The US Treasury Department and IRS are joining forces to address corporate tax inversions with the introduction of new measures aimed at “curtailing companies’ ability to avoid United States tax rates if they move to locations where they lack substantial business activity.” Of course, as stopping up one loophole only seems to open up another—and Pfizer’s looking to drive a $150 billion truck through one even as the Feds are specifically aiming at such behavior – NYTimes and WSJ
UnitedHealth Group “stunned investors” yesterday by significantly lowering its profit estimates and taking a heavy shot at the Affordable Care Act in the process by laying blame on the law for hundreds of millions of dollars in losses. Health-care insurance insiders note that United has been “a reluctant participant” in the exchanges and suggest that the announcement may be a vehicle for prodding the Obama administration into making changes to the ACA and its insurance reimbursement program – NYTimes and WSJ
Some Law360 analysis of this week’s news that the SEC is moving forward with plans to make dark pools and other alternative trading systems make “extensive new disclosures about how they operate and the activities of their affiliated broker-dealers” – Law360
How about this for a comeback story (yes, it’s early, but bear with me). After the much-publicized drop in valuation and IPO move from an $11-13 range down to $9, Square ended its first day on the NYSE up 45%, putting it slightly above its target at $13.07/share – NYTimes and WSJ
The Journal on the dark side of a strong dollar – WSJ
Here’s a tidy kick in the teeth from a Yahoo activist investor: instead of spinning off your 15% Alibaba stake, try spinning off your Yahoo stake instead. Ouch – NYTimes
Bloomberg’s starting off the year-end prediction cycle early this year with 14 takes on what 2016 will hold in the world of finance – Bloomberg
Gotta love it when a sport is rocked by a broom controversy – NYTimes