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apple pledges $350 billion investment in us economy over next five years


apple is about to give the u.s. economy a huge boost in the form of a $350 billion five-year investment. as part of that, it will commit $55 billion this year alone and plans on adding 20,000 new jobs over that time frame. following in the footsteps of amazon, it also plans to add a new campus somewhere in the u.s. this year.there is a lot of news here. let’s start with the big-picture investment of $350 billion, which apple says does not include ongoing tax payments, the tax revenues generated from employees’ wages or the sale of apple products.it will, however, involve taxes on repatriation of some of apple’s cash reserves, which are currently in the $256 billion range. it anticipates $38 billion coming from repatriation taxes, but much of it will be capital expenditures on the part of t






apple plans $1 billion expansion at data center in nevada


reno, nev. — apple announced plans wednesday for a $1 billion expansion of its massive data center east of reno, doubling its investment and roughly tripling its workforce at the technology campus where company officials expect to hire 100 additional workers.the announcement came as the reno city council approved apple's plans to build a $4 million shipping and receiving warehouse on a vacant lot in downtown reno that will make it eligible for millions of dollars in tax breaks."we're excited to be increasing our contributions to the local economy with an additional $1 billion investment to expand our data center and supporting facilities," apple spokesman john rosenstock said in an email to the associated press. "as part of our growth, we plan to hire 100 employees and expect construction






apple plans $1 billion expansion at data center in nevada


reno, nev. (ap) — apple announced plans wednesday for a $1 billion expansion of its massive data center east of reno, doubling its investment and roughly tripling its workforce at the technology campus where company officials expect to hire 100 additional workers.the announcement came as the reno city council approved apple’s plans to build a $4 million shipping and receiving warehouse on a vacant lot in downtown reno that will make it eligible for millions of dollars in tax breaks.“we’re excited to be increasing our contributions to the local economy with an additional $1 billion investment to expand our data center and supporting facilities,” apple spokesman john rosenstock said in an email to the associated press. “as part of our growth, we plan to hire 100 employees and expect construc






apple steps up its effort to emphasize its economic impact


san francisco (ap) — apple is getting more aggressive about emphasizing its role in the u.s. economy, apparently hoping to counter recurring criticism over its reliance on overseas factories.on wednesday, apple for the first time released a state-by-state breakdown of where its 80,000 u.s. employees work, showing that more than half of them are located outside silicon valley. it also announced a $1 billion fund aimed at creating more u.s. manufacturing jobs, although it provided few details.the strategy appears aimed at complicating efforts by president donald trump and other politicians to vilify apple for using companies in china and elsewhere to assemble most of its products. apple had no comment on political ramifications of its announcements.ceo tim cook first described the manufactur






apple steps up its effort to emphasize its economic impact


san francisco — apple is getting more aggressive about emphasizing its role in the u.s. economy, apparently hoping to counter recurring criticism over its reliance on overseas factories.on wednesday, apple for the first time released a state-by-state breakdown of where its 80,000 u.s. employees work, showing that more than half of them are located outside silicon valley. it also announced a $1 billion fund aimed at creating more u.s. manufacturing jobs, although it provided few details.the strategy appears aimed at complicating efforts by president donald trump and other politicians to vilify apple for using companies in china and elsewhere to assemble most of its products. apple had no comment on political ramifications of its announcements.ceo tim cook first described the manufacturing f






apple announces $1b reno datacentre expansion


apple has announced that it will be building out a $1 billion datacentre expansion in reno, nevada, which will provide an additional 100 jobs within the datacentre once complete, as well as 300 temporary construction-based jobs.apple had first flagged significant expansion plans for its reno datacentre back in 2014, at the time applying for permits to build additional wings of the original $1 billion datacentre it built in 2012.cloud tv cloud migration: dipping in a toe before diving all in the colorado center for personalized medicine rebuilt its data warehouse on the google cloud platform, taking advantage of pay-as-you-go pricing to make sure it was the right move."we're excited to be increasing our contributions to the local economy with an additional $1 billion investment to expand ou






qatar to invest 5 billion pounds in britain over 3-5 years


dubai, united arab emirates — the energy-rich nation of qatar says it plans to invest 5 billion pounds in the british economy within the next half decade.prime minister abdullah bin nasser al thani announced the $6.3 billion investment at an investment forum in london. he said the outlay would come over the next three to five years through investment funds and other "relevant parties" in the gulf arab country, a major exporter of natural gas.the 2022 world cup host nation has already invested heavily in britain. its holdings include a stake in british bank barclays and several prominent london properties, including the iconic harrods department store.the opec member announced plans to invest $35 billion over five years in the united states in 2015.






