5 Companies That Dropped The Ball This Week

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Apple's Tax Problem

Apple came under fire this week when the U.S. Senate Permanent Subcommittee on Investigations claimed the company uses "a complex web of offshore entities" -- including foreign subsidiaries in Ireland -- to avoid paying billions of dollars in taxes.

While a subcommittee report said Apple's practices are legal, senators took Apple to task for exploiting tax loopholes. Apple CEO Tim Cook, who is more used to receiving applause as he introduces new whiz-bang products, was grilled Tuesday by senators about Apple's tax practices.


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