Labour warns of ’squeeze’ as VAT rise bites

The rise in VAT marks the true start of the coalition’s “squeeze” on families, the Labour leader, Ed Miliband, said yesterday as business leaders warned of the potential damage of the tax increase to a fragile economy.

China says it can reprocess spent nuclear fuel

Chinese scientists say they have developed nuclear fuel reprocessing technology that could effectively end uranium supply concerns, state media said Monday, as Beijing strives for energy security.

Blood test for cancer gets US boost

Pharmaceutical giant Johnson & Johnson said Monday it is partnering with US doctors to improve a blood test for cancer that could do away with biopsies and transform the field of cancer treatment.

EU investigates controversial Hungary tax

The European Commission on Monday said it was investigating whether a Hungarian “crisis” tax upsetting major European firms was in compliance with rules set by the bloc — currently chaired by Budapest.