Lawmakers are demanding to know what went wrong and who is to blame at the IRS. Two Senate committees held hearings yesterday on the agency's aggressive handling of applications from conservative groups who were seeking tax-exemption. A top IRS official facing a House committee, today, intends to invoke her Fifth Amendment right not to testify. NPR's Peter Overby reports.
Apple was criticized in a Senate committee hearing Tuesday for using complex accounting to minimize the corporate taxes it pays. One key piece of the company's tax strategy: It funnels lots of its profits through subsidiaries in Ireland.
Offering low corporate tax rates has been a fundamental part of Ireland's economic strategy for decades — a way to get foreign companies to set up operations in the country.
It's exactly the sort of futuristic thinking you'd expect from Google and NASA: Late last week, the organizations announced a partnership to build a Quantum Artificial Intelligence Lab at NASA's Ames Research Center.
If you have a savings account you probably already know this: Your money there is losing value to inflation. Yields are so low that returns are not even keeping up with the cost of living.
I've been watching some of my own savings dwindle. And that prompted me to take up a challenge: I'm taking $5,000 from personal savings and putting it to work. I'm not a financial whiz, pundit or any kind of guru.
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
MELISSA BLOCK, HOST:
And I'm Melissa Block.
The top executives of Apple faced tough questions today on Capitol Hill. They came at a hearing about Apple's alleged avoidance of billions of dollars in U.S. income taxes. Yesterday, Senate investigators released a study describing how the maker of the iPhone, iPad and Mac computers used subsidiaries based in Ireland to avoid income taxes on a big chunk of its global profits.
Jamie Dimon, the chairman and CEO of JP Morgan Chase, has beaten back the most significant challenge to his leadership since he took charge. Company shareholders turned down a proposal that would have taken away one of his titles.
But as NPR's Jim Zarroli reports, shareholders made clear they are unhappy about the performance of some board members.
The tech industry is getting a lot in the Senate's immigration overhaul bill. It increases the number of temporary worker visas for skilled technical workers but the industry is pushing for more, including the end of provisions meant to protect American tech workers from unfair competition. The industry's goals and tactics are antagonizing other groups that want to see the bill pass.
Now, the cash register re-imagined. Paying for things online with your mobile phone can be as easy as paying with cash but digital payment companies, like PayPal and Square, think the big money for them is still at the register. So they're rushing head-long into brick-and-mortar retail, eager for new ways to make old-fashioned money.
From member station WHYY, Zack Seward has the story.
Microsoft unveiled its new Xbox One Tuesday, displaying a device that takes new steps in game consoles' journey to becoming all-purpose entertainment and communication devices. The new console replaces the Xbox 360, which has been on the market for nearly eight years.