Tim Hortons employees prepare coffee before the company’s annual general meeting in Toronto. Burger King Worldwide is in talks to acquire Tim Hortons. The combined company would be headquartered in Canada, where Tim Hortons is based and taxes are generally lower than in the US. Photograph: Peter Jones/Reuters
Inversion express slow to crawl

President Barack Obama’s full- throated denunciation of overseas mergers that lower US companies’ taxes is throwing cold water on potential deals. On (...)

Aer Lingus closed down 1.6 per cent at €1.314 after it emerged that Denis O’Brien had sold 4.1 million shares in the airline, to reduce his stake to 2.4 per cent. Photograph: Peter Muhly/Getty

European stocks dropped to their lowest level in more than three months as concern mounted about a build-up of Russian troops along the border with(...)

Walgreens  pharmacy chain announced a  deal to acquire full control of Switzerland-based Alliance Boots – but without an inversion that could have saved the company billions of dollars in taxes. Photograph: Reuters

Billions of dollars were wiped off the value of European healthcare companies yesterday after the Obama administration threatened action to halt the w(...)

 AstraZeneca raised its sales and earnings forecasts for the year on Thursday, showing resilience after seeing off a $118 billion takeover approach from rival Pfizer two months ago. Photo: Bloomberg

AstraZeneca raised its sales and earnings forecasts for the year on Thursday, showing resilience after seeing off a $118 billion takeover approach fr(...)

AstraZeneca has boosted its lung drugs business with a $2.1 billion Almirall deal. Photo: Bloomberg

AstraZeneca has taken a major step to build up its respiratory medicine business by striking a deal worth up to $2.1 billion for the rights to Spanish(...)

A Malaysian expert (C) examines a black box belonging to Malaysia Airlines flight MH17 during its handover from pro-Russian separatists, in Donetsk.

European stocks rebounded on Tuesday with traders hoping for an easing of tensions between Russian and the West after pro-Russian rebels agreed to han(...)

A screen displays the share price for pharmaceutical maker AbbVie on the floor of the New York Stock Exchange on Friday. Photograph: Reuters

AbbVie defended plans to shift its tax residence to the UK after agreeing to buy Shire for £32 billion and urged US politicians to consider comprehens(...)

Tablets of Shire’s Adderall. Abbvie is paying about £52.48 per share for Shire. Photo: Bloomberg

US drugmaker AbbVie bought Dublin-based Shire on Friday in a $53 billion-pound deal that will allow it to slash its tax bill by relocating to Britain.(...)

Stocktake

One person expecting a bear market is Marc “Dr Doom” Faber, who last week warned that the S&P 500 was facing a 30 per cent drop. Faber famo(...)

The latest proposal is AbbVie’s fifth attempt to lure Shire into a takeover since the courtship began in May. Photograph: Simon Dawson/Bloomberg

Shire has opened the door to a takeover by US pharmaceuticals rival AbbVie after saying its board would be willing to recommend a £31 billion cash and(...)