Édouard Philippe, the French prime minister, appealed to bankers relocating from London. Pictured: Édouard Philippe speaks at an environmental event in Paris, 4 July 2018. Photo credit: Edouard Philippe on Twitter
Trump in Brussels and sunscreen in Hawaii. Delano’s breakfast briefing.
Paris raises stakes in post-Brexit banking battle
France will introduce more favourable tax rules, such as allowing carried interest and the amortisation of goodwill, in order to attract more British bankers to Paris post-Brexit, reported Reuters. The French government previously announced caps in wealth and payroll taxes. The news agency quoted Édouard Philippe, the French prime minister, telling financial executives in a speech: “A financial centre is built with patience, by being consistent. I want this consistency to be the trademark of our economic strategy and our attractiveness policy.”
Private bank growth plans
VP Bank, a Liechtenstein-based private bank that has been expanding in Asia, said it has set aside $400m for acquisitions, according to Bloomberg. It is eyeing private banks in Asia, Luxembourg and Switzerland, its CEO said.
US media groups scuffle over Sky
The bidding war over the Sky pay TV group continues. Comcast raised its offer from £12.50 to £14.75 per share, reported the Financial Times and Reuters. Earlier this week, Rupert Murdoch’s 21st Century Fox, backed by Disney, indicated it would pay £14.65 a share.
Saudi Arabian women started driving (legally) just weeks ago, and now they’ve started driving for Careem, Uber’s ride hailing competitor in the middle east, according to MIT Technology Review. The company said that more than 2,000 women have applied so far.
New owners for Italian football club
A US hedge fund, Elliott Management, has taken control of AC Milan via a Luxembourg holding company, reported the AP and Reuters. The firm claimed the Luxembourg vehicle after a Chinese businessman failed to repay a loan. Elliott said it will inject €50m in the indebted club.
The final match is set
Croatia beat England 2-1 in extra time, reported the Guardian. Croatia will face France in the World Cup final on Sunday.
Trump criticises allies at Nato summit in Brussels
Donald Trump said Germany was a “captive” of Russia, because it spent “billions and billions of dollars” on Russian gas, reported the BBC, Bloomberg, Financial Times, Guardian and Reuters. Trump also called on Nato members to double their defence spending, from 2% to 4% of GDP. Most members do not even meet the 2% target.
Neo-Nazi convicted in Munich
The last surviving member of the National Socialist Underground, a German neo-Nazi terrorist group, was found guilty of 10 murders, 2 bombings and 15 bank robberies between 2000 and 2007, reported the BBC and DW. Most of the victims were ethnic Turks. Beate Zschäpe was sentenced to life in prison.
From Newser: A man in Canada saved his three young children from a polar bear attack. A 9 year old girl with cerebral palsy, who cannot talk or walk, saved her 18 month old brother from drowning. A cruise ship crew member who fell overboard was saved by another cruise ship 22 hours later.
Hawaii sunscreen ban
Before you head off for a Hawaiian holiday, make sure you’ve packed the right sunscreen. The state of Hawaii has banned sunscreens that contain oxybenzone and octinoxate, chemicals that damage coral reefs, starting in 2021, reported NPR and Mother Jones. That rules out about 70% of sunscreens sold in the US.
Apparently estate cars made by high end automakers--like Jaguar, Ferrari and Porsche--are “cool” now. At least, according to the US edition of GQ magazine.