The global tax rate is closer than ever before.
A global deal to ensure big companies pay a minimum tax rate of at least 15% and make it harder for them to avoid taxation is set to be finalized on Friday after Ireland, Estonia and Hungary agreed to sign up, leaving a few holdouts isolated.
U.S. employment increased far less than expected in September amid a decline in government payrolls, but hiring could pick up in the months ahead as COVID-19 infections subside and people resume the search for work. The Labor Department said in its closely watched employment report on Friday that nonfarm payrolls increased by 194,000 jobs last month.
The euro zone’s economic recovery is facing frictions and imbalances that could hold it back and last beyond the end of the pandemic, European Central Bank President Christine Lagarde said on Friday. “We’re seeing rising energy prices that are affecting real income and supply chain disruptions that are holding back industrial productions,” Lagarde said in a video message.
The Canadian economy posted a monster jobs gain in September, pushing employment back to its pre-pandemic levels, and the jobless rate hit an 18-month low, Statistics Canada data indicated on Friday. Analysts said the figures showed the recovery from the COVID-19 pandemic was gaining pace but predicted the Bank of Canada would want to see sustained evidence of strength before adopting a more aggressive stance on the timing of interest rate hikes.
Japan’s wholesale prices likely hit a 13-year high in September, buoyed by lofty commodity prices, while firms’ machinery orders are expected to have risen for the second straight month in August, a Reuters poll showed on Friday.
The corporate goods price index (CGPI), which tracks the prices companies charge one another for their goods, likely rose 5.9% in September from a year ago, according to a poll of 17 economists. That would be its highest annual price gain since September 2008. The index grew 5.5% year-on-year in August.
||Google will ban digital ads bought on its platform and YouTube to appear next to online content that contradicts climate change. The ban applies to “content that contradicts the well-established scientific consensus around the existence and causes of climate change.”|
|Apple, signaling its major entertainment-industry ambitions, is significantly boosting its L.A. footprint by building two new facilities, along the border of Culver City and the City of Los Angeles, that will serve as its headquarters for the region.|
|Tesla announced the official move of its headquarters from California to Texas during its shareholder meeting.|