Summer Smackdown: Murdoch, Wall Street Banks and Tax Inversions
Friday, August 08, 2014
This week on Money Talking, a summer smackdown in the business world. First, Rupert Murdoch ended his courtship of Time Warner by sending an email to that company's CEO Jeff Bewkes saying his $80 billion offer was off the table. Has the media world finally hit "Peak Murdoch"? Then, the Federal Reserve and FDIC told 11 of the largest banks that their plans to avoid bankruptcy without causing severe problems for the economy were not up to snuff. And finally, tax inversions. American companies are expressing interest in moving their headquarters overseas in order to lower their taxes. But after Walgreens abandoned plans to "move" to Switzerland, are inversions becoming less popular? Cardiff Garcia of the Financial Times and Diane Brady of Bloomberg Businessweek join Money Talking.