business news in context, analysis with attitude

• The Wall Street Journal this morning reports that the US Food and Drug Administration (FDA) "has sent warning letters to five nutritional supplement manufacturers concerning the use of picamilon, increasing scrutiny over the substance it says isn’t approved as a dietary supplement or a drug ... The companies have 15 business days to respond to requests to remove products labeled with picamilon as an ingredient, or they could be subject to further enforcement by the FDA."

Picamilon is described in the story as a "synthetic chemical developed in the former Soviet Union and is still used in Russia as a drug to treat neurological conditions."

USA Today this morning reports that European Union regulators are looking into whether Luxembourg gave McDonald's there an unfair tax advantage that allowed it to avoid EU and US taxes. Such a deal would violate EU rules; similar investigations have been conducted into tax deals allegedly given to companies like Apple, Amazon and Starbucks.
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