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Swiss vote to become first European nation to ban synthetic pesticides By Reuters

By John Revill ZURICH (Reuters) - Switzerland could become the first European country to ban artificial pesticides in a June 13 referendum which backers of the initiative hope will trigger similar prohibitions elsewhere. Globally, only Bhutan has a complete ban on synthetic pesticides, according to supporters aiming to outlaw the use of products made by agro-chemical giants such as Switzerland's Syngenta and Germany's Bayer (DE:BAYGN) and BASF. Supporters of the ban say the artificial products cause serious health problems and reduce biodiversity. Manufacturers say their pesticides are rigorously tested and regulated, can be used safely...

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G-7 Strikes Deal to Revamp Tax Rules for Biggest Firms By Bloomberg

(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The Group of Seven rich nations secured a landmark deal that could help countries collect more taxes from big companies and enable governments to impose levies on U.S. tech giants such as Amazon.com Inc (NASDAQ:AMZN). and Facebook Inc (NASDAQ:FB). The agreement by the G-7 finance ministers in London satisfies a U.S. demand for a minimum corporate tax rate of “at least 15%” on foreign earnings and paves the way for levies on multinationals in countries where they make...

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Dented by jobs miss, dollar teeters ahead of CPI By Reuters

By Tom Westbrook SINGAPORE (Reuters) - The U.S. dollar began the week under gentle pressure, after a second consecutive month of softer-than-expected U.S. jobs data reversed its recent attempts at a rally, as focus shifted to inflation figures and a European Central Bank meeting. Friday jobs readout, which showed U.S. non-farm payrolls increasing by 559,000 in May, missed market expectations by nearly 90,000 and seemed to cool worries that the recovery was running hot enough to require early tapering of policy support. After the data, the dollar unwound a broad bounce, and on Monday it opened...

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Asian Stocks Down, Analysis of “Goldilocks” U.S. Employment Report Continues By Investing.com

By Gina Lee Investing.com – Asia Pacific stocks were mostly down Monday morning as investors continued to digest the U.S. employment report released at the end of the previous week. China’s Shanghai Composite edged down 0.11% by 9:46 PM ET (1:46 AM GMT) while the Shenzhen Component was up 0.74%. China is due to release trade data, including export, import and trade balance figures, later in the day. Hong Kong’s Hang Seng Index was down 0.72%. Japan’s Nikkei 225 was up 0.28% while South Korea’s KOSPI inched down 0.03%. In Australia, the ASX 200 inched down...

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Australian financial crime watchdog widens casino probe, pressures Crown Resorts buyout By Reuters

By Byron Kaye SYDNEY (Reuters) - Australia's anti-money-laundering agency said it was investigating casino operator Star Entertainment Group over suspected breaches of customer due diligence laws, jeopardising a A$9 billion ($7 billion) proposal to buy rival Crown Resorts. The Australian Transaction Reports and Analysis Centre (AUSTRAC) disclosed the Star probe on Monday among a flurry of new investigations, including a widening of an existing inquiry into Crown, which has been fielding takeover approaches as a way to resolve allegations of systemic governance failings. An investigation into Star, owner of Sydney's only casino, over similar issues would...

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Musk says Tesla cancels the longest-range Model S Plaid+ By Reuters

(Reuters) - Production for Tesla Inc's longest-range Model S Plaid+ is canceled, CEO Elon Musk said in a tweet https://twitter.com/elonmusk/status/1401641625500229632?s=20 on Sunday. "Plaid+ is canceled. No need, as Plaid is just so good." Musk tweeted. Model S Plaid+, which would have been Tesla's highest-end model with a driving range of 520 miles, was unveiled at a battery event last year and Musk said it would adopt its next generation 4680 battery cells. But production was pushed back to 2022 from the end of 2021. Musk on Sunday called the Model S Plaid the "quickest...

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Asia breathes sigh of relief as U.S. jobs fail to shock By Reuters

By Wayne Cole SYDNEY (Reuters) - Asian shares firmed on Monday while the dollar wavered after the anxiously awaited May U.S. payrolls report showed the recovery on track but not so hot that it might bring forward a policy tapering from the Federal Reserve. Investors were curious to see how shares of major tech firms would react to the G7's agreement on a minimum global corporate tax rate of at least 15%, though getting the approval of the whole G20 could be a tall order. So far, the reaction was muted with both Nasdaq and S&P...

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Before talks on N.Ireland, UK calls for pragmatism and EU seeks trust By Reuters

By Andy Bruce LONDON (Reuters) - Britain called on the European Union to be more pragmatic and Brussels urged London to help rebuild trust on Sunday, as the sides prepared for talks this week on a part of the Brexit deal that governs trade with Northern Ireland. Since it completed its departure from the EU last year, Britain's relations with the 27-member bloc have soured, with both sides accusing the other of acting in bad faith over what is called the Northern Ireland protocol. The protocol introduced checks on some goods moving from mainland Britain...

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UK’s Frost says EU needs to change tack for N.Ireland talks By Reuters

LONDON (Reuters) - British negotiator David Frost said on Sunday that the European Union needs to change its attitude if talks this week on the Northern Irish Brexit protocol are to be successful. "The EU needs a new playbook for dealing with neighbours, one that involves pragmatic solutions between friends, not the imposition of one side's rules on the other and legal purism," Frost wrote in an opinion piece published by the Financial Times. ...

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EU ambassador to UK says trust is low ahead of Brexit talks By Reuters

LONDON (Reuters) - The European Union's ambassador to the United Kingdom said on Sunday that levels of trust between the two powers was low ahead of Brexit talks on the Northern Ireland protocol this week, but added that he was confident it would improve. "The levels of trust are low right now," Joao Vale de Almeida told Times Radio. "We ultimately need to re-establish a minimum level of trust that allows us to find solutions, but this being said...

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