Apple would have paid a tax rate of about 15 per cent last year, far below the 25.2 per cent it reported, had it not used a form of reserve accounting that sets it apart from other big US technology companies.
The rare accounting treatment has helped to distract attention from Apple at a time when the tax-avoidance strategies of other cash-rich US tech companies, notably Google, have come under public attack, according to tax experts.
However, Apple’s tax planning is likely to come under the microscope on Tuesday when Tim Cook, chief executive, appears before the US Senate’s permanent investigations subcommittee.>> Read More
Google’s big keynote at its I/O developers conference this week wore me out.
Not because it lasted a grueling three hours and fifty minutes, but because of what was announced. With every new product update, every new feature, every new virtual service, it became more and more clear that Google isn’t just a search company that makes loads of cash by showing you ads. It’s creeping into every aspect of our digital, physical, and private lives at an exponential rate.
I’m still trying to wrap my mind around it.
Google isn’t just the backbone of the Internet anymore. It’s rapidly becoming the backbone of your entire life, all thanks to data you’re voluntarily giving up to a private company based on your Web searches, photos, Gmail messages, and more.
After spending three days at I/O this week, it became more apparent than ever that unless millions (billions?) of people suddenly change their mind and start using alternative tech tools, or unless the government steps in waving the anti-trust banner, our lives, our history, and our personal wealth could be managed by one company –– Google.>> Read More
Amitabh Bachchan will make gains of at least 4,600% in the initial public offer (IPO) of Just Dial, and that’s only at the lower end of the price band.
If the IPO is fully subscribed at the upper end of the price band or Rs 543, the gains will be at 5,330%.
He was allotted 62,794 shares at a price of Rs 10 in January 2011, according to a disclosure in the company’s red herring prospectus, an information document that every company coming out with a maiden public issue has to make available to potential investors.
The shares were ‘allotted in accordance with the share subscription agreement dated February 10, 2011 executed between our Company and Amitabh Bachchan,’ said the prospectus.
The shares were then valued at Rs 6.27 lakhs. They are now worth between 2.95-3.40 crore.>> Read More
Google CEO Larry Page surprised the attendees at the company’s I/O developers conference today, capping off the lengthy keynote presentation with a speech about the future of technology and how negativity in the press and between rival companies is hurting innovation. He also took questions from the audience, a rare move from a CEO of company as big as Google.
It’s really good. You should watch it.
We’ve clipped Page’s speech and Q&A session from today’s keynote presentation for you below. (You can also watch the entire four-hour presentation if you really want to.)
Syria has seen a massive slump in Internet traffic, with the country effectively cut off from the Web, an Internet monitor reported. It is the latest in a series of cyber-blackouts to strike Syria since the conflict began two years ago.
Google announced that its services in the country were offline at 9:45pm local time (1845pm GMT) on Monday. The Internet giant’s transparency report published on its website showed a huge fall in activity.
The blackout rendered most Syrian websites inaccessible according to reports, although some websites that are based abroad can still be accessed.
Image from labs.umbrella.com
Dan Hubbard, Chief of Technology at Umbrella Security Labs, wrote in a blog post that>> Read More