The U.S. Treasury Department announces new regulations to curb tax-avoiding corporate inversions, i.e., where U.S. companies slash their tax bills by claiming a new tax home overseas, though their core operations and management remain in the United States. The pending $160 billion merger of Pfizer Inc. and Allergan, Plc could be cancelled because of these new rules. (CNN Money) (Reuters)
At least 63 people are killed and over 30 are injured as flash floods ravage Khyber Pakhtunkhwa, Azad Kashmir and other parts of northwest Pakistan. (Al Jazeera)
Five people are killed when a tourist helicopter crashes in the American town of Sevierville, Tennessee. (Fox News)
Health and medicine
Mexico City authorities declare a pollution alert after smog rose to 1.5 times acceptable limits the day before implementation of the City's new, temporary air quality program that will keep one-fifth of the city's cars at home every weekday. (AP)
South Korea announces plans to reduce the number of immigrants entering the country illegally. (Yonhap)
The United States Supreme Court unanimously rules the one person, one voterequirement may be satisfied by drawing election districts based on the total population of a place, turning down a legal effort to reinterpret the rule that it be based only on the number of people eligible to vote. (The Washington Post) (The Atlantic)
The Supreme Court decided two cases where businesses appealed the previous rulings, finding for the plaintiffs in both. The Court upheld a more than $150 million class action judgment on Walmart's treatment of workers in Pennsylvania, and upheld a $203 million judgment against Wells Fargo over allegations the bank imposed excessive overdraft fees. (Reuters via CNBC)
Icelandic Prime MinisterSigmundur Davíð Gunnlaugsson refuses to resign after leaked "Panama Papers" tax documents showed he and his wife used an offshore firm to allegedly hide million-dollar investments. "I have not considered quitting because of this matter nor am I going to quit because of this matter," Gunnlaugsson told Icelandic television Channel 2. (AFP via Times Live)
The President of KyrgyzstanAlmazbek Atambayev signs a presidential decree officially recognizing March 17, March 24, and April 7 as public holidays for Kyrgyzstan. The dates are meant to commemorate the days of Kyrgyzstan's massive anti-government revolts. On March 17, 2002, during anti-government protests in the Aksy District, police killed four protesters, while March 24 and April 7 commemorate the Tulip Revolution of 2006 and the Second Kyrgyz Revolution of 2010, respectively. (Radio Free Europe/Radio Liberty)
Fighting erupts between unknown assailants and police in the southern part of Brazzaville, capital of the Republic of the Congo, after a disputed Presidential election that brought Denis Sassou Nguesso back to power for a third term. The reason for the clashes is not immediately clear but they have taken place in districts where support for the opposition is strong. The government blames the violence on the Ninjas, a militant group active during the Second Republic of the Congo Civil War. (Al Jazeera) (BBC)