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Apple denies tax 'gimmicks' as critcism mounts

Apple denied Tuesday using "gimmicks" to dodge taxes as the tech giant came under attack from US lawmakers for using "sham" subsidiaries and "convoluted" strategies to shift profits offshore. In a statement issued ahead of a Senate hearing on corporate strategies to minimize taxes, Apple said it "carefully manages its foreign cash holdings to support its overseas operations in the best interests of its shareholders."

Apple sells record $17 billion in bonds at exceptionally low rates to reward shareholders

NEW YORK, N.Y. - Apple Inc. sold $17 billion in bonds Tuesday in a record deal spurred by the company's plan to placate its frustrated shareholders.

Apple's cash plan takes heat off Cook, buys him time

By Poornima Gupta and Ben Berkowitz (Reuters) - Tim Cook wants investors to "think different" about Apple: less as a hyper-growth startup-like company and more as a mature but robust technology corporation with the world's biggest dividend. If Wall Street follows Apple Inc's famous advertising slogan of old, it may relieve some of the pressure on Apple's chief executive, quiet investors' grumbling about its recent share price slide, and buy the company time to do what it says it does best: come up with and market new products.

Apple profit falls for first time in nearly a decade

Apple reported Tuesday that its quarterly profit dipped for the first time in nearly a decade as it squeezed less money from its champions in the competitive smartphone and tablet markets. The maker of iPhones, iPads, iPods, and Macintosh computers stepped in to bolster its stock price by announcing a plan to more than double to $100 billion the amount it will spend to buy back its stock and pay out dividends. Apple raised a coming stock dividend by 15 percent to $3.05 per common share.

Apple buys Silicon Valley startup WiFiSlam

NEW YORK (Reuters) - Apple has acquired a Silicon Valley startup, WiFiSlam, which makes mapping applications for smart phones. Apple confirmed the acquisition, but declined to give details. The news was earlier reported by The Wall Street Journal, which quoted a person familiar with the matter as saying that Apple paid around $20 million for the company. "Apple acquires smaller technology companies from time to time, and we generally do not discuss our purpose or plans," an Apple spokesman told Reuters.

Judge slashes $1 bn Samsung-Apple penalty in half

A judge on Friday cut $450 million from a $1 billion award to be paid by Samsung in a landmark patent lawsuit from Apple, saying a jury had wrongly calculated the damages. US District Judge Lucy Koh affirmed the remainder of the award, amounting to $598.9 million, in the patent infringement case, while denying Apple's request for a bigger penalty. The decision marked the latest twist in the blockbuster trial pitting the maker of the iPhone against the surging South Korean electronics giant.

Apple still has 'magic,' innovation, says CEO Cook

Apple remains ahead of its rivals in the ability to innovate and "create magic" despite tougher competition in key sectors like smartphones and tablets, chief executive Tim Cook said Tuesday. Cook said Apple still has strong growth opportunities because of its ability to work simultaneously on hardware, software and services, brushing aside suggestions that Apple has passed its peak. "Apple has the ability to innovate in all three of these spheres and create magic," Cook said during a question-and-answer session at the Goldman Sachs Technology and Internet Conference.

Apple still has 'magic,' innovation, says CEO Cook

Apple remains ahead of its rivals in the ability to innovate and "create magic" despite tougher competition in key sectors like smartphones and tablets, chief executive Tim Cook said Tuesday. Cook said Apple still has strong growth opportunities because of its ability to work simultaneously on hardware, software and services, brushing aside suggestions that Apple has passed its peak. "Apple has the ability to innovate in all three of these spheres and create magic," Cook said during a question-and-answer session at the Goldman Sachs Technology and Internet Conference.

Greenlight sues Apple, with eye on cash pile

Apple said Thursday it is weighing ways to give shareholders more of its huge cash stockpile, after hedge fund Greenlight Capital filed suit in an effort to press it in that direction. Greenlight sued the maker of iPhones and iPads to block a shareholder vote that includes a management-backed proposal to make it impossible for the Apple board to issue preferred stock without shareholder approval. Greenlight said in a letter to shareholders that it wants Apple to issue "perpetual preferred stock" to distribute a bounty from the $137 billion in cash the company is holding.

Greenlight sues Apple, with eye on cash pile

US hedge fund Greenlight Capital filed suit against Apple Thursday as part of efforts to compel the tech giant to give shareholders more of its huge cash stockpile. Apple responded by saying it has been "in active discussions about returning additional cash to shareholders." Greenlight sued the maker of iPhones and iPads to block a shareholder vote that includes a proposal supported by management to make it impossible for the Apple board to decide to issue preferred stock without shareholder approval.
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