Pfizer's next takeover target will be American
It failed on the tax-favored Allergan deal, but it still needs to expand -- only now it will be looking closer to home
Pfizer
Big mergers are getting tougher to pull off
As both Pfizer-Allergan and Halliburton-Baker Hughes got government thumbs-down this week, it shows things are changing
Pfizer will not go through with a massive merger with Allergan due to tax rules; Ford will build a assembly plant in Mexico
Pfizer will not go through with a massive merger with Allergan due to tax rules; Ford will build a assembly plant in Mexico. Those headlines and more from CBS MoneyWatch's Jill Wagner at the New York Stock Exchange.
$160 billion Pfizer-Allergan deal is dead
End of Pfizer's tax-cutting "inversion" buy of fellow drug maker would come after Obama and Treasury Dept. took aim at such agreements
Analysts: New inversion rules will kill $160B Pfizer-Allergan deal
Drugmakers scramble to figure whether to proceed with their plan to merge and move address to lower-tax Ireland
Allergan shares tumble on new tax inversion rules
Treasury's harder push against mergers that relocate U.S. firms overseas to save taxes threatens the deal with Pfizer
Drug ads: $5.2 billion annually -- and rising
Nine out 10 big pharma companies spend more on marketing than on R&D, but what are consumers getting in return?
Pfizer earnings fall but top forecasts
Company benefited from growing sales of its newest products, as well as the additional of injectable medicines made by Hospira
Drugmakers ring in 2016 with hefty price hikes
Big pharma is busily raising prices on dozens of medications, branded and generic, with increases of 20 percent or more
Hillary Clinton says no to corporate tax inversions
The Democratic presidential candidate vows to take executive action to halt the scheme that lets U.S. firms cut their taxes
Will Pfizer bring its tax bonanza back to the U.S.?
To hear CEO tell it, takeover of Allergan will free up cash to invest and hire domestically -- don't bank on it
Ford halts use of Takata airbags, Pfizer's merger with Allergan prompts bipartisan criticism, Costco says no to genetically modified salmon and more. CBS News Moneywatch's Jill Wagner has today's CBSN business headlines.
Ford halts use of Takata airbags, Pfizer's merger with Allergan prompts bipartisan criticism, Costco says no to genetically modified salmon and more
5 things to know about the biggest ever drug merger
Pfizer and Allergan have inked a record $160 billion deal -- what does it mean for investors and consumers?
Drugmakers Pfizer and Allergan are close to a historic merger, Thanksgiving gas prices are at their lowest since 2008 and more
Drugmakers Pfizer and Allergan are close to a historic merger, Thanksgiving gas prices are at their lowest since 2008 and more. CBS News Moneywatch's Jill Wagner has today's CBSN business headlines.
Pfizer, Allergan combining in $160 billion deal
Deal, which creates the world's biggest drugmaker, uses a highly controversial method to drastically cut Pfizer's tax tab
U.S. toughens rules in corporate tax dodges
Transactions such as mergers that result in U.S. companies relocating HQ overseas to avoid taxes just got a little harder
Why Pfizer is so bent on lowering its tax rate
CEO Ian Read is a poster boy for critics who have long complained about the U.S. corporate tax system being unfair
Pfizer's CEO may have the deal he's looking for
By buying Ireland-based Allergan, Ian Read would cut Pfizer's U.S. tax bill while adding valuable products such as Botox
Allergan confirms Pfizer approach, companies in talks
Botox maker confirms that it has been approached by about a possible merger
The Federal Reserve declines to raise interest rates, Pfizer and Allergan consider combining, Americans buy less candy and more
The Federal Reserve declines to raise interest rates, Pfizer and Allergan consider combining, Americans buy less candy and more. CBS News Moneywatch's Jill Wagner has today's CBSN business headlines.
What to do when CVS/caremark drops Viagra coverage
A big prescription drug insurance plan is dropping Viagra next year, but there are alternatives to the little blue pill
"CBS This Morning" takes a look at some of the headlines from around the globe
"CBS This Morning" takes a look at some of the headlines from around the globe.
