Carl Icahn renews Apple share buyback calls

<p>Carl Icahn wants Apple to pursue a share buyback.</p>

Billionaire investor Carl Icahn has stepped up his calls for Apple to launch a share buyback.

The entrepreneur wants the firm to embark on a $150 billion (£92.5 billion) share buyback. Mr Icahn has a big stake in Apple.

Apple previously said it will return $100 billion to shareholders by the end of 2015, but Mr Icahn is pushing for the company to go further.

Earlier in the year, he tweeted about a meeting with Apple chief executive Tim Cook in which he claimed they had discussed a share buyback plan.

Last night, Mr Icahn again took to Twitter to say: "Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks."

Apple's shares rose 2.4 per cent on Tuesday (October 1st) on the back of his comments.

The company has had a hugely successful last few weeks after the launch of its latest smartphones, the iPhone 5S and the iPhone 5C.

In the first three days since the devices went on sale around the world, Apple revealed that almost ten million phones had been sold.

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