Tax inversions

More companies were interested this year in relocating overseas to save millions of dollars in U.S. taxes. The move, known as a corporate inversion, picked up so much speed that even President Obama voiced his opposition, saying "it sticks you with the tab to make up for what they're stashing offshore through their evasive tax policies."

In the medical-device field, Medtronic announced plans to buy Ireland-based Covidien. Other deals were in the works, but the Treasury Department intervened in September with new rules that made it harder to invert and spin off overseas subsidiaries. That stopped some inversions cold.

Burger King pressed on, however, and became a Canadian company last week by merging with Tim Horton's. The estimates of what Burger King will save on U.S. taxes vary wildly, ranging from $10 million to $1 billion. One liberal group, Americans for Tax Fairness, estimates the chain could save at least $400 million over the next four years. Burger King insists it isn't trying to flee U.S. taxes in the deal.