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France Wants G20 To Adopt 25% Target For Taxing Super-Profits Of Multinationals

The meeting of the finance ministers of the G20 nations that is being held in the Italian city of Venice for focused decision making on an overhaul of the rules for cross-border corporate taxation saw France pushing its counterparts to approve granting themselves the ability of taxing at least a...

EU Banking Regulator Asks Banks To Prepare A 10-Year Climate Plan

The banking regulator of the European Union said on Wednesday that all banks in the bloc should develop and present publicly a 10 year plan that will provide details about how the banks plan to address environmental, social and governance (ESG) risks which can affect the bottom line of the banks....

M&A Boom In Canada Pushes Banks To Hire More And Pay Higher

Investment banks operating in Canada are being encouraged to increase staffing because of record breaking deal making in Canada. However to attract fresh talent, some of the firms are being forced to pay up in unique ways because of increased demand for bankers.   According to Refinitiv,...

Chocolate Traders Not Paying Farmers Living Wage Premium, Alleges Ivory Coast

The price of $400-per-tonne premium on coca beans that was designed to bring down farmer poverty as was pledged by major chocolate traders in Ivory Coast are not being paid, alleged the cocoa regulator of the country in a draft letter, according to reports citing sources with information of the...

Hopes Of Foreign Carmakers’ Indian Dream Bit By Pandemic

The brutal second wave of Covid-19 infections coupled with limited government space for providing more stimulus for spending have indicated that a recovery for the Indian car market could lag far behind China and the United States which has dented the hopes of foreign automakers of a booming Indian...

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...
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