Sunday, 13 October, 2019

Apple to invest $350 billion, hire 20000 over next five years

Apple to invest $350 billion, hire 20000 over next five years Apple to invest $350 billion, hire 20000 over next five years
Russell Knight | 20 January, 2018, 16:05

Apple said the new investments, combined withits current pace of spending with domestic suppliers and manufacturers, estimated to be $55 billion in 2018, will result in a direct contribution of $350 billion to the US economy in the next five years. They also stopped applying the corporate rate to profits that companies make overseas, in exchange for a one-off tax payment.

It plans to spend more than $10bn on data centres over five years, as part of a $30bn capital spending plan for the US.

In addition to hiring and spending at existing campuses, the California-based company said it plans to build a new facility at a location that will be disclosed later this year. Compared to promises made by Boeing and Walmart, the company's "trickle-down" promises are nearly entirely content free, making virtually no commitment to new capital investment or job creation.

Now, Apple Inc. would like the American public to know that it has "a deep sense of responsibility to give back to our country" a small fraction of its multi-billion-dollar tax cut haul.

Quarterly Loser: Nokia Corporation (NOK) stock performed -16.98%
The technology company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. The firm had revenue of $5.54 billion for the quarter, compared to the consensus estimate of $5.64 billion.

United States government shutdown looms, lawmakers in hectic negotiations
The senator condemned Republican leaders in Congress, who he said left Democrats out of discussions on the spending legislation. House Speaker Paul Ryan immediately summoned reporters to try to pin the blame on top Senate Democrat Chuck Schumer of NY .

Gymnast Aly Raisman Confronts 'Pathetic' Larry Nassar in Court
Now is not the time for false reassurances. "Survivors are here, standing tall, and we are not going anywhere". Why has the United States Olympic Committee been silent? Nassar has pleaded guilty to abusing seven girls.

As the U.S. largest tax payer, Apple already has over 84,000 employees in the USA but said it is allocating $5bn to the Advanced Manufacturing fund, while it has also doing business with 9,000 American suppliers across all 50 states. It will announce the location later this year. About $10 billion will be pumped into its data centers in seven states. The new campus will house tech support staff. That fund will support innovation among American manufacturers and will help other manufacturers establish a presence in the States.

"Apple is already responsible for creating and supporting over two million jobs across the United States and expects to generate even more jobs as a result of the initiatives being announced today", the Cupertino firm said.

President Trump delivered a public speech in Pittsburgh today where he praised Apple for its plans to invest in the U.S. economy. "The company is also increasing funding for its ConnectED program, so students in historically underserved communities have a chance to learn app coding skills and enjoy other benefits of technology in the classroom".

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