Indiana governor traveling to Israel during ‘hour of need’
Gov. Eric Holcomb cited business and cultural ties between Indiana and Israel for making the trip.
International Business
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U.S. proposes 15% minimum tax on global corporate profits
Competition to cut corporate tax rates has been “undermining the United States’ and other countries’ ability to raise the revenue needed to make critical investments,’’ the Treasury said in a statement
IMF upgrades forecast for 2021 global growth to record 6%
The rollout of COVID-19 vaccines and vast sums of government aid will accelerate global economic growth to a record high this year in a powerful rebound from the pandemic recession, the International Monetary Fund says in its latest forecast.
Yellen calls for minimum global corporate income tax
U.S. Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to offset any disadvantages that might arise from the Biden administration’s proposed increase in the U.S. corporate tax rate.
U.S. forges ahead on $1 billion tariff plan over digital taxes
Goods entering the U.S.—ranging from Austrian grand pianos and British merry-go-rounds to Turkish Kilim rugs and Italian anchovies—could face tariffs of as much as 25% annually.
Supply bottlenecks leave ships stranded, businesses stymied
Main Street businesses are now forced to wait months instead of the usual weeks for a delivery from China, and no one knows when the situation will be resolved.
Artificial intelligence panel urges U.S. to boost tech skills amid China’s rise
Executives from Google, Microsoft, Oracle and Amazon are among the 15 members of the National Security Commission on Artificial Intelligence, which released its final report to Congress on Monday.
Biden to order a review of U.S. supply chains for vital goods
The executive order will cover U.S. supply chains for large-capacity batteries, pharmaceuticals, critical minerals and semiconductors that power cars, phones, military equipment and other goods.
International students, workers see hope in Biden administration
For international students seeking degrees at Indiana universities and hoping either to gain employment with domestic firms or start their own U.S.-based companies, the next four years promise to be far less angst-ridden and uncertain than the previous.
Allegion hires new Carmel-based exec to lead Americas business
Luis Orbegoso, 50, joins Allegion from American Residential Services. He’ll be based in Allegion’s Carmel office and oversee the security-products company’s operations in the Americas.
Biden backs off on TikTok ban in review of Trump China moves
Separately, the Biden administration has “indefinitely” shelved a proposed U.S. takeover of TikTok, according to a Wall Street Journal report.
Biden treads carefully around Trump’s combative trade policy
In his first weeks in office, President Joe Biden has wasted no time in dumping a batch of major Trump administration policies, but his administration seems intent on approaching trade with caution and deliberation.
Keystone XL pipeline halted as Biden revokes permit
Keystone XL President Richard Prior said over 1,000 jobs, the majority unionized, will be eliminated. The premier of the oil-rich Canadian province of Alberta called the decision an “insult” and said the Canadian government should impose trade sanctions.
China economy grew in 2020 on earlier rebound from virus
China eked out 2.3% economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan and Europe struggled with rising infections.
Another judge blocks Trump’s TikTok ban; app still in limbo
The Trump administration has alleged that TikTok is a security threat because the Chinese government could spy on app users’ personal data.
U.S. trade policies likely to soften after Biden becomes president
The incoming administration is widely expected to embrace a more multinational approach to U.S. trade policy, moving away from the “America first” strategy embraced by President Trump.
Judge throws out Trump rules limiting skilled-worker visas
A federal judge on Tuesday struck down two Trump administration rules designed to drastically curtail the number of H-1B visas issued each year to skilled foreign workers.
TikTok asks court to intervene as Trump order looms
TikTok’s Chinese owner, ByteDance, has until Thursday to sell off its U.S. operations under an executive order that Trump signed in August.
Global watchdog proposes tax overhaul for Big Tech
If countries don’t all agree on the new tax rules, the Organization for Economic Cooperation and Development warned there’s a risk of a global trade war triggered by individual countries launching their own digital services taxes to help their recovery from the pandemic.
Software firm Emarsys acquired by German firm
Emarsys, a marketing software company based in Austria, has its North American headquarters in Indianapolis.