Tim Cook will address reports that his company pays billions less than it should in U.S. taxes each year at a Tuesday hearing in Washington. According to a report by the Senate Permanent Subcommittee on Investigations, Apple avoids the tax payments by shifting profits to subsidiaries in Ireland.
The deadly collapse of a textile factory in Bangladesh has heightened awareness about cheap clothes. Many Americans have become used to inexpensive clothing, but the garments are also discarded at a remarkable rate: Billions of pounds of clothing are recycled each year; nearly half is exported.
In Texas, it may be politically unwise to cross the governor, but some politicians and advocates in the poor Rio Grande Valley are starting to speak out in support of expanding Medicaid. Gov. Rick Perry opposes all parts of Obamacare.
The Senate Permanent Subcommittee on Investigations said the tech giant claimed that three key offshore companies were not tax residents of Ireland or the U.S. One of those subsidiaries paid no taxes for the past five years while it reported income totaling $30 billion.
A federal judge ruled that prosecutors failed to prove the executive knew about a pending congressional investigation into oil flowing into the Gulf of Mexico in 2010. The decision left in place a second charge against the executive, for allegedly making false statements to investigators about the oil flow rate.
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