Europe Daily Briefing: Millionaires call for higher taxes, Wirecard 'insider trading' probe, UK set to ban Huawei

14 July: Your round-up of the issues leading today's agenda

14 July: Your round-up of the issues leading today's agenda

  • Disney heiress Abigail Disney is among the millionaires calling for governments to impose higher taxes on the wealthy to help fund the recovery from the coronavirus pandemic, CNBC reports. “Tax us. Tax us. Tax us,” an open letter from the group calling itself “Millionaires for Humanity” read. The 83 signatories on the letter also included Abigail’s brother Tim, Ben & Jerry’s co-founder Jerry Greenfield, as well as British movie director Richard Curtis. 

  • German financial markets regulator BaFin has asked Munich prosecutors to probe possible insider trading in Wirecard AG shares before the company’s collapse last month, according to a BaFin spokeswoman, as reported by Bloomberg. Eight days before Wirecard’s share price slump, an individual posted in an online forum that auditor EY wouldn’t be able to sign off completely on its accounts on June 18, Handelsblatt reported earlier. This was because Wirecard couldn’t explain certain funds, the newspaper said.

  • The U.K. is poised to ban Huawei Technologies from its next generation mobile networks under a two-step plan to protect critical systems from security threats, a person familiar with the matter said, according to the Bloomberg. Under the blueprint, British phone companies will not be able to add any new Huawei components to their 5G networks by the end of the year. After that, all existing equipment made by the Shenzhen-based company would need to be removed from 5G infrastructure by 2027, the person said, speaking anonymously to discuss sensitive plans.


  • Spaniards fear that the sacrifices made during the coronavirus lockdown will be in vain after tourists from overseas flouted regulations about wearing masks and social distancing, The Guardian reports. As footage of drunken British tourists dancing on cars in the Mallorcan resort of Magaluf went viral, one Twitter user commented: “Parts of Spain in lockdown, the elderly shut away in care homes, we all wear masks in the street, but in Magaluf the antisocial and irresponsible Brits do whatever they please. It’s shameful.”



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