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Apple finally admits it has a diversity problem

8:45AM | Wednesday, 13 August

Apple has become the latest in a string of major tech companies to admit it has a problem with gender and ethnic diversity, according to figures it released overnight.   The news follows a similar revelation from Google in May, which led to a string of other major tech companies, including LinkedIn and Twitter, admitting they too have gender and ethnic diversity issues.   According to Apple’s figures, 70% of its 98,000-strong global workforce is male, a rate higher than LinkedIn where 61% of staff are male, but roughly equal to Google and Twitter.   The figures also show 80% of Apple’s tech positions and 72% of its leadership positions are held by men.   However, it’s not just in tech roles where Apple has a gender diversity problem, with the figures showing female employees make up just 35% of non-tech roles. This compares to 50% at Twitter.   In terms of ethnic diversity, 55% of Apple’s US workforce identify as white, 15% as Asian, 11% as Hispanic, 7% as Black, 2% as two or more ethnicities, 1% as other and 9% are undeclared.   However, the figures for ethnic diversity in leadership positions are far worse, with 64% identifying as white, 21% as Asian, 6% as Hispanic, 3% as Black and 6% as undeclared.   In a statement, chief executive Tim Cook said “inclusion and diversity have been a focus” for the company under his leadership, but admitted the tech giant still has a long way to go.   “Let me say up front: As CEO, I’m not satisfied with the numbers on this page,” said Cook.   “They’re not new to us, and we’ve been working hard for quite some time to improve them. We are making progress, and we’re committed to being as innovative in advancing diversity as we are in developing our products.”   Cook said the company is taking a number of steps to overcome gender and ethnic inequality, including its sponsorship of LGBT rights group Human Rights Campaign, and its recent pledge of $100 million to President Obama’s ConnectED initiative.   He also said the recent appointments of senior executives Eddy Cue, Angela Ahrendts, Lisa Jackson and Denise Young-Smith are examples of how the company’s culture is changing under his leadership.   The figures were released just one day after the Victorian ICT for Women Network organised an event at Melbourne’s Deakin University called Go Girl Go for IT. The event was aimed at encouraging more high school aged girls, from Years 8 to 11, to consider a career in IT in order to overcome the gender disparity in the tech industry.   Go Girl Go for IT communications team lead Sara Ogston told SmartCompany the challenge is to encourage more girls and women in the education system to consider a tech-related career.   “I think a lot has to do with when applications are open for tech-related jobs, if girls or women don’t have the skills, they won’t apply or be considered for those jobs. So we need more diversity at the education level, at university and high school,” says Ogston.   “I also think having work experience and internships available to people who aren’t necessarily from tech-focused universities or courses can also potentially be a first step into a tech-related role.”   This article originally appeared on SmartCompany.

iPhones still Apple’s bread and butter as profits reach $US7.7 billion

7:01AM | Wednesday, 23 July

The iPhone is still Apple’s bread and butter gadget, as the tech titan reports strong quarterly profits led by its iPhone sales.   Apple’s good news comes after its biggest rival in the smartphone market, Samsung, recently reported quarterly guidance far weaker than expected.   Apple reported its fiscal third quarter (April-June) results overnight in the US, posting a profit of $US7.7 billion ($A8.19 billion), up from $6.9 billion for the same quarter last year, and a quarterly revenue of $37.4 billion.   Apple sold 35.2 million iPhones during the quarter, compared to 31.2 million in the same period a year ago.   According to The New York Times, the quarter ending in June is traditionally a slow time of year for smartphone sales industrywide, as many consumers hold out until the holiday shopping season to buy new phones.   The highly anticipated release of the iPhone 6 with a larger screen, slated for later this year, will likely see the product remain the jewel in Apple’s crown.   The tech giant’s Mac computers were its second best performing product, selling 4.4 million units in the quarter, up from 3.8 million the same time last year.   “Our record June quarter revenue was fuelled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” said Tim Cook, Apple’s CEO.   International sales drove 59% of the quarter’s revenue.   Tablets let the company down, with iPad sales shrinking to 13.3 million from 14.6 million last year.   Apple shareholders will be satisfied with the results, with Cook announcing the company returned over $8 billion in cash to shareholders through dividends and share repurchases during the quarter.   Apple also provided a guidance for its fiscal 2014 fourth quarter, estimating revenue between $37 billion and $40 billion and a gross margin between 37% and 38%.   This article originally appeared on SmartCompany.

