11 July

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Virgin Galactic’s Branson ready for space launch aboard rocket plane By Reuters

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By Steve Gorman LAS CRUCES, N.M. (Reuters) - British billionaire Richard Branson was due on Sunday to climb into his Virgin Galactic passenger rocket plane and soar more than 50 miles above the New Mexico desert in the vehicle's first fully crewed test flight to the edge of space. Branson, one of six Virgin Galactic Holding Inc employees strapping in for the ride, has touted the flight as a precursor to a new era of space tourism, with the company he founded poised to begin commercial operations next year. A discount travel service it is...

11 July

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Yields Recover Some Ground Ahead Of Next Week’s Auctions By Investing.com

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Dhirendra Tripathi Investing.com – Breaking an eight-day falling streak, bond yields bounced back on Friday as traders pared long positions ahead of next week’s auction of $62 billion of government debt. Spiking prices for U.S. Treasuries have sent yields to five-month lows, puzzling many experts at a time when fears of a sustained rise in inflation are still strong. Bond yields and prices are inversely related. The United States 10-Year was up 5 basis points to 1.34% while the United States 30-Year rose 6 basis points to 1.97%. The yield on the United States 5-Year, more...

11 July

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Digital boost to productivity since pandemic likely to last-BoE’s Bailey By Reuters

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LONDON (Reuters) - Bank of England Governor Andrew Bailey said he expected that an increase in productivity gains brought about by more investment in technology since the onset of the coronavirus crisis would prove to be lasting and grow. "The big question - to which of course it's too soon to provide any firm answer - is to what extent are these changes going to persist and further expand," Bailey said during a panel discussion on the sidelines of a meeting of Group of 20 policymakers. "My best guess - for what it's worth...

11 July

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China’s RRReminder that economies remain fragile By Reuters

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By Marc Jones and Tom Arnold LONDON (Reuters) -China's decision on Friday to give its economy a 1 trillion yuan ($154 billion) shot in the arm has given investors a reminder that even the largest economies are likely to need the occasional pick-me-up while the coronavirus pandemic lasts. In one of its trademark Friday night moves, the People's Bank of China (PBOC) cut its reserve requirement ratio (RRR) - the money banks have to park at the central bank for safety - by 50 basis points (bps). It is the first such step since April...

11 July

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Iran transport ministry hit by second apparent cyberattack in days By Reuters

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DUBAI (Reuters) - The website of Iran's transport ministry was taken down on Saturday by what state television said was a "cyber disruption", a day after an apparent cyberattack on the state railway company. Computer systems of the staff of the Ministry of Roads and Urban Development were the subject of the attack which resulted in the ministry's portal and sub-portal sites becoming unavailable, the TV channel reported. It didn't give any indication of who it believed could have been behind the attack and did not say if any ransom demand had been made. Train services...

11 July

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In overture to U.S., EU’s Gentiloni says G20 deal is priority on corporate tax By Reuters

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By Francesco Guarascio, Leigh Thomas and Christian Kraemer VENICE (Reuters) - The priority in corporate tax reform is to go ahead with a global G20 deal, European Economics Commissioner Paolo Gentiloni said on Saturday when asked about whether European Union's digital services levy plan may be postponed. The remark followed intense pressure on the EU executive commission from the U.S. administration to drop the EU's plan for its separate levy, while some European officials also questioned its value. "We will assess everything, but the key issue from my point of view is that what we decided...

11 July

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France pushes for 25% target for taxing multinationals’ super-profits By Reuters

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VENICE (Reuters) - Countries should be able to tax a quarter of big multinationals' profits no matter where they are earned, France proposed on Saturday at a G20 finance ministers meeting focused on overhauling the rules for cross-border corporate taxation. Key details remain to be hammered out after G20 finance chiefs formally endorsed the outline of plans that would make new rules for where multinationals get taxed and set a global minimum corporate tax rate of 15%. The emergence of digital commerce has made it possible for big tech firms to book profits in low-tax...

10 July

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Musk trial asks the $2 billion question: Who controls Tesla? By Reuters

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By Tom Hals and Sierra Jackson (Reuters) - Does Elon Musk control Tesla Inc or does Tesla control Elon Musk? More than $2 billion hinges on that question as a trial kicks off on Monday. Shareholders allege that Musk used his control of Tesla to force the company in 2016 to rescue SolarCity, saving the solar panel maker - and Musk's investment in the company - from bankruptcy. The union pension funds and asset managers leading the case want Musk to repay to Tesla the cost of the $2.6 billion deal and to disgorge the...

10 July

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All G20 members on board with tax deal – Germany’s Scholz By Reuters

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(Refiles to attach to alerts. No changes to text) VENICE (Reuters) - The G20 has made big progress on reforming business tax, with every member of the club of large economies backing a deal to stop multinationals shifting profits to low-tax havens, German Finance Minister Olaf Scholz said on Saturday. "Today, we see that all the countries that are coming together here will support this international process in finding a way to a minimum taxation," Scholz told reporters at a meeting of G20 finance ministers in Venice. Asked about plans for a European Union digital...

10 July

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Ten years on, South Sudan’s leaders say peace is way forward By Reuters

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By Denis Dumo JUBA (Reuters) -South Sudan's two most powerful politicians gave assurances on Friday that they would not lead the country back into war as they marked its 10th birthday, and Pope Francis said he would visit if they did more to maintain a fragile peace. Violence exploded in South Sudan in late 2013, two years after it seceded from Sudan, when President Salva Kiir, an ethnic Dinka, sacked vice president Riek Machar, from the rival Nuer group. The two men have signed several deals to end a war that, fuelled by long-standing ethnic tensions,...

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Virgin Galactic’s Branson ready for space launch aboard rocket plane By Reuters

Yields Recover Some Ground Ahead Of Next Week’s Auctions By Investing.com

Digital boost to productivity since pandemic likely to last-BoE’s Bailey By Reuters

China’s RRReminder that economies remain fragile By Reuters

Iran transport ministry hit by second apparent cyberattack in days By Reuters

In overture to U.S., EU’s Gentiloni says G20 deal is priority on corporate tax By Reuters

France pushes for 25% target for taxing multinationals’ super-profits By Reuters

Musk trial asks the $2 billion question: Who controls Tesla? By Reuters

All G20 members on board with tax deal – Germany’s Scholz By Reuters

Ten years on, South Sudan’s leaders say peace is way forward By Reuters

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