ECONOMY

Economy

Encore: Planet Money Sets Up An Offshore Company In A Tax Haven

10:26pm April 06, 2016

by Chana Joffe-Walt

The Panama Papers highlighted the world of offshore tax havens. Planet Money wondered how hard these shell companies are to set-up. This story originally aired on July 27, 2012 on Morning Edition.

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A security guard stands at the gate of the Governor's Mansion, known as the La Fortaleza, in San Juan, Puerto Rico.

Puerto Rico Passes Law That Freezes The Island's Debt Payments

3:13pm April 06, 2016

by Greg Allen

The measure delays payments on Puerto Rico's debt load, which is now more than $70 billion, until January 2017. Creditors say the measure violates prior agreements and the island's constitution.

Labor Secretary Tom Perez speaks at a governors meeting in July. Under current rules, advisers

White House To Financial Advisers: Put Savers' Interests First

9:57am April 06, 2016

The White House on Wednesday rolled out rules to force financial advisers to take on fiduciary duties. That means they must put savers' interests ahead of fees. Critics say the rules are too complex.

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A box of Lumigan eye-drops, produced by Allergan Plc, stands next to a box of Viagra tablets, produced by Pfizer Inc. The Irish and American drugmakers were planning to merge, but the deal has been called off after a change in U.S. tax law reduced the pot

Pfizer, Allergan Call Off Their $150 Billion Merger

9:02am April 06, 2016

by Camila Domonoske

Pfizer announced that the planned merger between the two pharmaceutical companies has been terminated because of a recent change in U.S. tax rules.

Oil rigs extract petroleum in Culver City, Calif., on May 16, 2008.

Before Hollywood, The Oil Industry Made LA

7:09pm April 05, 2016

Los Angeles can seem like a company town, dominated by the movie business. But the area is dotted with oil wells — landmarks of a key industry in the region. Now plunging prices are taking their toll.

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Panama Papers Leak Is The Result Of Unprecedented Media Collaboration

5:53pm April 05, 2016

NPR's Ari Shaprio interviews Gerard Ryle, director of the International Consortium of Investigative Journalists. Ryle coordinated with over one hundred media organizations around the world to read and analyze the 11.5 million files from the Panama Papers leak.

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In Exposing Offshore Accounts, Panama Papers Could Catch Money Launderers

5:00pm April 05, 2016

NPR's Audie Cornish interviews Robert Mazur, a former U.S. drug agent who investigated the money laundering practices of drug lords, about how the Panama Papers could help catch money launderers.

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New Rules On Inversions Could Kill The Allergan-Pfizer Merger

2:15pm April 05, 2016

by Jim Zarroli

President Obama calls the controversial practice "one of the most insidious tax loopholes out there." Now the Treasury Department has introduced rules aimed at reducing the incentives for inversions.

Panama Papers Expose Hundreds Of Offshore Accounts

5:05pm April 04, 2016

Fallout continues Monday after a massive leak of documents from the law firm Mossack Fonseca revealed hundreds of offshore financial accounts. Investigative journalists with access to the documents say they expose companies held by 140 politicians and public officials, including the prime ministers of Iceland and Pakistan.

Panama Papers Shed Light On Global Business Of Tax Avoidance

4:28pm April 04, 2016

by Jim Zarroli

A huge trove of documents leaked from a large Panamanian law firm is shedding light on the global business of tax avoidance. The papers reveal that large numbers of world leaders, athletes and movie stars hired the firm to set up shell corporations and offshore accounts with the aim of hiding their money. Regulators around the world say they will use the document dump to pursue illegal activity.