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BUSINESS
October 24, 2013 | Bloomberg News
Carl Icahn, the billionaire activist investor who has made a career of pushing companies to make changes to boost shares, published a letter to Apple Inc. Chief Executive Tim Cook urging the company's board to increase the size of a stock repurchase. Icahn promised not to tender his shares if Apple agrees to his proposal to implement a $150-billion repurchase, he said in the open letter that he posted on his website Thursday. Icahn said he has increased his holdings in the company to 4.7 million shares worth $2.5 billion, from 3.4 million shares in August.
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NATIONAL
July 11, 2013 | By David Horsey
In the battle of the technology business mega-monsters, Apple Inc. has lost a round to Amazon.com. On Wednesday, a federal judge in New York ruled that Apple “conspired to raise the retail price of e-books” with the aim of cutting into Amazon's market share. The judge said Amazon may now seek damages from Apple. The federal prosecutor in the case claimed this was a big victory for consumers. Well, maybe yes and maybe no. Amazon has become the 800-pound gorilla in the publishing world - actually, make that 8 million . The company sells so many more books than anyone else that it has driven so-called bricks-and-mortar bookstores, both big and small, to near extinction.
CALIFORNIA | LOCAL
June 5, 2013 | By Maria L. La Ganga
SAN FRANCISCO - Faced with a steep rise in smartphone theft, the San Francisco district attorney and New York's attorney general said Wednesday that they will convene a summit next week with the top four phone makers to push for a technological fix to what they call a crime epidemic. “Last year, 50% of all robberies in San Francisco involved a mobile communications device,” San Francisco Dist. Atty. George Gascon said in an interview. “In Los Angeles it was 30%; 1.6 million Americans last year were victims of smartphone theft, and we've started to see some violence.” Gascon said representatives from Apple Inc., Google Inc., Samsung Electronics Co. Ltd. and Microsoft Corp.
BUSINESS
October 24, 2007 | From Bloomberg News
Apple Inc. said Tuesday that almost one of every six iPhones sold may have been unlocked to run on unauthorized wireless networks, surprising analysts who had estimated the problem wasn't as widespread. Chief Operating Officer Timothy Cook said 250,000 of the nearly 1.4 million iPhones sold might have been bought by users with the intention of unlocking them to work on a network other than AT&T's. Customers who aren't signing up with AT&T, Apple's approved service provider in the U.S.
BUSINESS
October 27, 2007 | From the Associated Press
Apple Inc. said Thursday that it would no longer accept cash for iPhone purchases and would now limit sales of the cellphone to two per person in a move to stop people from reselling them. Before the policy started Thursday, there was no cash restriction and the purchase limit was five per person.
BUSINESS
August 2, 2013 | By Chris O'Brien
In a filing on Friday, Apple Inc. fired back against a series of measures proposed by federal attorneys that would restrict the company's ability to strike electronic-book deals. Apple attorneys said the "injunction is a draconian and punitive intrusion into Apple's business, wildly out of proportion to any adjudicated wrongdoing or potential harm. Plaintiffs propose a sweeping and unprecedented injunction as a tool to empower the Government to regulate Apple's businesses and potentially affect Apple's business relationships with thousands of partners across several markets.
OPINION
May 23, 2013
Re "Apple's U.S. tax shelters faulted," May 21 French novelist Honoré de Balzac once wrote, "The secret of a great success for which you are at a loss to account is a crime that has never been found out, because it was properly executed. " That statement describes Apple Inc. perfectly, except it has finally been found out. Thankfully, Sen. Carl Levin (D-Mich.), chairman of the Senate Permanent Subcommittee on Investigations, seeks to expose Apple's fraudulent tax policies.
BUSINESS
August 15, 2008 | Michelle Quinn, Times Staff Writer
The Securities and Exchange Commission on Thursday settled the last civil case against a former Apple Inc. executive accused of stock-option fraud, closing its investigation into one of Silicon Valley's highest profile companies. Nancy Heinen, who was Apple's general counsel until leaving in 2006, agreed to pay $2.2 million in disgorgement, interest and penalties.
OPINION
May 24, 2013
Re "Apple execs grilled over tax strategy," Business, May 22 Unbelievable, stunning, incredible that members of Congress have the audacity to bring the chief executive of one of the most successful companies this country has ever seen to grill him on Apple Inc.'s tax strategy (which, by the way, is perfectly legal) so they can try to wring more money out of him. Apple paid $6 billion in taxes last year; isn't that enough? Forcing Chief Executive Tim Cook to respond to legislators who have been on the public dole much of their lives and haven't done much in the way of intellectual innovation (or even fixing this country economically)
BUSINESS
August 8, 2007 | Michelle Quinn, Times Staff Writer
Apple Inc. is revamping the product that put it on the high-tech map: the desktop computer. Apple Chief Executive Steve Jobs on Tuesday introduced a line of iMac computers that are thinner and faster than their predecessors. The computers come with new software for storing and editing video and photos. The product's slogan is, "The new iMac. You can't be too thin. Or too powerful."
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