PANews reported on October 29 that the French National Assembly passed an amendment to the 2026 budget, proposing to raise the digital income tax rate for companies such as Amazon, Alphabet (Google's parent company), and Meta from the current 3% to 6%. While this increase is lower than another proposal to raise the rate to 15%, it still signifies a significant increase in tax revenue. This move by France could provoke a strong reaction from Trump, who has repeatedly threatened retaliatory tariffs against France in response. Republican lawmakers in the United States have warned that a 15% tax rate would constitute an unwarranted attack on American tech companies, leaving Congress and the Trump administration with virtually no choice but to take strong retaliatory action. This amendment is only one component of the budget bill, which may be voted on next month or in December; whether it will ultimately become law remains uncertain. Although the 6% tax rate amendment was proposed by members of President Macron's party, the French government remains cautious, stating that it will continue to communicate with parliament. The French Finance Minister stated, "We have noted Parliament's desire to strengthen taxes on digital giants. This matter needs to be handled with care, especially regarding raising the tax threshold. We must advance this work through European-level and international dialogue."PANews reported on October 29 that the French National Assembly passed an amendment to the 2026 budget, proposing to raise the digital income tax rate for companies such as Amazon, Alphabet (Google's parent company), and Meta from the current 3% to 6%. While this increase is lower than another proposal to raise the rate to 15%, it still signifies a significant increase in tax revenue. This move by France could provoke a strong reaction from Trump, who has repeatedly threatened retaliatory tariffs against France in response. Republican lawmakers in the United States have warned that a 15% tax rate would constitute an unwarranted attack on American tech companies, leaving Congress and the Trump administration with virtually no choice but to take strong retaliatory action. This amendment is only one component of the budget bill, which may be voted on next month or in December; whether it will ultimately become law remains uncertain. Although the 6% tax rate amendment was proposed by members of President Macron's party, the French government remains cautious, stating that it will continue to communicate with parliament. The French Finance Minister stated, "We have noted Parliament's desire to strengthen taxes on digital giants. This matter needs to be handled with care, especially regarding raising the tax threshold. We must advance this work through European-level and international dialogue."

                                                                               Analysts say the crypto market has already priced in Wednesday's interest rate cut, but the Federal Reserve remains divided on an additional cut in December.                     The Federal Reserve Open Market Committee (FOMC) announced a 25 basis point interest rate cut on Wednesday, bringing the target Federal Funds rate down to 3.75%-4%.Wednesday’s rate cut was “fully priced in” by investors, who widely anticipated the decision, according to Matt Mena, a market analyst at investment company 21Shares. Mena also forecast:Asset prices remained flat or fell by modest amounts on Wednesday following the FOMC decision, with the price of Bitcoin (BTC) falling by about 2.4% at the time of writing, following Federal Reserve Chair Jerome Powell’s comments signaling that FOMC members are divided on a December rate cut. Read more