Apple CEO Faces Tax Probes In Senate Hearing
Senate grilled Tim Cook over Apple Irish subsidiaries and alleged U S tax avoidance. Cook said subsidiaries do not reduce U S taxes and Apple pays all owed taxes. Lawmakers cited a 3.5 billion dollar 2011 figure and 9 billion in 2012. Apple holds over 100 billion offshore while seeking lower corporate rates and tax reform. Cook defended stance that Apple is an American company and a major taxpayer.
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Washington
Senate
Apple Inc
U.S
Tim Cook
Cook
Apple
Congressional Committee
Ireland
IRS official to invoke Fifth at House hearing on targeting
IRS division head Lois Lerner, subpoenaed to testify before the House Oversight Committee, plans to invoke her right not to testify amid a Justice Department criminal investigation. The probe centers on IRS scrutiny of conservative groups applying for tax-exempt status during 2010 and 2012 campaigns. Former IRS Commissioner Douglas Shulman defended actions, saying he did not inform higher ups or Congress.
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Washington
Internal Revenue Service
Lois Lerner
IRS
House Oversight Committee
Lerner
Justice Department
John Boehner
William W. Taylor
Barack Obama
Douglas Shulman
Treasury Department
Congress
McKeon cites Libya attack gaps and defense cuts
House Armed Services Committee Chairman Buck McKeon says U.S. forces were not asked by State Department to help secure the Libyan diplomatic post before the assault. He warns Pentagon budget cuts threaten overseas security with fewer troops and equipment, following a closed briefing on Benghazi.
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Washington
House
U.S
Libya
State Department
Pentagon
Armed Services Committee
Howard “Buck” McKeon
Defense Department
Microsoft reveals Xbox One console
Microsoft unveiled the Xbox One in Redmond Washington, describing it as the next generation entertainment console set to go on sale later this year. The company said downloadable content for the Call of Duty game would debut first on Xbox One and promised more games at the E3 conference. Executives touted the unit as a replacement for set-top boxes with its own guide and voice command channel changes.
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Redmond
Wash
Microsoft
Los Angeles
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Chuck Magers
Dolph Simons
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the World Company
Westar Energy
tSbank
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