Apple will make the most expensive acquisition in its history, after confirming a deal to buy Dr Dre's Beats Electronics for $3bn.

Apple — which has its European headquarters in Cork — is close to paying a record $3.2bn (€2.3bn) for Beats Electronics, which also has a Cork link.

Apple is orchestrating a $3.2bn acquisition of headphone make and music streaming distributor Beats Electronics, according to a report.

Taiwanese smartphone maker HTC has reported a worse-than-expected net profit in the fourth quarter, despite aggressive cost cutting and a one-time gain.

It’s long been a refuge for hippies, celebrities, and retiring Germans, but West Cork has now emerged as a tax haven for the world’s highest-paid musician.

Hip-hop superproducer Dr Dre has sold more than half of his audio company for $300m (€209.8m).