David McHugh

AP Business Writer

In this June 7, 2017 file photo, the Organisation for Economic Co-operation and Development (OECD) headquarters is pictured in Paris, France. Nearly 140 countries have agreed on a tentative deal that would make sweeping changes to how big, multinational companies are taxed in order to deter them from stashing their profits in offshore tax havens where they pay little or no tax. The agreement announced Friday foresees countries enacting a global minimum corporate tax of 15% on the biggest, internationally active companies.

130+ Countries Reach Deal on Minimum Corporate Tax

But the deal faces several hurdles before it can take effect.

I Stock 1257773840

OPEC Says Oil to Remain World's Top Energy Source Through 2045

The cartel says electric cars and alternative energy will reduce demand in rich countries, but expanding economies will still rely on the fossil fuel.

In this March 22, 2019 photo, containers are unloaded by a freighter at the Eurokai terminal (Eurogate) in the port of Hamburg, Germany.

Shortages Giving German Manufacturing a 'Bottleneck Recession'

Widespread friction in supply chains sent a closely watched index of German business optimism lower for the third month in a row.

Volkswagen Earnings Beat Pre-Pandemic Levels

VW's luxury brands, Porsche and Audi, both turned in record unit sales for the first half of the year.

Mercedes Sketches Out All-Electric Scenario by Decade's End

The shift to electric vehicles “is picking up speed — especially in the luxury segment," said the brand's CEO.

Daimler Posts $4.3B Q2 Profit Despite Chip Shortages

Profit margins reached into double digits for the third quarter in a row.

In this photo, a fuel truck driver checks the gasoline tank level at a United Oil gas station on Sunset Blvd., in Los Angeles.

OPEC, Allies to Gradually Increase Output

Oil-producing countries made drastic cuts to support prices during the worst of the pandemic, and must now judge how much additional oil the market needs.

A prototype of a truck for future electric technology strategy of the Daimler Trucks company is presented during a news conference in Berlin, Germany last September.

Daimler Truck Says Batteries, Hydrogen Are the Future

Despite infrastructure challenges, the company's roadmap foresees up to 60% of sales as battery or hydrogen vehicles by 2030.

In this Sept. 27, 2020 file photo, visitors gather near a BMW M8 model on display at the Auto China 2020 show in Beijing, China. Booming sales in China helped propel German luxury carmaker BMW to stronger profits in the first three months of the year even as its home market Germany trailed the ongoing recovery in global car markets from the worst of the pandemic shutdowns.

China Propels BMW to Strong Profits

Sales were also up by double-digit percentages in most of Europe and the U.S.

In this April 20, 2021 file photo, visitors look at the latest electric car from Volkswagen during the Shanghai Auto Show in Shanghai, China. Volkswagen's earnings bounced back strongly in the first quarter. The company is riding the strong recovery from the pandemic in China, its single biggest market these days.

Volkswagen Profits Jump as China Leads Rebound

Sales of electrified cars more than doubled.

Daimler Truck, Volvo to Make Fuel Cells

The two companies said that they would remain competitors in developing new truck models even as they cooperate on fuel cells.

The BMW Group headquarters are pictured in Munich, Germany, Wednesday, March 16, 2021. German automaker BMW said Wednesday it intends to speed up the rollout of new electric cars, vowing to bring battery powered models to 50% of global sales by 2030.

BMW Ramping Up Move into Electric Cars

But the speed of adoption would “depend on the availability of charging infrastructure."