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Yesterday β€” January 21st 2019Your RSS feeds

World’s 26 richest own as much as 3.8 billion poorest: Oxfam

By Claire Stam reporting from Davos

Billionaire fortunes increased by 12% a day in 2018, while the 3.8 billion poorest people saw their wealth decline by 11% a day, according to a report released by Oxfam to mark the opening of the World Economic Forum (WEF) in Davos. 

Before yesterdayYour RSS feeds

DealBook: Larry Fink Calls on Businesses to Lead, Not Just Live, With Purpose

By ANDREW ROSS SORKIN

A year after his annual letter to chief executives urged them to run their companies with the social good in mind, the BlackRock C.E.O. said they must step into a leadership vacuum.

Microsoft Pledges $500 Million for Affordable Housing in Seattle Area

By KAREN WEISE

The move is the most ambitious effort yet by a tech company to fund construction for local teachers, firefighters and other middle- and low-income residents.

Microsoft Pledges $500 Million for Affordable Housing in Seattle Area

By KAREN WEISE

The move is the most ambitious effort yet by a tech company to fund construction for local teachers, firefighters and other middle- and low-income residents.

EU wants end to member state veto on tax

By Georgi Gotev

The European Commission on Tuesday (15 January) proposed to end the veto power member states have over EU tax matters, an idea rejected by several smaller countries including low-tax hub Ireland.

The Trump Tax Cut: Even Worse Than You’ve Heard

By PAUL KRUGMAN

Skeptical reporting has still been too favorable.

Disability: Hiring People With Disabilities Is Good Business

By TED KENNEDY JR.

Microsoft, Bank of America and CVS are just a few big companies that profit from their proactive employment practices.

A Gutted I.R.S. Makes the Rich Richer

By THE EDITORIAL BOARD

With enforcement enfeebled, as much as 20 percent of potential tax revenues go uncollected.

Patreon Bars Anti-Feminist for Racist Speech, Inciting Revolt

By NELLIE BOWLES

Patreon, a crowdfunding site for content creators, is facing a rebellion after its human moderators booted a creator who had violated its hate speech policy.

Patreon Bars Anti-Feminist for Racist Speech, Inciting Revolt

By NELLIE BOWLES

Patreon, a crowdfunding site for content creators, is facing a rebellion after its human moderators booted a creator who had violated its hate speech policy.

Copyright could force us to pull out of EU, Google News boss says

By Samuel Stolton

A specific article in the controversial copyright directive may result in Google withdrawing their news aggregator service from the EU, EURACTIV has learnt. EU ministers are set to discuss the issue and reach an agreement on the file later this week.

Sheryl Sandberg Asked for Soros Research, Facebook Acknowledges

By NICHOLAS CONFESSORE and MATTHEW ROSENBERG

Facebook’s second in command wanted an examination of the billionaire’s financial ties after he delivered a blistering speech about tech companies.

Barclays doubles SVOD media fund

By Julian Clover

Barclays has increased the size of its streaming video on demand fund set up to assist British production firms to develop programming for the likes of Netflix and Amazon.

Originally established in March 2017, the fund has now been doubled to £200 million. Its designed to help production companies deal with cashflow issues caused because the streamers often pay cash on delivery rather than the point of commission they’re used to.

Among the companies to have benefitted from the previous fund are Roughcut Television, the comedy production company behind Trollied, Cuckoo and People Just do Nothing. There has also been funding for Drama Republic, which made Black Earth Rising, a drama based on the Rwandan genocide.

Denis Wray, Financial Controller at Drama Republic, said, “Barclays understands the financial challenges associated with high-end drama production financed in large part by an SVOD licence. For Black Earth Rising, the borrowing profile was steep and the repayment tail was longer than the UK industry was used to. As partners, Barclays are supportive of their producers, aware of the risks and challenges that we navigate on a daily basis, knowledgeable, ready to listen and available to help when required.”

Lorraine Ruckstuhl, Head of Media at Barclays Corporate Banking, added: “We’re seeing more and more SVOD activity and an increasing need for tailored financing that meets the specific needs of both the production company and the subscription service. With more SVOD platforms on the way and a growing focus on original content, demand is set to increase further and finance providers will have to keep innovating to meet changing funding requirements. We’re demonstrating our commitment to help the UK’s production companies make more world-class programming by doubling our SVOD fund and will also develop new financing options for the sector as the industry continues to evolve.”

Mark Zuckerberg Defends Facebook as Furor Over Its Tactics Grows

By CECILIA KANG, MATTHEW ROSENBERG and MIKE ISAAC

Mr. Zuckerberg said that he wouldn’t step down as chairman and that his No. 2, Sheryl Sandberg, was “doing great work” despite questions about their management.

San Francisco Approves Business Tax to Fund Homeless Services

By KATE CONGER

The city’s tech elites were divided over the initiative, which is seen as an effort to hold their companies accountable for exacerbating the local housing crisis.

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