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Prime Minister David Cameron wrote to the Cayman Islands and nine other U.K. territories to request action to tackle company tax evasion as Britain prepares to host the Group of Eight summit next month.
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European Union leaders struggling to find a consensus on how to overcome the debt crisis and revive economic growth will use a summit meeting this week to focus on fighting tax evasion and on the bloc’s energy policy.
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European Union leaders in the coming week will pledge to step up efforts to fight tax evasion and conclude work by year end on an updated savings-tax pact that covers how countries share data, according to draft conclusions for their May 22 summit.
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Greece’s fiscal outlook after 2014 remains “inherently uncertain” and will be the focus of negotiations between Greece and its euro-area and International Monetary Fund creditors later this year, the European Commission said.
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Russian authorities are expelling a U.S. official they accused of being a CIA officer who offered a member of the special services in Moscow as much as $1 million a year for information.
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A monumental Barnett Newman canvas fetched a record $43.8 million at a $294 million Sotheby’s auction last night, as contemporary art prices rose with stocks.
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The European Union’s push for a coordinated clampdown on tax evasion gathered pace as the number of countries backing a pilot project for automatic sharing of bank details across borders rose to 17.
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Singapore is set to conclude an agreement with the U.S. that will help financial institutions based in the city-state comply with a tax rule requiring them to share information about overseas accounts held by Americans.
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NPB Neue Privat Bank AG, a Zurich- based private bank and asset manager, said it’s part of a group of Swiss wealth managers cooperating with a U.S. probe into alleged offshore tax evasion by Americans.
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In early November, members of the U.K. Parliament assailed executives from Google Inc., Starbucks Corp. and Amazon.com Inc. for moving billions of dollars in profits into tax havens.
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