Apple manufacturer Foxconn said to be under tax audit, NY Times reports

Foreign and local companies in China are increasingly the targets of tax audits and other regulatory reviews, as local governments try to steady their finances by collecting more revenue, The New York Times’ Keith Bradsher reports. The latest company to come under scrutiny is Foxconn (HNHPF) of Taiwan. Chinese state media outlets reported on Sunday that the company was facing investigations in four provinces. Foxconn, one of the world’s largest manufacturers of electronics, is Apple’s (AAPL) main contractor for the production of everything from iPhones to MacBook laptop computers, the author notes.