More companies bail on U.S. for lower taxes

CNNMoney: More companies than ever are abandoning the United States for nations with lower taxes. A new analysis found that 47 companies have relocated their headquarters overseas to take advantage of lower rates in the past 10 years through a merger process known as inversion.

 

In fourth bid, AbbVie raises offer to purchase Shire for $51.5 billion

Bloomberg: AbbVie Inc., a Chicago-based pharmaceuticals developer, made a fourth offer to buy Shire PLC, a drug company based in Ireland, raising the price to about 30.1 billion pounds ($51.5 billion) in an effort to bring Shire to the negotiating table. Buying Shire would allow AbbVie to have its tax domicile in the United Kingdom, which has a lower tax rate than the U.S.

 

Stocks slip as Dow loses hold on 17,000

Marketwatch: U.S. stocks continued their retreat from records Tuesday, with the Dow Jones industrial average undercutting 17,000 after breaking through that milestone on Thursday. The Dow dropped 51 points, or 0.3 percent, to 16,973.