Finance

U.S. to announce, but defer, retaliation over French digital tax: USTR

WASHINGTON (Reuters) – The Trump administration will announce actions against France over its digital services tax but will defer them while France defers tax collections from U.S. technology firms, U.S. Trade Representative Robert Lighthizer said on Thursday.

The actions, expected by industry to be announced on Friday, are tied to a U.S. Section 301 probe into France’s digital tax, which Washington says discriminates against U.S. tech firms such as Google, Facebook and Apple Inc.

The United States last month withdrew from multilateral talks to reach a global solution on digital services taxation, citing a lack of progress in the negotiations.

“We’re going to announce that we’re going to be taking certain sanctions against France, suspending them like they’re suspending collection of the taxes right now,” Lighthizer told an online event hosted by the London-based Chatham House think tank.

Officials from the European Union delegation and French Embassy in Washington were

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Teachers weigh risks of COVID-19

Christy Karwatt teaches social studies, but she’s been thinking more like a math teacher the past few days.

At 61, the Sarasota High School teacher is entering her 27th year in Florida’s system, and she loves her job. She had planned on teaching three more years to maximize her retirement payment. 

As COVID-19 cases spike across the country, officials pour on pressure to reopen schools full-time this fall.

Monday, Florida’s education commissioner ordered the state’s schools to open full-time in August. Tuesday, U.S. Education Secretary Betsy DeVos criticized plans to offer in-person instruction only a few days a week. And the Centers for Disease Control and Prevention is reworking its guidance on reopening schools after President Donald Trump said the guidelines were too tough. 

Early guidance from health experts: Scheduled days home, more online learning, lots of hand-washing

Karwatt began crunching the numbers on how much money she would sacrifice

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British retail to lose further 5,000 jobs in blow to economy

By Kate Holton

LONDON (Reuters) – Britain’s high street faces more than 5,000 job cuts after two of its biggest names said that customers were unlikely to return to their old shopping habits after the coronavirus crisis, in the latest blow to the country’s ailing economy.

Health and beauty chain Boots and department store John Lewis on Thursday joined other retailers in warning that they had to close stores to survive after customers moved online and remained wary of returning to town centres.

Boots, owned by Walgreens Boots Alliance <WBA.O>, announced 4,000 cuts in a blow to British finance minister Rishi Sunak, who announced his latest plan to save jobs on Wednesday, while John Lewis said it could lose 1,300.

Thousands of job losses have already been announced by the menswear shop TM Lewin, department stores Harrods and Debenhams, fashion stores Oasis, Warehouse, and Arcadia, and the DIY outfit Travis

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I’m running a ‘Common Sense Camp’ for my kids this summer

Oona Hanson is an educator based in Los Angeles, California. Her story “I’m Running a ‘Common Sense Camp’ for My Kids This Summer,” was originally published on Forge by Medium in June, and is reprinted here with permission.

One of my favorite single-panel comics from Gary Larson’s “The Far Side” features a boy pushing mightily against a door marked “pull.” Above him, a sign announces the building as a “School for the Gifted.”

It’s an image I’ve thought about more than once since becoming a parent. As my kids — now 12 and 17 — got older, it became clear that they were, let’s say, heavy on the book smarts. Sometimes, when my husband and I would observe our children struggling with ordinary tasks, we’d joke that they could benefit from Common Sense Camp.

The joke was never entirely that funny. In her book “How To Raise an Adult,” a

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British high street reeling as another 5,000 jobs go

By Kate Holton

LONDON (Reuters) – Two of the biggest names on the British high street said they would cut more than 5,000 jobs on Thursday after conceding that customers were unlikely to return to their old ways after the COVID-19 crisis upended retail.

Health and beauty chain Boots, owned by Walgreens Boots Alliance <WBA.O>, said it would cut 4,000 jobs and close 48 optician stores after shopper numbers plunged 85% in April at the height of the coronavirus lockdown.

John Lewis, middle England’s favourite department store, said it would close eight stores and lose a possible 1,300 jobs after it predicted that online sales would make up to 70% of its total sales this year and next, from 40% prior to the crisis.

