Russia luxury car tax seen as another step towards social justice

Russia’s luxury tax – a campaign pledge by President Vladimir Putin – is taking shape. Though attaining social equality through taxing the rich has proven tough, the Russian parliament has outlined legislation to sharply raise taxes on luxury cars.

May 22, 2013 08:49

Ceiling suspended: US takes on $300bn in new debt after hitting $16.7 trillion

America’s ticking debt bomb has been reset. Washington has suspended the debt ceiling, setting a date, and not a concrete dollar sum as a deadline, an unprecedented first in US history.

May 20, 2013 10:03

Market Buzz: Crude recovery could bump Russian floors

Russian stocks continued their slump, falling a fifth consecutive day as crude oil declined. The rouble strengthened against the dollar, closing at 31.34, and continues to gain momentum on Asian floors, currently up 0.17 percent to 31.40 at 9:41 MSK.

May 17, 2013 06:51

Netanyahu in hot water over $127k mid-air sleeping chamber amid austerity protests

Israeli Prime Minister Benjamin Netanyahu has found himself wrapped in a blanket of controversy over his posh in-flight sleeping arrangements. It comes after reports that he and his wife had a $127,000 bedchamber custom-built for a flight to London.

May 12, 2013 18:26

Thousands flood Israeli streets in anti-austerity protest

Thousands have rallied in six major Israeli cities including Tel Aviv and Jerusalem in protest against tax hikes and other austerity measures presented as part of the country’s new budget.

May 11, 2013 22:31

French defense budget cuts may hit ‘expensive’ and ‘useless’ Republican Guard

“Unable to resist attack without assistance,” is how a watchdog report described France’s prestigious Republican Guard in a damning report. It recommended the downsizing of the force amid sweeping cuts to France’s defense budget.

May 08, 2013 10:11