went on to estonia. met with leadership there, a former president, the current prime minister, other leaders, and also we had a chance to travel to the very eastern most part of estonia. and actually travel on the narva river and look on to russia and the security guards there understanding what our estonia allies are up against with putin's russia staring right across the river at their freedom and democracy. from there we joined the three c's conference in bulgaria, and i can tell you, this is a group of eastern european former soviet block countries who are striving to be in charge of their own infrastructure and rely less on the chinese road initiative. i think the fact that 12 americans showed up, participated, met with heads of state at that conference made a very strong statement of american support for freedom and for looking westwardly in trying to get their problems solved and their infrastructure needs met. and we also had a very meaningful visit to norway where we saw some american-noor wedgi

well, but we don't model still look at my own country estonia. if i look back 30 or 25 years, and if i think about the stone today, i still think that it has been a great achievement of europe that they took estonia and, and we managed to showing. and if you look at all the changes, but of course it takes time because all what happened with this particular countries in eastern europe, they didn't happen within a couple of years. they happened within half a century, 50 years of hope to say wrong history. and now to imagine that they were to think can be fixed within a couple of years. well, it's illusion, but it didn't happen, but it will take time misapplied. how worried you about the news this week? the parties of the far right have formed an alliance against brussel, saying they'll fight for what they call national sovereignty and tried to prevent a european state be 16 poppies from 15 countries in the european union, in a direct challenge to the rows that they signed up to when they exceeded to the european union, that's hardly progress. is it

well, but with all mother stay, look at my own country. estonia. if i look back 30 or 25 years, and if i think about the stone it today, i still think that it has been was a great achievement of europe that they took estonia and, and we managed to showing. and if you look at all the changes, but of course it takes time because all what happened with this particular countries in eastern europe, they didn't happen that we didn't couple of years. they happened within half a century. 50 years of hope to say wrong key story. now to imagine that they were to think and they fixed within a couple of years. well, it's illusion, but it will happen, but it will take time mister pied. how worried are you about the news this week? the parties of the far right to formed an alliance against brussel, saying they'll fight for what they call national sovereignty and tried to prevent a european state be 16 parties from 15 countries in the european union, in a direct challenge to the rows that they signed up to when they exceeded to the european union, that's hardly p

the fin one thursdays events in estonia. never went to folder over a 100 days authentic hero quiz. that's where we'll leave it for most sports news later. our thank you very much for the 3rd. thank you for it. here on al jazeera, i'm back with you after the break with more ah, capturing a moment in time. snapshots of the lives of the stories in providing a glimpse into someone else as well. we what god, we quit, we be a bite. go to inspire in documentaries, from impassioned filmmakers. i am the voice of the witness on al jazeera, the going to raise the conservation of bringing nature and people together to work with what like to my passion. my job is linking between the content and what you need in the epic and you need to find a bump or do we have to teach the community living with one lives? it's excellent. las limbo, grinding with ellia. my son, bob boy, on out there in each and every one of us have got a responsibility to change our patients for the better the we or we could do this experiment and any of us could increase in just a little bit that wouldn't be worth doing anybod

well, but we don't model still look at my own country estonia. if i look back 30 or 25 years, and if i think about the stone it today, i still think that it has been was a great, but she meant the europe that they took estonia and, and we managed to showing and. and if you look at all the changes, but of course it takes time because all what happened with this particular countries in eastern europe, they didn't happen within a couple of years. they happened within half a century. 50 years of how to say wrong history. now to imagine that they were to think can be fixed within a couple of years. well, it's illusion, but it will happen, but it will take time. mr. pied. how worried are you about the news this week? the parties of the far right have formed an alliance against brussel, saying they'll fight for what they call national sovereignty and tried to prevent a european state. these 16 poppies from 15 countries in the european union, in a direct challenge to the rows that they signed up to when they exceeded to the european union. that's hardly

and we'll finish off with some pictures from the opening shakedown of the rally estonia. this is toyota's come. robin para, the fin one says these events in estonia, it was a marrow when $24.00 of them pay to the aged out $100.00 days off tack. that was fulton ball coming up again later. peter pizza, thanks very much. when we come back on the other side of the she'll break, we'll have 30 minutes of al jazeera. well news, i will see you very soon. bye bye. the me. in. ah, ah. ah, escaping oh, finding a new identity. confronting the reality of racism, religion and the struggle to be accepted, al jazeera, tells the story of what it is like to be lebanese, and call us trailer home. once upon a time and punch bowl on al jazeera, a mineral central to the quest for clean energy, a key ingredient for the production of electric car batteries, cobalt extracting. this is dangerous, profitable, with global demand that the skyrocket. people in power investigates, claims that industrial mines contracting the precious material needed for cleaner energy, are in fact, poisoning the enviro

