Good morning from the Financial Times. Today is Friday, June 11th, and this is your F-teen news briefing.

G-7 leaders have a plan to send more vaccines to poorer countries. We'll talk about higher inflation

and the market's non-reaction. And our economic editor, Chris Giles, will look at some of the

challenges to reaching a deal on taxing global companies. We're far from a global deal being done,

and there are countries that need to people to offer certainty.

I'm Lauren Fedor, in for Mark Filipino, and here's the news you need to start your day.

Leaders of the G-7 group of advanced economies are meeting and picturesque Cornwall England today.

They'll kick off a three-day summit with a pledge to provide a billion COVID vaccine doses

to poorer countries. The move is aimed at countering criticism that wealthy Western countries

bought most of the COVID-19 vaccines for themselves. They also want to take on China and Russia,

who've been selling their jobs to developing nations as a form of vaccine diplomacy.

Now earlier this week, G-7 ministers reached a deal on taxing global companies.

They agreed to tax the companies on where they do business, not where they're based.

Ministers also agreed to set a global corporate minimum tax of at least 15 percent.

Now that's aimed at stopping companies from shifting profits through low-tax places like Ireland

and the Cayman Islands. I spoke to the FT's economic editor, Chris Giles, and he told me which

countries will benefit. The single country that's clearly I think going to gain the most

from the package together with the US. That's because it has a lot of very big domestic

multinationals, with their US companies, which do a huge amount of shifting their profits around

the world to tax havens or to Ireland or places like that. The global minimum, which is what the

Biden administration is most keen on, is designed to make that much, much more difficult.

In pillar one, where is tax paid? Even there, because the US is a big consuming market.

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