ATO hits Big Tech haaard | Nike cut from the S&P 100 | Volkswagen to cut 50,000 jobs

The Australian Tax Office has ruled that Amazon, Google, Netflix and other tech giants need to pay extra tax in Australia…and this could cost them billions of dollars every year.

Nike has been dropped from the S&P 100… after losing around 76% of its market cap..

Volkswagen's board has signed off on 50,000 job cuts and halving its car models over the next 9 years.

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