Saudi Prince Alwaleed bin Talal optimistic about Twitter investment: CNBC

RIYADH (Reuters) – Saudi Prince Alwaleed bin Talal, who owns investment firm Kingdom Holding, said in an interview with CNBC on Monday that he was optimistic about his investment in Twitter.

FILE PHOTO: Saudi Arabian Prince Al-Waleed bin Talal arrives at the Elysee palace in Paris, France, to attend a meeting with French President, September 8 , 2016. REUTERS/Philippe Wojazer

“It’s not going to be easy because they face some difficulties, but our entry point was very reasonable, so right now it’s holding on a breakeven point,” he said.

Reporting by Katie Paul; Editing by David Goodman

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Netflix fends off criticism over Canada investment

(Reuters) – Netflix Inc (NFLX.O) said on Tuesday it had received formal approval to set up a C$ 500 million production unit in Canada and sought to quell talk it had sought special tax benefits for investing in its first such unit outside the United States.

The maker of Emmy winning shows like The Crown and Black Mirror last month announced the agreement with the Canadian government of an investment spread over a minimum of five years. (bit.ly/2k4cBWh)

The company has since faced criticism in Canada that it does not pay taxes there. (bit.ly/2wLo4Ma)

On a blogpost, Netflix said its Canadian investment was approved under the Investment Canada Act, and that no tax deals were part of the approval to launch our new Canadian presence. But is also said it was not paying sales tax in line with existing Canadian legislation.

“Netflix follows tax laws everywhere we operate. Under Canadian law, foreign online services like Netflix aren’t required to collect and remit sales tax,” the company said.

Reporting by Nivedita Bhattacharjee; editing by Patrick Graham

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