Establishing a tax domicile abroad to avoid taxes is popular, but many US companies have failed to produce strong returns for investors.» Read More
May 27- Omnicom Group Inc's media services division signed a deal worth $230 million with Twitter Inc that will integrate Omnicom's automated ad buying unit Accuen with Twitter's mobile ad exchange MoPub.
Take a look at some of Tuesday's midday movers:
Corporations should not be able to dodge taxes by moving oversees, Rep. Sander Levin, D-Mich., told CNBC's "Closing Bell" Wednesday.
WASHINGTON, May 20- Taking aim against corporate tax avoidance, Democrats in the U.S. Congress called on Tuesday for curbs on U.S. multinationals that shift tax domiciles abroad in deals known as "inversions."
While still rare, the deals are becoming more common, with two recently attempted transactions by Pfizer Inc and Omnicom Group Inc drawing attention to the strategy. The bill, to be introduced also in the House of Representatives, was unlikely to become law any time soon, because Congress is deadlocked on fiscal issues, policy analysts said.
WASHINGTON, May 19- Corporate tax-dodging deals known as inversions, in which a U.S. multinational shifts its tax domicile to a lower-tax country, would be restricted under legislation to be proposed in both houses of Congress by Democrats on Tuesday. Representative Sander Levin and Senator Carl Levin, brothers from Michigan, will both propose bills, aides said.
May 19- French advertising agency Publicis Groupe SA and Facebook Inc have struck a multi-year digital marketing deal worth hundreds of millions of dollars, according to a person familiar with the matter.
Publicis Groupe has won a digital marketing deal with Facebook worth about $500 million including spending, Ad Age reported Monday.
May 19- France's Publicis Groupe SA has won a digital marketing deal with Facebook Inc worth about $500 million including spending, website Ad Age reported citing an executive familiar with the matter.
NEW YORK, May 18- Mergers of equals were largely dead long before ad giant Omnicom Group Inc struck its ill-fated $35 billion deal with rival Publicis Groupe SA.
*Says government doesn't rule out taking a stake in Alstom. The government gave itself the power to block takeovers in "strategic" sectors on Thursday, throwing up a potential roadblock to U.S conglomerate General Electric's $16.9 billion bid for Alstom's power business.
NEW YORK/ LONDON May 11- The collapse of the $35 billion merger of New York- based Omnicom with France's Publicis is likely to lead the world's biggest ad agencies to think small as they try to counter the challenge from internet giants like Google.
*Apple reportedly close to deal for Beats Electronics. Apple Inc was the biggest drag on both the benchmark S&P index and the Nasdaq 100 on news it is close to paying a record $3.2 billion for Beats Electronics, two people with knowledge of the matter said, an expensive foray into music streaming and headphone gear. Apple shares lost 1.2 percent to $581.
Wal-Mart should face lawsuit over alleged Mexico bribery- U.S. judge. Wal-Mart Stores Inc should face a U.S. lawsuit accusing it of defrauding shareholders by concealing suspected corruption at its Mexico operations, even after learning that a damaging media report detailing alleged bribery was being prepared, a federal judge says.
Publicis CEO Maurice Levy has told CNBC that the decision to call off a $35 billion merger with U.S.-based Omnicom was "an issue of principle."
LONDON/ NEW YORK/ PARIS May 9- The $35 billion merger of U.S.-based Omnicom and France's Publicis collapsed on Friday after a battle for control destroyed plans to create the world's largest advertising agency. "I have not been able to convince John that balance is balance," Publicis Chief Executive Maurice Levy said of his Omnicom counterpart John Wren.
*Apple reportedly close to deal for Beats Electronics. *Apple Inc is close to paying a record $3.2 billion for Beats Electronics, two people with knowledge of the matter said, an expensive foray into music streaming and headphone gear. Apple shares slipped 0.7 percent to $583.91 while Internet radio provider Pandora Media Inc lost 2.5 percent to $64.52.
U.S. stock index futures pointed to a lower open on Wall Street on Friday, ahead of first quarter results from Liberty Interactive and Ralph Lauren.
LONDON, May 9- U.S. drugmaker Pfizer is under fire on both sides of the Atlantic as it weighs its next move to buy British rival AstraZeneca, which could be a sweetened offer next week.
Some of the names on the move ahead of the open.