GAFA tax: Companies have received their tax notice

"Companies subject to this tax have received a tax notice for the payment of the 2020 installments," said Bruno Lemaire. Not to mention the possible wrath of the American authorities, the GAFA have already taken the lead. Here's how.   The negotiations on the digital tax at the OECD have come to naught. “We had suspended the collection of the tax until the OECD negotiations were concluded. This negotiation failed, so we will collect a tax on the digital giants next December, "explained Bruno Le Maire, the French Minister of the Economy, in mid-October. "Companies subject to this tax have received a tax notice for the payment of the 2020 installments," the Ministry of the Economy said today. Facebook and Amazon "are among the companies" which have been notified "in recent days", assures for its part the Financial Times. So after firing the first ones, what should the French authorities expect from now on? Has

Cobalt price continues its downward trend, affected by difficulties in the aeronautical sector

Cobalt prices have been plummeting for several months due to the drop in sales of electric vehicles. This downward trend should continue due to the slowdown in demand from the aeronautical sector, where the metal is used for turbine blades in reactors.
 
Cobalt price continues its downward trend, affected by difficulties in the aeronautical sector

The price of cobalt has been on a downward trend for several months, and this has increased with the Covid-19 pandemic. The metal has fallen 15% since February to around $ 30,000 a tonne as concerns arise about falling demand for jet turbine blades.

While the Covid-19 pandemic has grounded planes, airlines are posting losses, and some like Qatar Airways and Singapore Airlines are considering postponing purchases of new planes. Aerospace demand will stand at 4,442 t this year, down 18% from 2019, said George Heppel, an analyst at CRU Group quoted by Reuters.

This is in addition to the drop in demand already registered in the electric vehicle sector, bringing the total cobalt surplus to 6,300 t this year, according to the expert. While car sales should soon start to rise again, this should not be enough to rebalance the market.




With such prospects, it is the DRC, the world's largest producer, which has new reasons to worry at a time when its economy is already hard hit by the health crisis. The time when the metal was trading at $ 90,000 per tonne now seems far enough away.