en estonia hay un autobÚs que utiliza hidrÓgeno para funcionar, y puede ser monitoreado desde un controlrÁn que hacer cambios en su funcionamiento. para la compaÑÍa amazan el presidente ejecutivo decidiÓ dejar su puesto, esto ocurriÓ a 27 aÑos que bezos creÓ esta empresa, recordemos que su fortuna oscila en 197 mil millones de dÓlares. la costa este en nueva york las autoridades le rinden tributo a los trabajadores esenciales. vamos al reporte. >>> me siento emocionado. >>> y es porque ella estarÁ presente en el desfile de los hÉroes este miÉrcoles en que la ciudad de nueva york le rinde tributo a los trabajadores esenciales. >>> mi primera reacciÓn fue por quÉ, hay muchas como yo. >>> tiene razÓn, ella es personal mÉdico que arriesgÓ su vida para salvar a los pacientes en la crisis de salud del covid-19. stieno que recorrimos un largo camino, ahora es muy satisfactorio ver que estamos superando la pandemia y me siento agradecida por este recoconocimiento, dijo este mÉdico. el recordido del camino de los hÉroes lo harÁn estos trabajadores esenciales y miles de personas mÁs, se espera que

but so far, islands hungry and estonia are resisting it. there are protests against the g 20 in venice to should a minimum tax agreement be reached there? the pressure on those who don't pay would only increase. i'm not joined by abuse band that he got who is in venice at a g 20 meeting at band. why this agreement now but the d 20 countries need money after the cobra prize. it's said they want to generate up to 150000000000 years more revenue per year. they have to see if the estimates are correct. but anyway, that's the window of opportunity to do it now, because agenda jelena, the new us finance minister is also pushing for this now. and she's setting on betting on international corporation. now this is your, the trumpet and ministration didn't do that. and also there's an appetite to design and new text system for the digital age to get out money from google and other internet. so what will this mean for developing countries that might one to attract more investments with low taxes? while tax havens in developing countries have come, hav

you remember states ireland hungry and estonia have not, not signed off on this a tax agreement. however, for it to come into effect, it needs to be unanimous, the backing in the e. u. so how are these countries going to be made to total line? in fact, they can also start without either and hungry that you have not to agree in. and honestly, because taxation is called responsibility for every country. and the d. 20 can start also without these countries. and the calculation here is that the small countries will have to follow sooner or later because they cannot stem themselves against 80 percent of the of the both population which is represented in g 20. and these texts havens have to come up with a different business model. now, there is not go out of business, but they have to, to think about other means to, to, to encourage countries to come to their shows and build up their business there. so it's built in the end not depend on the small countries, but the more big question is with the us, be able to push this through because president bide is facing fears a position against

well, but with all mother stay, look at my own country, estonia. if i look back 30 or 25 years, and if i think about the stone today, i still think that it has been a great achievement of europe that well, they took estonia and, and we managed to showing. and if you look at all the changes, but of course it takes time because all what happened with these particular countries in eastern europe, they didn't happen within a couple of years. they happened to within half a century, 50 years of how to say wrong history. and now to imagine that they were to think can be fixed with a couple of years. well, it's illusion, but it will happen, but it will take time. mr. pied how worried you about the news this week. the parties of the far right of formed an alliance against brussels, saying they'll fight for what they call national sovereignty and tried to prevent a european state visa, 16 parties from 15 countries in the european union, in a direct challenge to the rules that they signed up to when they exceeded to the european union, that's hardly progress.

