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Apple CEO Defends Tax Practices At Senate Hearing

Apple CEO Tim Cook faced tough questions on Capitol Hill on Tuesday. He defended a tax strategy that allows Apple to avoid taxes on tens of billions of dollars of profits. Cook also called on the Congress to lower the U.S. corporate tax rate.
NPR

Microsoft Unveils Its New Xbox One

Microsoft has designs on your living room. The software giant's new game console — Xbox One — uses speech-recognition technology and physical commands. Not just to control games, but also your TV, Skype and recorded video. Microsoft demonstrated the new device Tuesday.
NPR

Court Rules Vacation Rental Site Illegal In New York

In New York, a judge has dealt a setback to Airbnb, the popular website for short term apartment rentals. The judge ruled an Airbnb user violated a New York City law when he rented a room to a visitor from out of town. The judge's decision casts doubt on New Yorkers' ability to make use of the site legally.
NPR

Battle Lines Harden In Debate Over Blame For IRS Controversy

The Treasury Department's inspector general, who faulted the IRS for flagging conservative groups for extra scrutiny, is now investigating how the agency is monitoring the political activities of tax-exempt groups. These so-called social welfare organizations are not supposed to be primarily about politics, although many seem to be.
NPR

Qantas Airlines To Offer In-Flight Books

The Australian airline plans to customize works by Australian authors to fit the length of the flight.
NPR

Earning News Sends Home Depot Stock Higher

Home Depot got a boost from the housing recovery. Its first quarter net-income rose 18 percent, exceeding expectations. The company acknowledged that while cool and wet spring weather had a negative impact on some of Home Depot's seasonal business, its core business stayed strong.

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