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By Patrick Temple-West and Kevin Drawbaugh WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more. The Senate Permanent Subcommittee on Investigations has found that Apple in 2012 alone avoided paying $9 billion in U.S. taxes, using a strategy involving three offshore units with no discernible tax home, or "residence. ...
By Kareem Raheem BAGHDAD, Iraq (Reuters) - A series of bomb and gun attacks across Iraq killed more than 40 people on Tuesday, a day after over 70 died in violence targeting majority Shi'ites that has stoked fears of all-out sectarian war with minority Sunnis. Nearly 300 people have been killed in the past week as sectarian tensions, fuelled by the civil war in neighboring Syria, threaten to plunge Iraq back into communal bloodletting. Ten years after the U.S. ...
By Paul Carrel and Jonathan Spicer FRANKFURT/NEW YORK (Reuters) - Two senior Federal Reserve officials on Tuesday played down chances that the U.S. central bank would signal a readiness to taper bond buying at its meeting next month, dampening speculation the Fed might soon dial back its ultra-easy policy. New York Federal Reserve Bank President William Dudley and St. Louis Fed chief James Bullard, both of whom will vote at the June 18-19 meeting, made clear further economic progress was needed before they would support curtailing bond purchases. "Inflation is pretty low in the U.S. ...