Commerce Dept. reports dip in retail sales
Pfizer third-quarter profits fall; more people getting a chance to own Google Glass; plus more MoneyWatch headlines
Israel-Hezbollah ceasefire takes hold, fueling new push for Gaza truce
As Israel and Hezbollah cease fire after a year, President Biden says Palestinians in war-torn Gaza also "deserve an end of the fighting and displacement."
3 Americans held for years in China released, White House says
Mark Swidan, Kai Li, and John Leung have been released from detention, a spokesperson for the National Security Council said.
Trump tariffs could hike prices for many products, including these items
Tariffs on U.S. imports would raise prices for consumers on a range of goods, experts say. Here's what to know.
Trump team says threats, swatting incidents against Cabinet picks being probed
President Biden has been briefed on the incidents and "unequivocally" condemns threats of political violence, the White House said.
Trump tariffs on Canada imports could bring sharply higher gas prices
Donald Trump's proposed tariffs on Canada could increase U.S. gas prices by up to 70 cents a gallon, energy experts say.
Ohio governor signs bill limiting bathroom use by transgender students
A ban on transgender students from kindergarten through college using multiperson bathrooms that fit their gender identities has become law in Ohio.
Sean "Diddy" Combs denied bail again ahead of sex trafficking trial
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
30 endangered Florida panthers found dead this year
The vast majority of the critically endangered Florida panthers have died after being struck by vehicles, including five in the past month.
NASA shows off image of U.S. military's abandoned "city under the ice"
Scientists now have a clearer picture of Camp Century, an abandoned U.S. military base long hidden under the ice in Greenland, thanks to a NASA research team's good luck.
U.S.
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New Orleans community mobilizes to find runaway dog
A scraggly white Terrier named Scrim has captivated the hearts of many in New Orleans hoping to help him back to a safer, easier life in the Big Easy.
Sean "Diddy" Combs denied bail again ahead of sex trafficking trial
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
How Trump's economic agenda could affect mortgage rates in 2025
Here's what a noted housing expert thinks will happen to mortgage rates next year as Donald Trump outlines his priorities.
Trump tariffs on Canada imports could bring sharply higher gas prices
Donald Trump's proposed tariffs on Canada could increase U.S. gas prices by up to 70 cents a gallon, energy experts say.
Ex-Sen. Bob Menendez seeks new trial
Former Sen. Bob Menendez, a Democrat from New Jersey, was convicted of 16 felony counts in July.
MoneyWatch
More MoneyWatch
How Trump's economic agenda could affect mortgage rates in 2025
Here's what a noted housing expert thinks will happen to mortgage rates next year as Donald Trump outlines his priorities.
Trump tariffs on Canada imports could bring sharply higher gas prices
Donald Trump's proposed tariffs on Canada could increase U.S. gas prices by up to 70 cents a gallon, energy experts say.
What's hot in kids toys this holiday season — and what to avoid
Consumers are expected to open their wallets this holiday season, with these children's toys high on the list.
A toddler got a nasal swab test. So why was the bill $445?
An Illinois mom got stuck with a big bill after taking her 3-year-old to the ER but never seeing a doctor. "It's mind-blowing," she said.
Trump tariffs could make these items more expensive
Tariffs on U.S. imports would raise prices for consumers on a range of goods, experts say. Here's what to know.
Politics
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Ex-Sen. Bob Menendez seeks new trial
Former Sen. Bob Menendez, a Democrat from New Jersey, was convicted of 16 felony counts in July.
Trump taps retired Gen. Keith Kellogg for Ukraine envoy
Keith Kellogg, a retired lieutenant general, served as national security adviser to former Vice President Mike Pence.
Trump team says threats, swatting incidents against multiple Cabinet picks being investigated
President Biden has been briefed on the incidents and "unequivocally" condemns threats of political violence, the White House said.
Trump team signs some, but not all, critical transition documents
The Trump transition team has yet to sign key agreements with the Justice Department or General Services Administration, White House officials say.
Trump taps Jay Bhattacharya as director of the National Institutes of Health
Dr. Jay Bhattacharya, who has faced restrictions on social media platforms because of his views, was a critic of pandemic lockdowns and vaccine mandates.
HealthWatch
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A toddler got a nasal swab test. So why was the bill $445?
An Illinois mom got stuck with a big bill after taking her 3-year-old to the ER but never seeing a doctor. "It's mind-blowing," she said.
