The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * The Federal Reserve is tiptoeing away from its economic stimulus campaign, and so far the broader economy has barely noticed. The Fed's policy-making committee, which meets on Tuesday and Wednesday, is widely expected to announce another $10 billion cut in its monthly bond purchases, to $45 billion, en route to ending the purchases this autumn. (r.reuters.com/vak88v)* Pfizer Inc proposed on Monday a $99 billion acquisition of its British rival AstraZeneca Plc that would allow it to reincorporate in Britain. Doing so would allow Pfizer to escape the United States corporate tax rate and tap into a mountain of cash trapped overseas, saving it billions of dollars each year and making the company more competitive with other global drug makers. (r.reuters.com/wak88v)
AstraZeneca PLC (AstraZeneca) is a global biopharmaceutical company. Shares of AZN traded higher by 12.16% or $8.35/share to $77.01. In the past year, the shares have traded as low as $46.87 and as high as $79.90. On average, 2822850 shares of AZN exchange hands on a given day and today's volume is recorded at 26584368.
Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE traded higher by 4.2% or $1.29/share to $32.04. In the past year, the shares have traded as low as $27.12 and as high as $32.96. On average, 29067700 shares of PFE exchange hands on a given day and today's volume is recorded at 71421568.
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