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08.01 - Black economy and poor collection cost Belgium 11 billion euros in missed VAT revenue

Were all consumers to pay the VAT due, the government would bring in 11 billion euros more revenue annually. This is according to an reported by De Tijd. The state is missing out on the revenue due to the black economy and administrative problems.

07.53 - Netflix stricter for sharing account outside family

Streaming service Netflix, among others, is introducing new rules in Belgium that will make sharing passwords outside the family more expensive. 👉

07.44 - Virgin Orbit starts decommissioning.

The bankrupt satellite company Virgin Orbit is not making a relaunch, but is ceasing operations and selling its main assets to the companies Rocket Lab, Stratolaunch and Vast's Launcher. This puts a definitive end to Richard Branson's company once valued at over $3.5 billion.

07.37 - Wall Street closed sharply lower

Good morning! A look at the U.S. stock market charts shows that the turmoil surrounding the debt ceiling has not yet subsided.

  • Investors are concerned about the risk of US government default. The chances of the U.S. government defaulting are slim, but do exist, analysts say.
  • The S&P500 index fell 1.1 percent to 4,145.58 points, the Dow Jones index dropped 0.7 percent to 33,055.51 and the Nasdaq lost 1.3 percent to 12,560.25 points.
  • US Treasury Secretary Janet Yellen reiterated once again that the ceiling could be reached as early as June 1 and that "hard choices" would then have to be made about which bills will go unpaid if the debt ceiling is not raised.

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