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Fresh allegations about tax regimes and the government’s failure to address anti-money laundering, to be published as the OpenLux series by leading international media this week, may further damage the grand duchy’s reputation. Photo: Shutterstock 

OpenLux revelations spark fresh questions about tax regimes

A new source of embarrassment for the Luxembourg government has emerged following an investigation by several newspapers and the Organized Crime and Corruption Reporting Project. The OpenLux revelations, as they have been dubbed, will be published throughout the coming week by the Süddeutsche Zeitung, Le Monde and other international media. They will focus on Luxembourg’s anti-money laundering arrangements after investigative journalists trawled through the register of beneficial ownership. The Süddeutsche says in its introduction to the series (in German) that “despite all assurances, Luxembourg remains a tax haven…” In a pre-emptive statement released on Sunday evening, the Luxembourg government said that the grand duchy “provides no favourable tax regime for multinational firms, nor digital companies, which have to abide by the same rules and legislation as any other company in Luxembourg.” It also published a series of FAQs relating to tax regimes and anti-money laundering. Delano will have more in our noon newsletter.

Biden stays firm on Iran and China

US president Joe Biden has said in an interview with CBS that he will not lift current economic sanctions against Iran before the regime in Tehran reverts to the terms agreed in the 2015 Joint Comprehensive Plan of Action. Biden also talked about China, saying he expected “extreme competition” between the two countries. He described his Chinese counterpart, Xi Jinping, as very bright and very tough, but with the caveat that “he doesn't have a democratic - small 'd' - bone in his body.” Politico and Newsweek have analysis.

Tom Brady leads Bucs to Superbowl victory

Veteran Tom Brady crowned his reputation as the greatest quarterback in NFL history by landing his seventh Superbowl title, and his first with the Tampa Bay Buccaneers. Brady threw three touchdown passes as the Bucs beat last year’s champions, the Kansas City Chiefs, whose own superstar, Patrick Mahomes, failed to score a TD.

Luxembourg firm seeks to invest in San Antonio Spurs

The San Antonio Express Herald reports that Luxembourg-based private equity and investment advisory firm CVC Capital Partners is seeking to purchase a limited partnership stake in the city’s basketball team the Spurs. The move was first mentioned in the FT, which suggested CVC was seeking a stake of about 15 per cent in the club.

Queen Elizabeth II allegedly lobbied to hide wealth

In an exclusive, The Guardian says it has seen documents showing that the private lawyer of Elizabeth Windsor,  Queen Elizabeth II, made overtures to the UK government to introduce legislation that would exempt her shareholdings from new transparency measures. The lobbying, which took place in the 1970s, was made through what the paper describes as an “arcane parliamentary procedure, known as Queen’s consent”.

Dead and missing after India glacier collapse

The collapse of a huge chunk of a Himalayan glacier in the northern India state of Uttarakhand caused a flood that has claimed at least seven lives. A further 170 people, chiefly workers from two hydro power plants in the area, are missing. The BBC and The Times of India have details.

UK export volume down 68%

The Observer reports that the volume of freight traffic carried on ferries and through the Channel tunnel from the UK to the EU dropped by 68% in January compared with the same month in 2020. The UK’s Road Haulage Association has written a letter to Cabinet Office minister Michael Gove expressing frustration that its previous warning had not been heeded and that the government has failed to hire sufficient customs agents to help with additional paperwork. The government responded by saying freight flows were up to 95% or even 100% of normal levels on some days in January, The Guardian later reported.

Global covid update

UK: more than 12 million people have received at least one dose of a covid vaccine, well on the way to the target of getting at least15 million people to have their first jab by 15 February, the BBC reports. South Africa: the government has suspended its rollout of the Oxford/AstraZeneca vaccine following findings that it offers limited protection against a covid variant first discovered there. Health workers will be offered the Pfizer and Johnson & Johnson vaccines in the coming weeks, according to Sky News. France: health ministry data on Sunday indicated a fall in new covid-19 infections for the fourth successive day. But health experts fear that more contagious coronavirus variants could soon overwhelm hospitals, says Reuters.

Myanmar protests

Tens of thousands of protesters took to the streets of Yangon, the former capital of Myanmar, to demand the release of Aung San Suu Kyi. The leader was arrested by the military in a coup on 1 February. CNN and the BBC report.

Pope appoints first woman to senior synod post

Nathalie Becquart has become the first woman appointed as an undersecretary of the synod of bishops in the Catholic church. The French woman will have full voting rights after Pope Francis made the announcement at the weekend. The Guardian and Euronews have more.

Leon Spinks

Former world heavyweight boxing champion Leon Spinks, who caused on of the biggest upsets in the sport’s history in 1978 by defeating Muhammad Ali, has died at the age of 67 after a long battle with cancer, Reuters reports.

George Shultz

Former US secretary of state George Shultz has died at the age of 100. Shultz served for six years under Ronald Reagan and helped the president forge the policy that, with the cooperation of Mikhail Gorbachev, led to the end of the Cold War. He was previously also labor secretary and treasury secretary under Richard Nixon. The Guardian and FT both have obituaries.

Tip “war” raises $34,000 for Cincinnati restaurant workers

Rivalry between two universities in Cincinnati led to students, staff and alumni leaving more and more generous tips at restaurants across the Ohioan city, resulting in a total of $34,252.06 for staff who have faced a tough time during covid. The highest tip reported so far appears to be for $2,500, says ABC.

Today’s breakfast briefing was written by Duncan Roberts