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Hi there,
Here's what we're watching in business and tech news this week:
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Big banks will kick off earnings season this week. Names like JPMorgan, Citigroup, Wells Fargo, Goldman Sachs, Bank of America, and Morgan Stanley are expected to report plunging profits given anticipated loan losses as the pandemic continues to afflict borrowers. On the flipside, Netflix will likely post positive results, fueled by increased demand amid Covid-19.
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Wednesday is Tax Day — postponed by 3 months due to the pandemic. As a result, the IRS is also paying roughly 3-5% interest on “late” refunds, compounded daily from April 15 to whenever they’re paid out.
- EU courts will grant verdicts on 2 major tech cases this week. The first involves Apple, which is appealing against the EU’s 2016 order to pay Ireland €13B ($16B) in unpaid taxes, and the second involves several tech giants, regarding their transference of user data out of Europe and compliance with privacy laws.
Governments across the globe are grappling with the issue of data security, especially in regulating multinational corporations. We cover the emerging trends in the cybersecurity space — as well as the companies well-positioned to reshape the industry — in our Cyber Defenders 2020 report here.
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