“Closing a shop is always incredibly difficult,” said Sharon White, chairman of the John Lewis Partnership. “However, we believe closures are necessary to help us secure

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For Grief-Stricken West Louisville, Hope Looks Like A Grocery Store

Cassia Herron fumed as she watched an armored SWAT vehicle idle in the parking lot across from David McAtee’s barbecue stand in Louisville, Kentucky. It had only been four days since city police and National Guardsmen had fatally shot McAtee while enforcing a curfew during protests sparked in part by the March killing of another Black Louisville resident, Breonna Taylor. The city was raw with anguish.

McAtee was a fixture in Louisville’s West End, who worked for years as a cook at a local homeless shelter and was known for giving away food to customers at his restaurant who couldn’t afford to pay. People in West Louisville don’t need armored police intimidating residents, said Herron, a local entrepreneur and community advocate; they need the city to prioritize their health and well-being. They need grocery stores.

In the past five years, more than a dozen grocers have abandoned the city.

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Teachers weigh risks as COVID-19 looms

Christy Karwatt teaches social studies, but she’s been thinking more like a math teacher the last few days.

At 61, the Sarasota High teacher is entering her 27th year in Florida’s retirement system, and she loves her job. She had planned on teaching three more years to maximize her retirement payment. 

But as COVID-19 cases continue to spike across the state and the country, officials are pouring on pressure to reopen schools full time this fall.

On Monday, Florida’s education commissioner ordered the state’s schools to open full-time in August. U.S. Education Secretary Betsy DeVos on Tuesday criticized plans to offer in-person instruction only a few days a week. And the Centers for Disease Control and Prevention is reworking its guidance on reopening schools after President Donald Trump thought the guidelines were too tough. 

Early guidance from health experts: Scheduled days home, more online learning, lots of hand-washing

In the

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Virus Spurs Emerging Market Investors to Seek Returns in ESG

(Bloomberg) — Emerging-market investors may have identified the rare animal that offers a path to sustainable post-pandemic returns. Now they just need to find it.

The worst crisis since World War II is prompting some fund managers to rethink their strategies in a world with $13 trillion of sub-zero yielding debt and an increasing view that a V-shaped recovery is unlikely. Seeking opportunities in ESG, investments in countries and companies that are improving environmental, social and governance standards, are becoming crucial more than ever as investors navigate the pandemic-stoked market volatility.

“This is a crisis unlike anything we’ve seen and we cannot just go back to our old textbooks anymore that say ‘go buy the dip’,” said Thu Ha Chow, a money manager at Loomis Sayles Investment Asia Pte, who has been investing since Enron’s collapse. “The social and governance elements are going to be more important, but they can

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Ivy League First in Division I to Scrap Sports Competition

(Bloomberg) — The Ivy League canceled sports competition for the upcoming semester because of health and safety concerns about the coronavirus pandemic, becoming the first Division I conference in the U.S. to scrap football.

The conference, whose eight members include Harvard University, Yale University and Princeton University, made the move Wednesday, according to a statement.

“No decision has been made about competition in the winter or spring terms, including whether or not we can move fall sports into the spring,” the league’s executive director, Robin Harris, said in an interview. “There won’t be basketball games or hockey games or other sports in the fall.”

U.S. colleges are presenting their plans for the semester that begins in August or September, instituting steps for the safe return of students. They’re also deciding whether it’s too risky to resume the high-contact sport of football, which can bring in sizable revenue for a school

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Why Investors Should Keep an Eye on Changing Sales Strategies

In the first half of 2020, most car manufacturers are seeing decreased sales.

General Motors (NYSE:GM) recorded a 7% decrease in total vehicle sales in the U.S. during the first quarter of 2020 compared to the year-ago quarter, with sales falling 34% year over year in the second quarter. Ford (NYSE:F) saw a 21% decline in wholesales and a 15% decline in revenue year over year in the first quarter, with sales falling by a third in the second quarter compared to the prior-year quarter. Fiat Chrysler (NYSE:FCAU) reported a 15% decrease in revenue in the first quarter compared to the prior-year quarter. Even Tesla’s (NASDAQ:TSLA) second-quarter deliveries fell 4.9% compared to the year-ago quarter, despite the much-awaited opening of its Shanghai Gigafactory.

One reason for the decreased sales is likely lower income from high unemployment numbers. However, another big contributor is the fact that most car sales are made

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