Business bites: Sarkozy confirms financial transaction tax

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The French President Nicolas Sarkozy has confirmed that he wants a financial transaction tax to be in place by August.

The tax would be set at a rate of 0.1% and it is thought it would only be applied to share trading.

It was announced as part of a package of new measures to boost the economy - and his chances of re-election this April.

Meanwhile, Iran warns it may stop selling oil to some European countries.

The BBC's Aaron Heslehurst discusses key financial stories of the day.

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