Global Tax Overhaul, French Finances, Nordic Properties: Eco Day

Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • A surprise U.S. drive to overhaul international corporate taxation promises a new era for governments to capture a bigger tax take from some of the most successful global businesses -- if only the rest of the world can agree
  • France will only gradually repair damage to its public finances from the pandemic, avoiding austerity measures that would hurt growth
  • U.K. Chancellor of the Exchequer Rishi Sunak is facing demands for an inquiry into his conduct after he “pushed” officials to consider helping Greensill Capital following a request from former Prime Minister David Cameron
  • Jerome Powell pledged to get the U.S. back to a “great economy” and invoked a homeless encampment in downtown Washington to make the point that the recovery remains incomplete. Meanwhile, applications for U.S. state unemployment insurance unexpectedly rose for a second week, underscoring an uneven jobs recovery
  • Minutes from the ECB’s March meeting suggest the front-loading of asset purchases under its emergency bond-buying program doesn’t have much further to run, according to Bloomberg Economics
  • After carrying the weight of the global economy since World War II with little fanfare, the lowly shipping pallet is finally commanding some respect
  • Italian Prime Minister Mario Draghi said he backs an extension of state protection for local businesses, after revealing that his government recently blocked a Chinese takeover of a semiconductor company
  • The Nordic property market is hotter than ever, as a growing number of international investors compete to get a foothold before it’s too late
  • China’s producer prices climbed the most since July 2018 as commodity costs surged, a worrying sign for policy makers seeking stable inflation and adding to global risks
  • The U.S. intelligence community sees an increasingly leaderless and unstable world ahead as trends such as artificial intelligence, digital currencies and climate change reshape the global arena

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.