Search Results (18)

Irish PM says U.S. Senate's Apple tax claims incorrect

DUBLIN (Reuters) - Ireland does not cut special tax deals with foreign companies and a U.S. Senate report saying it did so for Apple Inc is incorrect, Irish Prime Minister Enda Kenny said on Tuesday. Ireland has been defending its corporate tax rate after the U.S. Senate said on Monday that Apple paid little or no tax on tens of billions of dollars in profits in Irish subsidiaries and that it had negotiated a special corporate tax rate of less than 2 percent. ...

Yahoo's rise in Asia offsets risk from Tumblr bet

By Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc Chief Executive Marissa Mayer's $1.1 billion acquisition of blogging service Tumblr will be a test of her ability to revive the aging Web portal. Luckily for her, her performance may be graded generously. Mayer faces plenty of challenges in her efforts to turn six-year-old Tumblr into a money-spinner, not least among them retaining users while devising new types of non-intrusive online ads outside of Yahoo's traditional area of expertise. And then there is Tumblr's hefty price tag: a sum that equates to a fifth of Yahoo's cash. ...

Ireland rejects blame for Apple's low tax rate

By Conor Humphries and Padraic Halpin CORK/DUBLIN (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries. The Irish government, which has seen the luring of U.S. multinationals with low taxes as a key part of its economic policy since the 1960s, said its system was transparent and other countries were responsible if the tax rate paid by Apple was too low. ...

18-year-old’s invention can recharge a cell phone in 30 seconds

A teenager from Saratoga, California took home one of the top prizes at the Intel International Science and Engineering Fair late last week after showing off her invention, which can fully charge a cell phone in 30 seconds or less. Eesha Khare was given the Intel Foundation Young Scientist Award and a $50,000 prize for being runner-up in the competition, which was won by a 19-year-old who unveiled a new spin on self-driving car technology. Khare’s battery technology requires a new component to be installed inside the phone battery itself, and Intel notes that it also has potential applications for car batteries.

Senate panel hammers Apple over offshore tax strategies

By Patrick Temple-West WASHINGTON (Reuters) - Apple Inc came under fire on Tuesday at a Senate hearing over an investigation that alleged the U.S. high technology icon has kept billions of dollars in profits in Irish subsidiaries and paid little or no taxes to any government. "Apple effectively shifts billions of dollars in profits offshore, profits that under one section of the tax code should nonetheless be subject to U.S. taxes, but through a complex process avoids those taxes," said Senator Carl Levin. ...

Apple's Cook to face Senate questions on taxes

WASHINGTON (AP) — A Senate panel says Apple Inc. is avoiding billions of dollars in U.S. taxes by shifting profits to foreign affiliates and is prepared to question the company's chief executive Tuesday about the "loopholes."

Sprint looks to snap up Clearwire with more appealing offer

Sprint on Tuesday announced a revised offer for wireless broadband wholesaler Clearwire. The carrier is looking to acquire the remaining Clearwire shares it does not already own for $2.97 per share, or $2.2 billion, valuing the company at $10 billion. Sprint has now increased its bid $3.40 per share, upping Clearwire’s value to $10.7 billion. The revised offer represents a 14% premium over the company’s earlier bid and a 162% premium over Clearwire’s closing share price in October when it was rumored to be part of the Sprint-SoftBank merger discussions. Sprint notes that the offer is the best and final offer it will propose. The company’s press release follows below. Sprint Submits Increased Offer for Clearwire Increased Offer of $3.40 Per Share

Internet cable from Cuba to Jamaica comes online

HAVANA (AP) — A company that monitors global Internet traffic says another branch of the Venezuela-to-Cuba undersea fiber-optic cable has come online, connecting the island to nearby Jamaica.

Sprint boosts buyout offer for Clearwire

OVERLAND PARK, Kan. (AP) — Sprint Nextel Corp. has raised its buyout offer for the stake in Clearwire it does not already own by 14 percent.

Google’s subscription music streaming service coming to iPhone and iPad – unofficially

Google took the wraps off of its subscription music streaming service last week at its I/O Developers Conference. To the dismay of many, Google Play Music All Access was only available for Android smartphones and tablets. This isn’t the first time Google has initially ignored iPhone and iPad users — the company’s music upload service, known as Google Listen Now, was also never officially made available on iOS. Luckily enough, third-party developers are creating applications to access the services on Apple devices. James Clancey is the man behind gMusic, the most popular Google Music app on iOS. Clancy sprung into action after hearing Google’s announcement, determined to bring the subscription music streaming service to iPhone and iPad users. He submitted