WASHINGTON/SAN FRANCISCO - Using an unusual global tax structure, Apple Inc has kept billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a Senate report on the company's offshore tax structure said on Monday.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Bayer plastics unit could be M&A currency: report
FRANKFURT (Reuters) - Germany's Bayer (BAYGn.DE) could use its MaterialScience unit as "currency" should the company decide to pursue a large acquisition, its chief executive told the Financial Times.
The unit, which makes foam chemicals and plastics used in data disks and car lights, would only be sold if "we wanted to do something so big that we had to use it as currency," CEO Marijn Dekkers was quoted as saying in an interview on Tuesday.
"We'll stay with the three strategic groups as long as they are competitive in their particular areas," Dekkers said, referring to Bayer's MaterialScience, HealthCare and CropScience divisions.
Dekkers said shortly before taking over as CEO in October that a divestment of MaterialScience, the world's largest maker of chemicals for insulation foam, was not imminent, responding to speculation a sale was on his agenda.
He said at the time that all three divisions were of strategic importance to him.
(Reporting by Ludwig Burger; Editing by Will Waterman)
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