European finance leaders called for progress on global rules to tax the digital economy at a meeting of G20 finance ministers and central bankers in Argentina on Sunday, putting them at odds with U.S. counterparts.
A European Union official threatened to sanction Panama and other nations if they don’t cooperate fully to fight money laundering and tax evasion, after a leak of data showed the small country remains a key destination for people who want to hide money.
Another setback for the French government as the rating agency Standard & Poor’s cut its appraisal of the country’s credit worthiness. It reduced its rating one notch to AA from AA+.