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Sales tax increase approved by Japan's cabinet

The Japanese cabinet has passed a plan to double sales taxes in an attempt to control the soaring costs of public debts. The plan, which needs parliament’s approval, will see taxes raised from the current 5% to 8% in April

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US Congress backs payroll tax cut

The US Congress has voted in favour of extending a payroll tax cut until the end of 2012, ending months of debate. The bill now moves on to President Barack Obama, who has promised to sign it into law. The

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Fake US bonds worth trillions seized

The BBC’s Alan Johnson: “Their ambitions were on an international scale” Italian prosecutors say they have broken up an organised crime ring that was hiding trillions of dollars of fake US bonds. Worth $6 trillion, the bonds were found in

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UK and France sign nuclear energy agreement

The UK has signed a deal with France to strengthen co-operation in the development of civil nuclear energy. The government said it reiterated the UK’s commitment to nuclear energy “as part of a diversified energy mix”. The coalition said the

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