Apple has paid the Irish government €14.3bn (£12.7bn), money that the European Commission ruled the tech giant owed due to illegal tax breaks. Ireland's Finance ministry said the payment was a significant milestone, although Dublin insists Apple was not given any special tax treatment. In 2016 the Commission ruled the below 1% effective tax rate the firm paid in Ireland amounted to illegal state aid.
Apple hit a market cap of US$1 trillion on Thursday — and hung onto the record valuation at market close — as the iPhone maker became the first publicly traded U.S. company to reach US$1 trillion.
Apple and Samsung have finally settled a seven-year-long patent dispute, bringing to an end the long-running battle over the design of their rival smartphones. The terms were not disclosed.
General Electric is losing its place on the Dow Jones Industrial Average after more than 100 years in a move that reflects a fall in the firm's fortunes and changes to the US economy. Walgreens Boots Alliance is to take its spot on the financial index, which tracks shares of 30 companies deemed representative of the US economy. The change takes effect on 26 June.
The blue chip Dow Jones Industrial Average suffered its steepest decline since June 2016 on Friday, amid wider losses in United States markets. The fall came after a string of disappointing earnings reports from giants such as Apple.
Apple will pay about US$38bn in tax on the roughly US$ 250bn cash pile it holds outside the US following recent changes to American tax rules. The sum is expected to be the biggest payment under the reforms, which slash the US corporate tax rate.
The European Union and Chile have started negotiations in Brussels for the renewal of the Association Agreement. The first round was held in November and the Commission subsequently launched a consultation aimed at the sectors affected in order to find out their opinions on the issue. This process is planned to conclude on 19 February.
The Argentine Chamber of Integrated Fruit Exporters, CAFI reported that apple and pear exports continued a sharp decline in terms of exported volume, with a downfall of 30% (about 90.000 tons in total) compared to the previous year and 15% less in relation to 2010.
Steve Jobs, who transformed the worlds of personal computing, music and mobile phones, died on Wednesday at the age of 56 after a year-long battle with pancreatic cancer.
Steve Jobs took home 1 dollar a year for serving as Apple's CEO. The company's new leader, Tim Cook, is getting a richer deal. Apple's board has given Cook a restricted stock grant of 1 million shares, Apple reported late Friday in a regulatory filing. Those shares have a market value of 383.6 million dollars, based on the stock's closing price on Friday.