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AP Business NewsBrief at 2:08 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. 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 report Monday attacking Apple's tax practices. Stock indexes head higher in afternoon tradingNEW YORK (AP) _ The stock market turned higher Tuesday as investors banked on continued policy support from the Federal Reserve. Two big retailers also topped Wall Street expectations for the most recent quarter. The Dow Jones industrial average rose 64 points to 15,399 shortly after 1 p.m. Eastern time, though trading volume was light. Microsoft reveals Xbox One entertainment consoleREDMOND, Wash. (AP) _ Microsoft thinks it has the one. The company says the Xbox One, its next-generation entertainment console, will go on sale later this year. 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. Best Buy reports 1Q loss on restructuring costsMINNEAPOLIS (AP) _ Best Buy Co. on Tuesday reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores. Its adjusted earnings beat Wall Street expectations, as cost cuts helped offset tough pricing competition during the quarter. But shares fell 5 percent in midday trading. Poll: Teens migrating to TwitterWASHINGTON (AP) _ Twitter is booming as a social media destination for teenagers who complain about too many adults and too much drama on Facebook, according to a new study published Tuesday about online behavior. It said teens are sharing more personal information about themselves even as they try to protect their online reputations. Teens told researchers there were too many adults on Facebook and too much sharing of teenage angst and inane details like what a friend ate for dinner. France: Drugmaker on trial, suspected in deathsNANTERRE, France (AP) _ The makers of a diabetes and weight loss drug suspected in the deaths of hundreds of people went on trial Tuesday, facing charges they misled the public about the product's safety. But after years of delays in one of France's biggest recent health scandals, the proceedings could still be pushed back further. Germany's SAP to recruit tech staff with autismBERLIN (AP) _ German software giant SAP AG said Tuesday it plans to recruit people with autism to take 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. But some people with mild autism can perform complex mathematical tasks much better than the average population. Housing recovery boosts Home Depot 1Q resultsNEW YORK (AP) _ Home Depot Inc.'s first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring. Its quarterly results topped Wall Street expectations, and the world's biggest home improvement chain boosted its full-year earnings and revenue forecasts Tuesday. Shares rose nearly 2 percent in midday trading. (c) 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |