Stocks closed down 1 percent after the minutes from the last Fed policy setting meeting suggested the central bank could begin tapering bond purchases sooner than the market expects.» Read More
Microsoft announced its latest gaming system called Xbox One, reports CNBC's Julia Boorstin.
REDMOND, Wash., May 21- Microsoft Corp gave the world the first look at its new game console on Tuesday, hoping the newly named Xbox One will build on a solid core of gamer fans and become a hub for living room entertainment.
Cisco Systems Inc. fell. 6 percent to $23.80 with 23,250,500 shares traded. Clearwire Corp. rose 4.9 percent to $3.42 with 29,710,900 shares traded. DryShips Inc. rose 4.1 percent to $2.26 with 11,472,400 shares traded.
*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.
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.
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.
*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.
Alex Simmons, UK editor in chief at IGN, tells CNBC that the new Xbox will be an improved version of the 360 but needs to become more like an entertainment hub than a traditional Xbox.
This is Sony's latest attempt to keep the buzz going on its Playstation 4 ahead of Microsoft's XBox launch.
Earnings from several retailers are a highlight Tuesday, but, for traders, the Fed will remain the focus all week.
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.
SYDNEY, May 21- Microsoft Corp is expanding its services for hosting and processing online data in Australia with the establishment of two new "cloud" computing data centres in the country. Such cloud computing, pioneered by Amazon.com Inc, is a fast-growing business for Microsoft and has attracted other big tech names including Google Inc..
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.
In a 40- page memorandum released a day before Apple CEO Tim Cook is scheduled to testify before Congress, the Senate's Permanent Subcommittee on Investigations identified three subsidiaries that have no "tax residency" in Ireland, where they are incorporated, or in the United States, where company executives manage those companies.
A day before Apple CEO Tim Cook heads to Washington, the Senate released a report that showed Apple used an unusual global tax structure to pay little or no taxes.
LONDON, May 20- British Prime Minister David Cameron on Monday told Google's Executive Chairman Eric Schmidt and other business leaders that he expected their companies to pay their taxes in exchange for benefiting from low tax rates.
Yahoo's $1.1 billion acquisition of Tumblr may have been too expensive, Porter Bibb says.
Cisco Systems Inc. fell 2.0 percent to $23.76 with 29,194,000 shares traded. Facebook Inc. fell 1.7 percent to $25.80 with 26,942,000 shares traded. Intel Corp. rose. 2 percent to $24.08 with 16,610,500 shares traded.
Google is using Nvidia to fight its main rivals: Apple in mobile computing, Microsoft in PCs and gaming, and Facebook in social networking, TheStreet.com says.
Cloud computing remains a major secular trend in technology, but investors may not fully appreciate the benefits for Amazon and Google.