France introduces new tax on high incomes

France introduces new tax on high incomes   The French government is to impose an extra tax of 3% on annual income above 500,000 euros (£440,000; $721,000).It is part of a package of measures to try to cut the country's deficit by 12bn euros over two years. The tax increase came after some of France's wealthiest people had called on the government to tackle its deficit by raising taxes on the rich. Paris has also reduced its economic growth forecast for 2012 to 1.75% from a previous 2.25%. 'Rigorous' And it has cut its 2011 growth forecast from 2% to 1.75%, Prime Minister Francois Fillon has said. He said the new tax would remain...

Libya crisis: Doha meeting seeks to raise $2.5bn aid

Libya crisis: Doha meeting seeks to raise $2.5bn aidA donors' meeting is being held in Doha, capital of Qatar, to raise funds for Libya's National Transitional Council (NTC).  The target is to raise $2.5bn (£1.5bn) to pay the salaries of government workers as well as funding treatment for people injured in the fighting. Countries represented are the US, the UK, Turkey, Germany, France, Italy and Qatar. The fighting has brought the economy to a near standstill. 'Responsibilities' Production of oil, Libya's main export, has fallen from 1.6 million barrels a day to fewer than 100,000. "The countries in the contact group must ensure...