By Mark Kleinman, City Editor
One of America's biggest corporate names is poised to bow to intense US political pressure by retaining its headquarters in the US even as it secures a full takeover of Boots, Britain's biggest pharmacy chain.
Sky News can exclusively reveal that Walgreens, the giant drug-stores group, will announce as soon as Wednesday that it plans to acquire the remaining 55% of Alliance Boots that it does not already own in a deal costing in the region of £5bn.
However, sources on both sides of the Atlantic said that Walgreens is likely to disclose as part of its announcement that it intends to remain a US-domiciled company rather than pursuing a so-called tax inversion which would involve moving its corporate headquarters to the UK or Switzerland.
The news will represent a significant victory for President Obama, who said recently that US companies which moved their headquarters overseas to save tax were damaging the country’s economy.
"My attitude is I don't care if it's legal, it's wrong," he said in July.
Tax inversions have become a contentious issue in the US in recent months, with Pfizer's ultimately aborted £69bn offer for AstraZeneca the catalyst for a wave of deals involving American companies seeking to take advantage of lower overseas corporate tax rates.
Walgreens' decision will disappoint many of its own shareholders, who have urged the group to exploit the estimated $4bn (£2.4bn) in tax savings over five years that it could reap by moving the company’s base to Switzerland, where Alliance Boots is headquartered.
You need to stop listening to that Rustylimpballs.
Fact one, it was Ronald Reagan who pushed and signed the last illegal immigrant amnesty bill. Fact two is that Obama has been sending back more illegals than any other POTUS. Fact three is Dubya was the one who pushed and signed the bill that granted some illegals a hearing first.
lang, for state stats, search for:
State Government Employment: Totals By Job Type: 1960-2012
State governments employed about 4.3 million workers nationwide in 2012, more than double the total 50 years ago. More recently, state payrolls recorded slight declines after years of slow growth leading up to the recession.
Those working at colleges and universities account for nearly half of total public employment at the state level. Other areas of state government with large numbers of employees include corrections, public welfare, health and hospitals.
Select a state in the tool below to display its employment data since 1960. All figures refer to full-time equivalent (FTE) employees.
Figures were compiled from the Census Bureau, which conducts a Census of Governments every five years along with the Annual Survey of Public Employment & Payroll.
Listed data includes totals for select larger functions of state government. Definitions describing types of employees for job types shown are available in the Census Bureau’s classification manual, beginning on page 373.
Data, Analysis & Documentation Federal Employment Reports
Historical Federal Workforce Tables
Total Government Employment Since 1962
I agree with you although the focus is still on when Aunt Yeller is going to stop filling the QE and ZIRP punch bowl. The Ukraine and Gaza (and Syria, Libya, Iraq, N.Korea, ...) are minor problems to US businesses.
Frankly, I am sick of hearing about Gaza and Ebola. I want to hear more on jobs, tax loopholes, national debt, solutions to VA care and refugees at our borders.
Facotry orders rise in July
June Factory Orders: +1.1% vs. consensus of +0.6%, -0.5% prior.
Ex-transportation +1.1% vs. -0.1 prior.
ISM Non-Manufacturing Index at 58.7
July ISM Non-Manufacturing Index: 58.7 vs. 56.5 expected and 56.0 prior ( 50 denotes expansion)
Business Activity: 62.4 vs. 57.5
New Orders: 64.9 vs. 61.2
Employment: 56.0 vs 54.4
A CNBC guest told you so and therefore it must be true. Here were some stats that if Obama had not stopped The Great Depression II with recovery act etc:
In 1933, 25% of all workers and 37% of all nonfarm workers were unemployed.
Over 60% of Americans were categorized as poor by the federal government in 1933.
In the early 1930s, more people emigrated from the United States than immigrated to it.
Corporate profits had dropped from $10 billion in 1929 to $1billion in 1932.
Between 1929 and 1932 the income of the average American family was reduced by 40%.
Nine million savings accounts had been wiped out between 1930 and 1933.
By 1933, 11,000 of the US' 25,000 banks had failed.
Between 1929 and 1933, U.S. GDP fell around 30%, the stock market lost almost 90% of its value.
Obama expected to announce $14B African investment
President Obama is expected to announce a $14B commitment by U.S. companies to invest in construction, clean energy, banking, and information technology projects across Africa.
"These investments will deepen U.S. economic engagement in Africa, fueling growth that will support broader African prosperity and emerging markets for US businesses, which will support jobs in both the United States and Africa," says a White House official.
The announcement will occur at the U.S.-Africa Business Forum today, part of a three-day Africa summit in Washington.
May be the money has flowed from Wall Street to Main Street ... and about time.
The S&P 500 (SPX) fell 0.3 percent to 1,925.20 at 4 p.m. in New York. The index plunged 2 percent yesterday, and finished the week with a loss of 2.7 percent.
If the obstructionists are obstructing the business of the People. Pass a bill that amounts to a third of what the Senate had passed, can't blame Barrack from doing what must be done.
BTW, those kids and their parents have gone through hell to escape the drug lords and gangsters from their homeland who cooked and processed the drug demanded by our citizens. The solution is stop the drug users from Silicone Valley, Kansas to Miami now. Shipping them back to join the drug trade or murdered won't stop the flow of humanity.
Bribe the Canadian Senator with pork:
House Republicans expressed confidence Friday that they would win passage of a revised $694-billion measure to provide emergency funds for the border crisis, but only after making the package tougher on immigrants and adding more money for border state governors, namely Texas' Rick Perry.
Whether the two-bill package can pass the House, however, remained uncertain as Democrats largely opposed it and conservatives inspired by Republican Sen. Ted Cruz of Texas still had objections.
You will need to win 67% from both Congress to override the veto. That's not going to happen.
dougping or bettyfan,
Sure, we are facing Armageddon as the obstructionists have been telling you in 2009, 2010, 2011, 2012, 2013 and now.
Where do you get the data? Is it possible that more folks grew above 54 years old than grew into the 25 years young segment?
As on the 2.5 mil non-participants in job searching since 2008, over 3.4 million annually since 2009, 2010, 2011, 2012, 2013 and 2014 YTD have been eligible for social security and medicare. Many more like myself retired at 50 and looked back.
It is not going up hockey stick style, thanks to layoffs by big firms like HP, MSFT and AMGEN etc. Your anger should be directed to those companies: CONSTANTLY laying workers off to increase their profits, dividends and stock buybacks.
Unlike the rest of the country, Silicone Valley did not enjoy the INSANE real estate bubble as rest of the country because of the 2000 to 2003 tech implosion. Homes and offices were on the blocks all over the Bay Area. You can get a 3/2 Palo Alto home for $800K then, even a young Zuckerberg and the google boys could buy them.
Anything within 30K-50K is inline and well within the statistic one sigma. However, the revised numbers are pretty solid:
May's 224K jobs gain was revised higher by 5K jobs and June's 288K was bumped higher by 10K for total upward revisions of 15K.