Apple Inc.’s real tax bill isn’t as big as the one it reports to its investors. Among the findings of an investigation by the Senate’s Permanent Subcommittee on Investigations are figures that show Apple’s reported taxes substantially exceed the sum it actually pays the U.S. Treasury. One factor: Apple uses...
Andreessen Horowitz is announcing this afternoon that Adrian Fenty, the 41-year-old political star best for his turn as the Mayor of Washington, D.C. from 2007 to 2011, will be joining the venture capital firm in the role of “special advisor.” This is the second person join Andreessen Horowitz as a...
Google chairman is confused. Corporations like Google and Apple that keep foreign income overseas to avoid high U.S. taxes are much in the news lately as Apple has been called into to testify before Congress on the $100 billion it has banked in Ireland. Google, which employees similar strategies but...
Google chairman is confused. Corporations like Google and Apple that keep foreign income overseas to avoid high U.S. taxes are...
The United States has already hit its debt ceiling--the legal limit of the amount of money it is allowed to borrow, as established by Congress. Right now, the U.S. Treasury is resorting to "extraordinary measures" to keep paying the country's bills. Sometime between February 15th and March 1st, the Bipartisan...
The United States has already hit its debt ceiling--the legal limit of the amount of money it is allowed to...
“Although we have long made limited customer-relationship data available to our journalists, we realize this was a mistake.” That’s what Bloomberg CEO Dan Doctoroff told employees in a company-wide e-mail following a complaint from Goldman Sachs that accused Bloomberg News journalists of using private subscriber information pulled from company data...
Ahead of the summit meeting between the leaders of the U.S. and China, former U.S. Treasury Secretary Henry Paulson said cyber security is the biggest source of friction in the relationship between the countries, and a threat to the global economic system. The issue will likely be near the top...
Today, Larry Summers became the latest prominent name to endorse Lending Club — the fast-growing peer-to-peer lending company that aims to connect creditworthy borrowers with smart investors — as the former U.S. Treasury Secretary joined the company’s growing, star-studded board of directors. The economist, also known for serving as the...
Editor’s note: Paul Pfleiderer is the C.O.G. Miller Distinguished Professor of Finance at the Stanford Graduate School of Business and co-founder of Quantal International. A few weeks ago, TechCrunch published a piece arguing software is better at investing than 99% of human investment advisors. That post, titled Thankfully, Software Is...
If the U.S. Federal Communications Commission limits the participation of the largest mobile carriers in upcoming spectrum auctions, it could cost the U.S. treasury billions of dollars, according to a study released Tuesday.The U.S. Department of Justice's Antitrust Division and some digital rights groups have called on the FCC...
MyMoneyAppUp, a mobile app idea contest launched by the U.S. Treasury Department back in June, has just announced it’s judges, featuring professionals from Google, Facebook and Harvard. The contest calls for ideas and designs of apps that could “help Americans control and shape their financial futures.” More specifically, here’s the...
Talk about a backfire. Controversial Facebook co-founder Eduardo Saverin, who recently renounced his U.S. citizenship and came under fire for supposedly skipping out on U.S. taxes, might actually end up owing more money — an estimated $43 million. Back in September 2011, Saverin decided to renounce his U.S. citizenship for permanent residence in Singapore,...
Talk about a backfire. Controversial Facebook co-founder Eduardo Saverin, who recently renounced his U.S. citizenship and came under fire for supposedly...
Lending Club, the peer-to-peer loan site backed by Kleiner Perkins' Mary Meeker, has picked up an unusual investor: Google. Google led a new $125 million investment in Lending Club, the company announced, and nabbed a 7 percent stake, reports the New York Times' Michael De La Merced. With this investment,...
If you had any doubts that 2010 is the year of 3D, this may put them to rest. The U.S. Treasury unveiled the new $100 bill today, which incorporates a “3D Security Ribbon” to combat piracy.The security strip’s series of digits and bell images jump to 3D life when...
The Federal Communications Commission has settled with Comcast over charges that the cable company made it hard for consumers to find stand-alone broadband packages that doesn’t cost an arm and leg. As part of the settlement Comcast paid the U.S. Treasury $800,000 and the FCC extended the length of time...
Miguel Helft and Jessi Hempel's exclusive look into the inner workings of the social network is full of new revelations. FORTUNE -- In eight years, the social network Mark Zuckerberg began coding in his Harvard dorm room has become a cyber institution with some 843 million users. Now, as Facebook readies...
When some people talk about ‘FOSS’, they’re not always referring to free, open-source software. According to a Fortune article entitled ‘Inside Facebook’, which will become available for reading in full over the next few days, FOSS is also used by former employees to describe people with power at Facebook who...
In apparent observation of international trade sanctions against Syria, a U.S. firm that ranks as the world’s fourth-largest domain name registrar has seized hundreds of domains belonging to various Syrian entities, including a prominent Syrian hacker group and sites associated with the regime of Syrian President Bashar al-Assad. The Syrian...
Verizon customers will soon have the option of downloading Android apps that let them turn their phone into a mobile hotspot –apps that Verizon blocked initially because it didn’t want customers circumventing its $20 a month mobile hot spot fee. The FCC has determined that nation’s largest wireless carrier was...
Andrew Aurernheimer, commonly known as AT&T Hacker Weev, has just received sentencing on one charge of conspiracy to access a computer without authorization (18 U.S.C. § 1030(a)(2)(C) part of the Computer Fraud and Abuse Act of 1986) and fraud in connection with personal information (18 U.S.C. § 1028(a)(7)). He will...
"There is a technical term economists like to use for behavior like this. Unbelievable chutzpah." - Edward Kleinbard, a law professor at USC speaking to NYT about Apple's overseas tax situation -- or lack thereof. One potentially good thing out of all this, Tim Cook will address it directly tomorrow...
The Electronic Frontier Foundation has resumed accepting bitcoins donations, saying some of the legal ambiguity around the virtual currency has disappeared.The influential digital watchdog stopped accepting bitcoins two years ago citing a raft of complex legal questions that could have inadvertently thrust the nonprofit as a defender rather than...
Peer-to-peer lending platform Lending Club is announcing a huge new investor today: Google. Google and existing investor Foundation Capital have put $125 million in Lending Club, which was valued at $1.55 billion in the round. As part of this investment Google will take an observer seat on the Lending Club...
AT&T has agreed to pay a $700,000 fine to the U.S. Treasury for unfairly forcing pay-as-you-go wireless data customers into monthly data plans. The wireless provider has also agreed to refund the customers who were affected, and to return them to their grandfathered-in pay-as-you-go plans (if they're still eligible)....
"A lot of the noise in the market right now is about bringing back irresponsible IPOs. That is a short-lived strategy, and a wrong-headed strategy." This from Kate Mitchell, the former chair of the National Venture Capital Association, and current Managing Director of Scale Venture Partners. "Our objective is to...
Like many entrepreneurs, Nicole Kendrot turned a problem into a business opportunity. In her case, the problem was student loans--not just the amount of debt, but managing the payments. Her solution: to design a mobile app to track multiple loans and gamify the payback process so users can earn cash...