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U.S. weakens retirement advice rule, responding to industry

By Suzanne Barlyn and Lisa Lambert WASHINGTON (Reuters) – A new U.S. rule aimed at protecting retirement savers from profit-hungry brokers turned out to be much weaker than an initial proposal after the Obama administration bowed to pressure from the financial services…

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U.S. weakens retirement advice rule, responding to industry

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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 inversions. The merger would have allowed New York-based Pfizer

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Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change

160-billion

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 inversions. The merger would have allowed New York-based Pfizer to cut its tax bill by an estimated $1 billion annually by domiciling in Ireland, where tax rates are lower.

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Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change

160-billion

NY attorney general probing foreign exchange options market

By David Ingram and John McCrank (Reuters) – New York Attorney General Eric Schneiderman's office is investigating the posting of false bids and offers in the foreign exchange options market for emerging market currencies, a

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NY attorney general probing foreign exchange options market

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Icahn takes stake in Xerox, calls shares ‘undervalued’

The billionaire revealed a 7.13 percent stake in Xerox in a securities filing on Monday, making him the second-largest shareholder of the 109-year-old company. Icahn, who recently took stakes in American International Group and Freeport-McMoran Inc , said he would look at getting representation on Xerox's board, as well as pursuing strategic alternatives. “We are aware that Carl Icahn has

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Icahn takes stake in Xerox, calls shares ‘undervalued’

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Pfizer to buy Allergan in $160 billion deal

By Ransdell Pierson and Bill Berkrot NEW YORK (Reuters) – Pfizer Inc on Monday said it would buy Botox maker Allergan Plc in a deal worth $160 billion to slash its U.S. tax bill, rekindling a fierce political debate over the financial maneuver. The acquisition, which would create the world's largest drugmaker and shift Pfizer's headquarters to Ireland, would also be the biggest-ever instance of a U….

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Pfizer to buy Allergan in $160 billion deal