apple is accelerating u.s. investments and job creation


apple announced on wednesday that the company plans to contribute more than $350 billion to the u.s. economy over the next five years by creating more jobs and investing more domestically, building upon what it calls its “commitment to support the american economy and its workforce.”the promise to “invest in advanced manufacturing in the united states” comes less than a year after apple promised to dedicate resources to american job creation with a $1 billion fund to expand its domestic manufacturing footprint, interpreted by many as a response to president donald trump’s call for u.s. companies to hire more american workers and bring back jobs from overseas.at the time of the may 2017 announcement, apple ceo tim cook told cnbc that “those manufacturing jobs create more jobs around them be






sequoia is looking to raise a $5 billion investment fund


sequoia capital is looking to raise a $5 billion investment fund.the legendary silicon valley venture firm, known for its stellar investment returns, is in the early stages of raising its next global growth fund.recode’s kara swisher first reported the news of the fund. she’s hearing that sequoia is targeting $5 to $6 billion. we’re hearing that right now it’s looking more like $5 billion. the fundraising is expected to get underway in the first quarter of 2018.this compares to its last growth fund from 2015, which was $2 billion in size. some of its late-stage portfolio companies include airbnb, stripe and 23andme. sequoia also has a significant early-stage investment business.we recently reported that sequoia is looking to buy uber shares in its ongoing tender offer. these are the discou






apple to build 2nd campus, hire 20,000 in $350b pledge


apple is planning to build another corporate campus and hire 20,000 workers during the next five years as part of a $350 billion commitment to the u.s. economy.the pledge announced wednesday is an offshoot from the sweeping overhaul of the u.s. tax code championed by president donald trump and approved by congress last month.besides dramatically lowering the standard corporate tax rate, the reforms offer a one-time break on cash being held overseas.apple plans to take advantage of that provision to bring back more than $250 billion in offshore cash, generating a tax bill of roughly $38 billion.the cupertino, california, company says it will announce the location of a second campus devoted to customer support later this year.






apple plans $1 billion advanced manufacturing fund


apple inc. plans to create a $1 billion fund to invest in u.s. companies that do advanced manufacturing, chief executive tim cook said on wednesday.mr. cook, during an appearance on cnbc, said the new fund will support u.s. manufacturing and its first investment will be announced in may. he didn’t provide any details on the fund’s targets.apple faced criticism during the presidential campaign from then-candidate donald...






spain pm pledges $4.57 billion investment in catalonia


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apple makes $1b commitment toward more us manufacturing jobs


san francisco — apple will invest $1 billion to help create more u.s. manufacturing jobs and to counter recurring criticism about its reliance on overseas factories to assemble most of its iphones and other devices.apple ceo tim cook announced the fund during a wednesday interview on cnbc's "mad money." cook didn't provide additional details, such as how the company will direct that money.he did say the fund will make its first investment by the end of this month. apple's contribution amounts to a tiny fraction of its $257 billion in cash.although apple designs its products in the u.s., most of them are built in factories run by contractors in china and other countries. that practice has been a sore point for president donald trump and some members of u.s. congress.






apple plans to invest $500 million for new research centers in china


apple is trying to tap into local talent by building new research centers around the world. as spotted by macrumors, the company just announced on its chinese website that it is going to build two new r&d centers in shanghai and suzhou.this is going to be a significant investment as apple plans to spend 3.5 billion yuan, or a little bit more than $500 million. the company already announced research centers in beijing and shenzhen, so there will be four centers in china in total. apple also has teams in france, israel, the u.k., japan and sweden.apple said that some of those engineers will work on supply chain improvements. most of apple’s products are manufactured in china. and some of the best electronics engineers in the world who can help you ship tens of millions of devices a year also






didi chuxing is reportedly considering a $6 billion investment backed by softban


didi chuxing, the largest ride sharing app in china, is deliberating a proposed $6 billion investment backed by softbank group, according to a report in bloomberg.bloomberg says that if completed, “the funding would be the single largest for a chinese technology startup on record.” but the potential round’s massive size means it could dilute other existing shareholders. as a result, didi chuxing backers apple and tencent are thinking of joining the investment on a pro rata basis in order to avoid diluting their stakes.softbank is already an investor in didi chuxing, one of an international roster of ride sharing companies, including ola and grab, it began backing in 2014.it’s not clear if the $6 billion round would come from softbank group or its $100 billion softbank vision fund, which is






