News Headlines - 12 June 2012

▽AFP: Church of England warns against gay marriage plan

The Church of England objected on Tuesday to government proposals to legalise gay marriage, saying it could harm centuries-old links between it and the British state. The church -- whose supreme governor is Queen Elizabeth II -- warned that it could be forced out of its traditional role of conducting weddings on behalf of the state.

▽MoD struggling to reduce Army by 20,000 despite biggest redundancy cull for decades - Telegraph

Military chiefs are still struggling to reduce the Army by 20,000 as part of cost-saving defence cuts despite the biggest round of redundancy in two decades, the Defence Secretary said today.

▽Spanish, Italian Yields Leap Higher - WSJ.com

The euro-zone debt crisis deepened Tuesday as an ominous rise in Spanish government bond yields fanned speculation that the country might need a bailout of its own, just days after Spain said it would seek a support package for its beleaguered banking system.

▽IMF calls on Japan to reform tax rates - FT.com

Japan has come under renewed pressure to tackle its huge public debt with the International Monetary Fund calling on the government to raise the national consumption tax to at least 15 per cent.

▽The Press Association: TomTom shares surge on Apple deal

Shares in Dutch navigation device maker TomTom have surged on news that the company is to supply map data to Apple. They rose 12% to 3.65 euro (￡2.96) in Amsterdam. TomTom said it had struck a deal to supply the US hardware giant with "maps and related information" but will not disclose any other information.