US Senator Carl Levin has introduced two bills aimed at preventing US firms from merging with a foreign company to avoid paying taxes. Photograph: Andrew Harrer/Bloomberg

Every loophole has its lover. That’s why, despite the furore that has erupted over American companies adopting foreign headquarters to reduce their(...)

 Huawei’s new smartphone, the Ascend P7, launched by China’s Huawei Technologies during a presentation in Paris yesterday. Photograph: Philippe Wojazer/Reuters

in ParisChinese tech firm Huawei has entered a new competitor in the hotly-contested smartphone market with its new Ascend P7 smartphone. Promising “e(...)

 Royal Bank of Scotland and Barclays declined at least 1.5 per cent each. Photograph: PA Wire

Stock markets paused for breath yesterday, with stocks led down by weakness in the banking sector as detail emerged of stress tests to be led by the E(...)

Markets across the world closed fairly flat yesterday, despite better than expected retail sales data in the US. (...)