Apple (AAPL) Determined to Receive Up to EUR13 Billion in Undue Irish Tax Breaks - EC

Irish Finance Minister Noonan Disagrees with EU Tax Assessment on Apple (AAPL)

The following was posted to Ireland's Finance website on Tuesday:

Minister Noonan disagrees profoundly with Commission on Apple

What has happened?

The European Commission has today issued a negative decision in the Apple State aid case.

Ireland has been instructed by the European Commission to recover up to 13bn of alleged state aid from the company covering a ten year period.

Notwithstanding the negative decision, no fine or penalty has been imposed on the State.

The European Commission has stated that This decision does not call into... More

Apple (AAPL) Unfavorable Tax Ruling is 'Manageable' - RBC

RBC Capital analyst Amit Daryanani reiterated an Outperform rating and $117 price target on Apple (NASDAQ: AAPL) saying today's tax ruling is "manageable" and sees minimal impact on the company's EU operations.

Daryanani commented, "The European Commission's statement claims AAPL received illegal tax benefits of 13B or $14.5B during the... More

Apple's (AAPL) Cook: Every Co. in Ireland and EU Now at Risk of Taxes Under Laws that Never Existed

Apple (NASDAQ: AAPL) CEO Tim Cook issued the following statement in response to the EC ruling that the company received EUR13 in illegal Irish tax breaks:

A Message to the Apple Community in Europe

Thirty-six years ago, long before introducing iPhone, iPod or even the Mac, Steve Jobs established Apples first operations in Europe. At the time, the company... More

Apple (AAPL) criticizes EU ruling; says it will hurt European economy - Bloomberg

Apple (Nasdaq: AAPL) criticizes EU ruling; says it will hurt European economy, according to Bloomberg.

The company sads that the case may hurt its investment in Europe and expects the decision to be overturned.

EU hits Apple with $14.5 billion Irish tax demand

By Foo Yun Chee and Padraic Halpin

BRUSSELS/DUBLIN (Reuters) - The European Commission ordered Apple Inc to pay Ireland unpaid taxes of up to 13 billion euros ($14.5 billion) on Tuesday as it ruled the firm had received illegal state aid.

Apple and Dublin said the U.S. company's tax treatment was in line with Irish and European Union law and they would appeal the ruling, which is part of a drive against what the EU says are sweetheart tax deals that usually smaller states in the bloc offer multinational companies to lure jobs and investment.

UPDATE: Apple (AAPL) May Face Billions of Arrears in Irish Tax Case - Bloomberg

(Updated - August 29, 2016 1:45 PM EDT)

Apple (NASDAQ: AAPL) may learn the outcome of the EU's probe into tax arrangements with Ireland as soon as Tuesday, according to Bloomberg, citing people familiar with the situation. Arrears could run into the billions... More

Facebook CEO says group will not become a media company

By Giulia Segreti

ROME (Reuters) - Facebook Inc. will not become a media company, its founder and CEO Mark Zuckerberg said on Monday, telling students the firm would remain a technology platform.

An increasing number of users are turning to social media networks, such as Facebook (NASDAQ: FB) and Twitter (NYSE: TWTR), to find their news, but... More