fully satisfied inside the car" after ending the day in fifth overall after nine stages of rally estoniayota team—mate kalle rovanpera. sir mo farah has said he believes online racist abuse towards black sportsmen and women is getting worse and he's calling for social media companies to take more action. the four—time olympic champion was speaking to the bbc�*s victoria derbyshire, during which, he also revelealed he's not ready to retire yet, despite failing to be selected for the olympics and fracturing his foot. cheering sir mo farah has won multiple medals in the 5000 and 10,000 metres, and now he wants to give his support to england's footballers who were racially abused. it’s england's footballers who were racially abused.— racially abused. it's really important _ racially abused. it's really important for _ racially abused. it's really important for myself - racially abused. it's really important for myself to i racially abused. it's really i important for myself to show racially abused. it's really _ important for myself to show support throughout the world and for black people.

well, but with all mother stay, look at my own country, estonia. if i look back 30 or 25 years, and if i think about the stone it today, i still think that it has been was a great achievement of europe that well, they took estonia and, and we managed to showing. and if you look at all the changes, but of course it takes time because all what happened with these particular countries in eastern europe, they didn't happen within a couple of years. they happened within half a century. 50 years of how to say wrong history. now to imagine that they were to think and they fixed within a couple of years. well, it's illusion, but it will happen, but it will take time. mr. pie, how worried you about the news this week? the parties of the far right of formed an alliance against brussels, saying they'll fight for what they call national sovereignty and tried to prevent a european state. these 16 parties from 15 countries in the european union, in a direct challenge to the rules that they signed up to when they exceeded to the european union. that's hardly prog

the european union wants a similar tax treaty across the holy you, but so far, ireland, hungary and estonia are resisting, it's an enjoy. now by the w baron to rigor who is covering the g 20 meeting a for us in venice, branch of global tax reform has been under negotiation for years. how have they found the political will to strike disagreements now? well, the pandemic had actually, because all g 20 countries need money to pay the cost of the pandemic and the aftermath. and there was also a window of opportunity now because the new administration in the u. s. is supporting this, you would text ideas and janet jones, the new minister of finance minutes of the as was the driving force behind this effort. and also the countries have decided that they need a new system for the digital age to get hold of the internet. companies and so for someone who is watching from home, can you help us understand a little better what the actual implications of this reform will be? well, big companies with a turnover of more than 20000000000 years a year, which are highly profitable. they will not be able to s

we extend doc regulations to the distinguished permit representative of estonia for remarkable with the presidency of the council last month. and i would also like to thank the distinguished members of the council and friends in particular for having accepted the request as to organize this meeting on with the grand ethiopia when they sent them. which is of great importance to my country. and it, when i'm it underscores the interest of the security council to the partnership with african unit to promote international peace and security, both in africa and across the world. i also thank mister on behalf and miss understanding before the enlightening briefing. yeah. but then some of heidi, but i thank for preventative, off the d. c. in addition, speaking on behalf of the chair of the african union, unless you would also like to thank all members of the council for their statement and the exchange and sharing of experiences with you on the functioning and filling of them with the. i would also like to pay tribute to my colleagues, his excellency, the gyptian, foreign affairs minister was d

we've had a heat wave warning across finland as well as estonia, latvia and lithuania and western areas of russia. that heat does continue to build . it's down in the south, around the black sea that we are seeing another swirling weather system, dumping rain on ukraine. and if we take a look closely at the east mediterranean, we think some of the weather weather approaching northern areas of turkey. but we have got a wind warning over grease and cypress, where we've had those forest fires continue the can.

a warnings. latvia is also declared heat wave and estonia and when you're continuing to see those hot and dry conditions. but to the west, we have got that wet and windy weather brought in by those weather systems. the storms and showers continue for the british isles as well as for areas of france and brisk winds blowing into the west coast there. and by the time we get into choose day, it'll be switzerland and northern areas of if you that see those severe storms, but for the south, the barian peninsula, seeing a lot of sunshine coming through temperature is continuing to rise. this was a heat wave in seville, people enjoying that sunny weather. and we are expecting temperatures to continue to climb, particularly across valencia and alex guntee. mercy has seen the temperature hit up into 45 degrees. and as we move over to north africa, the hot dry conditions continue that weather, the weather bag, energy and change to every part of our universe. or small to continue the change all around the shape by technology and human ingenuity. we can make it work for you and your business. ah a

