Tag: move-overseas
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Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change
U.S. drugmaker Pfizer Inc and Ireland-based Allergan Plc walked away from their $160 billion merger on Wednesday, a major win for President Barack Obama, who has been pushing to curb deals in which companies move overseas to cut taxes. Pfizer said the decision was driven by new U.S. Treasury rules aimed at such deals, called…
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White House finds temporary fix in Zika funding fight
The White House said on Wednesday it will redirect $589 million in funds to prepare for the Zika virus before the mosquito that carries it begins to emerge in the continental United States, but urged Congress to act quickly on its request for more money. White House budget director Shaun Donovan said the use of…