Democratic Sen. Ron Wyden says some conservatives believe the recent wave of inversions hurts Congress' ability to revamp the tax code.» Read More
Senators Sherrod Brown and Dick Durbin on Friday released details of a bill that would require foreign earnings that have not been repatriated, or brought into the United States, to be taxed as income at the point when a U.S. company inverts.
NEW YORK, Sept 16- Some of the top 20 investors at Salix Pharmaceuticals Ltd are threatening to vote down a proposed deal to buy a unit of Cosmo Pharmaceuticals SpA, and are pressing Salix to consider selling itself instead, people familiar with the matter said on Tuesday.
WASHINGTON, Sept 16- The U.S. Senate's top Democratic tax-writer said on Tuesday he is considering linking legislation to curb foreign corporate buyout deals known as inversions with separate efforts to renew expired tax breaks that businesses want extended.
TORONTO, Sept 16- McDonald's Corp is making its McCafe ground coffee available in Canadian grocery stores this month, the fast-food giant said on Tuesday, part of its broader campaign to win market share in a country long dominated by rivals like Tim Hortons Inc and Starbucks Corp..
TORONTO, Sept 15- Canadian coffee and doughnut chain Tim Hortons Inc on Monday reported strong same-store sales growth in both the United States and Canada for the third quarter to date.
TORONTO, Sept 15- Canadian coffee and doughnut chain Tim Hortons Inc on Monday reported strong quarterly same-store sales growth in both the United States and Canada.
WASHINGTON, Sept 12- Corporations should be on notice that government action is coming on "inversion" deals done by U.S. businesses that reincorporate abroad to cut their tax bills, said the top Democratic tax-writer in the House of Representatives on Friday.
Senator Orrin Hatch, the top Republican on the tax-writing Finance Committee, said billionaire investor Warren Buffett called him recently to find out what Congress might do about companies that move abroad for tax purposes.
NEW YORK, Sept 11- U.S. specialty drugmaker Akorn Inc is exploring a bid for Belgian drugmaker UCB SA's U.S. subsidiary, a deal that would allow the company to move its tax domicile overseas in a practice known as inversion, according to people familiar with the matter.
WASHINGTON, Sept 8- The No. 3 U.S. Senate Democrat has circulated a draft proposal to crack down on U.S. companies that invert, or merge with foreign competitors to get lower tax rates, and it would apply to deals as far back as 1994..
He said the best way to address the issue is for Congress to overhaul the U.S. tax code making it more attractive for companies to stay in the U.S. With tax reform facing an uncertain future in Congress, Lew pressed lawmakers to pass legislation making it harder for U.S. companies to pull off corporate inversions.
LONDON, Sept. 2- Burger King may have taken a lot of flack in the past week for a deal that should curb its U.S. tax bill but in many ways it is consistent with the burger chain's aggressive tax-reduction strategies in recent years. They say it will allow Burger King to avoid paying some U.S. taxes.
After news Burger King is buying Tim Hortons, the "Street Signs" crew ask one of Burger King's franchisees Gavin O'Neill, how this could impact business.
To call Burger King and Tim Hortons's tie-up a tax inversion deal is "totally missing the point", says Jason Moser, Senior Analyst at The Motley Fool.
So Buffett's participation in fast-food chain Burger King Worldwide Inc's purchase of coffee and doughnut chain Tim Hortons Inc- complete with relocation of Burger King's domicile to Canada- might at first blush raise questions about his patriotism.
Burgers, Canadian donuts and Warren Buffett? The proposed deal between Burger King and Tim Hortons caused a flurry of headlines Tuesday. Here's what you need to know about it.
Stocks rose on Tuesday after a report had orders for durable goods jumping far more than expected in July.
Contrary to what many observers have speculated, Burger King won't be able to justify much of the Tim Hortons deal through tax advantages.
Here are key things Burger King needs to focus on to avoid a customer backlash over its proposed Tim Hortons merger, says brand expert Leeann Leahy.
Here's how you incentivize companies to do business in the US, not head to Canada like BK, says Michael Yoshikami.