02:15 PM EDT, 08/01/2024 (MT Newswires) -- Coca-Cola's (KO) transfer-pricing dispute could cost it $2.6 billion in taxes, Bloomberg reported Thursday, citing filings with the US Tax Court. The US government assessed unpaid deficiencies in 2007, 2008 and 2009 of $837 million, $844 million and $923 million, respectively, according to the report. The company has been contesting a transfer-pricing adjustment...

02:17 PM EDT, 08/01/2024 (MT Newswires) -- Arch Capital Group's ( ACGL ) Arch Insurance North America unit said Thursday that it completed the acquisition of Allianz's US MidCorp and Entertainment insurance businesses. The acquisition for $450 million in cash was announced April 5. About 500 former Allianz MidCorp and Entertainment employees joined Arch to provide continuity for clients and...

02:16 PM EDT, 08/01/2024 (MT Newswires) -- Boeing's ( BA ) selection of Kelly Ortberg as new chief executive brings the right mix of industry knowledge and relationships, and an outsider's perspective, RBC Capital Markets said in a note. Selecting an outsider is important for cultural and operational shift at the company, following a string of recent problems, the brokerage...

CARACAS (Reuters) - Venezuela's oil production and exports were working normally on Thursday following last weekend's disputed presidential election that has triggered protests and international reactions, but shipping delays accumulated since early this year persist, sources said. Due to the electoral process, which typically requires the mobilization of the military, state-oil company PDVSA last week instructed joint ventures and its...