Apple to pay $38bn to bring back offshore cash

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The changes to the US tax code passed just before Christmas have had some interesting effects - Goldman Sachs blamed them in part for the first loss it has posted since 2011, and now Apple says it is going to pay around $38bn in tax to the US treasury to bring home overseas earnings. Apple will also open a second U.S. campus as part of a 5-year, $30bn investment in the country. Philip Elmer-DeWitt writes the Apple 3.0 blog in Greenfield, Massachussetts, and tells us why Apple chief executive Tim Cook is doing this. The major social media platforms are still allowing hate groups and extremists to use them to get their message across - that's the verdict of US senators who have been quizzing senior figures in Facebook, Twitter and Youtube during a session on Capitol Hill on Wednesday. Members of the Senate Commerce Committee told them current efforts involving algorithms and artificial intelligence were not enough to tackle the problem. Tara Maller, senior policy advisor for the Counter Extremism Project, a pressure group looking at ways to tackle the problem, tells us whether they have made enough progress. Presenter Roger Hearing is joined by Peter Morici, Professor of International Business at the University of Maryland - who's in Washington, and Sushma Ramachandran, former chief business correspondent for the Hindu, in Delhi. (Picture: The Apple Campus 2 is seen under construction in Cupertino, California in this aerial photo. Credit: Reuters.)