Apple CEO Cook grilled in Congress on offshore taxes

May 23, 2013

Apple CEO Cook grilled in Congress on offshore taxes

Apple chief Tim Cook faced a grilling Tuesday by U.S. lawmakers on “sham” subsidiaries and “convoluted” strategies to shift profits offshore, but denied the company uses “gimmicks” to avoid paying taxes. Cook told a Senate hearing Apple lives up to its tax obligations and ...

Apple announces rare drop in profit, record stock buyback

Apr 25, 2013

Apple announces rare drop in profit, record stock buyback

Apple reported Tuesday that its quarterly profit dipped for the first time in nearly a decade as it squeezed less money from its champions in the competitive smartphone and tablet markets. The maker of iPhones, iPads, iPods, and Macintosh computers stepped in to bolster ...