US Democratic presidential candidate Hillary Clinton will unveil proposals to deter US companies from shifting profits overseas, including an “exit tax” to penalise firms that perform so-called tax inversions, a campaign official said.
AIB All-Ireland Club SHC semi-final: Gort v Ballyhale: Gort hurling captain Greg Lally is the team’s indisputable leader since the emigration of former captain Andy Coen to Canada last year and he will be expected to lead the side from centre-back in tomorrow’s All-Ireland Club SHC semi-final against Ballyhale Shamrocks.
Covidien plc, the Irish maker of surgical accessories and operating-room products, was sued by a shareholder over claims the company’s planned sale to US competitor Medtronic will enrich directors and managers by almost $96 million (€72.7m) in cash at the expense of investors.
Salix Pharmaceuticals has agreed to buy the patents to some drugs for gastrointestinal diseases from Cosmo Pharmaceuticals for about $2.7bn (€1.98bn) in stock in a deal that will allow the US company to move to Ireland and lower its tax bill.
US medical device maker Medtronic Inc has said it agreed to buy Dublin-based Covidien Plc for $42.9bn (€31.6bn) and shift its executive headquarters to Ireland in the latest move by US firms to harvest lower corporate tax rates abroad.