Germany is planning to prevent UK from voting on EU overhaul

Source: Marketwatch
© Scanpix/Reuters

According to Daily Telegraph, Germany is developing strategy how to stop UK referendum on overhaul of EU amid worries, British could disrupt Eurozone release package. German chancellor is expected to try to persuade Britain's premier David Cameron that UK does not need a poll on EU agreement changes. Nevertheless, representatives of Conservative party already are demanding to return more control rights to Britain.

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Fri, 18 Nov 2011 09:34:06 GMT

New value-added tax to be tested in Shanghai

On Thursday China's government disclosed details of testing program for new VAT in Shanghai aimed at boosting development in services sector. The VAT will also ease the pressure of tightening monetary policy on small firms. The new tax will come into effect in 1 January 2012 and it will replace current business tax for companies mainly involved in service industry.

Fri, 18 Nov 2011 15:34:36 GMT

Oil Spill near Rio de Janeiro coasts

Brazil is investigating oil spill in 120km from the coast of Rio de Janeiro state. The responsibility of the spill lies on the US company Chevron. About 600 barrels of oil shaped a slick on the water. Fortunately the spill moves away from Brazilian coast as more than 17 ships clearing up the spill. In case Chevron does not fulfill its obligations to clean

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