G-7 Tax Deal, ECB’s Job Treatment, Yellen on Rates: Eco Day

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Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • The G-7 secured a landmark deal that could help countries collect more taxes from big companies and enable governments to impose levies on U.S. tech giants such as Amazon Inc. and Facebook Inc.
  • When the European Central Bank unveils the results of its grand strategy review this year, there will be a stark contrast from the Federal Reserve: Inequality in the labor market looks likely to get much more subdued treatment in Frankfurt
  • U.S. Treasury Secretary Janet Yellen said President Joe Biden should push forward with his $4 trillion spending plans even if they trigger inflation and higher interest rates
  • Weeks before the government is due to fully re-open its economy, U.K. businesses are warning that the potential for a fresh wave of restrictions is a threat to their ability to reboot
  • China’s exports continued to surge in May, although at a slower pace than the previous month, fueled by strong global demand as more economies around the world opened up. Meanwhile, Chinese consumers remain cautious even though Covid-19 is under control, offering clues for global spending patterns ahead
  • Every Italian leader promises to fix the south of the country. Mario Draghi is staking his reputation on finally pulling it off
  • Central bankers around the world are mulling the future of their massive bond-buying programs in a post-pandemic world
  • ECB officials will debate this week whether to prolong their elevated pace of bond-buying, a judgment that rests on the recovery’s strength
  • A quarter of a century after declaring the death of inflation, economist Roger Bootle is seeing signs of its rebirth
  • Trade ties between the U.S. and China show a significant imbalance, and the Biden administration is committed to leveling it
  • China could use the digital yuan in a cross-border “regulatory sandbox” program to test capital account convertibility between Shenzhen and Hong Kong, according to a proposal by a senior central bank official

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