FirstFT: Reach a historic global corporate taxation agreement

FirstFT: Reach a historic global corporate taxation agreement



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

What is your understanding of the news this week?Take our test.
The world’s major economies signed a plan to force multinational companies to pay The lowest corporate tax rate in the world After intense negotiations at the Paris OECD, it has increased by at least 15%.

Historic agreements reached between 130 countries/regions will ensure that the largest companies, including large technology companies, pay at least $100 billion in additional taxes each year, with more money going to the countries where they do most of their business. The OECD stated that these rules should be formulated next year and implemented in 2023.

Only 9 of the 139 countries participating in the negotiations refused to sign, including Ireland, Estonia and Hungary. After lobbying by the United States, all major G20 countries supported the plan.

Five stories in the news

1. Xi Jinping issued a warning to foreign opponents on the centenary birthday of the Chinese Communist Party Xi Jinping commemorates the centenary of the founding of the party Chinese Communist PartyA nationalist speech in Beijing on Thursday warned that any violation of national sovereignty would be obstructed by the “Steel Great Wall.” For more information on the significance of the centennial, please read our Q&A with James Kynge, Global China Editor of the Financial Times.

2. Trump Organization and executives charged with fraud Donald Trump’s family business and its long-term chief financial officer Allen Weisselberg have been Charged with criminal fraud Was sued by the New York prosecutor for allegedly failing to pay taxes on certain employee allowances. Prosecutors made these allegations public in Manhattan on Thursday, marking a decisive turning point in the investigation of the past three years.

3. Robinhood IPO has a target valuation of at least US$40 billion The goal of online brokers related to the surge in retail investor day trading is Valuation of 40 billion U.S. dollars or more People familiar with the matter said that in the initial public offering, the company issued a fund-raising prospectus on Thursday.

4. Nissan will build a battery plant in the UK In the 1 billion pound Sunderland plan Japan Automobile Group plan As part of a £1 billion electricity investment, to provide protection for a large battery factory, which will ensure the future of the car factory in Northeast England, beyond the UK’s 2030 ban on the sale of gasoline and diesel.

5. U.S. Supreme Court supports Arizona law in voting rights challenge
In the 6-3 decision, the Supreme Court judge Support two voting laws in Arizona Opponents say it discriminates against ethnic minorities. The decision may make it more difficult to challenge the voting restrictions that are being enacted by states in the United States.

Coronavirus Digest

  • Phuket, the largest tourist island Thailand, it has started Pilot program Foreign tourists who receive vaccinations without forcing them to quarantine.

  • Indonesia set as Tightening distance measures To deal with a record number of Covid-19 cases, as experts warned that the country is on the verge of “disaster”.

  • Japanese business sentiment Has risen to it Strongest level Since the last quarter of 2018, as the global economy rebounded from the pandemic.

  • Digital nomadic lifestyle It looks enviable-but what kind of person you really become”Position-independent“In a pandemic?

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

the day before

OPEC’s decision As oil prices climb to their highest levels in the past three years, Saudi Arabia and Russia are working to reach an agreement to cautiously release more oil to the oil market in the coming months, but officials postponed the final decision on supply policy until Friday.

UEFA Euro 2020 quarter-finals Thanks to the duo of Jorginho and Marco Verratti, Italy started Quarter-finals on friday The match against Belgium is the favorite. Follow all of our reports on Euro 2020 Here And register Scoreboard Get weekly updates on sports business.

U.S. Employment Report Wall Street stocks fluctuated between a modest rise and a fall on Thursday as investors struggled to predict the Fed’s next move Today’s key employment data.

What are we still reading

How Teneo’s Dark Artists Get Out of Control Declan Kelly founded the world’s premier CEO consulting company, but failed to survive his reputation crisis. In just six months, Tenio Encountered two crises, both co-founders lost their jobs and doubted the future of the consulting company.

Amartya Sen’s “House of the World”-Citizens from all over the world Economist and human rights activist Talk to Edward Luce of the Financial Times About his new book, his early life and his long struggle for a fairer world. At the age of 87, Sen’s mind is still as sharp as he was when he won the Nobel Prize in Economics in 1998. But his body is painfully weak.

The recruitment process is turning into a “Hunger Game” For a long time, we have always thought that finding a job is a full-time job in itself, but some companies are taking it to a whole new level, which lasts for several months, and often see job applicants appearing in apparitions or hanging out for weeks. Elizabeth Uviebinene wrote.

The EU’s biomass dilemma The review of the group’s climate legislation is a less subtle reminder that if biomass, combustible particles burn as an energy source changes, it May be impossible for the EU To achieve the goal of renewable energy, provide one-third of its energy use by 2030, and force it to face the question: Are burning trees always green?

Q&A: The 100th Anniversary of the Communist Party of China

On the 100th anniversary of the founding of the Communist Party of China, James Kynge, the Global China Editor of the Financial Times in the United Kingdom, wrote an article about the long-term struggle of the Chinese Communist Party. Balance growth and stability. We asked him a few questions about the significance of the centenary.

The screen on Tiananmen Square in Beijing shows a speech by President Xi Jinping at a celebration celebrating the founding of the Chinese Communist Party © Wang Zhao/AFP via Getty Images

The screen on Tiananmen Square in Beijing shows a speech by President Xi Jinping at a celebration celebrating the founding of the Chinese Communist Party © Wang Zhao/AFP via Getty Images

What is the significance of the 100th anniversary of the founding of the party by Chairman Xi Jinping?
For Xi Jinping personally, this represents a public affirmation of his rule and the rule of the Chinese Communist Party (CCP) under his leadership. These set-pieces may seem blunt in the West, but they perform very well in China. The large-scale military parade to celebrate the 70th anniversary of the founding of the People’s Republic of China held in the center of Beijing in 2019 was warmly welcomed by Chinese at home and abroad, with a sense of sincere pride in their hearts.

How does Xi Jinping use the centennial commemoration to shape China’s image at home and abroad?
Contempt. Nationalism. pride. These are the touchstones that Xi Jinping knows will arouse the emotions of the crowd, and are the touchstones of his speech in Tiananmen Square on Thursday. He warned foreigners that any violation of China’s sovereignty will be sanctioned. “The Great Wall of Steel”He added that China will not tolerate “honorable preaching” from outsiders. He said that the reunification of Taiwan remains an “unshakable commitment” of the CCP.

What is the biggest challenge facing CPP in the next 100 years?
An obvious challenge will be the successor to Xi Jinping. He showed no signs of cultivating a successor, and removed the presidential term limit, allowing himself to remain in power until his death. Another challenge will be to realize China’s territorial ambitions-to take over Taiwan by force if necessary-and to strengthen its claims over most of the South China Sea and a series of disputed territories. Suppressing freedom of speech in the middle class of 400 million people also requires continued attention.

Read more of our China report Fortis.

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

More to explorer

Understanding Key Factors in Accidents

[ad_1] Pedestrian Safety Statistics Pedestrian safety is an urgent concern worldwide, with over 1.3 million people dying in traffic accidents annually. Pedestrians