tv Business - News Deutsche Welle July 2, 2021 8:15am-8:31am CEST
the who's, who's terrific off. ah, ah, where i come from, we have to fly for wordpress. i was born and raised in a military dictatorship with just one tv channel and a few newspapers with official information as a journey. i have work on this trip of many campuses and their problems are always the same for to equality. and that the freedom of the press corruption on the floor to safe side. and when it comes to the defense of the human,
steven white to those who have inside from there, my name is kenny perez and i work at the w ah, the, the 15 percent. it is the best part of them efforts to keep multinational firms from dodging taxes by shifting their profits in between countries. $130.00 nations are now backing a global minimum tax or company. also coming up more oil to fuel the global recovery or keeping supply captain favor stable prices and producing nations haven't made up their minds yet. we'll get the latest from our markets, correspondence and 1st cobra and berlin. welcome to the program. $130.00 countries
have agreed to a global minimum tax on corporations of at least 15 percent as part of a broader agreement to overhaul international tax rules. just sit up and say measure i welcome this major progress, aid pay way for the construction of a new international taxation system for the 21st century. as friends has been asking for more than 4 years, then i could send them a business agreement, global and innovative one. it's the most important international tax deal in a century concluded a shake. and now we can do it in a common way and we understand that there is no chance for big companies, for instance, to avoid being taxed. so what does this deal look like? well, if widely enacted, the global minimum tax would effectively end the practice of global corporations, like starbucks, google seeking out low tax jurisdictions like ireland or the virgin islands to move
their headquarters to even though their customers operations and executives are located elsewhere. for more on this, i'm now joined by goblins hello meyer. he's the president of the keel institute for the world economy. welcome to the program. deborah. good to have you. germany finally, minister causes agreement. a colossal step. a colossal step towards tax justice is it is the story to because never before we have seen this actually be conferences and international think station issues one country decide the game. 15 percent is not colossal at all. and there will be the new rules that apply only to the biggest companies across a 1000 in the road, and they to maybe not as far reaching as one would need to call the good clock.
so what's the financial splash is the deal going to have overall it's not the very easy to say is the time we estimates the talk about something like $100000000000.00, additional tax revenues for governments around the world. but the much more complicated. how will that additional extra revenue be distributed across countries? is that 2 things will happen? one is minimum tax rate, and the other thing is the change in succession. right. and how that works out is not easy. digital copy is the roving x war where they sell their stuff. but that is also true for classical manufacturing. industries like the chimney, congress re, which all of the broad, how they're laid out is still not clear. now, 130 countries gave their thumbs up here to this initiative. but what does it mean
that a country like ireland a country like hungry as well, where the corporate tax rate is below the 15 percent that countries agree agreed upon now? didn't join the agreement. of course, the disappointing is also an issue for the european union. it shows how problematic combination of exclusion rules in europe, construction, facts, tyrique or ireland or any other attacks. he cannot really hold up the whole process because what are the finest things just haven't read that any tricity can afford that can top rates that are in both island until you reach 15 percent. so it's the hours from doing it with us. so i just will soften up to 5 points on there. so strong incentives for that. i'm actually going to go with 50 percent as well. otherwise we'll just lose tax revenues to other countries. and
deborah, briefly, if you would, will tech giant like amazon, like facebook and others be able to work around this? certainly, i mean, this is being industry around the employ a lot of clever lawyers and accountants. and certainly there will be home for them not easy to write out, but history tells us that will be low cost non this is really straightforward. and i think we can be happy that this content growth album, our president of the keel institute for the world economy. me, as always. thank you. now let's take a look at some of the other business stories making headlines. the international monetary fund is optimistic on the outlet for the us economy predicts that growth will hit 7 percent this year, much higher than previous forecast. the fastest pace in a generation on the driving growth is government spending and stimulus measures.