i think i think it's hungry and estonia, they haven't signed on because they have lower corporate tax rate. so what's gonna happen? nigeria also, i believe, and also think couple of the company countries. so only $130.00 of signed on. so water corporation is going to do. they're going to go to the other countries because of what we can do. interestingly enough though, shina had not find on in the 1st round and they have signed on now. so that could make a difference because the big prediction was most companies would flee and they'd go to china, but that is now being prevented. ok, well it'll certainly be interesting to see exactly what happens with this tax moving forward. excellent points to consider here. hillary ford, which thank you so much for your time. you're welcome. let's hope it's not a race in the bottom and it's been stopped. while we don't know the name of the mysterious auction winner, we do know someone else who are join. just phases is 1st flight in the space. 82 year old pilot wally funk will be aboard the blue origin space flight set for later this month. funk is a

we've had a heat wave warning across finland as well as estonia, latvia and lithuania and western areas of russia. that heat does continue to build . it's down in the south, around the black sea that we are seeing another swirling weather system, dumping rain on ukraine. and if we take a look closely at the east mediterranean, we think some of the weather weather approaching northern areas of turkey. but we have got a wind warning over grease and cypress, where we've had those forest fires, continue. ah, can an image represent a truth or merely mimic the perception of the beholder behind the camera? preconceptions, one sided imagery, reclaiming narrative, and the trauma of colonialism ation, and it lingering legacy, delicately addressed as a weapon to make a scene in the democratic republic of congo. filming a witness documentary on al jazeera, the story of them, bob weigh in her words. she is always told from the perspective of the great man, whether livingston robertson, my responsibility, is to tell when story in a way that it hasn't really been told before. the ordinary. everyday li

hungary, ireland, estonia. what will it take to convince them to get on board, do you think?t on board, do you think? . w them to get on board, do you think? . , ., ., think? yeah, in fact, you have to grouns _ think? yeah, in fact, you have to grouns of — think? yeah, in fact, you have to groups of countries - think? yeah, in fact, you have to groups of countries saying i to groups of countries saying no at the moment. the likes of ireland, which want to be able to offer lower tax rates, and i think they need to realise that their business model is really finished, the world is saying, enough of the race to the bottom. i think this will go through, despite the opposition, and they will have to find a way of living with it, a new model. but then there are low income countries like nigeria and kenya who have really been brave, given the pressure they are under, to say that this deal is not good enough. we are giving most of the revenues, in fact, to the high income countries that are the headquarters of these multinationals. they will be very little left for lower income count

right now, -- prime minister in estonia right now, they know this job can be done by men and women., because women have been doing it when they were children. and this is the biggest impact which women leaders can have. you need to work a little bit. you face unconscious gender bias. somebody looks at you and besides, no, this is for heads of state. you might not be one of those. you have loads of these stories in the u.n., and we should talk about these things and demonstrate that even at the highest offices, these things happen and it is not that something is wrong with me, because some people have told that if you exit this and every time somebody looks behind you to find the important person, you start feeling maybe something is wrong with me. no, this is the unconscious gender bias and we need to be open about it, transparent, and this way, we can kind of take us hairy, dark animal out of the corner, put it in the center of the table, and make it disappear. shery: the estonian president there. kersti kaljilaid. vonnie: the u.s. jobs report will show whether employers had greate

but i still think the eu has a bit of a mountain to climb internally, because ireland, along with estonia world, and hungary, are basically still objecting to this, and it has always been the internal divisions, regardless of the digital ones, corporate tax has always been a big problem. so it is a step in the right direction, it is definitely not something that is going to guarantee delivery. figs something that is going to guarantee delivery. as you say, there are _ guarantee delivery. as you say, there are some _ guarantee delivery. as you say, there are some serious - there are some serious stumbling box still in the way. finance leaders have supported this global effort for the 15% corporation tax, but there is also the problem in the us, the president biden supports it as well. ., , , ._ president biden supports it as well. ., ,, ., ., well. congress may not, and i think that _ well. congress may not, and i think that was _ well. congress may not, and i think that was effectively - well. congress may not, and i think that was effectively the | think that was effectively the question

there's ireland and estonia and hungary and they are concerned that their tax rates are below this percentagent this minimum tax to go into effect. they also likely do not want the european union to implement its own version of the minimum tax services and expression of optimism but also possibly about the european union implementing a directive of some sort to deal with this. the other countries have some different interests. there are several countries in africa and one of the issues of this negotiation have been whether or not the concerns of countries outside of europe and outside of the americas are being taken into account so this may also be more of a geopolitical statement about whether or not the interests are being incorporated. one thing to note is that even if countries themselves don't implement the minimum tax, they may end up feeling the effect of it because the way the minimum tax works is it is a top up tax. it basically says if a subsidiary does not pay 15%, then another country can make up that difference. so that is one argument that the oecd is making is that not everyone

