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German AF GAF813 Airbus A319 departed Tel Aviv- Ben Gurion Int'l Airport nw after about an 11 hour ground stop
German FM leaving
Had a depart of Koln (Luftwaffe Home Base) and stop at Berlin prior to arrival at Tel Aviv
‘Not limited to words’: German FM visits Israel; asserts its right for ‘self-defense’ amid continued conflict with Gaza
https://www.rt.com/news/524359-german-visit-israel-self-defense/
U.S. backs a 15 percent global minimum tax on big companies as it tries to enlist other countries.
The Biden administration proposed a global tax on multinational corporations of at least 15 percent in the latest round of international tax negotiations, Treasury Department officials said on Thursday, a lower-than-expected offer as the U.S. looks to reach a deal with countries that fear hiking their rates will deter investment. Treasury has been holding meetings this week with a panel of negotiators from 24 countries about the so-called global minimum tax, which would apply to global companies regardless of where they locate their headquarters. The Biden administration hopes to reach an agreement in principle with other countries this summer and is counting on the deal to help sell its plan to raise the corporate tax rate in the United States to 28 percent from 21 percent. Treasury officials said their offer was met enthusiastically and characterized it as a pivotal moment in the negotiations, which have dragged on for more than two years. The negotiations over the global minimum tax are part of a broader global fight over how to tax technology companies and come as the Biden administration is trying to fix provisions in the tax code that it says incentivizes moving jobs overseas.
As part of its American Jobs Plan, the Biden administration called for doubling the global intangible low-taxed income (or GILTI) tax to 21 percent, which would narrow the gap between what companies pay on overseas profits and what they pay on earned income in the United States. Under the plan, the tax would be calculated on a per-country basis, which would have the effect of subjecting more income earned overseas to the tax than under the current system. If the 15 percent global minimum tax rate is adopted, it would still leave a gap between that rate and the Biden administration’s proposed U.S. domestic rate. Treasury officials have argued that the new gap would be smaller than the current gap and therefore would not diminish the competitiveness of American companies.Part of the Biden administration’s ability to sell its plan, however, hinges on whether it can reach a deal with other countries on the global minimum tax so that American companies are not at a competitive disadvantage. The finance ministers from France and Germany indicated last month that they were willing to back a 21 percent global minimum tax rate. But countries will have to change their laws to formally make the agreement happen and enforcement of the deal will be complicated. Ireland, which is not a member of the steering committee undertaking the negotiations through the Organization for Economic Cooperation and Development, has a 12.5 percent corporate tax rate and has expressed reservations about such an agreement.
Treasury officials said that they never insisted on the 21 percent rate. However, they view the 15 percent level as a floor and will continue to push for a higher rate. They said they believed that other countries were receptive to the idea of adopting higher rate depending on the fate of the changes to the American tax system that are under consideration. Treasury Secretary Janet L. Yellen has warned that a global “race to the bottom” has been eating away at government revenues, and she has adopted a more collaborative approach to the negotiations than the Trump administration employed.
Ms. Yellen is expected to continue talks about international tax reform with her international counterparts at the Group of 7 finance ministers meeting next month.
https://www.nytimes.com/2021/05/20/business/economy/global-minimum-tax-corporations.html
Israeli media: Israeli Security Cabinet has approved cease-fire to end 11-day military offensive in the Gaza Strip
Israeli media: Israeli Security Cabinet has approved cease-fire to end 11-day military offensive in the Gaza Strip.
https://abcnews.go.com/International/wireStory/israeli-media-israeli-security-cabinet-approved-cease-fire-77810647
SAM288 USAF C-32A departed Kangerlussuaq Airport, Greenland sw
Blinken confirms the U.S. does not want to buy Greenland after Trump proposal
U.S. Secretary of State Antony Blinken on Thursday confirmed that the United States does not seek to buy Greenland, after then-President Donald Trump had proposed buying the island, sparking diplomatic fallout. Sitting beside Danish Foreign Minister Jeppe Kofod, Greenland’s premier, Mute Egede, and Foreign Minister Pele Broberg during a news conference, Blinken confirmed to a reporter it was “correct” that the United States does not seek to buy the country. Blinken was visiting Greenland after attending a meeting of the Arctic Council in Iceland, which he said was a signal of Washington’s desire to enhance ties with “our Arctic partners, Greenland and Denmark.” Trump and one of his economic advisers confirmed in 2019 that Trump had discussed the possibility of purchasing Greenland, the world’s largest island and an autonomous Danish territory. Danish Prime Minister Mette Frederiksen fired back at the time that Greenland was not for sale and called the suggestion “absurd.”
https://www.metro.us/blinken-confirms-the-u-s/
KAPPA77 USAFSOC C-32B departed McGuire AFB, NJ across the pond
Russia raises 1.5 bln euro in Eurobonds as market cheers U.S. talks
Russia raised 1.5 billion euros ($1.83 billion) in two Eurobond issues on Thursday, enjoying bids worth over 2.1 billion euros, as markets welcomed talks between Moscow and Washington’s top diplomats and the easing of some U.S. sanctions. Demand from Russian investors helped the finance ministry to tap the global debt market for the first time in 2021, with the country’s three largest state banks Gazprombank, Sberbank CIB and VTB Capital arranging the sale. Russia sold 1 billion euros in a new 15-year Eurobond with a yield of 2.65% and another 500 million euros in a top-up issue of 2027 Eurobond at 98.5% of its nominal prices, VTB Capital said. Investors from Russia bought 47% of the new 2036 Eurobond and 65% of the 2027 Eurobond, while the rest was purchased by investors from Austria, Germany, France and the UK, as well from the Middle East and Asia, VTB Capital said.
moar
https://www.reuters.com/article/russia-eurobond/update-4-russia-raises-1-5-bln-euro-in-eurobonds-as-market-cheers-u-s-talks-idUSL5N2N728A
takin an eye break
the latest boogeyman of course
do eet mang