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CANADA STOCKS-TSX opens lower ahead of BoC rate decision; Dollarama slides

By Reuters Staff
1 Min Read
June 9 (Reuters) - Canada’s main stock index opened lower on Wednesday as financial stocks declined ahead of the central bank’s interest rate decision, while Dollarama Inc fell due to a downbeat forecast.
At 9:30 a.m. ET (1330 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 37.53 points, or 0.19%, at 20,028.39, with the financials sector slipping 0.4%.
Dollarama Inc fell 2.5% and was among the top decliners on the main index after the company said its current-quarter earnings would take a hit from fresh COVID-19 restrictions in certain Canadian provinces. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Aditya Soni) ....

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Amazon and Facebook to fall under new G7 tax rules - Yellen

Both Amazon and Facebook will fall under new proposals for a global minimum corporation tax agreed by the Group of Seven on Saturday, United States Treasury Secretary Janet Yellen said. ....

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Multilateralism is back: Yellen hails G7 collaboration

The world's leading nations can secure historic agreements over tax rates and countering the COVID pandemic when they work together, United States Treasury Secretary Janet Yellen said on Saturday, hailing the level of collaboration at the G7. ....

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UPDATE 1-Taiwan upgrades 2021 economic view as Q1 growth jumps

Q1 growth revised up to +8.92% y/y, from +8.16%
Government sees 2021 exports +20.4% y/y, from +9.58%
TAIPEI, June 4 (Reuters) - Taiwan’s economy will grow at its fastest pace in more than a decade in 2021, the statistics office said on Friday, upgrading its outlook as a strong rebound in exports helps the island even as it deals with a spike in COVID-19 cases.
Gross domestic product (GDP) is expected to expand 5.46% this year, the Directorate General of Budget, Accounting and Statistics said, up from a forecast made in February for 4.64% growth, which would be its fastest since 2010’s 10.25%.
The revision came as the statistics office more than doubled its export growth forecast for this year, with global demand for the island’s technology products buoyed by a work-from-home boom during the COVID-19 pandemic. ....

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Russia's Magnit still has some room for deals after Dixy purchase, CEO says

Russia's Magnit, one of the country's top retailers, still has some room to make acquisitions, albeit probably smaller ones, following its purchase of rival Dixy, Magnit CEO Jan Dunning told Reuters. ....

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