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July 17, 2021

GLOBAL

One Mutation May Have Set the Coronavirus Up to Become a Global Menace

ClevelandScene
click to enlarge Courtesy University Hospitals The mutation led the virus get a stronger lock on human cells A single change in a key viral protein may have helped the coronavirus behind COVID-19 make the jump from animals to people, setting the virus on its way to becoming the scourge......

The G-20’s global crackdown could create a new kind of tax haven

CNBC
CNBC – For more and to sign up click here U.S. Treasury Secretary Janet Yellen looks on during a press conference during the G20 finance ministers and central bankers meeting in Venice, on July 11 2021. ANDREAS SOLARO | AFP | Getty Images LONDON — A landmark deal to close......

China’s Xiaomi overtakes Apple in the global smartphone market

CNBC
CNBC – For more and to sign up click here A Xiaomi logo is seen at a Xiaomi store on June 22, 2021 in Shanghai, China. Wang Gang | Visual China Group | Getty Images GUANGZHOU, China — Chinese smartphone maker Xiaomi was the second-largest smartphone maker in the second......

China’s Xiaomi overtakes Apple in the global smartphone market

CNBC
CNBC – For more and to sign up click here A Xiaomi logo is seen at a Xiaomi store on June 22, 2021 in Shanghai, China. Wang Gang | Visual China Group | Getty Images GUANGZHOU, China — Chinese smartphone maker Xiaomi was the second-largest smartphone maker in the second......

Digital bank Revolut valued at $33 billion in funding round led by SoftBank and Tiger Global

CNBC
CNBC – For more and to sign up click here Revolut’s logo displayed on a phone screen. Jakub Porzycki | NurPhoto via Getty Images LONDON — British fintech firm Revolut said Thursday it had raised $800 million in a new funding round led by SoftBank and Tiger Global. Revolut, which......

Wall Street analysts see these risks causing a ‘growth scare’ for global markets

CNBC
CNBC – For more and to sign up click here The bronze Charging Bull in the financial district of New York City. Robert Nickelsberg | Getty Images LONDON — With Covid-19 cases on the rise due to the surging delta variant and a range of macroeconomic shifts occurring, the global......

Goldman Sachs rides global dealmaking boom to smash profit estimates

Reuters
July 13 (Reuters) – Goldman Sachs Group Inc (GS.N) on Tuesday blew past analysts’ estimates for second-quarter profit as Wall Street’s biggest investment bank capitalized on record global dealmaking activity. Global mergers and acquisitions activity broke records for the second consecutive quarter this year despite slowing activity among blank-check firms......

‘This feels like 1999’: Global start-up funding frenzy fuels fears of a bubble

CNBC
CNBC – For more and to sign up click here A pile of U.S. dollar banknotes. Chris Clor | Tetra images | Getty Images In March last year, a top venture capital firm described Covid-19 as the “black swan of 2020.” “Private financings could soften significantly, as happened in 2001......

Singapore’s Temasek set to post record portfolio in global equities rally

Reuters
A Temasek logo is seen at the annual Temasek Review in Singapore July 7, 2016. REUTERS/Edgar Su SINGAPORE, July 12 (Reuters) – Singapore state investor Temasek Holdings’ portfolio value likely rebounded to scale a record in the year ending March, boosted by a rally in global markets and the public......

Janet Yellen Warns That Coronavirus Variants Threaten Global Recovery

New York Times
VENICE — Treasury Secretary Janet L. Yellen said on Sunday that she was concerned that coronavirus variants could derail the global economic recovery and called for an urgent push to deploy vaccines more rapidly around the world. Her comments, made at the conclusion of a gathering of the finance ministers......

Global Tax Overhaul Gains Steam as G20 Backs New Levies

New York Times
“For the United States, it’s going to be a fundamental shift in how we choose to compete in the world economy,” Ms. Yellen said. “Not a competition based on rock-bottom tax rates, but rather on the skills of our work force, our ability to innovate and our fundamental talents.” Policymakers......

Global Tax Overhaul Gains Steam as G20 Backs New Levies

New York Times
Absent unanimous approval among the members of the European Union, an accord would stall. Establishing a minimum tax would require an E.U. directive, and directives require backing by all 28 countries in the union. Ireland had previously hinted that they would object to or block a directive and Hungary could......

As China leaps ahead on digital currency, a top central bank group is calling for global cooperation

CNBC
CNBC – For more and to sign up click here LONDON — Top financial institutions are calling for global cooperation on central bank digital currencies. The Bank for International Settlements, the global body for central banks, issued a report Friday saying that central banks should work to achieve “interoperability” between......

A deal on global tax reform will be finalized ‘very soon,’ German finance minister says

CNBC
CNBC – For more and to sign up click here Italian Carabinieri stand guard on Piazza San Marco, a day before G20 finance ministers and central bankers meet, in Venice on July 8, 2021. ANDREAS SOLARO | AFP | Getty Images LONDON — A deal on global tax reform will......

Treasury yields bounce, easing worries about a global economic slowdown

CNBC
CNBC – For more and to sign up click here Longer-term U.S. Treasury yields bounced on Friday, easing some concerns about a global economic slowdown brought about in part because of the surprising decline in yields in recent months. The yield on the benchmark 10-year Treasury note climbed 5 basis......

BIS, IMF call for global coordination on digital cbank currencies

Reuters
LONDON, July 9 (Reuters) – The Bank for International Settlements, the International Monetary Fund and the World Bank made a joint call on Friday for global cooperation on central bank digital currencies. Around 90% of the world’s central banks are currently looking at creating digital versions of their currencies, raising......

Finance Ministers Meet in Venice to Finalize Global Tax Agreement

New York Times
VENICE, Italy — The world’s top economic leaders are convening on Friday to hash out crucial details of what would be the largest overhaul of the international tax system in a century, kicking off a three-month race to finish a deal by the end of the year. Gathering in this......

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