FirstFT: The fight to win the global tax treaty boycott


Good morning.This article is our live version FirstFT Asia communication. Register here Send the newsletter directly to your inbox every working day morning

Negotiators in Paris are trying to persuade insistent countries to sign a Global Corporate Tax Agreement This week, they are increasingly worried that the compromise needed for countries to join will weaken the final agreement.

China, India, Eastern European countries and developing countries have all raised objections to the agreement reached by the G7 major economic group this month. The OECD negotiations are seeking to find some exceptions for them to join.

According to some sources, it is widely expected that tax havens and investment centers such as Ireland, Switzerland and Barbados will refuse to sign the agreement.

The finance ministers of the G20 group of countries will discuss the details of these proposals at a summit in Venice next month. Those who understand this process have greater hopes of reaching an agreement, especially hope that China will agree to participate, but warn that time is running out.

Five stories in the news

1. Declan Kelly resigns as CEO of Teneo Many influential advisors to Fortune 500 CEOs have resigned as heads of communications companies Tenio. Five days after the British Financial Times disclosed that Kelly had inappropriately contacted many women without their consent, he withdrew. Vax Live Concert for Global Citizens May 2 in California.

2. U.S. housing prices are rising at the fastest rate in more than 30 years U.S. house price growth As strong housing demand continues to be affected by the shortage of residential properties, growth accelerated in April at the fastest rate in more than 30 years. Data on Tuesday showed that the Standard & Poor’s Case-Shiller National Housing Price Index, which covers all nine population census departments in the United States, rose 14.6% year-on-year in April.

3. Father and son apologize for helping Ghosn escape Michael TaylorThe 60-year-old former US green beret has apologized to Japan for planning Carlos Ghosn’s meticulous escape to Lebanon, saying he acted out of sympathy for the former Nissan chairman after hearing his “psychological torture” claim. His son Peter had a similar apology.

4. The former top prosecutor of South Korea starts running for president Yin Xiru Become a popular opposition figure after resigning in March after clashed with President Moon Jae-in Reform of the judicial systemHis campaign to become the president of Asia’s fourth-largest economy will focus on dissatisfaction with rising inequality and accusations of corruption.

5. The Supreme Court of South Africa orders Jacob Zuma to jail South African Supreme Court sentenced former President Jacob Zuma 15 months in jail Participated in the investigation of corruption allegations during his presidency for contempt of court orders. Zuma must surrender to the police within five days.

Coronavirus Digest

  • India Officially recognized Modern vaccine As the fourth dose of its emergency use, to strengthen its vaccination activities after the devastating second wave.

  • Countries Asia-Pacific Going to Back to locked state To counter the spread of Delta variants.

  • city GuangzhouReceived many Chinese tourists during the pandemic Quarantine Hotel Near the airport.

  • United Airlines 270 jets have been ordered, The largest in airline history, Betting on the recovery of quality travel after the pandemic.

  • This United Kingdom Yes Provide coronavirus vaccine Before the UN Climate Summit in Glasgow in November, there were thousands of representatives from nearly 200 countries. (“Financial Times”, “New York Times”)

For the latest coronavirus news, please follow our Live blog with Sign up For us Coronavirus business update communication.

the day before

Didi goes public in New York Ride-hailing apps in China Didi Will start trading on the New York Stock Exchange on Wednesday After beating Uber and dominating the streets of the country’s major cities, concerns about growth and regulation are coming. (UK “Financial Times”, Reuters)

Segment’s contribution to the group’s total sales (%) histogram shows Didi’s revenue breakdown

U.S.-Taiwan trade negotiations Taiwan and the United States will discuss Supply chain security The first trade negotiations with Digital Trade in five years will begin on Wednesday. Faced with increasingly strained relations with China, these countries are seeking to deepen economic ties. Learn about the latest developments in global trade Sign up For us Trade secret communication.

Eurozone inflation data The data scheduled for release on Wednesday is expected to drop slightly from 2% in May to 1.9% in June.ECB goals inflation Slightly less than 2%.

Joined senior sports leaders on July 15th because they discuss The non-American football ecosystem can provide opportunities for talent development and its significance to the future of global sports.

What are we still reading

What is fueling China’s new cyber nationalists In recent years, Chinese nationalist sentiment has become more prominent online, especially on the Internet. WeiboOnce an outsider, such as an American politician who criticized the government, he was the most severely attacked by bloggers. Insiders now bear the brunt.

Deflation trading relieves big-name hedge funds Earlier this year, shorting the price of US government bonds was a successful game.But the recent turmoil and the specter of policy turn U.S. Federal Reserve Serious doubts about whether investors should continue trading.

  • View: Should the central bank take some measures against inequality, and if so, what should it do? This has become a hot topic, Martin Wolf writesBut the necessary structural reforms will be more difficult than many economists imagine.

Iran’s hardliners weigh social freedom for stability Citizen disobedience is spreading in Iranian society. If the division between the people and leaders continues to expand and the economy languishes, the regime’s greatest fear may become a reality: The outbreak of social unrest It is similar to the overthrow of the last king in 1979 and letting the clergy come to power.

Taiwan’s unification broke under the impact of China’s false information Experts say that China’s information warfare targets have increased sharply Taiwan Kathrin Hille writes that since the beginning of the pandemic last year, but with the recent increase in infections and deaths, these attacks have become stinging.

Long live the (reconfigured) office I don’t think I’m the only one who has discovered certain elements that I can do more efficiently at home-this fact tells us something important 21st Century Office Design. The pandemic gives us a chance to start again, Sarah O’Connor wrote.

Health and fitness

FT Globetrotter has been launched A new series, To help readers explore big cities by bike.Columnist Simon Kuper shares his travel skills French capital, And Asian technology journalist Mercedes Ruhr revealed Singapore’s four Most scenic bike paths.

Thank you for reading.Send your suggestions and feedback to [email protected]

Newsletter recommended for you

Swamp notes — Expert insights into the intersection of money and power in American politics.registered Here

Trade secrets — A must-read book on the changing face of international trade and globalization.registered Here



Source link