pence urges indonesia to open economy more as u.s. scrutinizes trade


jakarta, indonesia—u.s. vice president mike pence urged indonesia to open up its $900 billion economy more to u.s. businesses, pointing to $10 billion in recent deals as a sign of the potential.“the truth is, i say respectfully, there’s much more that must be done to improve the business and investment climate in indonesia,” mr. pence told businesspeople friday, at the end of a two-day visit before leaving for australia. his trip...






apple's services are like an annuity that keeps on giving


top of the order:  services, services: let’s talk about annuities, for a minute. no, i’m not here to sell you anything, so stay with me.as you may know, annuities are pretty cool things to have. an investment that kicks out a payment on a pre-set schedule? in effect, all you have to do is wait at home for the check to arrive in the mail. what’s not to like?in business, if a company can set up something that’s like an annuity, where for example, the company gets regular payments on a regular basis from its customers, that’s just easy money. and for apple, the annuity-like characteristics of its services business are expected to provide billions of such payouts and allay some of the concerns about the company’s revenue and earnings growth prospects.in a new report, credit suisse analyst kulb






apple pledges new centers in china as cook set to address major government confe


apple inc. launched a new round in its charm offensive in china, announcing two additional research-and-development centers ahead of speeches chief executive tim cook is scheduled to give at a major chinese government conference.the new centers, to be set up in shanghai and suzhou, bring apple’s total commitment to r&d facilities in china to more than 3.5 billion yuan, or about $500 million, the company said friday in an...






let's talk about trump's tax plan | trump


what is at least as significant as trump's tax plan itself (pdf) are the reactions to it. there's some good news. here is some reality-based analysis. normally, anybody on the right, and especially in right-wing think tanks, are in favour of any tax cut. that's what right-wing think tanks exist for. yet, in regards to bringing back overseas money at a super low tax rate, the heritage foundation, has said in 2011 that such a move, "like its predecessor, have a minuscule effect on domestic investment and thus have a minuscule effect on the us economy and job creation".{articleguid}the last, and only, such tax reparation even demanded specific pledges about using the money for real domestic investment that would create jobs. forbes (who used to cheerfully call itself a "capitalist tool"), wro






let's talk about trump's tax plan | trump


what is at least as significant as trump's tax plan itself (pdf) are the reactions to it. there's some good news. here is some reality-based analysis. normally, anybody on the right, and especially in right-wing think tanks, is in favour of any tax cut. that's what right-wing think tanks exist for. yet, with regards to bringing back overseas money at a super low tax rate, the heritage foundation has said in 2011 that such a move, "would, like its predecessor, have a minuscule effect on domestic investment and thus have a minuscule effect on the us economy and job creation".{articleguid}the last, and only, such tax reparation even demanded specific pledges about using the money for real domestic investment that would create jobs. forbes (who used to cheerfully call itself a "capitalist tool






warren buffett says it doesn't feel like a 3% economy


warren buffett isn't convinced economy can sustain a 3% pace and says he's bullish on bank of america and wells fargo and is fan of apple investment.        






gorilla glass maker corning receives $200 million from apple


corning employees in harrodsburg, kentucky. image via apple.apple announced friday that glass supplier corning will receive $200 million as part of the cupertino tech giant's $1 billion advanced manufacturing fund. cloud tv cloud migration: dipping in a toe before diving all in the colorado center for personalized medicine rebuilt its data warehouse on the google cloud platform, taking advantage of pay-as-you-go pricing to make sure it was the right move.the fund was announced earlier this month as a way to support "a new era of technology-driven manufacturing in the us," and corning is the first beneficiary. apple said the investment will go toward corning's research and development, equipment needs and state-of-the-art glass processing.apple's decision to choose corning as a grant recipi






gorilla glass maker corning receives $200 million from apple


corning employees in harrodsburg, kentucky. image via apple.apple announced friday that glass supplier corning will receive $200 million as part of the cupertino tech giant's $1 billion advanced manufacturing fund. cloud tv cloud migration: dipping in a toe before diving all in the colorado center for personalized medicine rebuilt its data warehouse on the google cloud platform, taking advantage of pay-as-you-go pricing to make sure it was the right move.the fund was announced earlier this month as a way to support "a new era of technology-driven manufacturing in the us," and corning is the first beneficiary. apple said the investment will go toward corning's research and development, equipment needs and state-of-the-art glass processing.apple's decision to choose corning as a grant recipi






