Industrials

Under pressure from Congress, IRS suspends Equifax contract

The IRS has suspended a $7.25 million contract with the credit reporting company Equifax after members of Congress complained the tax agency had awarded a no-bid contract to a company that recently had a massive data beach.

Under pressure from Congress, IRS suspends Equifax contract

The IRS has suspended a $7.25 million contract with the credit reporting company Equifax after members of Congress complained the tax agency had awarded a no-bid contract to a company that recently had a massive data beach.

Bayer sells units to be able to complete Monsanto takeover

German pharmaceutical giant Bayer AG has reached a 5.9 billion euro ($7 billion) deal to sell parts of its Crop Science unit to German chemical company BASF to alleviate regulatory concerns over its planned takeover of U.S. seed and weed-killer company Monsanto Co. Monsanto last year accepted an offer from Bayer to pay $57 billion to its shareholders and assume $9 billion in debt.