TAXATION:The US policy of taxing corporate profits earned overseas is deterring companies from hiring workers and is holding back business investment, according to Irene Rosenfeld, chief executive of Kraft Foods.

“I think certainly, for a multinational like ours, the issue of tax reform is really important,” Ms Rosenfeld said. “Right now, we are taxed twice on income that we earn outside the United States, and that has an impact on how we think about our investment decisions.” She said revisiting the corporate tax structure was the most important thing that the next presidential administration could do to help create jobs.