The U.S. Treasury Department said Tuesday it is imposing economic sanctions on 50 people and firms across Hong Kong, the United Arab Emirates and the Marshall Islands that have been acting as a "sprawling shadow banking network" for Iran's military.

Treasury's Office of Foreign Assets Control said the entities and individuals are involved in the sale of Iranian oil and petrochemicals, which have helped Iran's military and government gain illicit access to the international financial system.

A global tax on the super-rich is proposed in a new report that Brazil commissioned for its current presidency of the leading 20 rich and developing nations.

Individuals with more than $1 billion in total assets would be required to pay the equivalent of 2% of their wealth in income tax, according to the proposal in the report by Gabriel Zucman, a French economist who teaches at the Paris School of Economics.

Shares advanced in Europe and Asia on Wednesday after a rebound for Nvidia offset weakness on Wall Street.

Germany's DAX surged 0.8% to 18,482.00 while the CAC 40 in Paris was up 0.1% at 7,672.76. In London, the FTSE 100 gained 0.5% to 8,291.45.

Open markets and green technologies are vital for stabilizing global growth, China's premier said Tuesday, while criticizing trade tensions as he opened a conference in northeastern China.

Premier Li Qiang told political and business leaders attending the World Economic Forum Annual Meeting of the New Champions, also known as the "Summer Davos," that China is on track to attain Beijing's growth target this year of 5%.

European markets opened with gains and Asian benchmarks retreated Monday after U.S. stocks coasted to the close of their latest winning week.

The future for the Dow Jones Industrial Average edged 0.1% higher and that for the S&P 500 rose 0.2%.

China and the European Union are open to holding talks on the EU's recent decision to sharply raise tariffs on imports of Chinese-made electric vehicles, officials from both sides say.

China's Commerce Ministry and Germany's economy minister said over the weekend that each side was willing to hold talks on the issue. Meanwhile, Chinese state media said Monday that Beijing is pushing for the EU to give up plans to sharply raise provisional tariffs on imports of Chinese-made electric vehicles by July 4.

The promises are appealing -– and expensive.

Vying to oust the centrist government of President Emmanuel Macron in an upcoming two-round parliamentary election June 30 and July 7, French political parties of both the far right and far left are vowing to cut gasoline taxes, let workers retire earlier and raise wages.

Cab drivers and bikers tap away furiously on their mobile phones as they wait at red lights in the Iranian capital during an early June heatwave. Some pedestrians in Tehran are doing the same. They all believe they could get rich.

The object of their rapt attention? The "Hamster Kombat" app.

The IMF executive board approved a new loan program with Tanzania worth around $786 million on Thursday to help it "build resilience to climate change," and also unlocked the latest tranche of money under an existing agreement.

The new 23-month loan program "will support Tanzania's ambitious reform efforts to implement climate policy reforms that address risks and challenges associated with climate change and enhance the resilience of the Tanzanian economy," the IMF said in a statement announcing the board's decision.

French Finance Minister Bruno Le Maire on Friday insisted France would slash the public deficit to below three percent of GDP by 2027, after the EU reprimanded Paris for breaking budget rules.