G-20 members have rarely been able to agree to such ambitious changes over the past decade of disputes over trade, investment and jobs, although they did work together to offset the economic impact of the Covid-19 pandemic. The tax agreement, negotiated earlier this month by 130 countries, has raised hopes that major economies can find common approaches to tackling other global problems, such as climate change and trade.
Volkswagen Sees Global Chip Shortage Worsening in Second Half
BERLIN-Volkswagen AG warned that the global shortage of semiconductors affecting car production would worsen over the next six months, joining a chorus of auto companies that have dialed down their outlook for the rest of the year.
The warnings mark a shift for the industry after auto CEOs and industry analysts had predicted the chip crisis would bottom out in the second quarter, leading to a gradual improvement over the next six months.
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Expected Major Events for Monday
06:00/ROM: May International trade
06:00/DEN: Jun CPI
06:00/GER: Jun WPI
07:00/TUR: May Employment / Unemployment
07:00/SVK: May Employment and average monthly wage in selected branches
07:00/SVK: May Turnover in selected branches of economy, incl Industry & Construction
08:00/EU: Jun Long term interest rates statistics
09:00/MLT: May International Trade
09:00/CYP: May Foreign Trade (provisional)
10:00/FRA: May OECD Composite Leading Indicators
10:00/POR: Jun CPI
15:59/UKR: Jun CPI
15:59/UKR: Jun PPI
23:01/UK: Jun BRC-KPMG Retail Sales Monitor
All times in GMT. Powered by Kantar Media and Dow Jones.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
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