estonia, slovenia, slovakia, can you scroll down a bit? are, number 37, the united states just ahead of basket case belarus. white liberals in dallas should just agree to send their kids to schools in belarus. same results but a lot cheaper even with the cost of the plane tickets. to go back to those, 43% of pacific islanders, 37% of blacks are in college. those numbers are all way too high because most of those students are not learning anything worth knowing of staying in school until grade 38 is a waste of life. each year, china graduates getting close to ten times more stem students than america does because stem is difficult and giving classics at princeton where you know longer need to know that in their greek or english at yale where you know longer need to know shakespeare isn't difficult at all. chinese educators think math is important, american educators think math is racist. it is not hard to see where this ends. we are always delighted to have candace owens, the host of candidates on our airwaves and she joins us now. what do

hungary, estonia, ireland. this takes away their leverage to get companies to go to their country. what kind of negotiating leverage does janet yellen have given the fact she needs to wrangle together congress to get the u.s. on board and the parameters of that? >> it is a very good question. right now the leverage they have is global momentum. i spoke to the german finance minister after his meeting with the secretary and he said the train is going. given the fact you have so many countries even in the developing world coming on board. you go to the point that this goes the hands of congress. republicans do not like this and it will be very difficult potentially through budget reconciliation they can get 15% global minimum tax. that other pillar, they need two thirds of the senate to vote for it. lisa: senators and congressmen had been off for two weeks, they come back to washington this week. how high on their agenda will this minimum tax rate versus the infrastructure and some of the other proposals? >> you guys in new york keep saying the week starts tomorrow. in washington it

but there are still some big hurdles in the way. 9 countries refused to sign up including ireland, estonia and hungry. this could provide a loophole in the new tax plans. also, each of the $130.00 government has to find a way to introduce legislation putting the agreement into law. and finally, many countries demanded special exceptions. the u. k, for example, wants to exempt its financial industry from the rules of the asked for car out like for the likes of manufacturing machinery and shipping or gemini is finance minister . all our faults was at the o. c. d meeting in washington, he's so d, w, the agreement between the countries is an important breakthrough. and it's also a huge success for democracy because the race to the button was also something which produced a situation where we could not decide on our national democratic level about the right way of fair and moderate taxation of culprits. we have had to look at what the others were doing and now we can do it in a common way and we understand that there is no chance for big companies. for instance, to avoid, to being taxed. we hav

estonia is too small, and hungary is a special case. i think they have other battles they would rather fight on keeping immigrants out rather than on the tax front. so i don't except them to hold up the tax deal in the long run. kailey: thank you for your insight. coming up, french and european leaders meeting to discuss the economic recovery. gilles moec will be joining us live from the conference, next. this is bloomberg. ♪ ♪ kailey: let's check in on the bloomberg first word news. off the coast of hawaii, a boeing 737 cargo jet made an emergency landing near honolulu after reported engine troubles. the coast guard rescue to the two crewmembers aboard. the plane was attempting to return to honolulu. u.s. payrolls rose in june by the most in 10 months. employers added 850,000 jobs last month, led by strong gains in leisure and hospitality. still, the on and limit rate ticked up because more people voluntarily left their jobs and the number of jobseekers rose. opec and its allies are locked in a tense diplomatic standoff. they are tryin

here, ireland, hungary, estonia.y need to get something from the european union to be blunt about it in order to sign up to that deal. clearly their business model for their economies was relying on lower tax rates than the 15% the finance ministers here on the ground are all optimistic they are getting that deal done. take a listen. >> i will use the opportunity to try to explain why we think that the few remaining european union countries that have not endorsed the inclusive framework and why we think it's in the world's interests and their interest to be part of the agreement. >> we will discuss the point next week with the three remaining european countries that still have some doubts about this new international architecture and talking about doubt. not talking about opposition >> i'm very confident we will get not just the agreement of a lot of member states of the european union, but the union as such this was the case with all of the agreements we reached on the global level on tax evasion. i'm sure this will

