SYDNEY: Media mogul Rupert Murdoch has criticised excessive financial regulation as stymieing free markets and urged Group of 20 (G20) governments to “take a back seat” to allow businesses to drive economic growth.
Murdoch also said US President Barack Obama was penalising businesses by cracking down on so-called “profit shifting” by major corporations to countries with lighter tax regimes, a technique that is also in the sights of the G20.
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