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Lack of winner ups Powerball payout to record $425 million Nov 25th 2012, 15:51 WASHINGTON (Reuters) - The top prize in the Powerball lottery will reach a record $425 million after no one won Saturday's drawing, a lottery official said on Sunday. Iowa Lottery spokeswoman Mary Neubauer said the jackpot was $325 million for the drawing late on Saturday. Powerball has not had a winner for two months. The $425 million record jackpot could be raised before Wednesday's drawing since big payouts tend to spur sales, Neubauer said. "We'll watch sales to see if an adjustment upwards needs to be made," she said. The cash payout will be a record $278.3 million. ... International arbitration for tax disputes, 'baseball' style Nov 25th 2012, 15:09 WASHINGTON (Reuters) - The United States is undefeated in the nearly two years since it began settling corporate tax disputes with Canada through a winner-takes-all process popularly known as baseball arbitration. Tax lawyers and accountants in both countries said the U.S. Internal Revenue Service had won three of the binding decisions and Canada none. They said the IRS had collected a significant sum of money, possibly in excess of $100 million. Launched in December 2010, the arbitrations follow the rules for resolving salary disputes between Major League Baseball players and their teams. ...

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