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February 25, 2020
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Exclusive: U.S. sees no material impact from virus on U.S.-China trade deal – for now

Reuters
RIYADH (Reuters) – U.S. Treasury Secretary Steven Mnuchin told Reuters he does not expect the coronavirus outbreak to have a material impact on the Phase 1 U.S.-China trade deal, although that could change as more data becomes available in coming weeks. FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before......
Reuters - Business

Exclusive: If Lebanon needs financial aid, France will be there, finmin says

Reuters
RIYADH (Reuters) – France is ready to support Lebanon financially – bilaterally or multilaterally – its finance minister said on Sunday, warning against mixing economic recovery in the small Mediterranean state with U.S.-led efforts to counter Iran in the region. FILE PHOTO: French Finance and Economy Minister Bruno Le Maire......
Reuters - Business

No global digital tax by end-2020 would mean chaos: France

Reuters
RIYADH (Reuters) – Failure to reach a global deal on where and how much to tax digital giants such as Google (GOOGL.O), Amazon (AMZN.O) or Facebook (FB.O) would result in many digital tax regimes emerging all over the world, France’s Finance Minister said on Sunday. FILE PHOTO: French Finance Minister......
Reuters - Business

G20 finance heads eye impact of coronavirus outbreak on growth, see modest pickup

Reuters
RIYADH (Reuters) – Finance chiefs of the world’s top 20 economies vowed to monitor the impact of the coronavirus outbreak on global growth and act if needed, as they said loose monetary policy and easing trade tensions would prompt a pick-up in 2020 and 2021. The Group of 20 (G20)......
Reuters - Business

Japan criticizes U.S. digital tax proposal at G20

Reuters
FILE PHOTO: Japanese finance minister Taro Aso takes questions at the annual meeting of the International Monetary Fund and World Bank in Washington, U.S., Oct. 18, 2019. REUTERS/James Lawler Duggan/File Photo RIYADH (Reuters) – Japanese finance minister Taro Aso criticized on Sunday a U.S. tax reform proposal that he said......
Reuters - Business

G20 finance heads see modest growth pickup, to monitor coronavirus

Reuters
RIYADH (Reuters) – Finance leaders of the world’s top 20 economies expect economic growth to pick up modestly this year and next thanks to loose monetary policy and an easing of trade tensions, and vowed to monitor the effects of the coronavirus outbreak. U.S. Treasury Secretary Steven Mnuchin arrives for......
Reuters - Business

Exclusive: If Lebanon needs financial aid, France will be there, finance minister says

Reuters
FILE PHOTO: French Finance and Economy Minister Bruno Le Maire speaks during the G20 finance ministers and central bank governors meeting in Riyadh, Saudi Arabia, February 22, 2020. REUTERS/Ahmed Yosri RIYADH (Reuters) – France is ready to support Lebanon financially — bilaterally or multilaterally — its finance minister said on......
Reuters - Business

No global digital tax by end-2020 would mean digital tax chaos: France

Reuters
RIYADH (Reuters) – Failure to reach a global deal on where and how much to tax digital giants like Google(GOOGL.O), Amazon(AMZN.O) or Facebook(FB.O) would result in many digital tax regimes emerging all over the world, France’s Finance Minister said on Sunday. FILE PHOTO: French Finance Minister Bruno Le Maire attends......
Reuters - Business

Shifting sands of inflation unsettle top bankers at Riyadh G20 meeting

Reuters
RIYADH/WASHINGTON (Reuters) – Central bankers from the United States, Japan and the euro zone meeting in the desert kingdom of Saudi Arabia this weekend had their own shifting sands to cross – those of elusive inflation. FILE PHOTO: European Central Bank President Christine Lagarde arrives for a welcome dinner at......
Reuters - Business

G20 sees need to coordinate coronavirus response as IMF trims growth forecasts

Reuters
RIYADH (Reuters) – The world’s top economies called on Saturday for a coordinated response to the coronavirus outbreak, which the IMF predicted would lower China’s growth this year to 5.6% and shave 0.1 percentage points from global growth. FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during a news conference......
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Japan urges G20 members with fiscal scope to boost spending

Reuters
RIYADH (Reuters) – Japan called on G20 countries with fiscal space to ramp up spending to help the global economy weather risks, including the fallout from the coronavirus outbreak, Finance Minister Taro Aso said on Saturday. FILE PHOTO: Japanese Finance Minister Taro Aso takes questions from reporters at the annual......
Reuters - Business

Let’s come together to tax tech giants, say G20 officials eyeing $100 billion boost

Reuters
RIYADH (Reuters) – Leading world economies must show unity in dealing with aggressive “tax optimization” by global digital giants like Google (GOOGL.O), Amazon (AMZN.O) and Facebook (FB.O), G20 officials said on Saturday. FILE PHOTO: The Facebook logo is displayed on a mobile phone in this picture illustration taken December 2,......
Reuters - Business

France ready to hear U.S. proposal on digital tax

Reuters
French Finance and Economy Minister Bruno Le Maire speaks during the G20 finance ministers and central bank governors meeting in Riyadh, Saudi Arabia, February 22, 2020. REUTERS/Ahmed Yosri RIYADH (Reuters) – France is ready to listen to the U.S. administration’s proposal of offering U.S. companies a “safe harbor” from a......
Reuters - Business

U.S. Treasury’s Mnuchin: Tax certainty needed on global basis

Reuters
FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before the Senate Finance Committee during a hearing on the President’s FY2021 Budget on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas/File Photo/File Photo RIYADH (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to......
Reuters - Business

Global central bankers scour shopping malls, manufacturers for coronavirus playbook

Reuters
WASHINGTON/RIYADH/FRANKFURT – (Reuters) – In the days after a new virus was identified in China on Dec. 31, global central bankers fell back on past experience for a comforting early analysis. FILE PHOTO: A man wearing a face mask walks past a shop of a French luxury cosmetic brand Lancome......
Reuters - Business

Manufacturers entangled in logistical nightmare as virus-hit China limps back to work

Reuters
SHANGHAI/BANGKOK (Reuters) – Blocked highways. Stranded workers. Dwindling supplies. Shipping and air freight companies also hamstrung. FILE PHOTO: Workers wearing face masks load cargo to a truck next to containers at a railway cargo terminal, as the country is hit by an outbreak of the novel coronavirus, in Yinchuan, Ningxia......
Reuters - Business

Europe wants G20 to make taxing digital giants top priority this year

Reuters
BRUSSELS (Reuters) – Europe wants the world’s financial leaders to make it their top priority this year to reach a deal on global rules for taxing digital giants like Google (GOOGL.O), Amazon (AMZN.O) and Facebook (FB.O), a document showed. FILE PHOTO: File photo: The Google logo is seen at an......
Reuters - Business

Foxconn, Chinese firms refit production lines to make masks amid virus outbreak

Reuters
SHANGHAI (Reuters) – A number of Chinese manufacturers including a subsidiary of Apple Inc (AAPL.O) partner Foxconn (2317.TW) have refitted production lines to make masks and medical clothing, as a deadly coronavirus spreads across China. FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is......

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