Crystal Concise May 2022

Here’s a snapshot from the Crystal team of some of the highlights and points of note for finance and corporate comms pros from around the jurisdictions and media world this past month…

• IoM: Douglas was granted official City status as part of the Queen’s Platinum Jubilee celebrations.

• BVI: following a report and significant political and public debate into governance failures, the UK government decided against direct rule.

• Luxembourg: Google's massive data hub ambitions in the country could be revised following lengthy legal battle.

• EU: Google pays more than 300 EU publishers for content. It's the result of the 2019 European Copyright Directive, which is being rolled out country-by-country

• Global Tax stalls: despite 140 countries backing a 2023 implementation date for significant corporate tax changes, rules now look to be shifted to 2024

• Pandemic Cost: the cost to IFCs of the pandemic is becoming clearer, with an auditor general's report in Cayman calculating that the pandemic cost the Cayman government $333m, covering lost revenues and expenditure

• ESG backlash: a US entrepreneur has raised $20m and launched a fund that will only invest in firms that are focused on maximising profits. It's the antithesis of the ESG movement.

• Social media: Less than a year after launching a suite of podcast support tools, Facebook announced it was removing podcast support, indicating a move away from the audio content space.