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The U.S. Treasury Department said on Thursday it has signed six more anti-tax evasion pacts with foreign governments, including several jurisdictions previously criticized as tax havens. The agreements were completed this past week with Bermuda, Malta, the Netherlands and three UK Crown Dependencies: Jersey, Guernsey and the Isle of Man, the department said. The agreements are part of a U.S. effort to enforce the Foreign Account Tax Compliance Act (FATCA), enacted in 2010 and set to take effect next July. FATCA requires foreign financial institutions to tell the U.S. Internal Revenue Service about Americans' offshore accounts worth more than $50,000.
A way of fighting cancer that turns the body's immune cells into targeted tumor killers was named the breakthrough of the year by the US journal Science on Thursday. Immunotherapy has only worked for a small number of patients, and only in certain cancers, including melanoma and leukemia, but experts believe its promise is huge. "Oncologists, a grounded-in-reality bunch, say a corner has been turned and we won't be going back," said the journal Science.