NEWS WRAP: ‘Strong sales of iPhone and Mac’ boost Apple’s third quarter revenue

7:25PM | Tuesday, 22 July

Apple has reported its third quarter results, posting a quarterly revenue of $37.4 billion and a quarterly net profit of $7.7 billion, or $1.28 per diluted share.   International sales drove 59% of the quarter’s revenue.   Apple chief executive officer Tim Cook says the company’s revenue in the quarter “was fuelled by strong sales of iPhone and Mac and continued growth of revenue from the Apple ecosystem”, which drove “the company’s highest EPS growth rate in seven quarters”.   “We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce,” he says.   Microsoft Cloud drives strong fourth quarter results Microsoft has announced revenue of $23.38 billion for the quarter ended June 30, posting a gross margin of $15.79 billion, an operating income of $6.48 billion, and diluted earnings per share of $0.55 per share.   Microsoft chief executive officer Satya Nadella says the company’s focus cloud technology was behind the strong results.   “I’m proud that our aggressive move to the cloud is paying off – our commercial cloud revenue doubled again this year to a $4.4 billion annual run rate,” he says.   Timehop raises $10 million Timehop, an app that serves as a personal “today in history” memo by sourcing social networking photos and posts from your past has raised $10 million in new funding, TechCrunch reports.   The Series B funding round was led by Shasta Ventures with the participation of previous investors Spark and O’Reilly Tech Ventures and angel investors including Randi Zuckerberg.   Overnight The Dow Jones Industrial Average is up 61.81 to 17,113.54. The Australian dollar is currently trading at US94 cents.

Will Apple’s HealthKit and Health app empower or frustrate?

6:00PM | Tuesday, 10 June

If you thought that self-tracking and the collection of personal health and fitness metrics was just a fad then an announcement last week by Apple CEO Tim Cook at the annual Apple Worldwide Developers Conference might suggest otherwise.   A Health app and a developer tool named HealthKit, which is designed to serve as a hub to allow various health apps and fitness tracking devices to “talk” to one another, have been included in iOS 8.   But are these “new” developments from Apple really all that new – and do they indicate that matching hardware in the form of wearables is next on Apple’s launch list?   What Apple and partners such as the Mayo Clinic envisage is, for example, an app that monitors heart rate, blood pressure, blood sugar or cholesterol. It would then be able to seamlessly share data with a hospital app or directly with healthcare professionals.   Building a technical infrastructure to develop health apps, or to enable the sharing of information between various third party apps, is an ambitious task.   Both Microsoft and Samsung are already entering the field of wearables with announcements of plans to release smart watches.   Apple’s latest offering adds to the speculation of the long awaited iWatch with reports in could be released as soon as October.   Meanwhile the latest advertisement (below) for the iPhone 5S shows people using a variety of wearable products already on the market.   The benefits of aggregating health and fitness data in this way are fairly clear in terms of how medical histories will be taken, how they are shared and the aggregation of personal data. It should provide better experience for those who use personal metrics in various aspect of their daily lives.   What’s in a brand name?   Some of the celebratory hype around HealthKit was overshadowed by an Australian start up which took Apple to task for using the same name of their practice and patient management software.   In a blog post the Melbourne-based company was both flattered and annoyed that Apple had used its established brand name:   They didn’t feel that they had to do a quick domain search – it would have taken 5 seconds to type www.healthkit.com into their browser and discover us. Would it have made any difference to them? Are they so big that they are above doing an ordinary Google search?   We might also wonder what other issues Apple’s health data aggregation system might face beyond this naming fiasco.   When a user opens any of Apple’s HealthKit enabled apps the information they produce will be housed in database and is immutable and read-only. What this means for developers is that apps can be developed which can collect and analyse this data in a variety of pre-determined ways.   Permissions and privacy   This highlights a range of problems that are likely to implicate and frustrate users, health care professionals and administrators. Naturally issues of privacy are likely to be significant factor in how well Apple’s health apps actually work.   Developers will need to seek end-user permissions to collect data on their behalf when they build Apple’s HealthKit into their apps, which means spelling out exactly which permissions they are seeking.   Given the whole logic of HealthKit assumes, to some degree, an interoperability between applications and datasets, it would be fair to suggest that there are likely to be gaps between what the technical capacities and outcomes for end-users.   Take for instance an app that has been designed to use a measurement from one device and ignore data on that same variable from another device. Or a user may grant access to a third party app to their pedometer data but this might not mean that the same app has the permissions to access other variables to produce meaningful data (such as location, heart rate, age, weight or gender).   Not so healthy competition   Vendors operating in this market will compete not only at the level of the brand but also at the level of components, algorithm and databases. An app might use Nike Fuel Band data over Fitbit when it takes calorie data to make some or another secondary calculation based on that data.   Organisations such as Microsoft are also partnering with developers who are designing apps available for medical practitioners to use in telemedicine and the consulting room.   This tethering of devices and data to proprietary platforms (Apple vs Microsoft) means that patients and doctors might need to use a certain product and patients might be restricted in terms of what systems they can use to track their health.   The trade-off of openness to get systems to market quickly is going to make attracting users and developers difficult and makes Apple’s (and others) vision of health data aggregation far less attractive or whole.   Suneel Jethani is a PhD candidate and lecturer in the media and communications program in the school of culture and communication at the University of Melbourne. This story was originally published at The Conversation. Read the original article.

