Tax-News.com: The German cabinet has approved its highly controversial EUR80bn 'future package', containing a raft of austerity measures designed to consolidate the public finances thereby promoting sustainable growth, and including significant cuts in social spending and rises in tax revenues.

Tax-News.com: Russian Prime Minister Vladimir Putin called into question Russia’s plans to join the World Trade Organisation by announcing his intention to raise import tariffs on automobiles.

Traders are piling into risky bets after a better than expected US labour market report reinforced hopes that the US economy can avoid sliding back into recession.

Tax-News.com: A new report by Scrutiny Jersey has warned against the 50/50 balance of tax increases to spending cuts proposed under Jersey’s Comprehensive Spending Review. Discussions on the review are ongoing to achieve annual savings in government spending of GBP50m per year by 2013, and tax increases worth GBP60m per year.

Tax-News.com: Drinks giant Diageo has joined the debate on alcohol tax reform in the UK by suggesting that all drink types should be taxed at the same rate.

BP said it had spent almost $2bn in the last month responding to its Gulf of Mexico oil spill, even as it plugged the leak, taking its total bill for the catastrophe to $8bn.

Canada’s Goldcorp has launched a C$3.6bn (US$3.4bn) cash-and-stock takeover offer for Andean Resources, trumping a C$3.4bn bid made public only hours earlier by Eldorado Gold, another Canadian miner.

Tax-News.com: The Indian Commerce and Industry Minister, Anand Sharma, has disclosed that India and South Africa are to look at the possibility of establishing a bilateral comprehensive economic partnership agreement and an investment protection and promotion agreement.

Tax-News.com: It has recently emerged that the Swiss Federal Council has adopted the administrative assistance ordinance governing the implementation of administrative assistance provisions contained in either new or revised double taxation agreements in accordance with the Organization for Economic Cooperation and Development’s standard.

Tax-News.com: It has been indicated that Pakistan’s government has made a decision, in principle, to introduce additional tax measures to generate internal revenues to provide part of the funds required for the country’s reconstruction after the devastating recent floods.

Goochland County-based CarMax Inc. has agreed to hand the creative duties of its advertising account to New York-based ad agency Amalgamated. The automotive retailer chose the agency after a three-month review. Amalgamated and CarMax are currently negotiating terms of the deal.

Goochland County-based CarMax Inc. has agreed to hand the creative duties of its advertising account to New York-based ad agency Amalgamated. The automotive retailer chose the agency after a three-month review. Amalgamated and CarMax are currently negotiating terms of the deal.

Tax-News.com: Given the country’s colossal deficit and the temporary nature of the government’s plans to cut EUR10bn in tax breaks, French Budget Minister François Baroin has reportedly indicated to parliamentarians that an increase in taxation may prove necessary following the presidential elections in 2012.

MeadWestvaco Corp. has agreed to sell its global media and entertainment packaging division for $68 million to Connecticut-based Atlas Holdings LLC. The Richmond-based packaging company's media business focused on packaging for DVDs, music and video games. It employs 1,450, and has operations in several European countries as well as the ...

MeadWestvaco Corp. has agreed to sell its global media and entertainment packaging division for $68 million to Connecticut-based Atlas Holdings LLC. The Richmond-based packaging company's media business focused on packaging for DVDs, music and video games. It employs 1,450, and has operations in several European countries as well as the ...

President Barack Obama says that a new jobs report showing private sector growth in August is positive but more needs to be done for the economy.

Fears of a double-dip recession in the US were allayed on Friday by data showing that the private sector had created 235,000 jobs in the past three months

A trade group says the U.S. service sector, which provides most of jobs in the country, expanded for the eighth straight month in August, but the pace of growth slowed.

China and the US stage near-simultaneous naval exercises this week in the oceans around the Yellow Sea in one of the most open displays of the rising competition between the two rival forces in north Asia

Rate rises as weak hiring by private employers wasn't enough to keep pace with number of people looking for work.