When misfortunes multiplied during the coronavirus pandemic, observers seized on a four-letter word signaling end of days for the largest state with one-eighth the US population and 14% of its gross domestic product. “California doom: Staggering $54 billion deficit looms,” the Associated Press concluded a year ago in May. “California Is Doomed,” declared Business Insider two months earlier. ”Is California ...

As things stand, the global tax proposals recently announced by the Group of Seven’s finance ministers and endorsed at the weekend’s G-7 summit raise more questions than answers. The group’s governments say they’ve agreed on two linked initiatives — first, to set a common minimum corporate tax rate of at least 15%; second, to apportion the profits made by some ...

Bloomberg China lashed out at the US, calling the country “very ill indeed,” after President Joe Biden secured support from European allies to present a more united front against Beijing. Foreign Ministry spokesman Zhao Lijian criticised Biden’s efforts during summits of the Group of Seven and North Atlantic Treaty Organization (Nato) in recent days. The response was the latest sign ...