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Apple announces $350 bn investments in US, delights Trump (Lead)

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Washington, Jan 18 (IANS) In a New Year gift to President Donald Trump, Apple has committed to invest $350 billion in the US over the next five years that includes creating 20,000 new jobs and an anticipated repatriation tax payments of $38 billion as required by new laws.

“A payment of that size would likely be the largest of its kind ever made,” Apple said in a statement late on Wednesday, cheering Trump.

“I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA!” Trump tweeted.

The repatriation comes in response to changes to the tax law, approved at the end of 2017, which aim, among other measures, to persuade US companies to repatriate their capital by reducing tax burdens.

Under the new law, companies that make a one-time repatriation of cash will be taxed at a rate of 15.5 per cent on cash holdings and 8 per cent on non-liquid assets.

The Apple investments will concentrate in three areas where Apple has had the greatest impact on job creation: direct employment by Apple, spending and investment with Apple’s domestic suppliers and manufacturers, and fuelling the fast-growing app economy which Apple created with iPhone and the App Store.

“Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the US economy,” said CEO Tim Cook.

“We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness,” he added.

Apple is already responsible for creating and supporting over 2 million jobs across the US and expects to generate even more jobs as a result of the initiatives being announced on Thursday.

Apple already employs 84,000 people in all 50 US states.

Planned capital expenditures in the US, investments in American manufacturing over five years and a record tax payment upon repatriation of overseas profits will account for approximately $75 billion of Apple’s direct contribution.

“The company plans to establish an Apple campus in a new location, which will initially house technical support for customers. The location of this new facility will be announced later in the year,” Apple said.

Over $10 billion of Apple’s expanded capital expenditures will be investments in data centres across the US.

The iOS app economy has created more than 1.6 million jobs in the US and generated $5 billion in revenue for American app developers in 2017.

Last year, after Trump announced that Cook has promised to build three new manufacturing plants in the country, the tech giant revealed plans to build a $1.3 billion data centre in Waukee, Iowa.

“Our new data centre in Iowa will help serve millions of people across North America who use Siri, iMessage, Apple Music and other Apple services, all powered by renewable energy,” Cook said.

In an interview with the Wall Street Journal in July, Trump said he had a phone conversation with Cook. “He’s promised me three big plants – big, big, big,” Trump said, referring to Cook.

“I said you know, Tim, unless you start building your plants in this country, I won’t consider my administration an economic success. He called me, and he said they are going forward,” Trump was quoted as saying.

Trump has reiterated several times that he would bring jobs back to the US.

–IANS
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Business

Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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