To cover the costs of the ongoing economic crisis, a Tobin-type financial transactions tax (FTT) on bonds and shares has been proposed for the European Union to be introduced not later than 2014.

It may not be the most pressing issue European leaders should focus on at the moment. But the idea of a financial transactions tax, long favoured by the leftist anti-globalisation brigade, is back.

U.S. conglomerate Tyco International plans to split into three publicly traded companies, positioning itself for expected consolidation in its diverse businesses and potentially making it easier