Greece's Varoufakis says confident of deal to pay IMF on June 5
Greece will repay a loan to the International Monetary Fund which falls due on June 5 because it will have struck a deal with its foreign lenders by then, the country's finance minister said on Tuesday.
The Latest on flooding: Residents evacuate homes near Austin
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China's yuan currency 'no longer undervalued': IMF
China's yuan currency, which Washington has long alleged was manipulated, is "no longer undervalued", the International Monetary Fund said Tuesday. "Our assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer undervalued," the IMF said in a statement after a consultation mission to China. The value of the yuan, also known as the renminbi, has been a source of tension for years with China's major trade partners -- led by Washington -- accusing Beijing of keeping it artificially low to give Chinese exporters an unfair competitive advantage, which Beijing denied.
In Malaysian trafficking camp, evidence of abuse and fear
By Andrew R.C. Marshall and Praveen Menon BUKIT WANG BURMA, Malaysia (Reuters) - It's a one-hour trek through thick jungle from the nearest road to the ramshackle camp along Malaysia's northern border, but for all its remoteness this was a perfect setting for human traffickers to ply their grisly trade. Prisoners could be kept alive with water from a stream running through the gully where the now-abandoned camp was nestled and, thanks to a good mobile phone signal from Thailand, they could communicate with accomplices across a trafficking supply chain that begins in Bangladesh and Myanmar. Altogether the authorities have found nearly 140 shallow graves at 28 camps strung along the border, some of which they believe were abandoned in haste after Thailand launched a crackdown on people smuggling earlier this month.
Amazon starts declaring sales to pay taxes in 4 European nations
Online retail giant Amazon said Tuesday it has started declaring sales in four European countries which would now be subject to local taxes, a move that could affect other multinationals under EU investigation for possible tax avoidance. Amazon has tax agreements in Luxembourg under which it recorded European sales and paid taxes on them in the tiny country instead of at the source. The deal had provoked howls of criticism that the Internet giant was trying to avoid taxes, and sparked a probe by the European Commission.