frenzy airport workers have begun to 5 a strike in pairs of 2 main airports. they are protesting against contract changes . they are, you will lower their pay and rode. the rice strike is expected to cause serious life delays over and busy travel weekend. now we all have to come to terms with it. in the last couple of months, indoor activities during a pandemic simply aren't a thing for everything that had to take place. so called he bought air filtration systems were used, but they weren't enough to prevent the risk of infection. now the berlin berth company a new tag, wants to remedy the situation with a new type of fogging machine. oh, finally alsa and her sister can go back to their accordion lessons. they still need to mask up and use plexiglas walls to avoid contact though the music school director knows that some students won't comply with the rules. so a new device that sprays a disinfecting dry mist might remedy the situation. kirsten yackel is waiting for
approval from the health authorities, but she's been able to convince most of the parents already. so get skipped. she skipped for pickle at 1st, but that's normal. but when they found out what it was made up, they all said, yes, that's totally okay. it sounds great case in my toy. mom, i'm at the hotel on boy, i think to him it's already testing out the devices made by the berlin based company, new tech. when guests come through the entrance, the disinfecting mist cover their skin and clothing we are by to show you, but fancy. we've been working in this field for 20 years, so the to cindy off him to be a good call. he wants to develop an effective and low cost system fall in cost and cruise to good $15.00 and he can walk in the hotel staff filled the devices which cost several $100.00 euros with a special feeling solution. then it's electrolytic li,
charged on site. could you use it that way? so it's important of course that again, feel good and they feel safe, especially when they come here for an event like this one is hosts, we have a certain responsibility. it would be a disaster for us if half the people at such an event were infected with a corona virus. one i could see and engineer you on go is still looking for the green light from the health authorities for widespread use. investors will have to wait until later today at the soonest, to find out whether opec and allies will increase production as expected, was major or producing nations fail to agree on their output strategy on thursday, extending their meeting, and they hope to find common ground later today the so called opec plus group, initially cut crude production after the pandemic, cent on prices crash, invest your prices have recovered maybe this week, reaching levels last seen 3 years ago for more or less cost over the frankfurt and our financing correspondent as respond a, as tosh why is the u e throwing
a banner in the works here? just when you thought that there was a deal at hand with the opec plus i bring to a $400000.00 barrels a day of production increase from from august. clearly you had other ideas. it feels that it is, but has making proportionally deep of got production costs than other countries. and that's why it wants to, to be allowed to increase production to reflect its increased capacity that its main concern. then it is also unhappy with the fact that this deal is being extended beyond april, december 2022. it feels that the unfair is that it is already suffering because of the current terms of this deal. it's only going to process the longer i just saw the ravia and russia, they want to increase production. so red lager is here with many of the other opec members and his allies. what's next?
well basically the dog talks go on and they may run into the weekend because there's a lot of fig. because if the dispute with you is not, is all that means that the current terms of the deed and stay in place, which means no additional battery of oil till april. and that means higher oil prices, because the supply will not be able to match the demand. and that is going to watson, the inflation. the situation will believe. that's the main concern that if the deal is actually the demands are met, then it's it. what it means is that the other countries also going to call for adjusting their quarter, and that would be more oil in the markets, funding and frank for thank you. supply bottlenecks for computer chips have left car manufacturers. assembly lines at a standstill. craftsman are unable to work on construction sites due to shortages of materials prices for those have also been skyrocketing. there's been
a lot of talk about the drivers of global supply chain crunches, but little attention has been paid to the shorter of seafarers there's a lot of work to be done at the indian port city chennai containers full of cell phones, clothing chips and car parts are waiting to be loaded, but things are quiet here. many shipped can set sail. they can't find enough sailors. countries such as singapore, china and the united arab emirates aren't allowing indian sailors to come ashore for fear of spreading. the delta vary and that means crews can't be changed out. many shipping companies have fired their indian employees with a lack of alternatives. many have looked for different jobs or have gone into business for themselves, like this shop owner and directly to pandemic, hit a sale that was pretty hard and i lost my job as a seaman 14 months ago. during that time, i had no income and it was difficult to find another job. i was turned down again
and again. now my situation is improved the low since i opened this store. nobody over. there are almost 240000 seafarers in india. 15 percent of the world sailors come from the asian country. shipping companies are eager to employ them. again. they've asked the indian government to prioritize seafarers, perfection nation. but the lack of vaccines is slowing down, the immunization of sailors, and that in turn slows down the flow of global trade. and here's a reminder of the top story we are following for you at this hour. part of never to keep multinational firms from dodging taxes by shifting their profits in between countries. $130.00 nations are now backing a global minimum tax for companies, which comes in at 15 percent. and that wraps up this edition of dw business. if you want more, go ahead and check out our website at www dot. com slash business or better yet
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