Luxembourg | featured news

Luxembourg says it will exchange information with the rest of Europe to help fight tax evasion. The initiative, which is to start in 2015, follows international pressure on Luxembourg to end its policy of banking secrecy that critics say has helped people hide money from tax authorities. Luxembourg, a tiny country of half a million people, boasts a huge financial industry with more than 3 trillion euros ($4 trillion) in assets.

Andy Schleck of Luxembourg tried to wrest control of the Tour de France with a daring ride Thursday, but Thomas Voeckler of France would not yield his overall lead.

Eurozone finance ministers meet in Luxembourg, where they are expected to approve a 12bn-euro (£10bn) loan to debt-stricken Greece.

The Government Accountability Office likes to point its finger at Luxembourg and the Cayman Islands for sheltering tax cheats. But according to the U.K.-based Tax Justice Network, the United States is the biggest tax shelter of 'em all, thanks to the great state of Delaware.