Canada Plans Digital Tax in 2022 on Global Tech Giants Such as Facebook, Google | Technology News

OTTAWA (Reuters) – Canada plans to impose a tax on corporations providing digital services from 2022 that will stay in place until major nations come up with a coordinated approach on taxation, the Finance Department said on Monday.

The Organisation for Economic Cooperation and Development is working on a common approach to ensure digital behemoths, such as Alphabet Inc’s Google and Facebook Inc, pay their share of taxes as the coronavirus hammers budgets.

Canada said it was concerned about a delay in reaching agreement. The threat of digital services taxes has prompted threats of trade retaliation from outgoing U.S. President Donald Trump’s administration.

The new tax would come into effect on Jan. 1, 2022, and remain in place until a common approach is agreed upon. The measure would raise federal revenues by C$3.4 billion ($2.6 billion) over five years, starting in the 2021-22 fiscal year.

“Canadians want a tax system

Read More

Salesforce’s Slack Purchase Would Mark An Abrupt About-Face For Benioff

At the end of this year’s second quarter, Marc Benioff was adamant that it is a bad time for Salesforce to buy companies. 

“We’re not in a good M&A environment,” the Salesforce CEO and chairman told investors during an earnings call in August. “This isn’t part of our plan right now. We don’t see that. We really see focusing on our business.”

So it came as a surprise to observers that Salesforce is in advanced talks to buy Slack, the workplace instant messaging startup. Salesforce is reportedly expected to announce the deal after market close Tuesday when it reports third quarter earnings. It is expected to price Slack at a premium above its current $24 billion market cap, in a half cash, half

Read More

Russian inventor created his version of the Tesla 20 times cheaper with parts from the internet

The ideas of entrepreneur Elon Musk are a source of inspiration for many, as demonstrated by a Russian amateur inventor. This is Vladimir Kurbán, who created his own version of a Tesla car with parts purchased online .



a person standing in front of a car


© Spencer Platt/Getty Images vía BI


The enthusiastic creator decided to transform his old Nissan into an electric car, guided by YouTube tutorials. Kurbán bought the components on the Chinese platform AliExpress for about $ 1,300, and spent an amount on lithium-photopolymer batteries to power the vehicle.

Kurbán’s total investment was about 2,600 dollars, about 52,500 Mexican pesos . The cost of an original Tesla ranges between 970 thousand pesos (Model 3), and 2.1 million pesos (Model X).

After putting together his version of the hybrid vehicle, the man managed to turn it on and even take it for a ride. However, when he put it to charge, a short circuit caused

Read More

PlayStation 5, Xbox hard to find? You could be battling a bot

When Microsoft rolled out its Xbox Series X|S and Sony debuted the PlayStation 5 in mid-November, gamers were ready with their credit cards. But the devices sold out within minutes, leaving many consumers disappointed and dismayed. 

About two weeks later, shoppers got another chance to lay their hands on a PlayStation 5 when Walmart restocked the new console the night before Thanksgiving, ahead of the Black Friday and Cyber Monday shopping events. But that inventory also sold out within minutes. 

“I’ve been trying to purchase it for my little brother. I’m pissed and confused as to how at exactly 9:00 it’s going out of stock,” one person complained in a tweet to Walmart.

 The answer, tech experts says, boils down to one word: bots. 

Read More

Save Up To 75% On Phones, Watches, Laptops, Tablets And More

It might feel like the month of November has been one long sale, but all good things must eventually come to an end. Cyber Monday—the online-only capper to November’s enormous holiday sales event—is finally here, which means that if you’ve been waiting top buy some consumer electronics, time is quickly running out. Samsung, one of the undisputed giants of the consumer tech world, is celebrating Cyber Monday hard, so if you want to grab anything with the Samsung logo on it, now is the perfect time.

MORE FROM FORBES27 Best Apple Cyber Monday Deals: Save Up To 50% on AirPods, IPhones, MacBooks And More

Samsung is offering deep discounts across the company’s entire range of consumer products. Right now you can save on smartphones and

Read More

Zoom Video Drops Despite Q3 Beat, Strong Guidance

Shares of Zoom Video Communications  (ZM) – Get Report dropped 5% after-hours Monday following the company’s fiscal third quarter earnings release. 

