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Sony cuts sales target for cameras, smartphones for 2014-15

TOKYO (Reuters) - Japan's Sony Corp lowered its sales target for digital cameras to 1.3 trillion yen ($12.7 billion) for the fiscal year to end-March 2015, from a previous estimate of 1.5 trillion yen. Sony also cut its sales target for smartphones and tablets to 1.5 trillion yen in its 2014 fiscal year from an earlier outlook of 1.8 trillion yen. ...

Apple case seen as possible spur to tax action

WASHINGTON (AP) — Now that tech darling Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take action to close loopholes or reform the law.

How cloud services could save Microsoft from sinking PC sales

We all know that the PC industry is in dire straits at the moment, which has naturally led to speculation that Microsoft could also soon find itself in big trouble. But while Microsoft’s struggles to establish itself in the mobile consumer device market are well-documented, the company still has an ace up its sleeve in the form of enterprise cloud services. Barron’s points us to a new note from UBS analyst Brent Thill, who makes the case that Microsoft cloud offerings such as Office 365 and SkyDrive have the potential to give the company a more predictable revenue stream and make the company more like IBM, which for years has raked in high earnings despite being out of the consumer

SoftBank grants Sprint permission to consider Dish buyout

Japanese carrier SoftBank has granted Sprint a waiver allowing it to consider Dish’s $25.5 billion bid for the company. The waiver gives Sprint permission to disclose non-public information and engage in negotiations with Dish regarding its buyout proposal. The Sprint Board of Directors has the right to terminate the existing merger agreement with SoftBank to accept a superior offer, however it has not yet changed its recommendation. SoftBank offered to pay $20.1 billion for a 70% stake in the wireless provider last October. Sprint will conduct due diligence with Dish and make a final decision in early June when shareholders vote to approve or reject SoftBank’s offer. Sprint’s press release follows below. Sprint Provides Transaction Update Sprint Receives Waiver from

The Irish loophole behind Apple's low tax bill

By Tom Bergin LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac computers, channeled profits into Irish-incorporated subsidiaries that had "no declared tax residency anywhere in the world. ...

Senate panel approves immigration bill

WASHINGTON (AP) — Far-reaching legislation to grant a chance at citizenship to millions of immigrants living illegally in the United States cleared the Senate Judiciary Committee on a solid bipartisan vote Tuesday night after supporters somberly sidestepped a controversy over the rights of gay spouses.

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. ...

NVIDIA updates Tegra 4i processor, adds LTE-Advanced support

In effort to curb ongoing market loss to Qualcomm and Samsung, NVIDIA has continued to aggressively upgrade its quad-core Tegra 4 mobile processor. The company on Tuesday announced that its Tegra 4i CPU, a variant of the Tegra 4 that includes an integrated LTE modem, has been updated to support LTE-Advanced networks with speeds of up to 150Mpbs, an increase from traditional LTE speeds of 100Mbps. NVIDIA notes that because of its “software defined radio technology” it can add support for new technologies with a simple software update, making the chip more future-proof than its competitors’. In the future, the company is also planning to update the processor to be compatible with voice-over-LTE technology. NVIDIA’s press release follows below. NVIDIA’s mobile

Microsoft touts Xbox One as all-in-1 entertainment

REDMOND, Wash. (AP) — Microsoft thinks it has the one.

The new consoles from Microsoft, Nintendo and Sony

NEW YORK (AP) — Microsoft is the last of the three big video game console makers to unveil its latest gaming system. The unveiling comes nearly eight years after the Xbox 360 went on sale. It follows last fall's debut of Nintendo's Wii U and a preview in February of the upcoming PlayStation 4 from Sony.