Why we eat turkey on Thanksgiving, according to history
Why is Thanksgiving traditionally associated with turkey and other specific foods? We asked a history expert why we eat what we do on the holiday.
How to safely cook your turkey — and how long to keep leftovers
If you're looking forward to a delicious — and safe — Thanksgiving dinner with loved ones, here's how to cook your turkey and keep your leftovers safely.
Biden administration set to miss chance to lock in new food guidelines
A federal panel has been meeting for months to draft recommendations.
Trump taps Jay Bhattacharya as director of the National Institutes of Health
Dr. Jay Bhattacharya, who has faced restrictions on social media platforms because of his views, was a critic of pandemic lockdowns and vaccine mandates.
World
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Accused "Pink Panthers" member among 11 nabbed in cocaine bust
Police in the Balkans arrested 11 alleged members of a criminal syndicate responsible for smuggling cocaine from South America to Europe, officials said.
NASA shows off image of U.S. military's abandoned "city under the ice"
Scientists now have a clearer picture of Camp Century, an abandoned U.S. military base long hidden under the ice in Greenland, thanks to a NASA research team's good luck.
Australian lawmakers advance bill to bar under-16s from social media
Australia's House of Representatives has passed a bill that would ban children under the age of 16 from using most social media platforms.
Israel-Hezbollah ceasefire takes hold, fueling new push for Gaza truce
As Israel and Hezbollah cease fire after a year, President Biden says Palestinians in war-torn Gaza also "deserve an end of the fighting and displacement."
3 Americans held for years in China released, White House says
Mark Swidan, Kai Li, and John Leung have been released from detention, a spokesperson for the National Security Council said.
Entertainment
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Sean "Diddy" Combs denied bail again ahead of sex trafficking trial
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
Grateful Dead remembers band member Phil Lesh
Members of the iconic band, the Grateful Dead, reflected on the impact bandmate Phil Lesh had on their lives and said they had hoped to play together again.
Grateful Dead bandmates remember Phil Lesh
Iconic band The Grateful Dead, is remembering one of the band's original members, Phil Lesh, who died in October at 84 years old. The surviving original members of the band credit Lesh for the impact he made in each of their lives and revealed they were hoping to play together one more time.
Harvey Weinstein accuses Rikers Island of substandard medical treatment
Harvey Weinstein's lawyers filed a legal claim alleging that he is receiving substandard medical treatment in unhygienic conditions while in custody at Rikers Island.
The Script on loss, resilience in new album
Irish band The Script continues to inspire with hits like "Hall of Fame," while moving forward after the loss of guitarist Mark Sheehan. Danny O'Donoghue talks to Natalie Morales about the band's journey, and how boxing helps him cope.
Technology
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Australian lawmakers advance bill to bar under-16s from social media
Australia's House of Representatives has passed a bill that would ban children under the age of 16 from using most social media platforms.
AI grandma tool helps fend off phone scams
British phone company Virgin Media O2 has developed an AI-generated grandmother to talk to scammers all day and waste their time so you don't have to. CBS News Confirmed executive producer Melissa Mahtani has more on the "grandma" and how you can protect yourself from phone scams.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Starbucks impacted by ransomware attack on software vendor
Starbucks managers forced to rely on manual systems to handle baristas' pay, but customers unaffected.
How AI can help to plan your next vacation
More than one third of travelers says they've incorporated artificial intelligence into their travel planning, according to a recent survey. CBS News compared how efficient booking a trip with the help of AI is compared to doing the research yourself.
Science
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NASA shows off image of U.S. military's abandoned "city under the ice"
Scientists now have a clearer picture of Camp Century, an abandoned U.S. military base long hidden under the ice in Greenland, thanks to a NASA research team's good luck.
Divided U.N. negotiations for plastic treaty
Negotiators are far apart as the United Nations tries to work out the world's first treaty to curb plastic pollution. Issues creating roadblocks include limiting new manufacturing of plastic and the potential phasing out of some chemicals. For more on the talks, CBS News was joined by Erin Simon, vice president and head of plastic waste and business for the World Wildlife Fund in the U.S.
Honolulu hopes to identify long-unclaimed bodies with advanced DNA testing
Forensic pathologists hope advanced DNA testing technology will enable them to attach names to all the unidentified people at the Honolulu Medical Examiner's Office.
