G-20 leaders meeting in Venice over the weekend took another major step forward in overhauling the international tax system, “backing a proposal that would crack down on tax havens and impose new levies on large, profitable multinational companies.” “Major details” still remain outstanding on the agreement, which is facing an October deadline, but if enacted, it “could reshape the global economy” - NYTimes and WSJ and Bloomberg and MarketWatch
A week after it blew up Didi’s big U.S. IPO by barring the ride-hailing giant from app stores in China, Beijing is formalizing its new cybersecurity mandate by moving to require “domestic tech companies to submit to a cybersecurity checkup before they can go public on overseas stock exchanges” - NYTimes and Bloomberg and Law360
More on the tightrope that Didi tried to walk between Chinese regulators and investors. Emphasis on TRIED - WSJ
And on how the prospect of the recent action prompted TikTok parent ByteDance to “put on hold indefinitely its intentions to list offshore earlier this year after government officials told the company to focus on addressing data-security risks” – WSJ and Bloomberg
So apparently Gen Z’s waging a low-key battle against email? Good to know. Here’s what it means for offices around the U.S. - NYTimes
The Biden Administrations’ executive action last Friday aimed to “increase competition within the nation’s economy and to limit corporate dominance” in an effort to protect consumers and workers alike. The EO “encouraged federal agencies to take wide range of actions,” including “more closely scrutinizing the tech industry” as the administration appears to be honoring “warnings by some economists that declining competition is hobbling the economy’s vitality” - NYTimes and WSJ and Law360 and TechCrunch
The Journal’s taken a look at the state AGs antitrust case against Google (that focuses on its Android OS and Google Play store) and finds it’s awfully similar to the antitrust actions against Apple. And that’s not a good thing - WSJ
Checking in on Zuck and Sheryl, and it seems all’s not going so smoothly over at 1 Hacker Way. Shame, that - NYTimes
Delaware’s Chancery Court is prepping for “its highest-profile trial in a generation” today over claims that “Tesla co-founder Elon Musk drove the electric-car maker to waste more than $2 billion” when it bought sister company SolarCity in 2016. The always-voluble Elon is slated to be early on the stand—perhaps even later today – Law360 and WSJ and MarketWatch
Still-surging home prices around most of the world are creating a serious headache for central banks—as “withdrawing stimulus too slowly risks inflating real estate further and worsening financial stability concerns in the longer term,” while pulling back “too hard means unsettling markets and sending property prices lower” and “threating the economy recovery.” So good luck? - Bloomberg
Adam Grant on the absence of “collective effervescence” over the past 15 months and what a return to the wider world means for the innate human desire to share moments with others - NYTimes
Stay safe and get vaxxed,
MDR
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