2; Yellen to push for corporate minimum taxes on corporations On Monday, Treasury Secretary Janet Yellen will call for a minimum tax on corporations around the world in an effort to keep companies from relocating to find lower rates. We are working with G-20 nations to agree on a global corporate minimum tax rate that can stop the race to the bottom, Yellen will tell a conference organized by the Chicago Council on Global Affairs, according to a report confirmed by CNBC by Axios.
The president Joe Biden is looking to increase the corporate tax rate to pay for a$ 2 billion infrastructure improvement plan. Roy Blunt of Missouri is urging the president to cut his infrastructure plan to roughly$ 615 billion and to focus on building physical infrastructure like roads and bridges. The traditional Republican senator told Fox News Sunday that only 30% of Biden's proposal is on fourth-level infrastructure.
Blunt said that reducing the price would allow the White House to pass the bill through both chambers of Congress. Mitch McConnell, Senate Minority Leader, said last week that the$ 2 trillion package would not get Republican support. GameStop fell 13% in Monday's premarket after announcing plans to sell up to 3.5 million shares as the video game retailer looks to take advantage of its stock rally following a Reddit-fueled trading frenzy earlier this year. GameStop said it would use the proceeds to speed up the transition to e-commerce in its business model.
GameStop closed with$ 14 per share on Thursday, it traded at$ 483 in late January. Before the Reddit trade took hold, the stock started the year under$ 20. The Tesla shares jumped more than 7% in the premarket after the electric automaker said it delivered nearly 185,000 vehicles during the first quarter Friday. This is a record for the company and is above estimates for 168,000 deliveries. All the vehicles produced during the quarter were Model 3 crossover SUVs and Model Y sedans.
Tesla did not produce any of its more expensive Model S sedans and Model X SUVs. However, it did provide 2,020 Model S and Model X vehicles from inventory. 5: U.S. puts J& J in charge of the plant that botched the Covid vaccine. Johnson Johnson put the U.S. in charge of the Emergent BioSolutions Plant, which destroyed 15 million doses of the drugmaker's Covid vaccine, a senior health official said. The government also prohibited AstraZeneca from using the facility.
According to The New York Times, Emergent BioSolutions workers at the plant in question mixed ingredients for the J& J and AstraZeneca vaccines. AstraZeneca, whose vaccine has not been approved in the U.S., said it would work with the Biden administration to find an alternative production site.
Associated Press and Reuters contributed to this report. Get the latest on the pandemic with CNBC's Coronavirus blog.