Category Archives: Tim Cook

Warren Buffett backs Apple after firm sells millions of shares in iPhone maker

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Berkshire Hathaway CEO stressed relationship at annual meeting attracting Apple CEO Tim Cook, Bill Gates and Bill Murray

The billionaire investment tycoon Warren Buffett has stressed his empire will remain a key investor in Apple after it sold billions of dollars’ worth of shares in the iPhone maker.

Thousands of shareholders in Berkshire Hathaway, Buffett’s sprawling conglomerate, have flocked to Omaha, Nebraska, for the firm’s annual meeting – dubbed Woodstock for Capitalists – this weekend.

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Apple’s Tim Cook to take 50% pay hit after shareholder feedback

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‘Target compensation’ for CEO down from $99.4m in 2022 to an expected $49m for current year

The Apple chief executive, Tim Cook, is expected to have his pay cut by almost 50% this year to about $49m (£40m) after the billionaire boss asked the company to “adjust his compensation” in the light of feedback from shareholders disappointed at the fall in the company’s share price.

Cook, 62, who became CEO after the death of the co-founder Steve Jobs in 2011, was paid $99.4m in 2022 and $98.8m in 2021. But the company said in a regulatory filing late on Thursday night that it had set a “target compensation” of $49m for 2023.

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Tim Cook reportedly signed five-year $275bn deal with Chinese officials

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The Information reports Apple CEO’s agreement will placate threats that would have hobbled its devices and services in the country

Tim Cook, the chief executive of Apple, signed an agreement with Chinese officials, estimated to be worth about $275bn, to placate threats that would have hobbled its devices and services in the country, The Information reported on Tuesday.

Apple did not immediately respond to a Reuters request for comment.

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CEOs told to ‘think before they tweet’ after Just Eat spat with Uber

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Boss’s Twitter rant against Uber Eats risks backfiring, as experts warn online outbursts can damage companies’ reputation

Chief executives are being warned to “think twice before they tweet” after the boss of takeaway company Just Eat Takeaway was told his Twitter spat with Uber threatened to undermine the firm’s reputation.

Jitse Groen this week became the latest in a growing list of chief executives to be rebuked by customers, investors and even regulators over ill-judged tweets.

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‘Too much power’: Congress grills top tech CEOs in combative antitrust hearing

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The US’s top tech bosses were told they have “too much power”, are censoring political speech, spreading fake news and “killing” the engines of the American economy, at a combative congressional hearing on Wednesday.

The historic hearing in Washington saw Jeff Bezos of Amazon, Tim Cook of Apple, Mark Zuckerberg of Facebook and Sundar Pichai of Google’s parent Alphabet appear before members of the House judiciary’s antitrust subcommittee and face intense questioning from lawmakers from both sides of the aisle.

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Apple sales beat expectations but Tim Cook sees uncertainty ahead

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Company reports $58.3bn in sales as CEO says China sales ‘headed in the right direction’ despite coronavirus

Apple reported sales and profits that beat Wall Street expectations on Thursday despite fallout from the coronavirus pandemic, with Tim Cook saying China sales were “headed in the right direction” as that country reopens.

But the CEO said it was impossible to forecast overall results for the current quarter because of uncertainty created by the virus.

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