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Detroit’s Big Three accelerate plans to build more small cars in Mexico
By Paul Lienert and Joseph White DETROIT (Reuters) – Detroit’s Big Three automakers are accelerating plans to produce more small cars for the North American market in Mexico as they seek to reduce labor costs, while using higher-paid U.S. workers to build their very profitable trucks, sport utility vehicles and luxury cars. New versions of several of their popular U.S. compact cars are… View... [Read more]
How Pfizer has shifted U.S. profits overseas for years
By Tom Bergin and Kevin Drawbaugh RINGASKIDDY, Ireland (Reuters) – Drugmaker Pfizer's plans to take over Allergan have faced a political backlash in the United States over fears a deal would lead to the company shifting its headquarters and taxable profits to Ireland. Pfizer and Allergan are in talks to create the world's biggest drug company by market value and analysts expect a deal... [Read more]
How Pfizer has shifted U.S. profits overseas for years
By Tom Bergin and Kevin Drawbaugh RINGASKIDDY, Ireland (Reuters) – Drugmaker Pfizer's plans to take over Allergan have faced a political backlash in the United States over fears a deal would lead to the company shifting its headquarters and taxable profits to Ireland. Pfizer and Allergan … See the original post: How Pfizer has shifted U.S. profits overseas for years Read More →
Pfizer-Allergan deal refocuses market on U.S. tax-inversion rules
Pfizer Inc's buyout bid for Allergan Plc has financial markets on edge over a possible new move by the U.S. Treasury Department against tax-inversion deals, but the outlook for any such Here is the original post: Pfizer-Allergan deal refocuses market on U.S. tax-inversion rules Read More →
American Airlines delays Paris flights; United operates as planned
American Airlines Group , the world's biggest carrier by passenger traffic, said on Friday it was delaying flights to Paris in response to the explosions and shooting attacks there, even though French airports remained open. “Currently Charles de Gaulle International Airport is open, however, we are holding our remaining departures this evening to Paris until we have additional information,”... [Read more]
Tycoons, telecoms and Trotsky: book lifts veil on Carlos Slim
Carlos Slim's brother interrogated leftist rebels for Mexico's intelligence agency while his eldest son often hands out a biographical novel about Leon Trotsky as a gift, according to a new book on the tycoon who was long the world's richest man. The biography, by far the most comprehensive written on Slim, seeks to show how the Mexico City businessman navigated local politics to become... [Read more]
Syngenta rejects $42 billion ChemChina offer: Bloomberg
(Reuters) – The world's largest agrichemicals company, Syngenta AG , has rejected a $42 billion takeover offer by state-owned China National Chemical Corp, Bloomberg reported on Thursday, lifting Syngenta's shares. Syngenta is under… Originally posted here: Syngenta rejects $42 billion ChemChina offer: Bloomberg Read More →
U.S. retail sales weak; inflation pressures remain subdued
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales rose less than expected in October amid a surprise decline in automobile purchases, suggesting a slowdown in consumer spending that could temper expectations of a strong pickup in fourth-quarter economic growth. Weak inflation and signs of slowing consumer spending could complicate the Federal Reserve's decision next month whether... [Read more]
Alibaba’s Singles’ Day sales surge 60 percent to $14.3 billion
By Paul Carsten BEIJING (Reuters) – Alibaba Group Holding Ltd's total value of goods transacted during its Singles' Day shopping festival was 91.2 billion yuan ($14.32 billion), the Chinese e-commerce giant said in Beijing on Thursday. The results are preliminary and unaudited, Alibaba said. Six years ago, Alibaba turned Nov. 11 into China's equivalent of United View original... [Read more]
Blackstone to take minority stake in NCR Corp: source
(Reuters) – Blackstone Group LP has agreed to invest more than $800 million in NCR Corp that will give it the equivalent of more than a 15 percent stake in the automated teller machines maker, a source familiar with the matter said on Wednesday. Duluth, Georgia-based NCR plans to announce details of the deal with Blackstone, the world's largest private equity firm, by Thursday, the source... [Read more]