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  • The Canadian government has cherrypicked from the Mintz Report to introduce a series of reforms to Canada's thin capitalization rules. Elinore Richardson of Stikeman Elliott, Montreal, outlines the changes and reviews the rationale behind them
  • Opportunity to be creative attracts new recruit Dolan
  • India has backtracked on threats to end capital gains exemptions for foreign institutional investors.
  • Sullivan & Cromwell in New York is working on the deal for Dexia. Tax partner Andy Solomon and tax special counsel Rich Alpern were assisted by associates Rebecca Coccaro, Ted Markson and David Spitzer. Michael Schler of Cravath, Swaine & Moore is advising FSA Holdings.
  • Despite EU complaints to the World Trade Organization being upheld, the debacle over alleged illegal exports subsidies being achieved by US foreign sales corporations looks no closer to resolution
  • The UK petrochemical company BP Amoco has made a $4.7 billion offer for the chemical group Burmah Castrol.
  • Mortgage bank, Northern Rock, achieved the second phase of its planned £1.5 billion ($2.35 billion) mortgage securitization with a £750 million issue of floating rate notes.
  • The French advertising group Havas has bought the US company Snyder Communications for $2.1 billion. The deal is a stock transaction, with each Snyder share valued at $29.50. This latest acquisition makes Havas the fourth-largest advertising agency in the world.
  • Ernst & Young used five law firms around the world in the sale of its global management consulting group to Cap Gemini. The sale still has to be approved by Ernst & Young partners, requiring a qualified majority of all partners and at least 75% of the management consulting group's partners to give their consent. The results should be known in April.
  • The Californian internet group Quintus Corporation is to buy the e-mail management company Mustang.com.