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London has almost a third of the world's foreign-exchange dealing and over a third of over-the-counter derivatives business.
ECONOMIST: London pride
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Mr. Dayton says his plan would produce "fair, progressive and sustainable" tax revenue, by which he means everyone pays more, because he also proposes lowering the sales tax to 5.5% from 6.875% but collecting more money by expanding its reach to everything from clothing to over-the-counter drugs and business services.
WSJ: Review & Outlook: Minnesota's Snowbird Tax
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Investors of Matrixx Initiatives, a pharmaceutical company, sued the business because it did not disclose to shareholders that its over-the-counter drug, Zicam Cold Remedy, caused a loss of sense of smell.
FORBES: Manage Risk Like Robert Rubin