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Illegal distribution of newspapers and magazines resulted in losses of 22 million euros in the first half of the year alone – Economy



Illegal distribution of newspapers and magazines resulted in losses of 22 million euros in the first half of the year alone - Economy

“Illegal exchange [de jornais e revistas] had a very significant impact on bank sales in those first six months, not to mention what happened last year and is happening on social media, especially in conversational “software” such as Telegram and WhatsApp, ”said Carlos Eugenio. , executive director of Vitapress Luce.

The organization responsible for the collective management of the immanent copyright of newspapers, magazines and journalists analyzed the main Telegram groups that share newspapers and magazines and concluded that the national press in the first six months of 2021 was unable to collect more than 22 million euros in publications sold at the newsstand.

Sharing publications on these platforms “seriously harms bank sales (…) and digital subscriptions, and the € 22 million value from the beginning of the year to that date is related to the number of shares listed on the Internet.” – he stressed.

Carlos Eugenio noted that there are groups on Telegram that are growing “exponentially”, which is worrying.

“Even due to the fact that the ineffectiveness of the existing legislation and the insufficient speed that exists in the current legislation, it is obvious that it is necessary to stop illegal actions with the content that we present, namely with newspapers and magazines,” he criticizes. …

“I think someone was completely confused when, for example, we filed an injunction that needs to be quickly resolved, and for purely procedural reasons, we have been waiting for a decision from November,” he explained.

On average, 88 posts are shared daily in Telegram groups.

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“In other words, the spread is so massive and so fast that we waited from November until that date for the court to order Telegram to block these shares or do something to prevent these actions from happening, this is something that the editors of the press do not like at all,” – he stressed.

Regarding what can be done to prevent the spread of unauthorized editorial content, the chief executive said it is already being done.

“What we do on a daily basis” is to ask Telegram through the means they provide and WhatsApp whenever it detects unauthorized posts, as well as other social networks, with a request to “remove the same content”.

But “the problem is that these networks have a will of their own, are guided by their goals and have rules created by them, and for the most part, Olympic ignore our requests,” said Carlos Eugenio.

“Therefore, if we cannot, through the way they suggest that we make a request and demonstrate that it is necessary to remove this content because it is illegal, we should look at what the law gives us and try to fulfill what it gives law, we can help, ”he said.

“However, we believe that we need a law that gives us greater speed, a more effective, especially effective law that helps us to suppress illegal actions as quickly as possible, because today, as we all know, the Internet is secondly, the law does not mean that content is removed as quickly as we need it, ”said the executive director.

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In addition, situations like this lead to “consumers feel like they don’t have to pay for quality news, which is very serious,” he adds. “They think they are robbing the rich when we know that all the media in Portugal is getting poorer, ”he said.

Ultimately, he said, this practice impoverishes “the entire journalistic ecosystem” and affects democracy.

Visapress considers the Anti-Piracy Act 706, which is said to have been phased out, as important.

“We were very pleased to see Bill 706 being discussed in the specialty, which could be one way to immediately block the removal of content in a more coercive manner, but as the final balance of all efforts, we had to develop in the sense that we call platform-owned organizations.” as the so-called pirates do it repeatedly.

In other words, “we always try to get platforms to remove them at will,” he stressed.

“We were very pleased with the speed with which this bill was discussed,” but “now we understand that it seems to have stopped, stalled,” that if it is approved, “as such, it could become a guarantor of the protection of our people with very significant speed “, – says the head of Visapress.

Resolution 191/2021, published on Monday, which recommends the government to combat piracy of journalistic publications by promoting more independent and pluralistic journalism, ”essentially summarizes Visapress’s concerns.

“Even the Assembly of the Republic has already realized that the government must do something, it must pass laws, it must help the press in the fight against violence, which is a robbery that occurs daily on social networks,” he stressed.

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Not only does the media sector lose money due to the illegal distribution of editorial materials, but also the state receives less tax revenue.

Visapress estimates that the state has suffered, as more than € 1.3 million in VAT was not collected in the first half of this year.

According to Carlos Eugenio, all this also reinforces the false news, because “all this leads to the fact that at some points the entire news ecosystem is slightly distorted.” And he gave an example of what happened in the second conclusion, in which “it was in the” software “of the conversation” that there was an “indication” of the measures to be applied by the authorities, which was “false.”

In other words, “networks that in their infancy, because of what they do daily with quality newspapers and magazines, have seized the opportunity to distribute content that was not true, and this is also very disturbing,” he warned.

“We would like the government to somehow look at the resolution of the Assembly of the Republic, speed up the adoption of bill 706 as much as possible and help the press fight all the illegalities that happen on the Internet and that are becoming poorer, plus periodicals that, in turn impoverishes democracy in Portugal, ”concluded Carlos Eugeniu.

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From taxes to wages. Six CMVM Proposals to Encourage Savings – Markets



From taxes to wages.  Six CMVM Proposals to Encourage Savings - Markets

Taxation plays a central role in encouraging long-term savings. This is the conclusion of a study by the Securities Market Commission (CMVM) on the subject, which identifies six main measures highlighting the importance of encouraging the savings of Portuguese families who reduced and mostly stored in warehouses.

