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Jack Lew

A collection of news and information related to Jack Lew published by this site and its partners.

Top Jack Lew Articles

Displaying items 12-22
  • Rating firms ponder Medtronic downgrades over new tax rules

    MINNEAPOLIS Two Wall Street rating firms expect to downgrade Medtronic Inc.'s debt because the company will have to borrow $13.5 billion more than it expected to buy health care supplier Covidien and move the combined company to Ireland. The changes in...
  • Long-term unemployment persists

    Long-term unemployment persists
    Leticia Vives thought her rise from teller to senior teller to manager during 23 years at Bank of America had earned her staying power, or at least the experience to find work elsewhere. Still jobless 18 months after being let go in a downsizing move,...
  • AbbVie reconsiders Shire purchase, cites tax inversion crackdown

    New tax provisions designed to discourage U.S. companies from moving their headquarters to overseas tax havens may be having an effect. Drug maker AbbVie Inc. said Wednesday that it is reconsidering its planned purchase of European rival Shire and...
  • AbbVie reconsiders Shire deal after U.S. move to curb tax inversions

    AbbVie reconsiders Shire deal after U.S. move to curb tax inversions
    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. The $52-billion...
  • The Obama administration's incomplete answer to corporate inversions

    Obama administration officials freely admit that their new effort to deter corporate inversions -- a form of accounting fiction U.S. corporations are increasingly using to avoid taxes on income they earn in foreign countries -- won't actually stop the...
  • AbbVie denies reports it seeks additional Shire financing

    AbbVie denies reports it seeks additional Shire financing
    AbbVie said Friday that media reports claiming the drugmaker is seeking additional financing to complete its $55 billion takeover of the Irish pharmaceutical firm Shire are untrue. A media report published Friday morning said the North Chicago-based...
  • Horizon Pharma defies lawmakers, moves to Ireland

    Horizon Pharma defies lawmakers, moves to Ireland
    Despite growing criticism from lawmakers in Washington, a Deerfield drugmaker on Friday officially planted its corporate flag in Ireland, a move designed in part to lower its tax bill. Horizon Pharma completed its $587 million acquisition of the Irish...
  • U.S. Treasury moves against corporate inversion deals

    U.S. Treasury moves against corporate inversion deals
    The Obama administration on Monday issued a string of new rules that seek to crack down on U.S. companies that seek to cut their tax bills by moving their addresses abroad. The rules, which include tweaks to five sections of the corporate tax code,...
  • Treasury takes steps to discourage offshore tax-shifting inversions

    Treasury takes steps to discourage offshore tax-shifting inversions
    The Obama administration on Monday announced long-awaited executive actions to try to discourage companies from reincorporating abroad to reduce their U.S. taxes. The steps -- technical revisions to the tax code -- will "meaningfully reduce the economic...
  • U.S. moves to curb tax bill reducing inversions

     U.S. moves to curb tax bill reducing inversions
    With Congress unable to agree on legislation to stem a surge of offshore corporate moves, the Obama administration took executive action Monday to discourage companies from shifting their headquarters abroad to reduce their U.S. tax bills. The steps...
  • AbbVie shares drop as tax rules cloud Shire deal

    AbbVie shares drop as tax rules cloud Shire deal
    Shares in North Chicago-based AbbVie and other drugmakers fell Tuesday after the Obama administration this week issued a string of new rules to crack down on U.S. companies that seek to cut their tax bills by moving their addresses abroad. AbbVie shares...