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Monsanto has announced that its agricultural chemical wing will be spun off after shareholder concern. Its controversial genetically modified foods division is being retained, however.

The use of the maquiladora vehicle has proved to be efficient for US corporations operating in Mexico.

And so the EU's December conference in Helsinki ended not with a bang, but a whimper.

You can't take your eye off Brazil for a second these days. Proposals for the country's long-awaited tax reform package, which looked dead in the water in November, should have been completed by January 15, according to the Brazilian government.

Japan's plans to introduce a consolidated tax system appear to have stalled. The Ministry of Finance has announced that it is doubtful that they will be able to honour the April 2001 deadline originally set.

The new recruits bring the number of lawyers to 17 since the launch of the office in November last year (see International Tax Review Dec/Jan 2000). Three of the partners, Scott Farmer, John Magee and Richard Stark, all come from Washington DC firm, Miller & Chevalier. Farmer is head of Miller's international tax practice, whilst Magee is former chair of Miller's tax practice department and was a member of the firm's executive committee. The other partner, trial lawyer David Curtin, joins from the DC office of US firm King & Spalding, where MNE&Y co-founders, William McKee and William Nelson originate.

The issue was registered with the Securities and Exchange Commission and is therefore open to US holders of Telewest shares. In a connected move, Microsoft and the Liberty Media Group acquired 51.3% of the rights issue, thereby allowing Microsoft to take a stake in Telewest.

China has announced that it intends to scale down its preferential tax policies for foreign companies.

Thirty four Celltech shares are being offered for every 100 shares of Medeva, with the new company operating under the name Celltech Medeva.

The German government has announced sweeping tax cuts which include full tax exemption on capital gains.