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The iPhone maker racked up another quarter of so-so growth – and astonishing cash flow. CEO Tim Cook has paid out more than $40 bln over 12 months but added nearly $20 bln to the kitty. The lower share count may fuel a stock run-up if Apple soon unveils another must-have device.

Goldman chums return John Thain to semi-importance

Merrill Lynch’s last boss has been doing penance running lending minnow CIT for four years. Now he’s spending $3.4 bln to buy OneWest, the remains of a bust bank revived by fellow Goldman alums. It’s a smart deal that restores Thain’s membership in the SIFI club, if only just.

Credit Suisse cost cuts mask uneven performance

The Swiss bank’s fixed income arm offset private bank weakness in the second quarter – the opposite of the first. Credit Suisse’s cost savings helped it shrug off a big U.S. fine, and exiting commodities makes sense. But at some point top-line strength needs to replace tinkering.

Listen to Murdoch's muzzled minorities

Most Fox believers are relegated to owning non-voting stock, the same second-tier paper on offer to Time Warner shareholders. While there’s broad investor overlap in the two companies, the record shows a clear distaste for the imperialistic ways of media mogul Rupert Murdoch.

Japan’s bond-hugging banks are pinning Abe down

Lenders’ $3 trln holdings of public debt are not falling fast enough. That could be problematic for the prime minister. Once monetary stimulus dries up, banks may rattle the financial system by turning panic sellers. Bank of Japan minutes show Shinzo Abe’s team knows the risks.

Tesco’s new chief should think the unthinkable

Hiring Unilever exec Dave Lewis to replace Phil Clarke as CEO shows necessary decisiveness. A profit alert highlights the urgency of the situation. The UK grocer needs radical reinvention. The structure could be simplified, and braver tactics in the UK price war may be required.

The perks and pitfalls of depending on Jack Ma

Alibaba’s founder, chairman and spiritual sultan will continue to exert near-total control of the Chinese e-commerce giant even after its massive IPO. For prospective shareholders, the question is whether Ma can be trusted to act in their interest. The answer is a qualified yes.