For your diary

TODAY Results: Aryzta; GameAccount Network. Meetings: Offsite business and technology event (Celtic Ross Hotel, Co Cork). Indicators: Euro zone indust(...)

The Obama administration has begun a crackdown designed to curb tax avoidance by US companies moving to low-tax countries with new rules aimed at stemming the pace of “corporate inversions”. Photograph:  Shawn Thew/EPA.

The Obama administration has begun a crackdown designed to curb tax avoidance by US companies moving to low-tax countries with new rules aimed at stem(...)

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 (...)

Medtronic, the Minneapolis-based device maker, said in June it will pay about $42.9 billion for Dublin-based Covidien in a tactic partly aimed at freeing $14 billion of overseas cash.

Speculation Medtronic will modify its offer for Covidien as sentiment worsens toward tax inversions is fueling demand for bearish options. Covidien co(...)

A T-Mobile logo being positioned on a shop front. Shares in Deutsche Telekom fell as much as 5 per cent to a 16-week low on Wednesday. Photograph: Kacper Pempel/Reuters

Tuesday, August 5th, 2014 is likely to go down as one of the darker days in the history of Wall Street’s mergers and acquisitions market.In the space (...)

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(...)

 Walgreen will buy the 55 per cent it does not already own of European rival Boots, but the US company will not use the deal to move its tax domicile overseas. Photo: Matt Kavanagh

US retailer Walgreen has backed away from a plan to reincorporate abroad to cut its US tax bill, while the Obama administration said it was consideri(...)

Does this mean President Barack Obama is wrong to describe companies engaging in inversion as “corporate deserters”?  Photograph: Reuters

In recent decisions, the conservative majority on the US supreme court has made clear its view that corporations are people, with all the attendant ri(...)

More than 70 US companies have shifted their tax domiciles to foreign addresses since 1983, mostly relocated their headquarters to Ireland, the UK, the Netherlands and Switzerland. Photograph: Reuters

The attraction of Ireland’s low-cost tax regime to American multinationals has again come under the spotlight in the US Congress after a new report fo(...)

AstraZeneca shares tumbled more than 11 per cent, helping to pull both the FTSE 100 in London and the pan-European FTSE Eurofirst 300 equity indices down 0.2 per cent.

Fresh uncertainty over the prospects for the Chinese economy and renewed worries about current equity valuations made for a cautious day in the market(...)