The Internal Revenue Service ruled that bonds sold by a Florida community-development district that issued $426 million of debt aren’t tax-exempt, a decision with potential implications for hundreds of similar entities.
Biogen Idec Inc., the fourth- largest U.S. biotechnology company by market value, won a U.S. patent that may guard its experimental multiple sclerosis pill from generic competition for eight more years than anticipated.
As many U.S. House Republicans abandoned longstanding anti-tax and spending principles to back a bill designed to head off an economic crisis, one voice was virtually silent: Paul Ryan, the 2012 vice presidential nominee.
Billionaire casino executive Sheldon Adelson, who has donated tens of millions of dollars to promote Republican presidential candidates and oppose President Barack Obama, is also using his wealth to elect Republicans in Florida.
Richard Lugar of Indiana, a six-term Senate veteran and one of the most influential lawmakers on foreign affairs, lost in a primary that underscored the dominance of anti-tax Tea Party activism against established Republican party leaders.
Democrats retained control of the U.S. Senate by holding on to crucial seats in Virginia, Montana and Missouri, capturing the Indiana seat held by a retiring Republican and ousting a Republican in Massachusetts, where Elizabeth Warren beat incumbent Scott Brown.
Relations between Argentina and the U.S. worsened after the South American country filed a complaint about a U.S. Air Force plane it says arrived in Buenos Aires with “suspicious” material for a police training exercise.