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Business Day

Tuesday, May 21, 2013 Last Update: 4:10 PM ET

Rather than taking unfair advantage of what Congressional investigators say are a host of tax code loopholes, Timothy D. Cook said his company was actually a victim of an outdated tax system.

Timothy D. Cook, the chief executive of Apple,  defended the company's record before a Senate panel on Tuesday.
J. Scott Applewhite/Associated Press

Timothy D. Cook, the chief executive of Apple,  defended the company's record before a Senate panel on Tuesday.

DealBook

Dimon Prevails in Key JPMorgan Vote, Retaining 2 Top Jobs

Jamie Dimon held onto his title of chairman after JPMorgan’s shareholders defeated a proposal to split the chairman and chief executive roles.

DealBook

Court Hears Appeal of Ex-Director of Goldman

A lawyer argued that Rajat Gupta, found guilty of leaking boardroom discussions, should be granted a new trial because a judge erroneously admitted wiretapped conversations.

DealBook

SAC Capital Aims to Stem Withdrawal Requests

SAC Capital Advisors is bracing for another round of withdrawal requests as fears grow that insider trading investigations could further damage Steven A. Cohen and his firm.

A Flashy Bet for Yahoo on a Shift in Social Media

New services are moving beyond the Facebook approach, with tools to create new content instead of just sharing it.

DealBook

Sprint Raises Offer for Clearwire Stake

Sprint Nextel raised its offer on Tuesday for the nearly 50 percent stake in Clearwire that it does not already own, just hours before shareholders were scheduled to vote on its earlier offer.

For the Word on the Street, Courts Call Up an Online Witness

Courts are looking to Urban Dictionary, a crowdsourced Web site, as one way to define words on which a case may turn.

Insight & Analysis

DealBook Column

But Wait. Didn’t Yahoo Try a Deal Like This Before?

Yahoo’s deal for Tumblr raises questions about its ability to make money by selling ads, among other thorny issues.

Today's Economist

The Bush Tax-Cut Failure

No hard evidence has ever emerged that the Bush tax cuts stimulated the economy.

Bucks Blog

Tips on Avoiding Phishing Frauds

A consumer group has prepared an “anti-phishing” tip sheet.

Bucks Blog

A $2,400 Fine for an Airbnb Host

A New York man who rented his room in a two-bedroom apartment on Airbnb must pay a $2,400 fine for violating the city’s administrative code, a judge has ruled.

Itineraries

A Boutique Airline Hopes to Join the Jet Age

Porter Airlines’s plan to expand Toronto’s downtown airport, in part by filling in a bit of Lake Ontario, is raising tensions.

On the Road

Business Trip Becomes an Obstacle Course, and an Object Lesson

Carol Margolis considers herself an experienced traveler, but even she was not prepared for what happened on a recent trip from Norway to Colorado.

Frequent Flier

The Passengers Aren’t Smoking. It’s a Camp Stove.

Hans Hess is the founder and chief executive of Elevation Burger, an organic hamburger chain. He is flying a lot to establish franchises around the world.

From Sunday Business

Sony’s Unwanted Genre: Suspense

Awash in hits, but not in profits, a proud Hollywood studio has suddenly found itself in the cross hairs of an activist investor who wants to spin it off from Sony.

The Giant of Shareholders, Quietly Stirring

BlackRock, the world’s largest asset manager, is far from being an activist investor, but it is starting to ask more questions about companies in which it has stakes.

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