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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.
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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.
BUSINESS
April 23, 2014 | By Chris O'Brien and Andrea Chang
Talk of Silicon Valley losing steam was put on hold as two technology titans, Apple Inc. and Facebook Inc., tallied better-than-expected quarterly earnings and revenue. Apple's stock climbed more than 7% in after-hours trading after it reported that sales of iPhones blew past Wall Street's projections. Facebook's shares spiked 4% after it said ad revenue rose 82% year over year. Although many tech stocks slid in recent weeks, the robust financial results demonstrated that, at least for now, the underlying businesses of these two leading companies remain strong.
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
June 27, 2007 | Thomas S. Mulligan, Times Staff Writer
The arrival of Apple's Inc.'s iPhone at stores Friday is now an official media event, certified by the appearance of the nation's unofficial man-on-the-street. Greg Packer, 43, a retired highway maintenance worker and serial quote machine from Long Island, sat on a folding chair Tuesday at the head of the line outside New York's flagship Apple store on Fifth Avenue. He said he had been there, on the sidewalk outside Apple's distinctive glass-cube atrium, since around dawn the day before.
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 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.
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.
BUSINESS
April 23, 2014 | By Chris O'Brien
After weeks of anxiety among investors over Apple Inc.'s fiscal second-quarter results, the company delivered a one-two punch of good news Wednesday that sent its stock soaring. First, Apple posted revenue for the three months ending in March that beat both Wall Street's projections and its own guidance. And second, the company said it was expanding its record stock buyback and dividend plan to $130 billion from $105 billion. "We are announcing a significant increase to our capital return program," Apple Chief Executive Tim Cook said in a statement.
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