Swift: How Apple’s new coding language lives up to its name

6:51AM | Tuesday, 10 June

As Apple’s Worldwide Developers Conference (WWDC) winds up in San Francisco today, 1,000 Apple engineers and 5,000 developers will return to their parts of the world armed with Apple’s own programming language.   In his keynote on Monday, Apple CEO Tim Cook unveiled – among other new developments – programming language Swift and claimed it to be a significantly faster code for development across iOS and OSX.   Apple is the latest tech firm to produce their own programming language (Google and Microsoft also have their own languages) and Swift can be used by Apple developers as of today with 677 pages of documentation available in the iBooks store.   But why would a company want their own programing language – especially when existing, general purpose codes such as Objective-C and C have been successfully used for 20 years?   So what’s so good about Swift?   It pretty much comes down to speed.   While Apple (and other companies) supply the hardware, developers ultimately bring the most utility value out of technologies. The faster developers can code, the more apps can be created.   So let’s have a look at why Swift is the next big thing (and why developers should take the time to learn a new language, as it were):   Swift is much easier to code with. Swift looks much “cleaner” than traditional code. In addition to getting rid of nested brackets and semicolons (which makes code look very complex and harder to maintain), programmers can now use inferred types, which means that variables and constants can be declared without necessarily specifying the data type.   Developers can reduce debugging time over mundane and trivial errors (if you’re interested in the nitty-gritty, Swift manages unsafe codes by self-managing memory, preventing overflows – in arrays, for example – and properly handling nil objects).   It also means that new developers can be spared the need to learn Objective-C’s complex and verbose syntaxes (but Swift will sit alongside existing Objective-C and C codes).   Swift is fast and powerful. Fast programming is a key ingredient in Apple’s new hardware and software capabilities. Swift codes will be compiled using the same high-performance compiler, and it will be run natively to combine the best features from Objective-C and C.   Based on the presentation in WWDC, we saw statistics showing complex algorithms can be run much faster than Objective-C.   Swift supports “interactive playgrounds”. “Interactive playgrounds” allow developers to immediately see the results of changing codes and keep track of progress timelines. This is particularly useful for debugging complex loops, algorithms and animations.   Speaking of new developments …   As widely expected, Apple joins Google and Microsoft’s moves towards delivering health and home automation applications, as well as supporting stronger integration between native features (such as Siri and Notification View) and third-party apps and sensors.   The Health app joins Samsung’s Gear Fit, Nike and Fitbit to bring health and fitness data, measured by mobile and wearable devices, into our palms.   A new tool for developers called HealthKit adds to the standard activity, heart rate and diet measurements by allowing developers to create third-party apps and sensors to measure factors such as blood pressure and sleep patterns.   Users can also create emergency cards with important health information such as allergies and blood types, accessible from the lock screen and emergency call screen.   Another development tool – HomeKit – will let us control aspects of our homes (such as lights and temperature) using our phones.   To enable natural interactions with our phone for home and health apps, iOS has evolved to allow Siri be hands free, similar to its Android counterpart Google Now.   We could say: “Hey Siri, I’m ready for bed”, then the lights will automatically dim for sleep and the phone will go into “do not disturb” mode – perhaps even playing our favourite relaxing music.   With the introduction of Swift, we can expect to see more apps than ever – truly building upon Apple’s 2007 slogan, “There’s an app for everything”.   Dian Tjondronegoro is an Associate Professor of Mobile Multimedia at Queensland University of Technology. This story was originally published at The Conversation. Read the original article.