Dishing up space food
At the Johnson Space Food Systems Laboratory in Houston, NASA scientists develop dishes – freeze-dried, heat-stabilized, or irradiated – to serve on the International Space Station. Correspondent David Pogue checks out what's on the menu in Earth orbit.
How are U.S. winters permanently changing?
This winter, the National Oceanic and Atmospheric Administration predicted above-average temperatures throughout the U.S. because of a "slowly developing" La Niña pattern. CBS News Sacramento meteorologist Tracy Humphrey reports on the changing winter conditions.
Crime
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Sean "Diddy" Combs denied bail again ahead of sex trafficking trial
Sean "Diddy" Combs' lawyers again asked the rapper be released on bond ahead of his trial, but the request was denied.
Accused "Pink Panthers" member among 11 nabbed in cocaine bust
Police in the Balkans arrested 11 alleged members of a criminal syndicate responsible for smuggling cocaine from South America to Europe, officials said.
Bombing suspect on most wanted list arrested
Daniel Andreas San Diego, a suspect in in two 2003 northern California bombings, was arrested in the U.K. this week. San Diego, who had been one of the FBI's most wanted terror suspects, now faces extradition.
Honolulu hopes to identify long-unclaimed bodies with advanced DNA testing
Forensic pathologists hope advanced DNA testing technology will enable them to attach names to all the unidentified people at the Honolulu Medical Examiner's Office.
Drug cartel reeling in huge profits with illegal fishing in Gulf of Mexico
The cartel allegedly uses fishing boats to smuggle drugs and migrants — and catch tons of red snapper, a commercially valuable but vulnerable species.
Space
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Webb telescope captures stunning new image of the "Sombrero galaxy"
The Sombrero galaxy, named for its resemblance to the Mexican hat, is about 30 million light-years from Earth.
Blue Origin launches 6 tourists to the edge of space
Marc and Sharon Hagle, both making their second space flight, were among the passengers for the NS-28 mission.
Blue Origin launches 9th space tourism flight
The ninth Blue Origin space tourism flight launched from West Texas Friday morning. CBS News space consultant Bill Harwood and space expert Scott Heidler offered analysis of the flight.
Trump, Musk attend SpaceX launch
President-elect Donald Trump attended SpaceX's sixth flight test of its Super Heavy-Starship on Tuesday with CEO Elon Musk. The burgeoning friendship between the two men played a key role in Trump's reelection, with Musk now set to run a government efficiency agency in the coming months. CBS News political reporter Jake Rosen and Politico aviation reporter Oriana Pawlyk join "America Decides" with more.
SpaceX launches Super Heavy-Starship, with Trump there to watch
President-elect Donald Trump was on hand with Elon Musk for the sixth test flight of SpaceX's huge Super Heavy-Starship rocket.
Latest Galleries
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Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Serial killer Rodney Alcala's secret photos
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Evidence in "The Dexter Killer" case
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
Summer music heats up 2024
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Latest CBS News Videos
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Latest CBS News Videos
3 detained Americans released by China
The White House announced Wednesday that three American men wrongfully detained for years in China on what the U.S. said were false espionage and drug charges have been released. There was no immediate announcement about what the U.S. gave China in return. Scott MacFarlane reports.
Rough weather complicates holiday travel
Rain and snow are in the forecast for Thanksgiving Day, from the Midwest to the Northeast. John Elliott has the latest forecast.
Hundreds of flights delayed, travel rush underway
The TSA planned to screen around 2.9 million flyers Wednesday at airports across the U.S. But snow in Denver delayed hundreds of flights, and air traffic control staffing issues again caused delays at Newark Liberty Airport in New Jersey. Kris Van Cleave has the latest.
Threats, hoax calls target Trump Cabinet picks
The Trump transition team said Wednesday that several bomb threats and swatting incidents were made this week against the incoming administration. Among those targeted were President-elect Donald Trump's chief of staff, his choice for attorney general, and his picks to lead the Department of Commerce and Environmental Protection Agency. Weijia Jiang reports.
"CBS Evening News" headlines for Nov. 27, 2024
Here's a look at the top stories making headlines on the "CBS Evening News" with Nancy Cordes.