Big U.S. firms hold $2.1 trillion overseas to avoid taxes: study

WASHINGTON - The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a study released on Tuesday.

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SABMiller points to sales growth as AB InBev weighs bid

LONDON - SABMiller , the brewing giant in talks about a potential takeover by rival Anheuser-Busch InBev , reported improved underlying quarterly sales on Tuesday which it said reflected the strength of its long-term business model.

7:48am EDT

French PM calls for severe punishment after violence at Air France

PARIS - The people who attacked managers at Air France on Monday, when the human resources chief's shirt was ripped off in images that went around the world, must be severely punished, Prime Minister Manuel Valls said on Tuesday.

6:30am EDT

Historic Pacific trade deal faces skeptics in U.S. Congress

ATLANTA - Twelve Pacific Rim countries on Monday reached the most ambitious trade pact in a generation, aiming to liberalize commerce in 40 percent of the world's economy in a deal that faces skepticism from U.S. lawmakers. | Video

Politics, World 5:35am EDT

Exclusive: AirAsia sounding out investors to take company private - sources

SINGAPORE - Founders of Asia's No.1 budget carrier AirAsia Bhd are sounding out investors to take the company private in a management-led buyout, after its shares took a beating this year following a critical research report, people familiar with the matter said.

7:44am EDT

Wall St banks feel equities fee pinch as Chinese competition bites

HONG KONG - Despite record deal volumes this year, Wall Street banks are earning less when helping companies raise equity in Asia as Chinese rivals increasingly eat away their margins, a Thomson Reuters quarterly survey of investment banking activity shows.

4:08am EDT


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