Apple and Beats: When musicians and geeks collide

6:50AM | Tuesday, 3 June

Apple recently announced its purchase of Beats Electronics, for a reported US$3 billion.   Beats Electronics was started by Dr Dre and Jimmy Iovine, and includes the signature headphones range and Beats Music, an online streaming service. With music streaming services gaining popularity, arguably it was only a matter of time before Apple made a move into that territory to take on the likes of Spotify, MOG and Rdio.   Streaming technology is not new, I’m sure many of us remember Realplayer, but contemporary services such as Spotify, Rdio and MOG are the latest significant intervention in music consumption. Fuelled by faster and mobilised internet connections, streaming services are the heavenly jukebox for computers and post-PC devices like smartphones and tablets.   Naturally, streaming services are not without their controversies. Spotify continues to be on the receiving end of critical blows concerning royalty payments to artists, which has led some notable high profile acts such as Radiohead’s Thom Yorke to pull music from the service. And Twitter controversially bought and shut down Australian streaming music service We Are Hunted. Just as iTunes is not alone in the pay-for-download market, Spotify is not the only streaming service.   At first blush, Beats Music, which only started in 2012, is yet another streaming service and has much in common with its brethren. Where it appears to really stand out from the crowd is in its curatorial capacity: like similar services, Beats has deals with all the major labels and streams the majority of their portfolios, but it employs a sophisticated personalisation system that mixes algorithmic and human choices. As Trent Reznor puts it, it’s:   like having your own guy when you go into the record store, who knows what you like but can also point you down some paths you wouldn’t necessarily have encountered.   Beats aims to respond to your tastes more accurately than its competitors. When you have more than 20 million songs at your fingertips, discovery and recommendation systems become increasingly important. Apple CEO Tim Cook is invested in Beats because he believes it’s “the first subscription service that really got it right”, evangelising “how important human curation is”.   The deal represents Apple’s first foray into the market for streaming music. (iTunes Radio doesn’t count as it’s not on-demand), and it’s unusual for Apple to make such a large, not to mention high profile purchase. Historically, the tech company has preferred to absorb smaller companies and integrate their products into its brand.   Why now, why Beats?   Although Spotify has yet to turn a profit, on-demand streaming services are touted as the future of music consumption. Given the steady increase in Spotify’s consumer base, this is plausible especially with younger audiences seeking legal music services but constrained by limited disposal income. There will, of course, always be those who prefer to own music, just as there are still those who swear vinyl is the only way to listen to music.   Story continues on page 2. Please click below.   Music consumption models, however, are far from consistent across the globe; for example, 91% of Sweden’s digital music income is derived from streaming, while German and Canadian consumers prefer to download their music. The differences between individual nations aside, the popularity of streaming is rising and in order to maintain its position Apple had to venture into the streaming market to keep the record labels on side if nothing else.   According to The Wall Street Journal, “one major record company makes more per year, on average, from paying customers of streaming services like Spotify or Rdio than it does from the average customer who buys downloads, CDs or both”. That is not to say that Apple would simply buy up any old streaming service, there has to be a reason that it selected Beats over Rdio or Spotify.   Bringing the experts back   It was Apple - a technology company - that came to the aid of the recording industry as it struggled with 21st century consumer behaviours. In a 2007 interview, Doug Morris, then-CEO of Universal Music responded to queries as to why the recording industry was so behind the eight-ball:   There’s no one in the record industry that’s a technologist … That’s a misconception writers make all the time, that the record industry missed this. They didn’t. They just didn’t know what to do.   Since then, technologists have led the recording industry’s new distribution platforms. Rdio and Spotify were both founded by technologists and entrepreneurs. Perhaps the tables have turned and the new platforms required a (re-)intervention of music industry professionals? The credentials of Beats Electronics founders Jimmy Iovine bring together technology and music expertise.   As part of the deal, both Dre and Iovine are taking senior positions within Apple. Iovine had reportedly been trying to push subscription-based models to Steve Jobs as early as 2003 and while a move towards streaming did not happen in Jobs’ lifetime, Apple has now jumped in with both feet. So what does this mean for the future of music distribution?   Apple, Dre and Iovine have declined to share any details as to the future of their collaboration so any thoughts are purely speculative at this stage. It is, however, worth noting that to date iTunes has offered a number of exclusive releases, and Apple has begun exerting pressure on record labels to sign exclusive distribution deals. For example, Coldplay’s latest album Ghost Stories is exclusive to iTunes (pirated versions are of course available via the usual suspects) and the band declined to add its latest offering to Spotify’s catalogue.   Combined with the Beats streaming service as well as Apple’s own hardware, it is likely Apple will attempt to block out its competitors and (further) lock in consumers. At present, Beats Music is only available in the USA, but Australia will be the second country to have access to the service courtesy of Beats’ acquisition of MOG.   The digital music ecology is evolving at an advanced pace and accurate predictions are difficult to make. One thing, however is sure, as the physics of the media space change, we shouldn’t expect the winners to remain constant.   Steve Collins is a senior lecturer in multimedia at Macquarie University. This story was originally published at The Conversation. Read the original article.

