France poised to drop plan to tax tech giants amid signs of US deal

Talks in Davos raise hope of agreement to find multilateral solution to taxing digital firms

France is poised to announce on Wednesday that it is dropping its go-it-alone plan to tax big US tech companies in exchange for Washington's agreement to press ahead with attempts to find a multilateral solution.

Hopes of an agreement were rising in Davos after several days of intense talks involving the French finance minister, Bruno Le Maire, the US treasury secretary, Steve Mnuchin, and ingel Gurria, the head of the Organisation for Economic Cooperation and Development.