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 ...

Bloomberg China’s air force sent 28 aircraft close to Taiwan, the largest sortie this year, ratcheting up military pressure on the government in Taipei as it seeks to strengthen ties with the US. The 28 People’s Liberation Army aircraft, including 14 J-16 and six J-11 fighters, were detected in Taiwan’s southwestern air defense identification zone, Taiwan’s defense ministry said in ...