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By Edward Hadas
The tech giant followed the law, but its aggressive use of Irish subsidiaries to reduce tax payments fails the smell test. Ireland comes off as an unscrupulous tax haven, while the U.S. government looked the other way. It’s time for a new international deal on corporate taxes.
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Dimon has little to lose in shareholder vote

By Antony Currie
If JPMorgan’s owners want the top roles split he could quit, or the board could delay. Alternatively, Dimon could trade a sliver of ego for shareholder support and chair the firm with new CEO blood or run it with a new chairman. Either would be better for the company.

Marissa Mayer puts exclamation point back in Yahoo

By Jeffrey Goldfarb
Her $1.1 bln deal to buy blogging site Tumblr bolsters the website’s firepower in the mobile arms race. It’s the latest sign that Mayer has confidence from her board and shareholders to take risks. In less than a year, she has turned Yahoo from a purple joke to part of the buzz.

FirstGroup cash call shows deleveraging imperative

By Dominic Elliott
The rail and bus operator is raising $1 bln to stave off a ratings downgrade. The chairman is leaving. Debt may be cheap, but too much is still a constraint. With equity markets rising, this won’t be the last over-geared firm to seek to restructure its balance sheet.

Alibaba’s next superlative: China’s top fee payer

By John Foley
The e-commerce giant is already a big generator of investment banking revenue. Factor in a potential IPO, and for global banks Alibaba could be the biggest client to come out of China in a decade. In a weak market, the battle lines are already being drawn.

How to have a good argument about economics

By Edward Hadas
As the Great Stagnation stretches out into the indefinite future, the debate on how to respond is loud but inconclusive. Some want stimulus, others austerity, while structural reformers lock horns with monetary activists. Here are five rules for a more productive dialogue.

Wells Fargo boss takes turn on soapbox

By Jeffrey Goldfarb
John Stumpf runs the biggest U.S. bank but has kept a low profile. Lately, though, he has tiptoed into a role critiquing regulation – one filled mainly by Jamie Dimon. Now the JPMorgan boss has other concerns, and Stumpf is the bank CEO with most credibility on the stump.
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