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Five firms urge no movement on US tax breaks

Five of the worlds largest firms have joined forces to try to limit changes to controversial US tax laws, signalling stiff opposition to key EU trade goals.

According to US weekly The Hill, Microsoft, Caterpillar, Honeywell, United Technologies and Boeing have formed an alliance to oppose EU calls to amend laws, which give tax breaks to US firms on some of their export income.

The World Trade Organisation says the US laws breech international trade rules and has given the EU the i...

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