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Jon Stewart exposes ridiculous fawning over Apple at Senate hearing
On his show Wednesday night, The Daily Show host Jon Stewart pointedly mocked a Senate hearing on Apple’s questionable tax practices. The tech giant pays a lower corporate tax rate than Walmart and uses offshore tax havens to avoid paying tens of billions in taxes. Apple CEO Tim Cook testified…
Rand Paul demands Congress ‘apologize’ to Apple for tax avoidance hearing
Sen. Rand Paul (R-KY) on Tuesday lashed out at fellow members of Congress for looking into how technology giant Apple is able to avoid paying billions of dollars in taxes. The Senate Permanent Subcommittee on Investigations released a report on Monday detailing how Apple had used a network of offshore…
Watch live: Senate committee grills Apple CEO about hiding money in offshore accounts
Apple CEO Tim Cook will testify before the Senate Permanent Subcommittee on Investigations regarding a report that Apple had hidden more than $102 billion of its $145 billion in cash in offshore accounts between 2009 and 2012, meaning the company avoided paying some $44 billion in taxes on the funds. In anticipation…
Apple allegedly uses havens to avoid paying billions in U.S. taxes
Apple uses a “highly questionable” web of offshore entities to avoid paying billions in US income taxes, a Senate committee alleged on Monday. The complex arrangement includes three subsidiaries, based ostensibly in Ireland, which appear not to be designated as tax resident anywhere, the committee said. A source on the…
Apple and U.S. lawmakers in showdown over taxes and huge offshore cash stockpiling
Apple and US lawmakers are gearing up for a showdown over taxes — specifically how to deal with the huge stockpile of cash held by Apple and other multinational firms offshore. A Senate panel has called Apple chief executive Tim Cook and others from the California tech giant to testify…
Apple gave $10,000 gift card to man who downloaded the 50 billionth app from iTunes
Apple on Thursday announced that the number of mini-programs downloaded from its App Store has blasted past the 50 billion milestone, and celebrated the moment with a $10,000 prize. The California-based maker of iPads, iPhones, iPods and Macintosh computers said that it gave a $10,000 App Store gift card to…
Apple bond offering among biggest ever: reports
A bond offering from Apple expected to be priced later today will be one of the largest ever for a US company, according to leading financial newspapers Tuesday. Apple is selling $17 billion in investment-grade bonds, which would be a record for a US corporate debt issue, according to the…
Apple profit falls for first time in nearly a decade
Apple reported Tuesday that its quarterly profit had dipped for the first time in nearly a decade despite a rise in revenue from the same period a year earlier. The company posted a profit of $9.5 billion on revenue of $43.6 billion in the first three months of this year,…
Apple shares drop to 16-month low
Apple shares have dipped to a 16-month low as concern that muted phone and tablet sales may cause the company to miss its own revenue targets. In morning trading, Apple’s stock fell below $400 for the first time since December 2011. The shares reached more than $705 in September last…
Adult comic authors defiant in face of Apple store ban over gay images
The Apple iOS app store has banned the latest edition of the Saga comic by Brian K. Vaughan because of “two postage stamp-sized images of gay sex.” According to U.K. paper The Guardian, the adult comic’s author and artist are furious. “As has hopefully been clear from the first page…
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