Business economists reported solid but slowing growth at their companies over the summer as gauges of sales, hiring and profit margins fell slightly from the second quarter, according to survey results released Monday.
Federal Reserve Chairwoman Janet L. Yellen raised alarms Friday about rising income inequality in the U.S., saying it "greatly" concerned her and suggesting the trend was incompatible with American values.
The board of directors of Illinois drug maker AbbVie Inc. recommended that shareholders reject the acquisition of European rival Shire, saying recent changes to U.S. tax rules eliminated some of the financial benefits of the $52-billion deal.
Initial claims for jobless benefits fell sharply last week to their lowest level in 14 years as the labor market continued to show signs of improvement despite global economic problems.
The board of directors of Illinois drug maker AbbVie Inc. has recommended shareholders vote against the acquisition of European rival Shire, saying recent changes to U.S. tax rules eliminated some of the financial benefits of the $52-billion deal.
New tax provisions designed to discourage U.S. companies from moving their headquarters to overseas tax havens may be having an effect.
Illinois drugmaker AbbVie Inc. said it would reconsider the planned purchase of European rival Shire after the Obama administration recently changed U.S. tax laws to make it less financially appealing for companies to restructure abroad.
Bowing to pressure from U.S. and European officials, Ireland will phase out a notorious loophole that helps multinational corporations legally dodge billions of dollars in taxes in their homelands.