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EU directive on taxation of savings interest The proposed EU directive on the taxation of savings interest is now stalled by disagreements between the different EU member states over the desirability of imposing withholding tax on non-resident investors in the absence of information exchanges between their tax authorities. The proposal has attracted much criticism from financial institutions and the UK government, which has threatened to veto its adoption in its current form. EU government heads and finance ministers are, however, optimistic that a planned meeting in Brussels in June will result in a consensus being reached.

The SEC’s proposals on fair disclosure have fuelled discussions over the future relations between companies and the market. This month IFLR brings together leading voices in the debate to ask if Regulation FD really is fair

UK firm Ashurst Morris Crisp is acting as lead counsel to Atlantic Telecom on its proposed acquisition of First Telecom Group. The deal values the target company at £520 million ($775 million) and will be paid in new Atlantic ordinary shares.

At a time when Nasdaq stalwarts such as Microsoft, Lycos and Novell tumbled to record lows, May was a brave month to launch high-tech IPOs. Especially for issuers in Asia's turbulent markets. But while others such as Caripac.com and ColbyNet shelved their IPOs, a handful of companies ploughed on.

It is highly unusual for internet companies to turn a profit, a fact which is only now beginning to drive down the prices of listed web businesses. It is for this reason that most mergers involving web companies are usually funded with virtual money - stock swaps.

Internet IPOs, privatizations, and the delights of the hostile takeover made 1999 a year to remember for Italian law firms. But managing partners are facing some difficult decisions, and a wrong move could lead to their firms being shut out of booming markets. Rufus Jones reports from Rome and Milan

India’s Information Technology Bill is its first attempt to regulate e-commerce. Aparna Viswanathan of Viswanathan & Co, Advocates, asks whether the Bill eases the transition from a paper-based system to electronic commerce

Philip McBride Johnson of Skadden, Arps, Slate, Meagher & Flom looks at themove of the US futures markets towards electronic trading and argues that the implications for self-regulation are wider than have been recognized so far

What’s wrong with Mesdaq? Adeline Wong of Wong & Partners, Kuala Lumpur

As companies receive the new Purple Book from the FSA, Andrew Rosling of Theodore Goddard, London looks at the new regime for securities listing in the UK and assesses its likely implications