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France Slaps 7B Euro Taxes On Rich And Big Firms

France's new Socialist government announced tax rises worth 7.2 billion euros on Wednesday, including heavy one-off levies on wealthy households and big corporations, to plug a revenue shortfall this year caused by flagging economic growth.

Thinking About Buying A US Home? Think Carefully

U.S. Housing Sector
U.S. mortgage interest rates for 30-year, fixed loans are at/near 40-year lows. Further, while there's nothing like owning a home, for several reasons 'this is not your father's housing market.' There are pitfalls and pratfalls, and prospective buyers would be wise to review these five tips before taking the plunge.

Citibank India Reports 35% Surge In FY12 Net Profit

Citibank to lose billions
The Indian division of the U.S.-based Citibank Tuesday reported a 35 percent rise in its net profit in 2011-2012 fiscal year, driven by robust growth in their corporate and retail banking and mortgage businesses, the bank said in a statement.
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China's June Official Services PMI Up To 3-Month High

China's services sector expanded at its fastest pace in three months in June, an official survey showed on Tuesday, but left intact market expectations that Beijing will deliver more policy measures to support growth in the near future.
Mervyn King

Bank Of England Cracks Down On Cheating Banks

The Bank of England (BoE) is cracking down on large financial institutions to prevent them from cheating businesses and consumers worldwide -- a practice that has put a $360 trillion global financial market at serious risk for several years.
Euro Zone

Euro Summit Agrees On Bank Rescue

European leaders established Friday a set of measures to address the euro zone debt crisis, including an agreement to allow some rescue funds to be sent directly to struggling banks instead of adding to the public debt of reeling economies.
Indian Prime Minister Manmohan Singh

GAAR: India May Not Go For Retro-Taxing Of Overseas M&A

A committee which was formed to give recommendations on the implementation of the controversial general anti-avoidance rules (GAAR) provisions in India released its draft guidelines Thursday night. The draft guidelines have clarified that the GAAR will not be applied retrospectively.

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