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AP Business NewsBrief at 1:26 p.m. EDT(Associated Press Via Acquire Media NewsEdge) JPMorgan's Dimon survives shareholder referendumTAMPA, Fla. (AP) _ Shareholders at JPMorgan Chase voted to let Jamie Dimon, the chairman and CEO, keep both his jobs. At the bank's annual meeting, just 32 percent of shareholders voted for a non-binding measure that would have advised the bank to split the roles. That's less than the 40 percent vote that a similar proposal received last year. Indexes edge higher on Wall Street in midday tradeNEW YORK (AP) _ Stock indexes are edging higher in midday trading on Wall Street as investors look ahead to the Federal Reserve's next moves. The Dow Jones industrial average was up 32 points at 15,367 at noon Eastern Daylight Time Tuesday, a gain of 0.2 percent. Apple's Cook faces Senate questions on taxesWASHINGTON (AP) _ Apple's CEO is disputing assertions by a Senate panel that the company avoids billions of dollars in U.S. taxes by shifting profits to foreign affiliates. Tim Cook testified at a hearing Tuesday by the Senate Permanent Subcommittee on Investigations, which released a damning report Monday on Apple's tax practices. Lew: IRS actions "unacceptable and inexcusable"WASHINGTON (AP) _ Treasury Secretary Jacob Lew says the Internal Revenue Service's targeting of conservative political groups was "unacceptable and inexcusable" and he has directed the agency's acting director to hold people accountable. Lew told the Senate Banking Committee that he has also asked acting director Daniel Werfel to fix any flaws in management of the IRS to make sure there is no recurrence of the problems. Microsoft reveals Xbox One, next-generation gamingREDMOND, Wash. (AP) _ Microsoft thinks it has the one. The company revealed the Xbox One, its next-generation entertainment console, during a presentation Tuesday at its headquarters in Redmond, Wash. Former IRS chief: Can't say how targeting happenedWASHINGTON (AP) _ The man who led the Internal Revenue Service when it was giving extra scrutiny to tea party and other conservative groups seeking tax-exempt status told Congress on Tuesday that he knew little about what was happening while he was still commissioner. Douglas Shulman, who vacated his position last November when his five-year term expired, told the Senate Finance Committee he didn't learn all the facts until he read last week's report by a Treasury inspector general confirming the targeting strategy. ESPN cutting workforce, 'smartly managing costs'NEW YORK (AP) _ ESPN is cutting its workforce, the latest Disney division to reduce staff. "We are implementing changes across the company to enhance our continued growth while smartly managing costs," the sports media giant said in a statement Tuesday. "While difficult, we are confident that it will make us more competitive, innovative and productive." Does France have right plan to revive its economy PARIS (AP) _ The man charged with reviving France's shrinking economy and attracting businesses to invest there is gaining a reputation for doing the opposite. As the country's first-ever minister for industrial renewal, Arnaud Montebourg has told the world's largest steelmaker it is not welcome in France; exchanged angry letters with the head of an American tire company he was supposedly wooing; and scuttled Yahoo's offer to buy the majority of a video-sharing website. Poll: Teens migrating to TwitterWASHINGTON (AP) _ A new poll finds that teens are sharing more about themselves on social media. They're also moving increasingly to Twitter to avoid their parents and the "oversharing" that they see on Facebook. In the Pew Research Center poll, 94 percent of teens who are social media users have a profile on Facebook _ flat from the previous year. Twenty-six percent of teen social media users were on Twitter. That's more than double from the figure in 2011 of 12 percent. Germany's SAP to recruit tech staff with autismBERLIN (AP) _ German software giant SAP AG says it plans to recruit hundreds of staff with autism to make full use of their talents to process information. Autism is a developmental disorder characterized by difficulties in communicating, emotional detachment and rigid or repetitive behavior. (c) 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |