Georgian Prime Minister Irakly Kobakhidze called for a review of relations with the United States after Washington ordered punitive measures over the passage of a law on “foreign agents”.
Stacy Gilbert, a U.S. State Department official, resigned in protest after a report to Congress falsely claimed that Israel was not blocking humanitarian aid to Gaza. Gilbert, who worked in the Bureau of Population, Refugees, and Migration, stated that the report’s conclusions were incorrect. The report was submitted in accordance with a new National Security Memorandum issued by President Joe Biden. Gilbert’s resignation came after she disagreed with the final version of the report, which she believed did not accurately reflect the situation in Gaza.
On May 31, major events included the signing of the Treaty of Vereeniging in 1902, which ended the Boer War in South Africa. In 2008, Usain Bolt set a new world record in the men’s 100 meters race in New York.
Israeli tanks continued to raid Rafah for a second day, defying the World Court’s order to end attacks on the city. The United States did not believe a major ground operation was underway, despite Israel’s incursion into Rafah. Residents reported Israeli tanks entering various areas before retreating towards the border with Egypt. The Palestinian health ministry called for immediate healthcare assistance in Rafah and northern Gaza, where hospitals had stopped functioning. UNRWA reported that around a million Palestinians had fled after Israeli evacuation orders. The Red Crescent Society evacuated medical teams due to ongoing bombardments. The World Court criticized Israel for not ensuring the safety and well-being of the evacuees from Rafah. Israel proposed a ceasefire and hostage release to Qatar, but Hamas insisted talks were pointless unless Israel ended its offensive on Rafah. Over 36,000 Palestinians have been killed in Israel’s Gaza offensive.
Fact: New York prosecutors and Donald Trump’s lawyers made closing arguments at his hush money trial, where he faces 34 felony counts of falsifying business records.
Donald Trump allegedly offered Big Oil executives 0 billion in tax breaks if they donated billion to his campaign. Congressional Democrats are investigating this potential quid pro quo deal. Joe Biden plans to eliminate these tax breaks for the oil and gas industry if elected. The fossil fuel industry is lobbying to maintain these tax breaks, which are set to expire next year. Some attendees at Trump’s fundraising dinner at Mar-a-Lago included executives of smaller oil companies focused on fracking and gas exporting. The event was also attended by individuals with controversial backgrounds in the oil and gas industry.
Donald Trump was booed and heckled at the Libertarian National Convention for his handling of the COVID-19 vaccine and public health restrictions. He tried to appeal to libertarians by denouncing Joe Biden and asking for their support in the upcoming election. Trump also promised to commute the sentence of Ross Ulbricht if he wins the election.
US Treasury Secretary Janet Yellen is trying to save a part of the global corporate tax deal focused on highly profitable multinational firms, but India is refusing to engage on issues important to US interests. The negotiations for Pillar 1 of the OECD corporate tax deal involve reallocating the taxing right on US-based digital giants, allowing about 0 billion of corporate profits to be taxed in the countries where the companies do business. The US has two “red line” issues in the talks related to transfer pricing and the “Amount B” system for simplifying the calculation of transfer pricing. If the negotiations fail, it could prompt the return of digital services taxes in some countries and reignite potential trade tensions. Italy wants to negotiate an agreement with Washington to stop tariffs on imports from countries that agreed to suspend their digital taxes while details of the tax deal were worked out.
The G7 is considering using future income from frozen Russian assets to support Ukraine, with the potential of providing Kyiv with a loan of up to billion. The group is also addressing concerns about China’s industrial practices and aims to sign off on a global minimum tax rate for multinationals. Additionally, the G7 is urging Israel to maintain banking links between Israeli and Palestinian banks to ensure vital transactions can continue.
U.S. Treasury Secretary Janet Yellen is trying to save a part of the global corporate tax deal focused on highly profitable multinational firms, but India is refusing to engage on issues important to U.S. interests.