U.S. Democratic Senator Carl Levin on Thursday said he plans to introduce legislation soon to prevent corporate inversions, an increasingly popular restructuring that involves U.S. companies moving overseas to avoid U.S. taxes. Levin, a long-time advocate for closing corporate tax loopholes, said he is talking with other senators about potential legislation.
US National Security Adviser Susan Rice assured Israel at high-level bilateral talks on Thursday that Washington remained determined to stop Iran developing nuclear arms, the White House said. \"The US delegation reaffirmed our commitment to prevent Iran from acquiring a nuclear weapon,\" said a White House statement released after talks in Jerusalem between Rice, Prime Minister Benjamin Netanyahu and senior officials from both sides. \"The delegations held thorough consultations on all aspects of the challenge posed by Iran, and pledged to continue the unprecedented coordination between the United States and Israel,\" it added.\"
The United States portrays itself as a bastion of the unfettered free market, but when foreign firms launch takeover bids for American businesses things are not always so laissez faire. The United States is the world's top destination for foreign investment. Business leaders here scoff at protectionism, such as the French government's opposition to US engineering giant General Electric's bid for the energy business of French rival Alstom. \"There's a sense here that the highest bidder should prevail,\" said Mitchell Marks, a mergers and acquisitions specialist at the University of San Francisco.