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NWQWM Financial report

Hedge fund billionaire Bill Ackman's special-purpose acquisition company is finally nearing a deal, after much speculation surrounding the vehicle since its launch last year. It's pursuing a tie-up with Vivendi over the French media conglomerate's Universal Music Group (UMG), the world's largest music company. Pershing Square Tontine Holdings would acquire 10% of the ordinary shares of UMG for about $4B - implying an enterprise value for UMG of about $42.4B.  The deal would be the largest SPAC transaction on record, It also come at a time when the SPAC market is cooling.  


Finance ministers are set to meet in London on Friday and Saturday, and are poised to announce that they have agreed the principles for a new system of international corporate taxation.  The proposed regime would both create a new right for countries to tax the largest multinationals’ profits based on where they make their sales and a global minimum effective corporate tax rate of 15 per cent, which would raise significant sums of money in the US.


Job creation disappointed again in May, with nonfarm payrolls up what normally would be considered a solid 559,000 but still short of lofty expectations, the Labor Department reported Friday.  The unemployment rate fell to 5.8% from 6.1%.  Just over 6 in 10 people are participating in the labor force.  

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