Group of 20 finance leaders said on Sunday that trade and geopolitical tensions have "intensified" but failed to express a pressing need to resolve them, in a final draft communique that said global growth is likely to pick up.
Group of 20 finance ministers agreed on Sunday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a final version of the bloc's communique obtained by Reuters showed.
Financial leaders of the world's biggest economies will say on Sunday that global growth is likely to pick up this year and next, but that intensified trade and geopolitical tensions were among the key downside risks, the final draft communique showed.
There's plenty of life left in the Chinese dragon, but after roaring for three decades it's certainly lost some of its puff. Markets are primed for exports from the world's second largest economy to show weakness and for investment and lending data to show Beijing's stimulus efforts in the face of a trade war with Washington are bearing some fruit.
French finance minister Bruno Le Maire on Sunday said it was necessary to preserve the alliance between Renault SA and Japan's Nissan Motor Co Ltd, which he said has benefited the French automaker with synergies and technology.
China summoned global technology companies for talks last week following last month's U.S. ban on selling technology to China's Huawei Technologies Co Ltd, two people familiar with the matter told Reuters on Sunday.
Group of 20 finance leaders said on Sunday that trade and geopolitical tensions have "intensified", raising risks to improving global growth, but they stopped short of calling for a resolution of a deepening U.S.-China trade conflict.
A highly anticipated late June meeting between U.S. President Donald Trump and Chinese President Xi Jinping has some parallels with their Buenos Aires summit last December that postponed a tariff hike, U.S. Treasury Secretary Steven Mnuchin said on Saturday.
Group of 20 finance ministers agreed on Sunday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a final communique issued by the bloc showed on Sunday.
Investors have understood the European Central Bank's latest policy message "very well", ECB policymaker Ignazio Visco said on Sunday when asked about a rise in the euro despite the possibility of new monetary easing.
Bank of Japan Governor Haruhiko Kuroda said on Sunday the Group of 20 finance leaders reaffirmed their commitment to use all policy tools if risks to their economies materialize.
A trade dispute between the United States and China could reduce global trade by 1% in the medium term, Bundesbank President Jens Weidmann said on Sunday.
Finance leaders from the world's top economies on Sunday adopted new principles to ensure countries that lend and borrow for infrastructure spending do so in a sustainable manner, a move seen as addressing concerns that China's lending practices have saddled some emerging nations with huge debt.
French Finance Minister Bruno Le Maire on Sunday said it was necessary to preserve the alliance between Renault SA and Japan's Nissan Motor Co Ltd, which he said has benefited the French automaker with synergies and technology.
U.S. Treasury Secretary Steven Mnuchin said the U.S. government's steps against Chinese telecommunications company Huawei Technologies Co Ltd are a national security issue and not related to trade.