Companies with little or no physical presence in a country will be required to pay taxes if they make money off peoples’ data in that nation. The G7 also agreed to impose a global minimum tax rate. (Financial Times)
The share price of SAP, a German enterprise software firm, fell six per cent in late afternoon trading Thursday, following the announcement of its second-quarter results, which included the licensing revenue drop and a 21 per cent quarterly profit decrease. (Reuters)
Netflix missed its target increase in global subscribers by more than two million between April and June. Netflix said its new roster of shows did not attract as many subscribers as expected, but that there has been no material change in the competitive landscape that could account for its Q2 results. (The Logic)
