Senate investigators said Apple turned to "alchemy" and "ghost companies" to pay no corporate income tax to any national government on tens of billions of dollars in overseas income over the past four years.
Philip Morris International has agreed to buy the 20% that it doesn't already own in its Mexican tobacco business for about $700 million. The stake is currently held by Grupo Carso SAB, a conglomerate founded by Carlos Slim.
Saks fiscal first-quarter profit sank 38% as the luxury retailer's results were hurt by store-closing costs and debt-extinguishment losses, though same-store sales rose 5.9%.
It took Whirlpool eight months to close a 1,000-person factory in Arkansas last year amid falling sales. In Italy, the company has been trying for three years to cut 500 jobs—with only partial success.
Security company G4S said Chief Executive Nick Buckles, who was heavily criticized over the company's handling of the London Olympic Games last year, will resign at the end of the month.
British retailer Marks & Spencer reported another set of lackluster earnings, putting Chief Executive Marc Bolland under the spotlight after three years in charge.
Philippine commercial bank United Coconut Planters Bank hired an adviser to conduct a strategic review of the bank, a move that could lead to a sale or an initial public offering of bank shares.