more taxation threatens to dampen state’s robust economy


gov. jay inslee is proposing $5.5 billion in new taxes, including imposing a state tax on capital gains, an increase in the b&o tax and a carbon tax on using energy. none of this is necessary.our state has a tax system that favors growth, investment and opportunity. we have no income tax on personal income, employee stock ownership or capital gains. compared to other states, our smarter approach favors forward-looking innovation and investment that creates more job opportunities for people in our state. it also enables personal-income growth that encourages consumer consumption and fuels sales-tax revenue increases to fund state services, local governments and schools. for example, recent tax-revenue growth funded increases in k-12 educations spending of almost 33 percent from approximatel






apple invests $200 million in corning to innovate on gorilla glass


apple wasted no time putting its $1 billion u.s. manufacturing fund to work, announcing friday that it will invest $200 million into corning’s harrodsburg, kentucky glass-making plant.corning, as everyone knows, manufactures the glass that apple has used in iphones and ipads since day one.“corning is a great example of a supplier that has continued to innovate and they are one of apple’s long-standing suppliers,” apple coo jeff williams said in a friday statement announcing the investment. “this partnership started 10 years ago with the very first iphone, and today every customer that buys an iphone or ipad anywhere in the world touches glass that was developed in america. we’re extremely proud of our collaboration over the years and we are investing further with corning who has such a ric






imf says it has agreed terms for $5 bn loan to mongolia


beijing — the international monetary fund said sunday that it and other partners have agreed on terms for a more than $5 billion loan to the mongolian government to help get the north asian country's economy back on track.the deal is subject to approval by the imf's executive board, which is expected to consider mongolia's request in march.according to the terms agreed by the mongolian government and imf envoys, the imf would provide $440 million over three years. the asian development bank, world bank, japan and south korea are expected to provide up to $3 billion, and the people's bank of china is expected to extend its $2 billion swap line with the bank of mongolia for at least another three years, the imf statement said.mongolia's debt-laden economy has been hit hard by a sharp decline






gorilla glass maker corning receives $200 million from apple


apple announced friday that glass supplier corning will receive $200 million as part of the cupertino tech giant's $1 billion advanced manufacturing fund. cloud tv cloud migration: dipping in a toe before diving all in the colorado center for personalized medicine rebuilt its data warehouse on the google cloud platform, taking advantage of pay-as-you-go pricing to make sure it was the right move.the fund was announced earlier this month as a way to support "a new era of technology-driven manufacturing in the us," and corning is the first beneficiary. apple said the investment will go toward corning's research and development, equipment needs, and state-of-the-art glass processing.apple's decision to choose corning as a grant recipient is unsurprising. corning is a long-time apple partner a






softbank drops $100 million investment in iphone rival


softbank group corp. scrapped a planned $100 million investment in a smartphone startup founded by the creator of google’s android software, partly because of the japanese investor’s increasingly close relationship with apple inc., according to people familiar with the matter.the planned investment would have valued the startup, essential products inc., at $1 billion, these people say, a lofty amount for a company that has yet to...






apple agrees to deal with ireland over $15 billion unpaid tax issue


brussels—ireland will begin collecting €13 billion ($15.46 billion) in back taxes from apple inc. as soon as early next year after both sides agreed to the terms of an escrow fund for the money, ireland’s finance chief said monday.the european union in 2016 ordered dublin to retrieve the billions of euros from apple in uncollected taxes, which the eu said apple avoided paying with the help of sweetheart tax deals from ireland. a...






