Apple CEO grills over tax avoidance at Senate hearing
Tim Cook defended Apple before the Senate Permanent Subcommittee on Investigations, saying Irish subsidiaries do not cut U.S. taxes while acknowledging offshore profits and urging tax code reform. The subcommittee cited Apple as a model of legal avoidance with estimates of 3.5 billion and 9 billion in untaxed federal taxes for 2011 and 2012. Cook emphasized American identity and Apple’s role as largest U.S. corporate taxpayer while urging tax rate reductions. CFO Peter Oppenheimer and Tax Chief Phillip Bullock accompanied Cook.
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Washington
Senate
Apple Inc
U.S
Tim Cook
Cook
Senate Permanent Subcommittee
Apple
Ireland
Congress
Peter Oppenheimer
Phillip Bullock
Capitol Hill
Homeland Security and Governmental Affairs
Senate OKs food stamp reduction in farm bill
The Senate voted to keep a 400 million dollar annual cut to SNAP as part of a five year farm bill. The debate highlighted a split with the House over eligibility rules and the size of reductions. The Senate plan targets states with cheater heating assistance and a Roberts amendment would have expanded the cuts.
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Senate
House
Senate Agriculture Committee
Debbie Stabenow
D-Mich
Stabe
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Pat Roberts
R-Kan
Kristen Gillibrand
D-N.y
Barack Obama
Agriculture
Tom Vilsack
Roberts
Dimon Survives Shareholder Vote at JPMorgan Chase
Jamie Dimon, JPMorgan Chase CEO and chairman, narrowly survived a vote on separating the roles with 32 percent support. Shareholders approved only three directors, signaling rebuke over a $6 billion trading loss while the bank posts record profits and a 12 year stock high.
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Tampa
Fla
Jamie Dimon
Jpmorgan Chase
U.S
Dimon
Jpmorgan
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Honeywell
James Crown
Ellen Futter
American Museum of
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Exxon Mobil
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CIW Investment Group
Cote, Crown and Futter
Patterson
Lawrence Hamermesh
Widener Institute of Delaware
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