G7's new global tax plan on MNCs may be a windfall for India, and a big setback for tax havens. The decision to allow countries to tax companies that have 'no physical presence but substantial sales' will be particularly beneficial.

An administration official said a memorandum by US president Joe Biden directs federal agencies review anti-corruption measures in 200 days and submit a report along with recommendations to improve them.

The solar energy industry is likely to sese slower growth on account of rise in costs of labour, components and freight charges as the world economy bounces back from the coronavirus pandemic. Among the biggest headwinds for solar is a tripling in prices for steel, a key component in racks that hold solar panels, and polysilicon, the raw material used in panels. 

The settlement, which was announced on Monday and also saw Google fined 220 million euros ($268 million), is the first time the US tech giant has agreed to make changes to its huge advertising business, which brings in the bulk of its revenue.