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US announces additional measures to prevent corporate tax

US announces additional measures to prevent corporate tax

In view of the pharmaceutical giant Pfizer's plans to merge itself with Ireland-based Allergan, the US has announced imposition of additional measures to prevent corporate tax inversions.

'Not raising debt ceiling could result in 2008-like situation'

The Congress needs to increase the federal debt ceiling by October 17 to avoid having the US default on its obligations.

Not designating China a currency manipulator: US

Chinese currency still remains significantly undervalued but the steps taken by the country to reduce intervention in exchange markets and the recent appreciation of reminibi means that it cannot be designated as a currency manipulator, the US has said.