Alec Hogg: Trump Organisation criminally charged

Nigeria, Ireland and Kenya are among a handful of countries still holding out against a new global corporate tax regime that was agreed yesterday. South Africa, however, is among 130 signatories which includes all the major Western nations plus previously on-the-fence China and India. The historic agreement introduces a 15% minimum tax rate for multinationals in every country where they operate. Big tech companies Apple, Amazon, Facebook and Google, against whom the agreement was ostensibly aimed, say the tax is a big win for them. Other companies are not as buoyant. Experts estimate the deal will add between $100bn and $240bn annually to the tax bills of multinationals..Another headline grabbing news event from the US this morning is also tax-related. The Trump Organisation has been formally indicted by New York prosecutors, charged with tax fraud perpetrated over a decade and a half. Also in the dock is its CFO Allen Weisselberg a Trump family employee for almost 50 years. If guilty, he could be imprisoned for 15 years. Click here. Weisselberg (73), turned himself in on Thursday..Reflecting the global profile of the galloping gal from Limpopo, one of best read articles on the WSJ is the story of how SA Olympic gold medalist Caster Semenya has failed in a long-shot attempt to qualify for a different distance after being barred from defending her 800m title in Tokyo..___STEADY_PAYWALL___.Also of local interest, although the study was small the J&J vaccine has delivered promising results in protecting against the Delta variant of Covid-19 currently ravaging parts of South Africa. It is good news because J&J's vaccine appeared to be less effective against the Beta variant previously circulating in the country..Have a great weekend – and while you're relaxing, don't forget to sample the music on our new streaming service, BizNews Radio – guaranteed to spark memories..NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via BizNews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our help desk can assist – support@biznews.com

Alec Hogg: Trump Organisation criminally charged

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