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WASHINGTON — Facing down blistering criticism on Capitol Hill that Apple sidestepped billions of dollars in taxes, the company’s chief executive, Timothy D. Cook, carefully defended Apple’s record Tuesday, rejecting any suggestion of misconduct but avoiding clashes with skeptical legislators. “It’s important to tell our story, and I’d like people to hear directly from me,” Mr. Cook told a Senate panel during questioning by Senator John McCain, an Arizona Republican. Apple, … [Read more...]
He was given months to live last June, but that didn't stop Zach Sobiech from becoming a rock star – and an inspiration to millions. Sobiech passed away Monday, 17 days after his 18th birthday. First diagnosed with osteosarcoma when he was 14, Sobiech's music became his way of expressing himself. His song "Clouds" not only went viral last December, but also resulted in a star-studded celebrity tribute video earlier this month. "My closure is being able to get my feelings into these … [Read more...]
(Reuters) - A group of ex-Nokia software developers unveiled its first smartphone on Monday, aiming to prove their former employer wrong by making a success of a technology dropped by the Finnish mobile phone maker. Jolla was founded by Nokia's former MeeGo software team that was shut down after the company decided to switch to Microsoft's Windows Phone software in 2011. With just 70 employees and 11 million euros ($14.11 million)in venture financing, Jolla joins a handful of boutique … [Read more...]
(Reuters) - 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 prepared testimony released by the company and submitted ahead of Apple Chief Executive Tim Cook's hearing on Tuesday before the Senate Permanent Subcommittee on Investigations, Apple denied it employed "tax gimmicks" like using Cayman … [Read more...]
(Reuters) - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand. The deal, announced on Monday, is a bold bet by Yahoo Chief Executive Marissa Mayer to revitalize the company by co-opting a Web property with strong visitor traffic but little revenue. The combination of Yahoo and Tumblr creates an online powerhouse with roughly one … [Read more...]
BOISE, Idaho (AP) — An Internet entrepreneur and former Wall Street derivatives analyst contends central Idaho's Sun Valley resort and the Twitter Inc. social media site heisted his handle. Leonard Barshack, who in the 1990s founded the Internet email listing service Bigfoot, is suing Twitter and the Sun Valley Co., demanding they return the handle "SunValley." Barshack filed the lawsuit in Idaho's 5th District Court with his lawyer and wife, Erin Smith, this month, arguing he began … [Read more...]
GREENBURGH, N.Y. -- Carmelo Anthony will have his injured left shoulder re-examined by doctors in the coming days to determine the extent of damage and course of rehabilitation. "I don't think it's any major damage," Anthony said Monday after meeting with the Knicks' coaching staff for exit interviews. "But we'll see. We'll find that out shortly." Anthony first injured his shoulder on April 14 against the Indiana Pacers. He said on Monday that it affected him throughout the … [Read more...]
Frank Vogel said Monday that he has great respect for LeBron James and the Miami Heat, but as for James' perception that the Indiana Pacers coach considers Miami "just another team," he said the Heat superstar is mistaken. "Sorry, sports world, the words 'just another team' never came out of my mouth. Great respect for LBJ and the champs. Looking forward to [a] great series," Vogel said Monday, according to NBA.com. On Saturday night, after the Pacers won their series against the New … [Read more...]
To my friends at big companies, I'm sure you wonder, "why are large companies so routinely beaten by small teams with fewer resources?" It's a question of the ages: How did David kill Goliath? Start-ups and underdogs have nothing to lose. Their fear of change pales in comparison to their fear of being killed, which is always right around the corner. In essence, small teams with big dreams and limited resources must make bold moves. As a result, they are able to stomach large amounts of … [Read more...]
Joseph Schumpeter — Eat your heart out! We are living in an era of "creative destruction" at a scale you could have never imagined. Hell, we can’t even imagine it! Everything is being vacuumed up into the universe of Digital where software engines transform our atoms into bits, collapsing distance and time into new states of being we can only call virtual. So, yes, it does feel like software is eating the world. Such amorphous fears need to find a home in more concrete targets, so to … [Read more...]
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