WASHINGTON - Apple Inc came under fire on Tuesday at a Senate hearing over an investigation that alleged the U.S. high technology icon has kept billions of dollars in profits in Irish subsidiaries and paid little or no taxes to any government.
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MUMBAI/BANGALORE - IT outsourcing company iGate Corp said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry's best-known executives for sexual harassment.
LONDON - Vodafone will reinvest a $3.2 billion dividend from its healthy U.S. arm to counter weakness in southern Europe that contributed to the largest ever quarterly fall in the group's main revenue measure. | Video
SAN FRANCISCO/NEW YORK - 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. | Video
STOCKHOLM - Ericsson announced on Tuesday plans to shut its telecom cable manufacturing facility in Sweden and would take a 500 million Swedish crown ($75 million) charge as a result.
- Charlie Ergen, the chairman of U.S. satellite company Dish Network Corp , has offered to buy bankrupt broadband company LightSquared Inc's wireless airwaves, a source close to Ergen told Reuters.
The Yahoo-Tumblr deal’s most pressing issue isn’t what will come of balance sheets, it’s what will come of each organization’s corporate culture.