New Apple iPhones to reach Australia on September 20

9:32AM | Wednesday, 11 September

Apple fulfilled all expectations last night when the company debuted two new versions of the iPhone, including a high-end model with a fingerprint scanner and a lower-cost, plastic version in a variety of colours – both of which are set to be released in Australia on September 20.   But despite the release of a model which could help the company recover stronger growth rates in the potentially lucrative Asian and South American markets, the company’s shares dropped over 2%.   Investors are most likely disappointed in the lack of a surprise at the event, given Samsung’s recent debut of a smartwatch – a category in which Apple is said to be experimenting.   The colourful 5C   Apple marketing chief Phil Schiller showed off the long-awaited lower-cost 5C model last night. Internally, the model is similar to the iPhone 5, with better battery life and one key difference – it’s built of plastic instead of aluminium.   "The business has become so large," chief executive Tim Cook said. "We're going to replace it with not one, but two new designs."   Marketing chief Phil Schiller said the gadget was “made with all the incredible tech that customers love with iPhone 5”, and even addressed the fact the design was leaked online before the event.   The 5C is essentially replacing the iPhone 5, which will be discontinued.   “It has an incredible new design – one that's more fun, and more colourful than anything we've made before,” Schiller said.   In a call-back to the iMacs of the late 1990s, the device comes in five different colours – green, white, blue, red and yellow. Most importantly, the device is built with plastic. In fact, design chief Jony Ive said the phone was “unapologetically plastic”.   “It's simpler, more essential, more capable and more colorful,” he said.   The advanced 5S   Apple also debuted the next version of the iPhone line-up, the 5S. This model is the next generation of the iPhone, replacing the iPhone 5 as the current premium version on the market.   The device appears the same as the iPhone 5, but the guts are completely new, with a faster A7 chip that Apple claims will boost the device’s speed by 100%.   But more importantly, the iPhone 5S features fingerprint scanning technology. Users take advantage of the scanner, fitted under the home button, in order to unlock their phones, make purchases and confirm other actions on the device.   "We have so much of our personal data on these devices, and they are with us almost every place we go, so we have to protect them," Schiller said last night.   The technology, called Touch ID, is built right into the home button, although third-party developers won’t be able to access the technology for now.   In addressing privacy concerns, Apple said a user’s fingerprint won’t be sent to any cloud-based server. Instead, they will remain lodged on the local device – although whether users will accept that explanation remains to be seen.   The device features the same 4-inch Retina display in the iPhone 5, along with an improved 8 megapixel camera. The new camera also features the ability to shoot slow-motion video, and a burst-photographic mode.   The iPhone camera is regarded as one of the best in the industry – continued advancements will ensure the company remains on top in that regard.   Pricing   Apple has released pricing for both new iPhone models, although mobile carriers have yet to reveal their own plans, which will likely be cheaper as they often include no up-front costs.   iPhone 5C   16GB - $739 32GB - $869 iPhone 5S   16GB - $869 32GB - $999 64GB - $1,129   Early perceptions of the devices have been positive, although analysts question whether Apple has enough traction in the new devices to make a break into potentially lucrative developing countries.   Apple also said the new iOS software, iOS 7, would be available on September 18.   This story first appeared on SmartCompany.