to the side of the digital tax levy whether or not she is going to be successful or -- ireland and estoniaboard in terms of the global minimum tax. she came out of the g20 triumphant. jon: annmarie hordern in washington dc. looking forward to you to later on balance of power. >> what is it like? can we just travel to midday? >> aiko all over the world and make sure i'm highly caffeinated. jon: and he just throws out a word like cuba. a little like balance of power on tv and radio at midday and 12:00 eastern time. back to the china story. multinationals who operate in hong kong have been petrified of saying anything about this law. they are petrified about saying or doing anything that loses them access to the mainland. if any of these decisions are made it won't that it will be made by the government. >> it is front and center and i have to admit that hong kong is fomenting. to get informed on the scope and scale of this company, this has to do with hong kong as well. the j.p. morgan presence in hong kong and they do that wrapped around 259,000 employees. we will talk about these financial

estonia is another place with strong efforts. taiwan's government does a lot of very proactive work recognizing an information threat targeting their citizens re--- citizenry. the challenge in the u.s. is, who has the moral authority to be the corrector? depending on which segment of the population you live in, you trust very different media. for a long amount of time now, there's been a core dated effort on the start of certain properties to erode confidence in the pro -- possibility of an outside internet -- entity to fact-check. you can't trust. it creates a perception that it's too hard to know who to trust. the only person you can trust is an influencer or media property that is telling you this. one of the key challenges is that it's very hard to tell someone, this information is not true. this is not the facts. this is exactly the challenge we face. when you trust newsmax and newsmax is telling you something , you see people who won't be receptive to any fact-check of their content. whether that's government media or any o

students rank well behind countries like canada and estonia when it comes to reading, riding, and mathn. >> shannon: all right, anita vogel, thank you so much. first up intimates real news roundup, the university of north carolina at charlotte is now offering an online program in antiracism. graduate certificate on antiracism will teach courses on "addressing race and racism in professional or organizational spaces" with a goal of becoming "justice-oriented change agents." a family who donated more than $1.3 million to a tampa catholic school is now suing to get their money back saying the school has lost its way by embracing woke culture. the lawsuit additionally asks that the school no longer market itself as a catholic institution. and now victims of communism remembrance month in nebraska. following a declaration by the governor, the republican saying that it's "important to remember that whenever communism has been incremented across this world i'm a what we've seen is a lot of human suffering." taking heat tonight for his comments complementing the fiance of hungarian tennis play

students rank well behind countries like canada and estonia when it comes to reading, writing and maththank you very much. up next, president biden says he doesn't trust the taliban, but he is pulling out of afghanistan anyway. we'll ask the panel about that. >> do you trust the taliban, sir? >> you got -- is that a serious question? >> it's absolutely a serious question. do you trust the taliban? >> no i do not. follow me. ♪ (realtor) so, any questions? (wife) we'll take it! (realtor) great. (vo) it will haunt your senses. the heart-pounding audi suv family. get exceptional offers at your local audi dealer. my psoriatic arthritis pain? i had enough! it's not getting in my way. joint pain, swelling, tenderness...much better. my psoriasis, clearer... cosentyx works on all of this. four years and counting. so watch out. i got this! watch me. real people with active psoriatic arthritis look and feel better with cosentyx. cosentyx works fast for results that can last. it treats the multiple symptoms of psoriatic arthritis, like joint pain and tenderness, back pain, and helps stop further j

administrators, countries like estonia hacked by russia, they put more responsibility on individuals. they have cyber hygiene. it's a national effort, individuals and companies to say, you guys got to protect yourselves better. it's on everybody. there's no big wall we can put up at the atlantic ocean to stop this kind of stuff unless you and i and companies -- by the way, government is smarter. we're dumb. we're easy targets. >> there needs to be better defense because the public/private problem needs to be a public/private solution. there's no sign that china will respond to diplomatic statements. >> it works for them. >> they need leverage. >> cyber hygiene. i like that. cyber hygiene. excellent. thank you, guys, so much. great to see you. jim and alex with us here. >>> coronavirus cases are rising in every state in the country. they're driven almost entirely by unvaccinated americans. how are some hospitals coping with the surge? >>> just in, cnn speaking with billionaire jeff bezos ahead of his launch from earth. don't want to miss this interview. atients i often see them have te

ireland, hungary, and estonia are among those currently refusing the plan. >> it is more than 9% of thehis is something. i know that in the past, many countries that were not supporting these proposals right from the beginning later supported them. there is a big train on the track, and i think it will continue to go. laura: global news 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. mark, anna? anna: laura wright in london. coming up, we will get your stocks to watch, including morrison. the latest company on the shopping list for a u.s. buyout. or they are giving some thought to an offer from apollo. that is 49 minutes ago. we get the latest next. this is bloomberg. ♪ ♪ anna: look on back to the european market open. eight minutes until the start of cash equities trading here in europe. we will not get that stateside, fourth of july holiday. it happens on the fifth of july this week. let's get to the start of trading and focus on the stocks we are watching. joe easton joins us. the bid