market cap touches $800 billion


cupertino –no publicly traded company on earth is more valuable than apple.and on monday, the biggest of the big became bigger than ever before. the cupertino company spent the day breaking its own market-capitalization record — at one point reaching a valuation of $800.8 billion, when its shares hit an intraday high of $153.70.just to put apple’s record-high market cap into some perspective, $800.8 billion is: what it would cost to purchase 1.04 billion iphone 7 plus phones, at the device’s $769 starting price.enough to pay golden state warriors’ star stephen curry the reported $12.11 million salary he will make this season. … and for the next 66,127 seasons.almost $32 billion more than the estimated $769 billion gross domestic product of the netherlands.apple gave back some gains later i






apple plows $390m into finisar facial recognition, 500+ jobs


sherman, texas (ap) — apple is investing $390 million in finisar, a company that makes lasers used in facial recognition technology.it’s the latest investment from apple’s $1 billion advanced manufacturing fund, created to finance the work of domestic manufacturers and create jobs in the u.s.apple said wednesday that the investment will allow finisar to boost production of vertical-cavity surface-emitting lasers, which apple uses for face id, animoji and portrait mode selfies with the iphone x truedepth camera and the proximity-sensing capabilities of airpods.finisar will open a manufacturing plant in sherman, texas, about an hour north of dallas, creating more than 500 jobs. finisar runs a plant in allen, just outside of dallas.most read storiesunlimited digital access. $1 for 4 weeks.sha






market cap touches $800 billion


cupertino –no publicly traded company on earth is more valuable than apple.and on monday, the biggest of the big became bigger than ever before. the cupertino company spent the day breaking its own market-capitalization record — at one point reaching a valuation of $800.8 billion, when its shares hit an intraday high of $153.70.just to put apple’s record-high market cap into some perspective, $800.8 billion is: what it would cost to purchase 1.04 billion iphone 7 plus phones, at the device’s $769 starting price.enough to pay golden state warriors’ star steph curry the reported $12.11 million salary he will make this season…and for the next 66,127 seasons.almost $32 billion more than the estimated $769 billion gross domestic product of the netherlands.apple gave back some gains later in the






apple pours cash into finisar, which makes facial recognition tech


apple inc. has made its second notable investment this week — this time in facial recognition technology company finisar corp.the $390-million investment announced wednesday comes from apple's $1-billion advanced manufacturing fund, created to finance the work of domestic manufacturers and create jobs in the u.s.apple announced the creation of the fund in may and plowed $200 million into corning inc., the maker of the gorilla glass, which is used in apple's touchscreens.the finisar investment will help the company boost production of vertical-cavity surface-emitting lasers, which apple uses for face id, animoji and portrait mode selfies with the iphone x truedepth camera and the proximity-sensing capabilities of airpods.finisar — which is based in sunnyvale, calif. — will open a manufactur






taiwan’s foxconn eyes seven states for $10 billion investment


taipei—taiwan’s foxconn technology group, which assembles apple inc.’s iphones in china, is looking at seven states in the american heartland where it would invest $10 billion or more to manufacture flat-panel screens and related equipment.“over the years, manufacturing of consumer goods has shifted out of the u.s.,” terry gou, the chairman of the company formally known as hon hai precision industry co., told reporters after the...






apple pours cash into finisar, which makes facial recognition tech


apple inc. has made its second notable investment this week — this time in facial recognition technology company finisar corp.the $390-million investment announced wednesday comes from apple's $1-billion advanced manufacturing fund, created to finance the work of domestic manufacturers and create jobs in the u.s.apple announced the creation of the fund in may and plowed $200 million into corning inc., the maker of the gorilla glass, which is used in apple's touchscreens.the finisar investment will help the company boost production of vertical-cavity surface-emitting lasers, which apple uses for face id, animoji and portrait mode selfies with the iphone x truedepth camera and the proximity-sensing capabilities of airpods.finisar — which is based in sunnyvale, calif. — will open a manufactur






apple to open new campus in april


apple inc. said wednesday it will open its new campus in april and spend six months moving employees into a glass-encased building reminiscent of a spaceship.the 175-acre campus, which will be called apple park, was one of apple co-founder steve jobs’s final projects. apple hasn’t disclosed the cost of the new campus but reports have put it in the range of $3 billion to $5 billion.the centerpiece of the project is a...






apple scores on strong iphone, mac and services gains


cupertino — apple needed a win, and it got one tuesday with its fiscal first-quarter earnings results.led by improvements in sales of iphones, mac computers and services, apple said that for the three months ending in december, it earned $3.36 a share on revenue of $78.4 billion. during the year-ago period, apple had earned $3.28 a share on $75.9 billion in sales.the results topped the estimates of analysts surveyed by thomson reuters, who had forecast apple to earn $3.22 a share on $77.4 billion in revenue. apple, itself, had earlier said it expected sales for the quarter to be between $76 billion and $78 billion.in a statement, apple chief executive tim cook said that apple “broke multiple records” during the quarter, including setting company bests for sales from iphones, macs and servi