EUROPEAN MIDDAY BRIEFING – Caution dominates -2-

A global deal to set a minimum corporate tax rate of 15% lifted its last major hurdle on Thursday after Ireland, a low-tax country that is the European headquarters of some of America’s biggest tech companies, said she would join the redesign effort.

Ireland’s policy shift precedes a Friday meeting of 140 governments and jurisdictions that have been negotiating for years a way to tax international businesses to limit tax evasion and distribute tax revenue in a way they deem more fair. The group seems likely to give its approval to a final agreement that would aim for implementation in 2023.

   
 
 

Pfizer asks FDA to clear Covid-19 vaccine in young children

Pfizer Inc. and BioNTech SE have called on U.S. health regulators to green light their Covid-19 vaccine for children ages 5 to 11, making the vaccine potentially available to millions of young people within weeks. .

The companies said Thursday they submitted the request for authorization to the US Food and Drug Administration.

   
 
 

EU offers no new pledges to welcome Afghan refugees

European Union countries have made no new commitments to welcome Afghan refugees, nearly two months after the fall of Kabul to the Taliban, despite promises to provide a means for groups at risk, especially those at risk. women, to leave the country.

At a resettlement forum in Brussels on Thursday, the United Nations called on EU member states to resettle 42,500 Afghans over the next five years, a figure that EU officials called feasible but to which they would not engage.

   
 
 
   
 
 

WORLD NEWS

US job growth set to accelerate in September

Job growth in the United States likely rebounded last month as schools reopened and leisure and hospitality businesses stepped up hiring. But a persistent shortage of workers is slowing the recovery of the labor market, economists say.

Economists estimate that employers created 500,000 jobs in September, more than double the number added in August, according to a Wall Street Journal poll. The unemployment rate would have fallen to 5.1% from 5.2% a month earlier.

   
 
 

Fed could start to cut, but mortgage rates play by their own rules

The Federal Reserve is finally planning to gradually reduce its mortgage bond purchases, so investors and homebuyers could expect large swings in mortgage rates. But, as with just about everything in the mortgage business, things aren’t that simple.

The amount that any borrower pays can be as unique as the house they are buying. However, there are important data that generally influence the direction of mortgage rates beyond just the underlying interest rates. Two of the most important: the yields on bonds that constitute mortgages for investors and the potential profit from selling mortgages in those bonds.

   
 
 

Debt Ceiling Bill Passes Senate and House

WASHINGTON – The Senate voted in party favor on Thursday to increase the United States’ borrowing limit through December, after Democrats reached a short-term deal with Republican leaders that avoided a looming default for the moment but set up another showdown in a few months.

The key moment came earlier in the evening, when 11 Republicans joined the 50 Democrats in a vote to cross the 60-vote threshold for filibustering and proceed with final passage of the measure, which cleared the government. Senate 50 to 48, with two Republican absences.

   
 
 

Rebound in service activity in China in September

A private gauge of China’s services sector rebounded sharply in September after slipping into a contraction in August as the latest wave of coronavirus infections hit convenience services and consumer demand.

The Caixin China Service Purchasing Managers Index rose to 53.4 from 46.7 in August, Caixin Media Co. and research firm IHS Markit said on Friday.

   
 
 

India’s central bank keeps rate unchanged as pandemic shows signs of abating

India’s central bank kept its key rate unchanged as the economy showed signs of recovery after the Covid-19 pandemic.

Reserve Bank of India Governor Shaktikanta Das said on Friday that the Monetary Policy Committee had decided to keep its key repo rate at 4.00% and its repo rate at 3.35%.

   
 
 

Natural gas shortage triggers winter rush

Myrina, an oil tanker chartered by Royal Dutch Shell PLC, sailed to Asia from the west coast of France last month on liquefied natural gas. As he was preparing to enter the Strait of Gibraltar, the captain received a call, according to people familiar with the matter.

“We have to go to Rotterdam now,” her boss in London told her, according to one of the people. The ship turned around and sailed up the Spanish and French coasts to drop off part of its cargo at the Dutch port. On Thursday, he arrived in Bilbao, Spain, to deliver the rest of his load.

   
 
 

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This article is a text version of a Wall Street Journal newsletter published earlier today.

 

(END) Dow Jones Newswires

October 08, 2021 6:00 a.m.ET (10:00 a.m. GMT)

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