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Tim Cook smiled as he arrived to give testimony before a Senate committee, reports CNBC's Eamon Javers. And Sen. Rand Paul (R-KY) and Sen. Carl Levin (D-MI) disagree on whether Congress should apologize for "bullying" one of America's "greatest success stories."
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WASHINGTON, May 21- 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.
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Tim Cook testifies before a Senate panel proposing tax changes that would overhaul the corporate tax code, reports CNBC's Eamon Javers & Jon Fortt. And, Carly Fiorina, former HP chairman & CEO; and William George, Harvard Business School professor, discuss what this means for Apple and other corporations.
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Apple Inc. fell $6.07 or 1.4 percent, to $436.86. Dell Inc. rose$. 00 or percent, to $13.41. Hewlett Packard Co. rose$. 16 or. 8 percent, to $21.34.
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*U.S. Senate subcommittee says Apple paid no tax on $29.9 bln dividends. CORK/ DUBLIN, May 21- 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.
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Ireland said on Tuesday it was not to blame for Apple's low global tax payments after the U.S. Senate said the company paid little or nothing on tens of billions of dollars in profits.
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U.S. futures signaled a flat-to-lower Wall Street open on Tuesday, as markets in Europe and Asia remained cautious ahead of Federal Reserve chief Ben Bernanke's testimony to the Senate.
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David Walker, Comeback America Initiative, explains his plan to reform the nation's tax code which would put the top rate at 25% and broaden the base.
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Tim Cook plans to propose tax changes that encourages firms to bring home more of their offshore funds, reports CNBC's Eamon Javers.
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Watson, the IBM computing system that conquered "Jeopardy!" on television, is launching an app business called the Watson Engagement Advisor that can be used to help consumers get answers on mobile devices.
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*U.S. Senate subcommittee says Apple paid no tax on $29.9 bln dividends. DUBLIN, May 21- Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments after the U.S. Senate said the company paid little or nothing on tens of billions of dollars in profits stashed in Irish subsidiaries.
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Robin Headlee, vice president at Millwardbrown Optimor, tells CNBC that Apple's brand value is still higher than Google's, a reflection of how brand is much less volatile than market sentiment.
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WASHINGTON- Two senior White House aides knew weeks ago that a probe of the Internal Revenue Service had found that the U.S. tax agency had inappropriately targeted conservative groups, but did not tell President Barack Obama, a White House spokesman said on Monday.
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Squawk Box Europe anchors discuss corporate tax following the news that Apple may have avoided paying its "fair share".
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Earnings from several retailers are a highlight Tuesday, but, for traders, the Fed will remain the focus all week.
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WASHINGTON/ SAN FRANCISCO, May 20- Using an unusual global tax structure, Apple Inc has kept billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a U.S. Senate report on the company's offshore tax structure said on Monday.
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Apple isn't being valued as an innovator, former CEO John Sculley says.
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Apple Inc. rose $9.67 or 2.2 percent, to $442.93. Dell Inc. rose$. 01 or. 1 percent, to $13.41. Hewlett Packard Co. fell$. 09 or. 4 percent, to $21.18.
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In the wake of Yahoo's announcement on Monday that it's snapping up Tumblr for $1.1 billion, the attention has shifted to which companies could be next.
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SAN FRANCISCO, May 20- Apple Inc will argue for a comprehensive corporate tax reform that will levy a "reasonable tax" on foreign earnings and is not dependent on a company's revenue when it goes before a Senate panel on Tuesday to explain its offshore tax practices.