Angel Gurria, secretary general of the Organization for Economic Co-operation and Development (OECD): the OECD’s report suggests global FDI increased by 25 per cent to $1.7 trillion in 2015. Photograph: Molly Riley/AFP/Getty Images

Foreign direct investment (FDI) among top industrial countries almost doubled last year with large inflows recorded in Ireland, the Netherlands, Switz(...)

 US president Barack Obama: His administration   brought in new   taxation rules that blocked    pharma giant Pfizer’s takeover of Dublin-based Allergan. Mr  Obama called the law that would have enabled the inversion “one of the most insidious loopholes out there”. Photograph: Andrew Harrer/Bloomberg

So, that old US corporate taxation friend, the inversion, is gone. That’s the trick that enabled companies from far away acquire companies in Ireland(...)

The university groups that will share the payout include University College Dublin, University College Cork and the Royal College of Surgeons of Ireland. File photograph: Rui Vieira/PA Wire

New medical treatments for cancer, cardiovascular disease and rare conditions could flow from a multi-million euro research award jointly funded by Sc(...)

Pfizer chief executive Ian Read: “This deal is not just about tax benefits.” Photograph: Simon Dawson/Bloomberg

The prospect of Brexit may be nightmarish to many but one could be forgiven for thinking investors appear oddly sanguine. The FTSE has slipped in 201(...)

Sigmundur David Gunnlaugsson: forced to resign as prime minister of Iceland. Photographs: Jonathan Nackstrand/AFP/Getty Images

Public officials, world leaders, royal families, and sports stars were among those revealed this week as having squirreled vast quantities of wealth a(...)

Pfizer and Allergan:  juggling with the fallout from the US Treasury’s new rules on corporate inversions.  Photograph: Dan Kitwood/PA Wire

Pfizer and Allergan are not the only companies juggling with the fallout from the US Treasury’s new rules on corporate inversions. They’re not even th(...)

Ian Read, Pfizer chief executive, said the Treasury move was accompanied by ‘much unfortunate rhetoric’

Pfizer chief executive Ian Read has hit back at the US government over its fatal blow against the company’s plan to merge with Dublin-based rival Alle(...)

Vacant beach chairs at the Egyptian tourist resort of Sharm el-Sheikh. Photograph: Chris McGrath/Getty Images
Planet Business

Image of the week: Ghost resort It was, to be fair, only April 1st when this photograph of vacant beach chairs at the Egyptian tourist resort of Sh(...)

Ian Read, chairman and chief executive officer of Pfizer, and Brent Saunders, president and chief executive officer of Allergan. This week’s announcement was seen as being directed particularly at the Pfizer-Allergan deal. Photograph: Michael Nagle/Bloomberg

As Pfizer and Allergan bowed to the inevitable and dropped their plan for a $160 billion (€140.6bn) deal that would have seen America’s largest pharm(...)

The Obama administration has  blocked several big telecoms deals in a bid to protect competition. Photograph: Kevin Lamarque/Reuters

US companies have abandoned $370 billion of large deals since President Barack Obama came into power in 2009, after regulators in his administration b(...)