- Doubling Bonus Taxes in U.K. Sends British Bankers to Accountants, Lawyers U.K. bankers, faced with a potential doubling in tax on the stock component of their bonuses, are asking lawyers and accountants if they can escape the plans.
- Geithner Meeting Barnier Over Basel III Creates Pressure on Banks' Capital Two days after European Union leaders announced an almost $1 trillion plan to shore up debt markets, Michel Barnier, the EU’s financial services commissioner, was eating scones and sipping coffee with Timothy F. Geithner.
- Recovery Rewards U.S. Investors as Jobless Deny Historical Rebound The U.S. economy may return to its pre-crisis peak next quarter after a recovery former Federal Reserve official Peter Hooper calls “surprisingly strong, historically weak,” which has seen corporations and the rich prosper while small companies and the unemployed struggle.
- Glaxo Plays Catch-Up to Pfizer, Sanofi With Emerging Markets `Land Grab' GlaxoSmithKline Plc plans to double revenue from India and China by 2015 as the drugmaker cuts prices to catch up to Pfizer Inc., Sanofi-Aventis SA and Novartis AG in emerging markets.
- Morgan Stanley Shorted Doomed Baldwin CDOs Lacking `Natural' Curbs on Risk In June 2006, a year before the subprime mortgage market collapsed, Morgan Stanley created a cluster of investments doomed to fail even if default rates stayed low -- then bet against its concoction.
- American Companies Dodge $60 Billion in Taxes Even Tea Party Would Condemn Tyler Hurst swiped his debit card at a Walgreens pharmacy in central Phoenix and kicked off an international odyssey of corporate tax avoidance.
- Exporting Profits Imports U.S. Tax Reductions for Pfizer, Lilly, Oracle Over the past three years, Pfizer Inc. was an earner without profit in its own country.
- Scratch & Win War on Africa's Counterfeit Malaria Medicines Gets Under Way At 12:30 p.m. on May 6, Ampem Dankwah sends a cell-phone message from the lobby of a downtown cafe in Accra, Ghana: “GH4F9H84B4.” His text opens a front in the war on sham malaria drugs.
- Erdogan Visit May Smooth Path for Greek Defense Cutbacks to Reduce Deficit Fear of Turkey’s army led Greece to become the European Union’s biggest military spender as a share of the economy in the past decade. Now, détente between the neighbors offers Prime Minister George Papandreou a route to squeeze extra savings from his country’s army.
- World's Largest Tea Company Amasses $250 Million Fund to Grow Even Bigger McLeod Russel India Ltd., the world’s biggest tea grower, plans to use rising prices to build a “war chest” of as much as $250 million to acquire companies.
Bloomberhg Daily News 17th May 2010
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