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Overview of Top weekly news

Overview of Top weekly news

G-20 to approve a global tax agreement

The G-20 wants to approve the OECD agreement on a global minimum corporate tax. The approval should take place on July 9-10. World’s financial leaders are also calling for the completion of technical work to be done, so a framework of the two pillars can be implemented by their next meeting in October, according to Reuters. The two basic pillars of the agreement are the redistribution of profits multinational companies and the global minimum tax.

Tesla unveiled new plans in China

The electric car producer plans to build a network of charging stations in China. The American company has announced a futuristic plan to develop the longest network of charging stations along the famous Silk Road. The entire route should connect 9 cities with a length of 5 000 km, and the number of charging stations for electric vehicles should be 27. Tesla has a dominant share in the Chinese EV market and would like to strengthen it with this bold plan. This project should provide at least one charging point between 100 and 300 kilometers.

Bitcoin briefly dropped below 30 000 dollars

Analysts watched 30 000 level briefly, during Tuesday started a little bit under 30 000 level and at the end of the day jumped over this key supporting point. Crypto is struggling to reclaim its highs from earlier quarter. After Elon Musk tweets was going the price rapidly down and at the beginning of June bitcoin could be used in the Colonial Pipeline ransomware attack.

 

Amazon to buy a stake at technology start-up

E-commerce company Amazon is about to make a deal with self-driving truck technology startup, Plus. Tech giant is negotiating to acquire a 20% share and according to Bloomberg Amazon ordered from startup autonomous control systems. The American seller plans to continue with technological investments, especially in the automation of the transport of its shipments.

Watch this week:

On Thursday, General Council meeting of the ECB in Frankfurt.

On Friday, release of BoE Quarterly Bulletin which includes commentary on market developments and monetary policy operations, also reports on a range of domestic and international economic issues, market research, and market analysis.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.12% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.