Tax Favors Wealthy in London's Billionaires Row

Oct. 25 (Bloomberg) -- Billionaires living in London's Kensington pay only 32 pounds ($51) more tax on their mansions than the families living just around the corner in their rented 3-bedroom rowhouses. The disparity prompted the coalition government’s Liberal Democrats to push for a so-called mansion tax of 1 percent a year for homes valued at more than 2 million pounds. Their coalition partners, the Conservative Party, rejected the idea. (Source: Bloomberg)
Italian Bank Exposure to Greece Is 'Limited': Sabatini
05:40 - The exposure of Italian banks to Greece is "extremely limited," according to Giovanni Sabatini, director general of the Italian Banking Association, or ABI. He spoke in an interview with Flavia Rotondi in Rome on Tuesday. (Source: Bloomberg)
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