Opening Bell: The real Trump threat to Irish jobs, protection for freelancers, "Singles' Day" in China

Get up to speed with today's breaking Irish and international business news

US President-elect Donald Trump plans to reduce America's headline tax rate to encourage companies to relocate to the United States, according to his senior economic adviser.

Stephen Moore told BBC Radio 4:

"I believe that when we cut these tax rates – we're going to cut our business tax rate from roughly 35% down to roughly 15 to 20% – if you do that you are going to see a flood of companies leaving Ireland and Canada and Germany and France and they are going to come back to the United States."

Meanwhile, Finance Minister Michael Noonan has said that the election could have an effect on Ireland's next Budge as the current global situation poses a "downward risk" on the fiscal space available.

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Chambers Ireland says the Government and unions must take account of the need for Ireland to remain competitive – amid calls for fresh talks on a public pay agreement.

Chief Executive Ian Talbot has argued that Donald Trump's victory and the fallout from Brexit could potentially turn Ireland's current trade policy on its head.

He says this could have serious implications for exports, investment and ultimately jobs for many years to come.

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A bill aimed at protecting freelance workers has been passed by the Seanad.

The bill reinstates the right of voice-over actors, session musicians and freelance journalists to collectively bargain with employers.

It comes after the Competition Authority ruled that if freelancers combined to set prices it could be considered anti-competitive.

When passed, the bill will exempt these workers and reinstate their collective bargaining rights.

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"Singles' Day" takes place in China today, November 11th, a kind of anti-Valentine's Day that has proved to be massive commercial success in recent years.

Started by the country's largest ecommerce firm, Alibaba, it is now the largest online shopping day in the world.

The big discounts offered saw shoppers spend over $14bn (€12.8bn) last year alone, four times the amount spent on Black Friday or Cyber Monday.

With roughly 140,000 transactions taking place every second at peak times, 467 million delivery orders were processed across China on the day.