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Senate panel peels back Apple's offshore taxes

WASHINGTON - Apple Inc's chief executive officer defended the company's tax record at a Tuesday Senate hearing where lawmakers said the maker of iPads, iPods and Mac computers kept billions of dollars in profits in Irish subsidiaries to avoid U.S. taxes.

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Families edging out private equity in consumer deals

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China denounces EU airline carbon law, seeks talks

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.

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Sanofi to buy Colombian drugmaker Genfar

Tue Oct 2, 2012 2:25pm EDT

(Reuters) - Giant French pharmaceutical maker Sanofi SA said Tuesday it would buy Colombian drugmaker Genfar to expand its product portfolio in South America.

Genfar is Colombia's second-largest manufacturer of generic drugs with sales of $133 million last year, of which 30 percent was generated outside the country, Sanofi said in a statement announcing the purchase.

"Sanofi has a unique opportunity to strengthen its presence in Latin America through a large portfolio of affordable pharmaceuticals in a broad range of markets," the company's Latin America chief Heraldo Marchezini said in the statement.

Financial terms were not disclosed.

(Reporting by Laurence Frost; Editing by Gerald E. McCormick)
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