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UK Wants City Of London Be Exempt From G7 Global Tax Plan: Reports

Britain is trying to get an exemption for the City of London from a proposed new global minimum corporation tax system that was adopted by the Group of Seven (G7) economies during last weekend, claimed a report published by the Financial Times reported.   Arguing that the proposed new...

12 Year Fastest Growth In China’s Factory Gate Prices Which Adds To Global Inflation Pressures

The pace of rise of factory gate prices in the month of May in China was the fastest in 12 years because of a surge in commodity prices which added on to the global price pressures even as policy makers are trying to reignite growth of economies from the  Covid-19 induced slump.   There...

Covid-19 Audit At Renault-Nissan Plant Ordered By An Indian Court

An inspection by officials about the coronavirus-related safety protocols at Renault-Nissan's Tamil Nadu, India car plant was ordered by an Indian court on Monday. Workers at the plant are currently on a strike protesting against alleged non-maintenance of social distancing rules during a massive...

Amid Workers’ Protests Over Covid-19 Risk, Carmakers Allowed To Operate In ‘India’s Detroit’

Even as workers at factories of car makers in the Indian automobile hub of Chennai continued to protest over fears of them being infected by Covid-19 in a state of the country which has been hit specifically hard in the second wave of the pandemic, the local government there allowed the factories...

International Funding For Coal Agreed To Be Stopped By G7 Countries

By the end of the current year, international financing of coal projects that emit carbon has agreed to be stopped by the seven largest advanced economies of the world, along with phasing out of such financial support for all fossil fuels. These measures have been taken to meet the globally agreed...

Saudi Aramco’s First Quarter Profits Beats Estimates With Rebound Of Oil Prices

Strong oil prices helped the state controlled Saudi Arabian oil producer Aramco to report a 30 per cent year on year in net profits – beating estimates of analysts, while also maintaining its dividend payout on Tuesday.   There has been a rise in oil prices globally this year about one third...

Biden Tax Plans Hit Crypto Assets With Bitcoin Dropping Below $50,000

Concerns about a fall in investments in digital assets because of the plans of the United States President Joe Biden to raise capital gains taxes led to a sharp drop in the prices of bitcoin and other crypto currencies.   This drop in crypto currencies was preceded by reports about plans of...

US Auto Body Seeks Government Aid In Combating Chip Shortage Issue

While issuing a warning that the global shortage of semiconductor chips could result in auto companies in the United States facing the threat of manufacturing 1.28 million fewer vehicles this year and production of vehicles being disrupted for another six months, an auto industry group of the...

US SEC’s Move To Implement Law Top Delist Foreign Firms Causes Slump In Chinese Tech Stocks

Following the United States securities regulator adopting measures that paves the way to begin the process of delisting foreign companies from American stock exchanges, if they are unable to comply with US auditing standards, there was a sharp drop in the stocks of dual-listed Chinese companies in...

China's Baidu to raise $3.1 billion from Hong Kong listing: Sources

The Chinese search engine giant Baidu is reportedly planning to get itself listed and has set a target of raising $3.08 billion from the stock market and has set a price of HK$252 ($32.45) for each share. The company plans to list itself for public trading in Hong Kong through a secondary listing,...

India To Bring In New Bill To Make Even Possessing Cryptocurrency Illegal

A new law to ban cryptocurrencies with fines for anyone found trading in the country or even possessing such digital currencies, according to local reports quoting a senior government official. This could be a major blow to millions of investors who are eying to invest in the asset that is...

Following Brexit, London Displaced By Amsterdam As Europe's Top Stocks Centre

Following the exit of the Britain from the European Union at the beginning of the year, London has been replaced by Amsterdam as the biggest share trading centre of Europe. According to data published on Thursday, Amsterdam benefitted from a chunk of UK derivatives business during and after Brexit....
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