Downing Street has asserted its right to set tax rates after an EU leader warned Britain against “aggressiveness” in slashing business levies during Brexit talks. A Number 10 spokeswoman said it is up to each member state how they set their taxes, following the comments made by Swedish Prime Minister Stefan Loefven. Source Independent
Boeing Co (BA.N) said Wednesday it was eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 U.S. workers as the largest American planemaker restructures in the face of the coronavirus pandemic. Source Reuters
China seeks to have its planned sovereign digital currency ready in time for the 2022 Winter Olympics here, the central bank revealed Tuesday, as the coronavirus pandemic accelerates a shift away from cash.
The government plans to run pilot tests at Olympic venues, though there remains no official timetable for a release, People’s Bank of China Gov. Yi Gang told Chinese media in an interview released by the central bank. Limited trials are underway in Shenzhen, Suzhou, Chengdu and the Xiongan New Area in the northern province of Hebei, he said. Source Asian Review
Airline giant Lufthansa said it cannot approve a German state rescue over fears that conditions imposed by Brussels would be too harsh. The aid package must still be cleared by the European Commission’s competition arm. Source Deutsche Welle
