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Papers: Obama proposes US$10 per barrel oil tax

Published: 07:21 05 Feb 2016 GMT

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President Obama is proposing a bold US$10 per barrel tax on oil, reports the FT, though Republicans say it will never be enacted.

The suggestion sparked a backlash from an energy industry already squeezed by low prices and is likely to force Democratic candidates for president to sharpen their positions on energy. 

The anti-European Union campaign has stretched its lead after the public rejected David Cameron’s deal on reforms, according to a poll for The Times. The YouGov survey found that 45% of people will vote to leave the EU compared with 36% who want to remain. 19% were undecided.

Apple has been handed a US$625mln legal bill after a court ruled that it used patented security software in its FaceTime and iMessage software without permission, reports the Times.

Regulators on Thursday launched an inquiry into Age UK following claims that the charity has profited from marketing energy deals with supplier Eon to older people. The FT reports that UK’s largest charity for the elderly has made millions of pounds in the past year by promoting energy, insurance and funeral care plans to pensioners.

The Bank of England has signalled that weaker UK growth and an "unforgiving" global environment will keep interest rates on hold for at least another year, as its most hawkish member abandoned a call for higher rates, writes the Telegraph.

Hasbro has held talks with Mattel about a merger that would create one of the largest toy makers in the world, the Telegraph reports.

Hasbro approached its rival at the end of last year, it is claimed, with a view to creating a single company with control over global brands such as Barbie, Hot Wheels and My Little Pony.

Lord King has joined the board of Aston Villa, which is languishing at the bottom of the Premier League. The 67-year-old former governor of the Bank of England is a lifelong Villa fan, having grown up in the West Midlands town of Worcester, the Mail writes.

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