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After years of disagreement, the Organization for Economic Cooperation and Development hailed a big breakthrough on corporation tax rates on Friday. A global minimum corporate tax rate of 15% was agreed upon by the Group of Developed Nations. This is a significant move for smaller economies like the Republic of Ireland, which have largely drawn foreign corporations due to a lower tax rate.
The value of Elon Musk's SpaceX has surpassed $100 billion following a share sale by existing investors announced this week. According to various sources familiar with the matter, SpaceX has reached an agreement with new and existing investors to sell up to $755 million in stock from insiders for $560 per share, bringing the company's valuation to $100.3 billion. According to sources, the company did not raise additional cash at this time, and the acquisition offer is a secondary sale of existing shares.
The Stoxx 600 index fell 0.7 percent on 15th of September, with utilities shares down 2.7 percent to lead the losses as most sectors and major bourses fell into negative territory. According to the Office for National Statistics, inflation in the United Kingdom reached a nine-year high in August, with consumer prices jumping 3.2 percent year on year after a 2% increase in July. The rise of 1.2 percentage points was the most significant since records began in 1997.