. >> ireland and hungary and estonia are important because it may be that for the eu to adopt parts of agreement will return uni anymorety but i am very hopeful that these countries will see it as in their interest to join the global agreement it's really an important step for the global economy and for all countries in it to stop the race to the bottom that we've seen over many decades in corporate tax rates. there will remain differences across the world in terms of the level of corporate taxation, but stopping a competition that was really depriving countries of the ability to tax successful companies, you know, that's a source of income and revenue that we need in order -- all countries need in order to be able to finance important investments in their people and their economies. >> but some people do see this as a way to fulfill the europeans' dream of taxing u.s. technology companies in particular and that -- it's not necessarily fair because they are the ones who are going to be paying this deal >> well, there are two pillars of this agreement. one, what's called pillar two is a

ireland, hungary, estonia, they are not on board with the minimum global tax.e than 90% of the world gdp. this is something. i know even in the past many countries are not supporting the proposals right from the beginning supported them later. there is a train on the track and i think it will continue to go. annmarie: anything you're willing to give to the countries to get them on board? >> the experience in europe was all of the global agreements have been affected by all of the member states. annmarie: all of the member states. do you think at some level this is not fair for countries like estonia, ireland, and hungary. this is their leverage to compete with powerhouses like france and germany. do you think they will want more from the eu? >> the eu is very solid union. we give a lot of money to those member states who have the need for a better development, and even with this crisis we developed a recovery program for the first time, a big figure of european bonds and use this money for grants to those countries that need support in the crisis. there is a co

framework the global minimum tax rate would be at least 15% the g20 is trying to convince ireland and estoniag to implement this by october. >> this deal will end the race to the bottom. instead of asking the question, who can offer the lowest tax rate, it will allow all our countries to compete the on the basis of economic under mentals. >> the second half deals with digital taxes aimed at america's tech giants. now, those would end under the new rules and instead countries would agree to tax any multinational with revenues of more than $20 billion on profits above 10%. the reality is though that is still mostly u.s. companies. one analysis projects the new regime would generate $87 billion in tax revenue, more than that have of that, 56 billion, would come from companies that are headquartered here in america. and about a third, 28 billion, would be paled by just five tech companies, apple, microsoft, alphabet, intel and facebook so the timeline for this up in the air though, guys treasury secretary janet yellen estimated that details won't get finalized until spring 2022 and it would likel

cuban people with my counterparts who chair the foreign affairs committee of the united kingdom, estonia and lithuania, and foreign ministers of 20 nations condemned the mass arrest of protesters in cuba and call on the government to respect the universal rights and freedoms of the cuban people. many of these countries have never ever expressed themselves in solidarity with the cuban people. i'm proud to see secretary blinken and the administration make that happen. i applaud those governments that joined secretary blinken, but i also note the absence of those, including canada and spain and the european union, does spain care more about spanish hotel investments than it does about the human rights of the cuban people? [speaking spanish ] does canada place more priority on mining investments than it does on fundamental freedoms? i would hope not. these universal principles should unite all of us. the administration is convening a working work to study some remittances. for too long the cuban military has managed the remittances that cuban americans send their families on the island, usin

in estonia we were welcomed by the prime minister and the foreign ministry. we learned that russian diplomats had been expelled in april to protest along with the czech prime minister, exposing the irrefutable evidence that two russian g.r.u. agents were behind the 2014 ammunition depot explosion which killed two people. the same two russian agents named by the czech republic are suspected by british diplomats for killing two in 2018. the czech republic has correctly demanded russia pay for damages. thank you for your annual delivery of south carolina pizzas to capitol hill and congratulations -- and also, god bless our troops and we should never forget september 11 and the global war on terrorism. i yield back. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from new york seek recognition? >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman is recognized for one minute. >> mr. speaker, i rise today in support of h.r. 18, the no taxpayer funding for a