The San Jose-based company reported quarterly earnings of 99 cents per share on revenue of $777.2 million. Analysts were expecting Zoom to report earnings of 76 cents per share with revenue of $693.95 million. 

“We remain focused on the communication needs of our customers and communities as they navigate the current environment and adapt to a new world of work from anywhere using Zoom,” said founder and CEO Eric Yuan in a statement. “Strong demand and execution led to revenue growth of 367% year-over-year with solid growth in non-GAAP operating income and cash flow in our third fiscal quarter.”

For the fiscal fourth quarter, the company expects revenue between $806 million and $811 million with earnings between 77 cents and 79 cents per share. Analysts are expecting

Read More

Apple hires venture capitalist Josh Elman to help improve App Store discovery

Apple has hired Josh Elman, a prominent venture capitalist and former vice president of product at stock-trading app Robinhood, to help it improve iOS app discovery in the App Store. Elman announced the news via his Twitter account on Monday, saying he’s also leaving his role as a board partner at the firm Greylock Partners and as a board member of prominent tech companies like Discord and Medium.

Elman joining the App Store team may help improve the iPhone maker’s relationship with developers after a rather rough year in which Apple’s stewardship of the App Store has been called into question by critics, rivals, and regulators. For instance, Elman is previously a board member of and investor in Houseparty, the chat app acquired by Fortnite creator Epic Games.

Read More

Facebook to buy customer service startup Kustomer

FILE PHOTO: The Facebook logo is displayed on a mobile phone in this picture illustration taken December 2, 2019. REUTERS/Johanna Geron/Illustration

(Reuters) – Facebook Inc said on Monday it would buy customer service startup Kustomer, as the world’s largest social network adds tools to attract more sellers to its platforms.

Kustomer allows businesses to aggregate customer conversations from multiple channels into a single-screen, and also to automate some of the responses to prospective buyers. The New York-based firm already has its services integrated on Facebook Messenger and Instagram.

The deal will also enable Facebook to scale up its WhatsApp Business service, as more companies flock to the instant messaging app to answer customer queries during the COVID-19 pandemic.

Financial details of the deal were not disclosed.

The Wall Street Journal, which first reported about a likely acquisition, said the transaction valued Kustomer at $1 billion.

Facebook has doubled down on

Read More

Zoom Projects Revenue That Would Top Analysts’ Estimates

Zoom’s slowing revenue expansion in the current period highlights investors’ concerns that 2021 won’t be as favorable for the software maker as this year, when the company gained customers forced to work and go to school remotely. Zoom’s stock has jumped sevenfold this year, heightening questions about whether the company is overvalued.

In the fiscal third quarter, Zoom said sales increased 367% to $777.2 million from a year earlier. Profit, excluding some items, was 99 cents a share. Analysts projected revenue of $693.4 million and adjusted profit of 75 cents.

Zoom’s stock has become a barometer of the pandemic economy, rising when Covid-19 lockdowns emerge and falling on good news about vaccines. Chief Executive Officer Eric Yuan has tried to diversify Zoom’s capabilities for large enterprises, small- and mid-sized businesses and individuals so the company can grow after the coronavirus is controlled and greater numbers of workers return to their

Read More

DeepMind AI handles protein folding, which humbled previous software

Proteins rapidly form complicated structures which had proven difficult to predict.
Enlarge / Proteins rapidly form complicated structures which had proven difficult to predict.

Today, DeepMind announced that it had seemingly solved one of biology’s outstanding problems: how the string of amino acids in a protein folds up into a three-dimensional shape that enables their complex functions. It’s a computational challenge that has resisted the efforts of many very smart biologists for decades, despite the application of supercomputer-level hardware for these calculations. DeepMind instead trained its system using 128 specialized processors for a couple of weeks; it now returns potential structures within a couple of days.

The limitations of the system aren’t yet clear—DeepMind says it’s currently planning on a peer-reviewed paper and has only made a blog post and some press releases available. But the system clearly performs better than anything that’s come before it, after having more than doubled the performance of the best system in just four years.

Read More