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Europe closes in on tax havens; Austria agrees to swap bank data

BRUSSELS - Europe moved closer to ending banking secrecy on Wednesday after Austria dropped objections to sharing data on foreign depositors and the EU focused on negotiating a similar agreement with Switzerland.

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Ireland feels the heat from Apple tax row

DUBLIN - Ireland called on Wednesday for an international clampdown on multinationals shifting profits around the world to avoid tax, after criticism that Irish loopholes helped technology giant Apple to shrink its tax bill.

Media, iPad, Ireland 8:23am EDT

Sony to assess spin-off plan; cuts targets for cameras, smartphones

TOKYO - Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17 percent for the year to end-March 2015, but said there were "encouraging" signs of a revival in its electronics business.

Media 3:29am EDT

Pearson agrees $75 million settlement in U.S. e-books case

LONDON - Pearson's Penguin said on Wednesday it would pay $75 million in damages plus costs and fees as part of an agreement with the United States over alleged price-fixing in the e-book market.

10:28am EDT

Video game maker Atari seeks court approval for sale of assets

- Video game maker Atari Inc is seeking court approval for the sale of all its assets as it works its way out of bankruptcy protection.

11:07am EDT

Telefonica cuts handset prices to win back Spanish clients

MADRID - Spanish telecoms operator Telefonica lowered prices on smartphones by between 15 and 30 percent in its domestic market on Wednesday to fight increasing competition in the recession-hit country.

11:06am EDT

MediaFile

How Tumblr might ‘screw up’ Yahoo

The Yahoo-Tumblr deal’s most pressing issue isn’t what will come of balance sheets, it’s what will come of each organization’s corporate culture.

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