U.S. Firms Eye Very British Tax Rate - Presented by: The Aol. On Network

It's not obvious but this is the legal and tax base of one of the world' largest oil rig firms. Rowan Companies is worth $4 billion and employs 3,500 staff. But hardly any of them work in the UK - the London office was set up to help the company avoid a higher U.S. tax rate. It's certainly done that - last year Rowan paid 3.3% instead of 34% in 2008. Reuters' Tom Bergin says it's not the first U.S. firm to move here for that reason.



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