the group are holdouts like ire lapped and estonia are holding out.es of more than $20 billion on profits above 10%. financial firms and extractive industries are exempted. it could be spring of next year before this part of the deal is complete and, guys, it's very likely the senate will need to ratify the agreement with a 2/3 majority. >> that's the tricky part. the idea of getting 2/3 of congress to agree to anything. we can't even get a bipartisan infrastructure bill through congress >> reporter: yeah. absolutely remember, it's not just the u.s. congress but it's going to be the legislatures of the 130 plus countries who are signing on to this plan as well. so in the u.s. what yellen said was the global minimum tax piece, she was hoping that could move as part of the budget resolution and reconciliation process that is underway with the american families plan as part of biden's larger human capital infrastructure plan but the second piece around digital ta taxes, that would require a new international treaty which the senate would have to ratify.

the kisser here is when you look at ireland, hungary and estonia, that may throw off the eu where the unanimous, it takes those votes and turn them into 27 no votes. they bring businesses into their country. will enrich their country, pull their citizens out of poverty and they are not interested in making it richer. ashley: the eu can't agree what day it is. that is the problem with the eu. i want to check the markets and bring in eddie go bore. you were concerned about the quarter, you think the fed is dead wrong about inflation being transitory. make your case. >> the transitory argument is a play on words because ultimately inflation is always transitory. once you hit peak inflation it becomes a head wind, then you go into deflationary cycle. we might see that in the third quarter. the fed cannot convince it is transitory and bigger than any data point they can look at it number one is oil, not going back to the 30s or 40s. it will probably hit 92 possibly 100 next year. housing prices, housing costs, rent increases have not kicked in yet. when rent materials are lifted you can se

and i think we have a lot we can learn from some of our allies, notably estonia and israel, in termshow they are literally bringing in at the kindergarten level cybersecurity into the curricula. so i didn't give you a clean answer on that, but it's all of the above, more of it, and faster. >> sure. couldn't agree more. and focusing on k-12 is essential, and also diversity. we're stronger when we have very different points of view, backgrounds that we can bring to the table to offer expertise and talent and we have to work harder on the diversity part as well. i know my time has expired. i have other questions that i'll have to submit for the record. but thank you for those and thank you to the rest of the panel, i'm sorry i couldn't get you to for questions. thank you, mr. chairman. i yield back. >> the gentleman yields back. the chair recognizes the gentleman from mississippi, mr. guest, for five minutes. >> thank you, mr. chairman. frank, i just want to highlight a few things you testified in your opening statement and also in the report that you provided prior to your testimony. y

point, there is 130 companies signed on to minimum tax proposal g20 signed on ireland hungary i think estoniathe convictions of u.s. companies stopped o for the first time in 2018 more money retraited to this country than went out more than last 13 years, we saw job growth we saw -- employment go up, everything positive around the business community now that was stifled so some degree by trade issues that came up shorter thereafter things so slowed down but capital expenditure in u.s. went up the president is pushing to unwind the month of provisions that is going to be a big debate as part of infrastructure, minimum tax is just one component of it. will the. maria: yeah, we're not sure, if president biden will be able to get all of the things he wants through. but trying to jam this stuff through reconciliation, mark, but when you look at the potential, for what he wants, we are talking about much higher tax rates for companies, individuals we are talking about much more spending, what kind of impact would that have, on corporate america from your standpoint, to go from you know, this tax cu

the new tax could be in place by 2023 countries like ireland, estonia and hungry have not signed up. still, german, the finance minister, all shawls is optimistic, he described a deal as equal oh, so progress in tackling talks avoidance. the minimum is a real, the great advantage for democracy in fort phantom station, and it will give us a chance to do and erase to the now just after we are fighting against corporate 19. and we are taking a lot of steps to fight against the house crisis to fight against the economy. crisis is absolutely necessary that we take this and i'm really, really happy that we are definitely not joined by the band that he got who is in venice at a g 20 meeting at band. why this agreement now? but the d. 20 countries need money after the covered crisis said they want to generate up to 150000000000 years more revenue per year. they have to see if the estimates are correct. but anyway, that's the window of opportunity to do it now, because genet yellow and the new u. s. finance minister. it's also pushing for this now. and she's setting on bedding on internationa