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  • Australia’s Ralph Committee has delivered its long-awaited report. Delight over tax cuts has been tempered by other measures. Rosie Murray-West reports
  • It's been a strange old month for Peter Mendham.
  • Heinrich Rodewig is joining the German firm Haarmann, Hemmelrath & Partner, having moved from Daimler-Benz. He will be working as tax partner in the international mergers and acquisitions group.
  • Rolls Royce will pay £576 million ($939.6 million) in a cash deal for the British engineering group Vickers. They will acquire the Vickers-owned Norwegian company Ulstein, signalling Rolls' intention to move into the marine engineering industry.
  • Sun Life and Provincial Holdings has been consulting Slaughter and May over the disposal of its Guardian Royal Exchange UK life, pensions and trust businesses.
  • Michigan-based Masco Corporation has made a series of acquisitions within the home-improvement market.
  • The US media company Viacom has bought the CBS Corporation for $35 billion, a record media deal.
  • Weil, Gotshal & Manges has been assisting Morgan Stanley on the introduction of Eurocredit, a Euro416.5 million ($436.3 million) collateralized debt obligation.
  • Hilton Hotels has announced a $4 billion takeover of the Promus Hotels Corporation.
  • LTV, America's third largest steelmaker, has bought the tubular steel manufacturers Copperweld Corporation and Copperweld Canada for $650 million.