- 1. Cameron releases tax data in response to Panama Papers criticism
- 2. Developer reveals plan to build world's tallest tower in Dubai
- 3. IMF supports central banks' negative interest rate moves
- 4. Bryan Adams and Bruce Springsteen cancel shows over anti-LGBT laws
- 5. Malta protesters call for prime minister to resign
1. Cameron releases tax data in response to Panama Papers criticism
British Prime Minister David Cameron on Sunday released details on his taxes since 2009 in an effort to address criticism after he was forced to acknowledge that he profited from offshore investments uncovered in the Panama Papers. Cameron faces lawmakers on Monday after a week of scrutiny since the release of journalists' investigation of a massive leak of documents from Panamanian law firm Mossack Fonseca, which specializes in setting up offshore shell companies and accounts.
2. Developer reveals plan to build world's tallest tower in Dubai
Dubai developer Emaar Properties on Sunday announced a plan to build the world's tallest structure in the Middle Eastern emirate. The company said it would complete the tower before Dubai hosts the World Expo fair in 2020. The project will include an observation deck and possibly a hotel, but no residences. Emaar said the tower would be "a notch taller" than the 2,722-foot-high Burj Khalifa, which is currently the world's tallest and also was built by Emaar.
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3. IMF supports central banks' negative interest rate moves
The International Monetary Fund on Sunday expressed support for central banks that have lowered interest rates below zero to stimulate their nations' economies. Six central banks, including those in Japan and the European Union, have moved to negative rates in the recent global downturn. Critics have called the moves a sign of desperation that stokes fear. The IMF's financial counselor, Jose Vinals, wrote in a research paper that overall the moves "help deliver additional monetary stimulus and easier financial conditions."
4. Bryan Adams and Bruce Springsteen cancel shows over anti-LGBT laws
Canadian singer Bryan Adams announced Sunday that he was canceling a show in Mississippi over the state's new "religious liberty" law allowing businesses to deny services to gay people due to the owners' religious beliefs. The announcement came on the same day that Bruce Springsteen and the E Street Band skipped a concert in North Carolina, the latest evidence of economic fallout from that state's new law barring local governments from enacting ordinances to protect transgender people.
5. Malta protesters call for prime minister to resign
Thousands of protesters in Malta on Sunday called for the resignation of Prime Minister Joseph Muscat over documents in the leaked Panama Papers indicated that his health minister and chief of staff had secretive offshore accounts. Opposition leader Simon Busuttil said Muscat had shamed Malta and "lost the moral authority to govern." Muscat did not comment on the rally. He said he would decide on his allies' fate once he knew all of the facts.
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