Jacob Lew

(credit: CBS)

Overseas Deal Rules Alter Medtronic Acquisition

New government rules aimed at curbing overseas deals that cut corporate taxes appear to be working, just not entirely the way regulators intended. Minneapolis-based medical device maker Medtronic Inc., reacted to regulations announced last month by saying it will borrow money to pay for part of its nearly $43 billion acquisition of Ireland-based competitor Covidien Plc instead of using cash from Medtronic’s foreign subsidiaries. Medtronic still expects to close its deal later this year or early next year.


(credit: KAREN BLEIER/AFP/Getty Images)

Minn. Native Is No. 2 At State Dept.

A Minnesota native has been sworn in as the number two person at the U.S. State Department.