The United Kingdom will institute an additional 50% tax on any bonuses above 25,000 British pounds this year. The tax is intended to recoup taxpayer support to help the banks when they were failing earlier this year, BBC News. Bankers say the tax may make them consider leaving London, Bloomberg.
A split has emerged between smaller, developing countries and larger, developed countries at the Copenhagen climate change summit. Small island nations and poor countries in Africa are likely to be most affected by climate change and want stringent legal measures added to the agreement, BBC News. China is the world’s biggest emitter of greenhouse gases, but grassroots movements are trying to green the country, al Jazeera. Climate change is growing China’s Gobi desert, al Jazeera.The first decade of the 21st century, 2000-2009, was the hottest decade in recorded history, ABC News.
A tentative agreement in the U.S. Senate would drop a government-run healthcare plan from the Senate’s version of the healthcare reform bill and instead expand Medicare coverage, the government’s healthcare program for the elderly, to those over 55. The bill still needs to be reconciled with the healthcare bill from the U.S. House of Representatives and then signed by President Barack Obama, Wall Street Journal.