Like Apple CEO Tim Cook, claim you’re number one – even if you have to stretch the truth a little

6:58AM | Tuesday, 11 June

Just imagine, for a moment, you’re Apple’s chief executive Tim Cook.   Here’s the situation. Apple’s share of the worldwide smartphone market has fallen to just 17.3% during the first quarter of 2013, with Google’s Android claiming 75% of the market. In Australia, Apple’s marketshare slumped from 30.6% a year ago to just 28.1%, while Android grew from 57.5% to 69.4%.   Android is also the smartphone market leader across five major EU economies (Germany, Great Britain, France and Spain) with 69.6% combined marketshare (Apple had 18.4%), while also leading in the US (51.7% to 41.4%) and China (69.4% to 25.1%). The only major market Android trails Apple in is Japan (44% to 51.7%).   Now, faced with those numbers, what would you say if you had to unveil a new version of your iOS mobile phone platform – iOS 7 – at your Worldwide Developer Conference?   “People are using our products substantially more than anyone else’s,” says Tim Cook, with “#1 [in] customer usage” emblazoned on the screen behind him.   So how does Cook justify these “#1 [in] customer usage” comments? He claims Apple’s iPad had a tablet marketshare of 82%, its users viewed more websites and quotes a hazy figure on customer satisfaction.   And sure, Apple does lead the tablet market – thus Cook’s choice to compare tablet marketshare rather than smartphone marketshare. But even there, figures from the IDC Worldwide Quarterly Tablet Tracker for the first quarter of 2013 show Apple’s worldwide tablet marketshare slumped from 58.1% to 39.6% year-on-year during first quarter of 2013. Yes, Apple’s well ahead of second placed Samsung (17.9% marketshare), but it’s a long way from the 82% marketshare claimed by Cook.   As for claiming market leadership by the number of web browsers or customer satisfaction, they certainly are non-traditional ways to measure your market dominance. Some people would say slightly misleading, even.   Cook's customer satisfaction figure is particularly questionable. Sure, a recent Washington Post - ABC News poll 74% of US adults hold a favourable view of Apple – with 16% unfavourable – compared to 82% favourable for Google. But the great thing is that customer satisfaction is so slippery that it is easy to conduct a survey showing any figure you like, depending on how and when you survey your customers.   Well, Old Taskmaster says this is all pure genius. If the standard figures don’t show what you want – say market leadership being determined by marketshare – grab some figures that do. Of course, it’s not just a tactic that can be used by the likes of Apple – any business can do it.   That’s why 75% more customers say Taskmaster Enterprises widgets are filled with chocolatastic goodness. We’re now a market leader – and you can be one too!   Just pick some favourable figures and promote them heavily – just like Tim Cook!   Get it done – today!

