7 chapters across the catalog
The hosts discuss the stalled Brexit negotiations and the "backstop" agreement concerning Northern Ireland. They criticize the lack of U.S. media coverage on the complexities of the UK's departure from the EU. Dvorak suggests that a "no-deal Brexit" based on World Trade Organization (WTO) rules might actually benefit the UK by bypassing EU demands.
Ursula von der Leyen State of the European Union Address
European Commission President Ursula von der Leyen delivered the State of the European Union address in Strasbourg, appearing alongside Olena Zelenska in symbolic Ukrainian colors. The speech outlined a "social market economy" vision, emphasizing a transition to a net-zero digital economy and the need for new EU-level fiscal rules.
The European Union has initiated a "rule of law" procedure against Hungary, which could result in the withholding of billions in EU funding. The move follows the re-election of Prime Minister Viktor Orbán and is based on allegations of judicial interference and the erosion of democratic norms. Critics note the timing of the procedure and the vague nature of the accusations compared to the treatment of non-member states like Ukraine.
Hollywood Reporter Aesthetics, Production Rules and Quibi Failure
The Hollywood Reporter's recent editorial choices are noted for featuring "ugly" or unglamorous photos of celebrities and producers, signaling a shift in industry aesthetics. New production rules requiring "COVID consultants" and strict union regulations have made filming increasingly difficult. Additionally, the failure of the billion-dollar short-form streaming service Quibi is cited as an example of the current instability in the entertainment sector.
In the event of a no-deal Brexit, the United Kingdom would default to World Trade Organization (WTO) rules for international commerce. Prime Minister Theresa May outlined two ways to avoid a no-deal scenario: agreeing to a deal or revoking Article 50, the latter of which would mean remaining in the European Union and ignoring the referendum result.
The Irish government has decided to appeal an EU ruling that ordered Apple to pay 13 billion euros in back taxes. Despite the potential windfall, Ireland is siding with Apple to protect its reputation as a low-tax hub for multinational corporations. The hosts note that the tax amount is roughly equivalent to Ireland's entire national medical debt.
European Competition Commissioner Margrethe Vestager issued a ruling against Apple regarding its tax arrangements in Ireland. The investigation focuses on whether Irish tax rulings allowed Apple to attribute profits to a "head office" that existed only on paper to avoid taxation. While media reports suggest a 17 billion dollar fine, the action is technically a demand for unpaid back taxes rather than a punitive fine.
