G20 backs corporate-tax overhaul.

The G20 has endorsed an OECD report that would revamp international corporate taxes and end the loopholes that enable major multinational corporations such as Starbucks (SBUX), Google (GOOG) and Apple (AAPL) to avoid paying large amounts of tax. A major target of the change is the practice of transferring profits from countries where they are generated into low or no-tax jurisdictions via internal company transactions.