“Long-term saving plays a fundamental role in improving the financial security and well-being of individuals and families, as well as in financing companies and the economy as a whole. It is very difficult and often difficult, especially for families,” points out from a document published in World Investor Week.

That is why states encourage and support the formation of these savings, namely through tax incentives. Portugal is already including some of these exemptions in its tax system, but the regulator believes more are needed. Here are six measures:

1. Favorable taxation for the new “European NDP”.

The Pan-European Reform Product (PEPP), which came into force in March 2022 national regulation was promised government by the end of this year – is the goal of the first recommendation. The CMVM calls for the creation of a PEPP tax regime “in line with the government capitalization regime”.

This equalization will mean tax deductions for PEPP subscribers, tax exemption for PEPP investment portfolios, and more tax-friendly treatment of payments made by PEPP to its subscribers when they subsequently gain access to benefits.

2. European investment funds

With regard to European products, the CMVM is also considering European Union long-term investment funds (ELTIF), requiring that the tax treatment for collective investment bodies apply to both this product and credit funds, allowing their holders to benefit. from tax deferral on redemption or reimbursement in case of reinvestment.

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3. PPR style savings accounts

CMVM’s second proposal is to create individual retirement savings plans or accounts that are eligible for the Savings and Retirement Plan (PPR) regime. In other words, these would be accounts in which depositors could place their savings up to a certain amount, as well as buy and transact financial instruments on them.

4. Reformulation of the IRS collection

A reformulation and increase in the IRS collection deduction applied to long-term retirement savings products (depending on the various ways this can be done) is seen as necessary to encourage long-term savings.

5. Reinvestment of capital in deferred tax funds

Postponing the taxation of redemption or reimbursement of investment funds in case of reinvestment is also one of the measures. In the case of transfers between funds, the relevant taxation will only take place when the investor leaves the investment fund circuit and at rates that are all the more favorable the longer the investment in this circuit remains stable.

6. “Pair contributions”

In addition to taxes, CMVM also proposes the creation of programs to encourage long-term savings by establishing upfront commitments between companies and workers to save on future wage increases. According to the watchdog, these “coincident contributions” would allow deferral of repayments or refunds of taxes in the event of a reinvestment.

“Saving to achieve specific long-term goals allows families to increase their own funds to meet these expenses, reduce credit use, monthly efforts of families associated with a reduction in credit and the risk of default for the financial sector. “, he emphasizes.

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CMVM adds that the application of long-term savings in financial instruments tends to be advantageous because the return on savings applied to them tends to be higher than the return on other financial products such as bank deposits.

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Red tide in Europe. Eurozone interest rates worsen – markets in a minute



Red tide in Europe.  Eurozone interest rates worsen – markets in a minute

Natural gas extends losses after Gazprom’s supplies to Italy resume. Oil maintains uptrend

Oil has benefited from a price rally as investors anticipated the biggest cut in oil production adopted by OPEC+ since 2020.

The group will cut capacity by two million barrels a day, more than double what was originally envisaged, and the cut will help balance oil prices at a time when the global economy is expected to slow down.

“A cut of two million barrels a day shows how aggressive they want to be on prices,” said Vishnu Varatan, Asia head of economics and strategy at Mizuho Bank.

In response, West Texas Intermediate (WTI), traded in New York, has risen 9% over the past two sessions to break $86 a barrel. By 08:00 Lisbon time, WTI was at the waterline, adding a very small 0.03% to $86.55.

Brent crude, traded in London and a benchmark for the European market, rose 0.17% to $91.96 per barrel.

In turn, natural gas (TTF) prices, which reached July lows yesterday in the Amsterdam market, continued to decline this morning, falling by 1.2% to 160 euros per megawatt-hour.

Raw materials continued to fall after Gazprom announced this Wednesday that it would resume gas supplies to Italy. The Russian company “together with Italian buyers managed to find a solution” after the September regulatory changes in Austria, which made it difficult to supply gas to Italy, Gazprom said in Telegram.

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TAP orders dozens of BMWs for CEOs and top directors – Observer



TAP orders dozens of BMWs for CEOs and top directors - Observer

TAP has ordered dozens of BMW vehicles for its executives and top directors, plugin hybrids and with a market value of 52 to 65 thousand euros. The vehicles, which will begin arriving early next year, will replace the airline’s current fleet of mostly Peugeot vehicles. promoted Tuesday on CNN Portugal.

TAP justifies the purchase of “plug-in hybrid vehicles instead of current diesel ones” on “environmental reasons”, as well as “tax incentives associated with these less polluting vehicles.”

At a time when TAP is pursuing a rescue program that amounts to 3.2 billion euros from taxpayers, CNN Portugal asked the airline why it is not considering lower cost vehicles. The company responded that “the options available to directors have also begun to include the brand. premiumas it has a higher rent compared to other brands thanks to a better residual value at the end of the contract.”

CNN Portugal reports that it had access to an initial order for 79 BMW Series 5, X2 and X3 vehicles. OUR the airline guarantees the availability of 50 “units” and that “a tender was held in the market in accordance with the TAP procurement guidelines and six companies in the Portuguese market were invited to participate” whose names were not released.

TAP also said it would spend less money on rent (monthly lease payments) of new fleet vehicles compared to the old one. However, he did not say what the monthly cost of the new fleet is.


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