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White House says G7 leaders will endorse proposed 15% global minimum corporate tax

By Nandita Bose and Andrea Shalal WASHINGTON, June 11 (Reuters) - G7 leaders meeting in Britain will endorse U.S. President Joe Biden's proposal for global minimum tax of at least 15% on corporations, White House national security adviser Jake Sullivan said on Twitter on Friday. The U.S. Treasury in May proposed a global minimum corporate tax of at
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BIS official casts doubt on El Salvador bitcoin 'experiment'

By David Milliken and Huw Jones LONDON, June 11 (Reuters) - El Salvador's decision to make bitcoin legal tender is an "interesting experiment" with a speculative asset that does not pass the test for being a reliable means of payment, a senior global central banking official said on Friday. The central American country on Wednesday became the first
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Ireland Inc bets big multinational footprint can see off tax overhaul

By Padraic Halpin DUBLIN, June 10 (Reuters) - The parts of Ireland's economy that rely on the continued success of its multinational jobs machine are betting the deep roots some of the world's biggest companies have laid down can see off the threat of a global corporate tax overhaul. However a softening of Ireland's decades-long tax advantage will
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Bank regulators plot toughest capital rule for bitcoin

* Regulators plan first global crypto capital rule * Cryptocurrencies face toughest treatment * Central bank digital currencies excluded from plan By Huw Jones and Tom Wilson LONDON, June 10 (Reuters) - Banks must set aside enough capital to cover losses on any bitcoin holdings in full, global regulators proposed on Thursday, in a "conservative" st
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Google, Facebook pledged millions for local news. Was it enough?

By Helen Coster June 10 (Reuters) - Facing regulatory and political pressure, Facebook and Alphabet Inc’s Google in recent years committed a combined $600 million to support news outlets globally - many of them local or regional enterprises foundering in a digital age. Thousands of media outlets received financial and other support for everything
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Bank regulators plan 'conservative' capital rule for bitcoin

By Huw Jones LONDON, June 10 (Reuters) - Banks must set aside enough capital to cover losses on any bitcoin holdings in full, global banking regulators proposed on Thursday, in a "conservative" step that could prevent widescale use of the cryptocurrency by major lenders. The Basel Committee on Banking Supervision, made up of regulators from the wor
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Google loosens its search engine grip on Android devices in Europe

By Foo Yun Chee BRUSSELS, June 8 (Reuters) - Google GOOGL.O has bowed to pressure from rivals and will let them compete for free to be the default search engines on Android devices in Europe, widening a pledge to EU antitrust regulators two years ago. The move by the world's most popular internet search engine comes as the 27-country bloc considers
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Google says rival search engines can appear on Android devices in Europe for free

By Foo Yun Chee BRUSSELS, June 8 (Reuters) - Alphabet GOOGL.O unit Google has bowed to pressure from rivals and will let them compete for free to be the default search engines on Android devices in Europe, widening a pledge to EU antitrust regulators two years ago. The move by the world's most popular internet search engine comes as the 27-country
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Dollar shuffles higher, shares bask near peaks

* World stocks flush to record highs * Tesla boosted by China sales * Volatility gauges near pre-COVID levels * ECB and U.S. inflation data due on Thursday * Graphic: Global asset performance Link * Graphic: World FX rates Link By Marc Jones LONDON, June 8 (Reuters) - Markets were in their comfort zone on Tuesday, with world stocks hovering just of
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SBI union, others urge Indian cbank to scrap digital payments plan-letter

By Nupur Anand and Aditya Kalra MUMBAI, June 8 (Reuters) - A union representing India's largest state-run bank and a global alliance have asked the central bank to bar large companies from setting up payment networks, saying in a letter seen by Reuters on Tuesday that privatisation could compromise data safety. In a bid to reduce concentration risk
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Dollar shuffles higher, shares bask near peaks

