July 1, 2013 4:24 PM
Apple's stock perked up on news that the company has trademarked the term "iWatch" in Japan, reminding everyone that, at some point, Apple will finally come out with a new product, one that might get investors excited again. Despite generating pre-tax profits of 68 million pounds ($103.6 million) during its last fiscal year ended September 2012, Apple didn't pay a single dime in taxes to U.K. authorities, The Financial Times reported recently, citing corporate filings with the U.K. government. In the prior year, Apple paid 11.4 million pounds. A question hangs over Apple Inc.'s e-books trial: Why is Apple fighting the U.S. Department of Justice when the book publishers the agency also sued chose to settle? The answer lies in part in what?s at stake. Apple says it is fighting the high-profile case, now in the hands of a federal judge, on the principle it did nothing wrong.