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Contents contributed and discussions participated by Valeriu Moraru

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BBC News - Australia to hike tobacco taxes to raise $4.7bn - 0 views

www.bbc.co.uk/...business-23528697
shared by Valeriu Moraru on 07 Jan 14 - No Cached
  • Australia to hike tobacco taxes to raise $4.7bn
  • The Australian government is to increase taxes on tobacco, raising A$5.3bn ($4.7bn; £3.1bn) as it seeks to offset a revenue shortfall.
  • Prices will rise by 12.5% per year for four years starting from 1 December. The government said the move would also provide funds for treating cancer and providing stroke-related services. The Labor party is expected to update budget figures on Friday, as it prepares to announce a date for an upcoming general election.
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  • Treasurer Chris Bowen said the move would achieve "several purposes". "It will provide funds for cancer and stroke-related health services, it will deter young people from taking up smoking, and it will help return the budget to surplus," he said. It adds to Australia's move to introduce plain packaging for tobacco products in December after a landmark High Court victory again major tobacco firms.
  • Kevin Rudd, who successfully challenged Julia Gillard for the ruling Labor Party leadership last month amid dismal polling figures, has not yet specified when the election - originally set for 14 September - will be held, but it must take place by 30 November.
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BBC News - Brazil's economy shrinks 0.5% in the third quarter - 1 views

www.bbc.co.uk/...business-25200934
shared by Valeriu Moraru on 04 Dec 13 - No Cached
  • Brazil's economy shrinks 0.5% in the third quarter
  • Brazil's economy fell into contraction in the third quarter, with output shrinking by more than analysts had forecast, according to official state figures.
  • The Instituto Brasileiro de Geografia e Estatistica (IBGE) said that Brazil's economy shrank by 0.5% in the quarter, compared to the previous one. Analysts had expected Brazil's economy to shrink by just 0.2%.
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  • Andre Perfeito, chief economist at Gradual Investimentos, said he would lower his projections for next year to 2.4% or 2.5% from 2.7%.
  • "It shows that we were not able to grow despite various economic stimulus measures," he added.
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BBC News - Detroit judge rules bankruptcy process can proceed - 1 views

www.bbc.co.uk/...business-25203691
shared by Valeriu Moraru on 04 Dec 13 - No Cached
  • Detroit judge rules bankruptcy process can proceed
  • A federal judge has ruled Detroit should be granted protection from its creditors, marking the largest public bankruptcy in US history.
  • Detroit is now expected to submit a plan to rid its balance sheet of $18bn (£11bn) of liabilities.
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  • Now, the city's emergency manager, Kevyn Orr, is expected to present a plan by the end of this year for how the city will deal with its more than 100,000 creditors.
  • City officials say they hope Detroit can emerge from bankruptcy by the end of 2014.
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