By Marc Jones LONDON, June 8 (Reuters) - Markets were in consolidation mode on Tuesday, with world stocks hovering just off record highs, the dollar lifted by upcoming inflation data and the main volatility gauges all looking reassuringly calm. There was some pressure on sterling as the UK government considered whether to delay removing most of its
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Asia shares pare gains on caution, oil falls again

By Kane Wu HONG KONG, June 8 (Reuters) - Asia stocks reversed early gains on Tuesday, with traders sidelined ahead of U.S. inflation data and a European monetary policy meeting this week while oil prices lost more ground on worries over the fragile state of the global recovery. E-mini futures for the S&P 500 index ESc1 were up 0.07%, while FTSE fut
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Asia stocks open higher on record for MSCI's All-Country World Index

By Kane Wu HONG KONG, June 8 (Reuters) - Asia stocks opened higher on Tuesday, cruising in the slipstream of a record high overnight gauge of global equity markets, with investors hoping for inflation and monetary policy clues later in a week full of key central bank meetings and data points. Australia's S&P/ASX 200 .AXJO was up 0.32% at 0130GMT, w
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Google to change global advertising practices in landmark antitrust deal

* French watchdog fines U.S. tech giant $268 mln * Google says it will make changes, some globally * Watchdog says publishers could seek damages * French minister says Google 'rightly sanctioned' By Mathieu Rosemain PARIS, June 7 (Reuters) - Google GOOGL.O said it would make changes to its global advertising business to ensure it did not abuse its
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G7 tax agreement provides level playing field-UK's Sunak says

LONDON, June 5 (Reuters) - A Group of Seven agreement to commit to a global minimum corporate tax of at least 15% on a country by country basis will create a level playing field for companies around the world, British finance minister Rishi Sunak said on Saturday. He added that the need for national digital services taxes would fall away once the g
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Tech giants and tax havens targeted by historic G7 deal

* G7 agrees global minimum corporate tax of at least 15% * UK's Sunak says tax rules 'fit for the digital age' * Germany's Scholz says deal 'bad news for tax havens' * Facebook expects to pay more tax, NGOs say plans too soft By David Milliken and Kate Holton LONDON, June 5 (Reuters) - The United States, Britain and other large, rich nations reache
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What is a global minimum tax and what will it mean?

(Updates with details of G7 deal on global minimum corporate tax) By Leigh Thomas and David Lawder June 5 (Reuters) - Finance Ministers from the Group of Seven (G7) rich nations reached a landmark accord on Saturday backing the creation of a global minimum corporate tax rate of at least 15%, an agreement that could then form the basis of a worldwid
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Global equities nearly grasp all-time record, dollar drops after U.S. jobs data

* Dollar drops; Gold rebounds * Indexes: S&P rose 0.88%; Dow up 0.52%, Nasdaq gains 1.47% * U.S. nonfarm payrolls disappoints at 559,000 * Stronger reading would have prompted stimulus cut fears * * Global asset performance Link * World FX rates Link By Katanga Johnson WASHINGTON, June 4 (Reuters) - Global stocks rallied on Friday and closed near a
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Global equities climb, dollar drops as U.S. jobs data ease inflation fright

* Dollar drops; Gold rebounds * Indexes: S&P rose 0.85%; Dow up 0.44%, Nasdaq gains 1.47% * U.S. nonfarm payrolls disappoints at 559,000 * Stronger reading would have prompted stimulus cut fears * * Global asset performance Link * World FX rates Link (New throughout) By Katanga Johnson WASHINGTON, June 4 (Reuters) - Global stocks rallied on Friday
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Facebook suspends former U.S. President Trump's account for two years

June 4 (Reuters) - Facebook Inc FB.O on Friday suspended former U.S. President Donald Trump from its platform until at least January 2023 in a decision that has been watched closely for signals on how the company will treat rule-breaking world leaders in the future. The social media giant's independent oversight board in May upheld its block on Tru
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