Stocks in Asia were higher on Monday amid rising tensions between the U.S. and China.Asia Marketsread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Current geopolitical tensions are making it harder and harder for oil-producing nations to make decisions that will help stabilize crude prices, Russian Energy Minister...Oilread more
SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
Russian Energy Minister Alexander Novak said there were different options available for OPEC and its oil-producing allies in the second half of 2019, including a possible...Oilread more
Robert Smith announced that he and his family would set up a grant to pay off the nearly 400 graduating seniors' student loans. The total gift is estimated at $40 million.Educationread more
The outrage has even inspired a Change.org petition called "Remake Game of Thrones Season 8 with competent writers," with over half-a-million signatories and climbing.Entertainmentread more
Trump's relationships with Deutsche Bank have drawn scrutiny in Congress and elsewhere. Trump sued the bank last month to prevent it from complying with Congressional...Financeread more
The CEO of an Irish-based food conglomerate has hit back at the U.S. politicians portraying Pfizer's deal with Allergan as a tax dodge, saying that the issue was more of a "legal" one than a "moral" one.
Asked about the issue following Democratic presidential nominee Hillary Clinton's comments on Monday, Patrick Coveney, the CEO of Greencore, told CNBC that it was up to politicians to determine how countries handle their tax affairs.
"I do find it a little rich to hear politicians....making the kind of points that they are making," he said.
"Because, frankly, it is within the control of the global political system to adjust laws to deliver the outcomes that they want."
Coveney, who heads the world's largest sandwich maker, said that the recent deal between Pfizer and Allergan involved a lot of emotion and conceded that it would be difficult for politicians to adjust laws over a short period of time.
"My own view is that tax is largely a legal matter," he said, arguing that it wasn't a moral issue.
U.S. drug giant Pfizer is looking to acquire Botox maker Allergan for more than $150 billion, creating the world's biggest drug maker. As part of the deal, Pfizer plans to move its tax address from the U.S. to Ireland, by merging with the group.
This would restructure the amount of tax it pays and a similar strategy has been used by several companies over several decades. However, the move has been labeled "disgusting" by Republican front-runner Donald Trump who believes the U.S tax system should be overhauled.
Clinton, meanwhile, accused Pfizer of using legal loopholes to avoid its "fair share" of tax, according to Reuters, adding that the deal "will leave U.S. taxpayers holding the bag."
The U.S. government has been promising a crackdown on these tax inversion deals, yet it appears that major U.S. firms are still being tempted by the savings involved in snapping up smaller foreign rivals and re-domiciling themselves to avoid America's labyrinthine tax system.
Greencore, itself, has been accused of paying an effective tax rate of just 1 percent in Ireland, according to the Irish Times, due to it being U.K.-listed, Irish domiciled and using "deferred tax assets."
"For five years now, we have had very low levels of marginal tax. The function of that has been pretty straightforward, it's been driven by having a large chunk of capital allowances and unused tax losses in an equivalent business that we purchased," Coveney told CNBC.
"Because of the number of jurisdictions in which we operate, we have tax requirements in all of those and we absolutely have to adhere against that."
He stated that Ireland wouldn't be greeting the news of the Pfizer-Allergan deal with any form of glee. He said that the level of scrutiny that Ireland will now come under as a result of the announcement won't be helpful to foreign direct investment into the country, or for the political engagement between the U.S. and Ireland.
—CNBC's Catherine Boyle contributed to this report.