The new headache of informing the taxman about assets held abroad

Spanish residents have until the end of this month to declare holdings

EDITORIAL

An urgent process of arbitration

The preferred-shares solution acknowledges the protests, but the accusation of fraud remains

Spain’s deficit hit 10.6 percent of GDP last year, EU says

Minister predicts the economy could contract by as much as 0.5 percent in 2012

LATIN AMERICA

Mexico’s states struggle with soaring debts left by their outgoing governors

Lack of transparency and corruption in loan applications threaten growth and development

MOTOGP

‘El Niño’ shows them how it’s done

Marc Márquez rides to a record-breaking win at the Grand Prix of the Americas

LATIN AMERICA

Paraguay’s Colorado Party retakes power in presidential elections

Tobacco magnate swept into office following campaign filled with criminal allegations

Securities supervisor files insider-trading report on Pescanova boss

CNMV pursuing other possible offenses by chairman of seafood-processing firm

Supreme Court annuls first mass lay-off plan since labor reform introduced

Tribunal rules company failed to demonstrate economic reasons for sackings The firm also failed to negotiate in good faith

GAMING LAWS

“Absurd and impossible to implement”

A new law is designed to let gamblers deduct their losses from taxes owed But the gambling industry says the Kafkaesque rules are unworkable

Apple, 10 problems and a single solution

Tim Cook takes the technology empire into a price war, an unthinkable notion under Steve Jobs

the sex trade

Prisoners of the brothel

Thousands of women are trafficked into virtual slavery Only a fortunate few manage to find a way back to normal society

PROPERTY MARKET

Real estate investment trusts come to the fore as property crisis persists

Tax advantages of Spanish REITs expected to attract interest of investors

ABORTION

Rift grows in Spanish Catholic Church over “right to life” debate

Bishops continue to lobby government to repeal Socialist legislation covering terminations “What is a sin for some should not become a crime for others,” say other clergy members

PP'S HIDDEN FINANCES

PP alleged to have used ghost firms to funnel donations in 1980s

Five ex-officials confirm details outlined in ex-treasurer’s documents