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Top 4 Business Stories of the Day

Apple Inc has approved another $30 billion in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock's appeal to individual investors. On Wednesday, Apple reported a 4.6 percent rise in March-quarter revenue to $45.6 billion, beating Wall Street's projections after selling a sharply higher than expected 43.72 million iPhones. Tesla is creating the kind of buzz and excitement this week that only names like Apple and smartphone sensation Xiaomi have typically been able to muster. In the last 2 days, the company and its charismatic founder Elon Musk were all over the Chinese headlines, as Tesla delivered its first electric vehicles in China on the sidelines of the nation’s biggest annual auto show this week in Beijing. Musk seems to have done interviews with nearly all of the major publications, leading one to wonder if the man ever sleeps. Summit Ascent Holdings, a Hong Kong-listed company led by billionaire Lawrence Ho, has obtained majority control in of a casino project in the eastern Russian city of Vladivostok. Summit Ascent will pay $20.2 million for an additional 14% stake in the project held by Oleg Drozdov, a businessman who has been detained in a probe unrelated to the casino. The purchase will increase Summit’s stake to 60%. Toyota kept its position as the world's best-selling car maker in the first quarter of 2014, beating rivals Volkswagen AG and General Motors Co after it sold record 2.58 million vehicles globally. The Japanese auto maker and its group companies saw worldwide sales in January-March rise 6.3 percent from a year ago, buoyed by strong demand in Japan as well as recovering sales in China and Europe.

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