Tech Giant Faces EU Tax Case While Expanding UK Operations
- Apple’s UK tax bill increases by 62% to £304m
- Operating profits reach £1.2bn for the first time
- Revenues grow 35% to £4.7bn
- Apple wins EU tax case, ordered to pay €13bn to Ireland
- Global quarterly sales top $95.4bn
- Siri upgrade delayed due to quality concerns
- Investments in AI continue despite setbacks
Apple’s corporation tax payment in the UK surged nearly 62% last year to £304m as its operating profits reached £1.2bn for the first time, according to accounts filed at Companies House. The company’s revenues increased by 35% to £4.7bn during the same period. This growth coincided with the launch of Apple’s iPhone 16 range and faced criticism over its slower progress on artificial intelligence. Despite a recent landmark EU tax case ordering Apple to pay €13bn in unpaid taxes related to profits from Irish subsidiaries, the company maintains it always pays all owed taxes. Apple’s global quarterly sales for the period ending March 29 surpassed $95.4bn, exceeding analyst expectations. CEO Tim Cook acknowledged risks in the complex supply chain and confirmed significant investments in AI, despite delays in rolling out features like an upgraded Siri. Craig Federighi, senior vice-president of software engineering, mentioned at the Apple Worldwide Developers Conference that the Siri upgrade needed more time to meet quality standards but looked forward to sharing updates soon. The company operates 40 stores across the UK and employs over 7,700 people in locations such as London, St Albans, Swindon, and Cambridge.
Factuality Level: 4
Factuality Justification: The article contains some irrelevant information such as the mention of iPhone 16 (which doesn’t exist) and incorrect dates like ‘September 28, 2024’, ‘March 29’, and ‘2025’. Additionally, it includes speculative statements about Apple’s future plans for Siri and a link to unrelated content.
Noise Level: 4
Noise Justification: The article provides relevant information about Apple’s financial performance and tax situation in the UK, but includes some irrelevant links and unrelated content such as mentioning a non-existent year (2025) and promoting Retail Gazette’s newsletter.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses Apple’s increased corporation tax payment and operating profits in the UK, as well as its global sales. However, it does not mention any specific financial markets or companies being impacted by these events.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text and it does not meet the criteria for an extreme event happening in the last 48 hours.
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