McDonald’s Corp. denied a magazine report that it evaded paying tax on more than $3 billion of revenue in France since 2009, saying inspections by fiscal authorities at its French unit were routine. McDonald’s “firmly refutes” the allegation by L’Express, the restaurant chain said Wednesday. L’Express reported that the French finance ministry suspects McDonald’s of reducing its tax obligations in France by redirecting revenue via branches in Geneva and Luxembourg. The magazine didn’t cite anyone.
Carl Icahn, the billionaire financier, said Wednesday that he’s purchased $500 million worth of Apple Inc. shares in the past two weeks, bringing his total stake to over $3 billion. In three messages posted on Twitter, Icahn disclosed his added stake, called the investment a “no brainer” and reiterated his view that Apple needs to boost it stock repurchase program.
Playtex is recalling 1.4 million pacifier holders because of concern that a small child could choke if a part of the clip broke off. The U.S. Consumer Product Safety Commission said Wednesday that the clips — used to connect a pacifier to clothing, diaper bags or strollers — can crack and a small part can break off. Playtex has received 99 reports of the holder cracking or breaking. No injuries have been reported.