British Invasion: NY-Based Pfizer Wants to Move to the United Kingdom

New York-based pharmaceutical giant Pfizer wants to move to the United Kingdom. The company revealed a multi-billion dollar offer to acquire British rival AstraZeneca and if the acquisition is successful, Pfizer plans to reincorporate in there. Doing so would lower the company's tax rate from approximately 27 percent in the U.S. to 20 percent next year in the U.K. The move would also allow Pfizer to avoid paying U.S. taxes on profits made overseas. This week on Money Talking, regular contributors Rana Foroohar of Time magazine and Joe Nocera of the New York Times discuss if Pfizer could inspire other U.S.-based, international companies to pursue a similar path. Plus, a look at the saga of Los Angeles Clippers owner Donald Sterling whose racist comments prompted the NBA to ban him for life and what it means for business