Apple

1:07am

Wed May 22, 2013
Planet Money

Why Apple (And Lots Of Other Companies) Wound Up In Ireland

Originally published on Wed May 22, 2013 7:35 am

Andy Wong AP

Apple was criticized in a Senate committee hearing Tuesday for using complex accounting to minimize the corporate taxes it pays. One key piece of the company's tax strategy: It funnels lots of its profits through subsidiaries in Ireland.

Offering low corporate tax rates has been a fundamental part of Ireland's economic strategy for decades — a way to get foreign companies to set up operations in the country.

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2:24am

Tue May 21, 2013
Business

CEO Cook To Defend Apple Before Senate Committee Hearing

Originally published on Tue May 21, 2013 9:13 am

Apple CEO Tim Cook speaks during an introduction of the iPhone 5 in San Francisco on Sept. 12. The Senate Permanent Subcommittee on Investigations says Apple is paying billions of dollars less than it should in taxes each year, taking advantage of technicalities in U.S. and Irish tax laws.
Eric Risberg AP

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S. and Irish tax laws to avoid paying any tax on a huge portion of its profits.

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7:55am

Wed May 15, 2013
The Two-Way

Cup Of Joe With Apple CEO Goes For $610,000

An anonymous bidder has offered $610,000 to have coffee with Apple CEO Tim Cook, in a charity auction that closed Tuesday afternoon.
Mark Lennihan AP

It turns out that the desire to speak with Apple CEO Tim Cook, along with $610,000, will buy you a cup of coffee. That's the winning bid offered in a charity auction for up to an hour of Cook's time.

As we reported last month, the chance to grab coffee with Cook at Apple's headquarters zoomed past the suggested value of $50,000 set at the Charitybuzz auction site, rising to more than $600,000 in just three days.

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5:21am

Wed May 15, 2013
The Two-Way

Book News: Justice Department Says Apple Led Price-Fixing Ring

Originally published on Wed May 15, 2013 6:54 am

Former Apple CEO Steve Jobs at the 2011 Apple World Wide Developers Conference in San Francisco. He died later that year.
Justin Sullivan Getty Images

9:20am

Mon May 6, 2013
The Two-Way

Wal-Mart Reclaims No. 1 Spot On 'Fortune' 500 List

Originally published on Mon May 6, 2013 1:40 pm

A shopping cart at a Wal-Mart store in Los Angeles.
Robyn Beck AFP/Getty Images

Wal-Mart has reclaimed the lead spot on the Fortune 500 list released today. For the past few years, the giant retailer has been battling it out with Exxon for top billing.

This year, Exxon Mobil dropped to No. 2.

Fortune writes about Wal-Mart:

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