants. in particular “Google”, “Apple”, “Facebook” and “Amazon”, without making sure that their concerted efforts are more than ever, will generate significant revenue for the United States. He stressed that he wanted to impose a global tax rate of at least 15% on companies and a more equitable distribution of the rights to profits of multinational companies located in different countries. At the same time, US President Joe Biden also wants to raise the tax rate on US companies in general and targeting companies that make high profits but pay very little taxes.

The tech giants are also facing mounting criticism in Europe and the United States for fears of having monopoly power. “The pressure is in increase for years, “said Lillian Faulhaber, a professor of law at Georgetown University.” But with the pandemic and its economic consequences, countries are finding it harder than ever to balance their budgets, while voters are increasingly disenchanted with it. companies that are making huge profits and apparently don’t pay big taxes, “he added.

Read More About: Business News

Leave a Reply