G-20 endorses global corporate minimum tax
at Rome summit
G-20 endorses global corporate minimum tax
at Rome summit
Leaders of the world’s biggest economies on Saturday endorsed a global minimum tax on corporations, a linchpin of new international tax rules aimed at blunting the edge of fiscal paradises amid skyrocketing profits of some multinational businesses. The move by the Group of 20 summit in Rome was hailed by U.S. Treasury Secretary Janet L. Yellen as benefiting American businesses and workers. G-20 finance ministers in July had already agreed on a 15% minimum tax. It awaited formal endorsement at the summit Saturday in Rome of the world’s economic powerhouses.
US agrees to roll back steel, aluminum tariffs on EU
The Biden administration announced Saturday that it had reached a deal to roll back tariffs on European steel and aluminum, an agreement that officials said would lower costs on goods such as cars and washing machines, reduce carbon emissions, and help get supply chains moving again. The deal is aimed at easing trans-Atlantic trade tensions that had worsened under former President Donald Trump, whose administration initially imposed the tariffs. Biden has made clear he wants to repair relations with the European Union, but the agreement also appears carefully devised to avoid alienating U.S. labor unions and manufacturers that have supported Biden.
Union for John Deere workers reaches tentative deal to end 2-week strike
The United Automobile Workers announced Saturday that it had reached a tentative agreement with agriculture equipment maker Deere &Co., potentially ending a strike that began in mid-October and involved about 10,000 workers. The agreement must still be approved by the union’s members. Deere workers primarily in Iowa and Illinois had gone on strike after rejecting an initial agreement with the company earlier in the month. Many workers had complained that the earlier proposed contract produced insufficient wage increases and that it denied a traditional pension to new employees, even though the company was on pace for a record of nearly $6 billion in profits this year.
Sexual assaults
are worsening a crisis at Rikers,
jail officers say
One female correction officer was attacked and choked by a man who had been convicted of sexual assault. Another, a veteran officer who had worked at the Rikers Island jail complex for more than 15 years, was groped as she escorted detainees through a crowded vestibule. New York City’s jails are facing a critical shortage of staff that is contributing to violence and lawlessness at the facilities, and officers say sexual harassment and assault by detainees are compounding the crisis. Female officers, who make up nearly half the uniformed staff at New York City’s jails, are at particularly high risk.
By wire sources
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