Facebook, Amazon, other tech giants targeted by historic G7 deal
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The US, Britain and other large, rich nations reached a landmark deal on Saturday to squeeze more money out of multinational companies and reduce their incentive to shift profits to low-tax offshore havens. Hundreds of billions of dollars could flow into the coffers of governments left cash-strapped by the COVID-19 pandemic after G7 advanced economies agreed to back a minimum global corporate tax rate of at least 15%.