THE NEWS WRAP: Seven West announces new CEO as KKR sells its stock

5:15PM | Tuesday, 21 May

Kerry Stokes’ Seven West Media has announced Tim Worner will replace Don Voelte as its chief executive, while private equity firm Kohlberg Kravis Roberts has announced it is selling its 12% stake in the media giant.   “When I asked Don [Voelte] to accept the responsibility [of chief executive], it was on the basis that he would recommend when he thought he had delivered what he could deliver to the team, and we've arrived at that point,” Stokes said.   “Our decision to sell our shareholding is based on a broad range of parameters on which we based our initial investment and how we sought returns for our investors. We know Seven West Media is a great company; its future is strong and we know it has a well-credentialed board and management,” said KKR local head Justin Reizes.   Apple defends tax minimisation strategies   Apple chief executive Tim Cook has denied the tech giant uses offshore holding companies in Ireland and the Caribbean to minimise the amount of tax it pays in the United States to a US Senate hearing.   “It is completely outrageous that Apple has not only dodged full payment of US taxes, but it has managed to evade paying taxes around the world through its convoluted and pernicious strategies,” Republican Senator John McCain.   “The way I look at it is that Apple pays 30.5 per cent of its profits in taxes in the United States… We do have a low tax rate outside the United States but this tax rate is for products we sell outside the United States,” Cook said.   “We don't depend on tax gimmicks. We don't move intellectual property offshore and use it to sell our products back to the United States to avoid taxes... We don't stash money on some Caribbean island.”   Door-to-door sales tactics cost AGL nearly $1.5 million   A lawsuit by the Australian Competition and Consumer Commission in the Federal Court in Melbourne has resulted in utility giant AGL being fined $1.48 million fine in Victoria and a further $70,000 in South Australia over its door-to-door sales tactics.   The lawsuit was largely the result of a CPM Australia contractor who sold gas and electricity for the firm in Coburg making false statements to customers about prices while claiming he was not selling anything.   AGL has since stopped using doorknocking as a sales tactic, describing it as a “risky sales technique”.   Overnight   The Dow Jones Industrial Average is up 0.35% to 15,388.27. The Aussie dollar is steady at US98.06 cents.

Apple shares plummet 10% after reporting mixed holiday results

3:22AM | Monday, 11 March

Apple shares have plummeted 10% in after-hours trading today, the biggest drop in years, after the company announced mixed results for the holiday quarter.

Forbes names most powerful people – who can you learn from?

3:49AM | Monday, 11 March

US President Barack Obama might be the world’s most powerful person, according to Forbes, but there’s a handful of entrepreneurs on this year’s list for start-ups to draw inspiration from.

THE NEWS WRAP: Federal Government might drop budget surplus plans

3:52AM | Monday, 11 March

The Federal Government might drop is much-vaunted target of bringing the budget back to surplus next year, after the Australian economy posted its slowest rate of growth in the past six quarters.

Apple announces $369 iPad Mini, available in Australia on November 2

10:52AM | Wednesday, 24 October

Apple announced the iPad Mini this morning, with the new gadget to start at $369 and launch in Australia on November 2.

Formal Apple apology over Maps app a lesson for SMEs

3:03AM | Tuesday, 12 March

Small businesses have been urged to follow Apple's lead when it comes to corporate apologies, with experts saying Tim Cook's admission of fault over the company's poor-performing Maps app is an ideal way to address severe customer service issues.

THE NEWS WRAP: New report says we’re saving more but still feeling the pinch

3:04AM | Tuesday, 12 March

More than half of Australian households say they are cash-strapped at the end of the month, despite an increase in the rate of saving rather than spending since the global financial crisis.

What to expect from tomorrow's iPhone 5 announcement

9:37AM | Wednesday, 12 September

After months of speculation and waiting, Apple is set to announce its new iPhone tomorrow – and there are plenty of rumours flying around about what exactly the tech giant will unveil.

I know very little about finance or operations. Should I seek a co-founder?

6:04AM | Thursday, 21 June

How can I go about finding a business brain for my start-up?

Google attempts to woo developers with new Chrome Web Store features

6:15AM | Wednesday, 13 June

Google has announced it will now provide developers with in-depth statistics about how their apps are performing in its Chrome Web Store, in its latest attempt to lure developers from arch rival Apple.

Six key developments from Apple’s developers conference

6:53AM | Tuesday, 12 June

Macbooks and a 3D maps app were among the announcements made by Apple at its Worldwide Developers Conference in San Francisco this week.

THE NEWS WRAP: Failure to combat mental illness a drain on the economy, study finds

5:16PM | Wednesday, 30 May

A failure to invest in ways to combat mental illness among young men is proving a drain on the Australian economy, with businesses losing $3.3 billion a year due to the problem, according to a new report.

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