DINNER PARTY INTEL: Argentina’s virus wealth tax
1. Lab turkey next year?
Singapore has become the first country in the world to approve the sale of a meat product not derived from a dead animal. The "chicken bites" produced by San Francisco start-up Eat Just are made from cultured chicken cells grown in a bioreactor fed on plant-based nutrients. It tastes like chicken nuggets, says a reporter. The first bites will be served at a posh restaurant and are priced the same as premium chicken, says Eat Just co-founder and CEO Josh Tetrick.
2. Trump’s last entry
The US congress unanimously passed a law to force foreign-owned companies listed on US stock exchanges to comply with US accounting standards. But the real target of the bill’s bipartisan sponsors are Chinese firms, so Donald Trump will relish signing it into law before he leaves office. Currently China blocks its firms from sharing audited accounts with US authorities. Unless it complies, firms such as Alibaba, Tencent and PetroChina would have to delist. Public companies would also have to disclose whether they are owned or controlled by a foreign government. The American Securities Association says the bill is necessary to protect Americans from "fraudulent companies controlled by the Chinese Communist Party".
3. Virus wealth tax
Argentina has passed a "millionaire’s tax" to help pay for Covid-19 measures. The once-off levy, passed by 42 votes to 26 in the senate, affects about 12,000 people worth more than 200-million pesos (about R37m). They’ll pay a progressive rate of up to 3.5% on wealth in Argentina, and up to 5.25% on that outside the country. In October Argentina became the smallest country (population: 45-million) and the fifth worldwide to report 1-million confirmed Covid-19 cases.
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