“Apple confirmed on Tuesday that it is investing $1 billion in a massive new technology fund from Japan’s SoftBank Group, which has recently drawn the attention of the president-elect,” Seth Fiegerman reports for CNN. “‘We’ve worked closely with SoftBank for many years and we believe their new fund will speed the development of technologies which may be strategically important to Apple,’ Josh Rosenstock, a spokesman for Apple, said in a statement provided to CNNMoney.”
“Softbank first announced plans in October to launch a $100 billion fund dedicated to “investments in the technology sector globally.” Softbank committed $25 billion to the fund and Saudi Arabia’s sovereign wealth fund invested $45 billion,” Fiegerman reports. “The fund gained greater attention, however, when SoftBank’s billionaire founder Masayoshi Son visited Trump Tower and pledged to invest $50 billion in the U.S. with the goal of creating 50,000 new jobs.”
“The SoftBank founder framed the large U.S. investment as being spurred by optimism about the impact of Trump’s promises to ease regulations on businesses. But it could also help him curry favor with a new administration if he needs help with regulatory issues, including a merger between SoftBank’s Sprint and T-Mobile,” Fiegerman reports. “Apple declined to comment on whether its investment would specifically go toward Masayoshi’s pledge to create U.S. jobs — a move that could potentially ease Trump’s tensions with Apple over outsourcing manufacturing work to China.”
Read more in the full article here.
“Apple’s participation in the fund reflects a shift in its investment strategy. Last year, Apple invested $1 billion in Didi Chuxing Technology Co., China’s homegrown ride-sharing competitor to Uber Technologies Inc.,” Tripp Mickle reports for The Wall Street Journal. “Apple and SoftBank have business ties stretching back nearly a decade. In 2008, the companies struck a deal to make SoftBank the exclusive iPhone seller in Japan. The partnership drove record sales, helping make SoftBank Japan’s third-largest cellular carrier by 2011.”
“Mr. Son is close to Terry Gou, the head of Taiwan’s Foxconn Technology Group, which manufactures most iPhones. During a December meeting with President-elect Donald Trump, Mr. Son was photographed carrying a paper with Foxconn’s logo,” Mickle reports. “Foxconn said after the meeting that it was in talks to expand its operations in the U.S.”
“Apple has more than $237.6 billion in cash on hand, according to its annual report,” Mickle reports. “More than 90% of that money, $216 billion, is held abroad because Apple would have to pay additional tax to bring it to the U.S.”
MacDailyNews Take: Not for long.
Read more in the full article here.
MacDailyNews Take: The ties between Apple and SoftBank grow even closer.
SEE ALSO:
Apple in talks to invest $1 billion in SoftBank tech fund – December 13, 2016
Softbank to invest $50 billion in the U.S., create 50,000 new tech jobs after meeting with President-elect Trump – and Apple supplier Foxconn is in on the deal – December 6, 2016
President-elect Trump invites tech leaders to roundtable in Manhattan next week – December 6, 2016
President-elect Trump meets with Apple board member Al Gore at Trump Tower in Manhattan – December 5, 2016
President-elect Trump tells Apple CEO Tim Cook that he’d like to see Apple make products in the U.S. – November 23, 2016
President-elect Trump says Apple CEO Tim Cook called him after election victory – November 22, 2016
Apple could make iPhones in the U.S.A. under President Trump, sources say – November 17, 2016
Japan’s Softbank just became one of Apple’s most important suppliers – July 18, 2016
“In the beginning of a change the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.”
– Mark Twain
“If it takes bribery to get into the good graces of an executive, then that executive is a scoundrel.”
— Mike
Cook put the “Tim” in timid.
GFY botvinnik.
-YOU GOT THAT RIGHT!
“President Obama Awards Himself Distinguished Public Service Medal”
lol, the Ego In Chief strikes again….un-effin’-real.
Steve Jerk (First This) and Botty have nothing better to do than post propaganda on a Mac website.
I’ll be here every time you, and your fascist GOP goons post, you commie traitor. Way to sell out the American people.
Why are you even here? You hate Tim Cook and Apple, so move on back to FuxNews with the other knuckle draggers.
I wonder… Which of you sucks on Putin’s nipples first?
YGTR it seems you’re another brainwashed Libtard
The feeding frenzy is on! Just like how the Bank of England and the US banks and industries started supporting the rearmament of Germany in the 1930s, every large corporation is eying the newest despot on the block an are not stopping him.
It wasn’t just Bank of England and US Banks and industry.
Remember that Senator Prescott Bush (Poppy’s dad) was on the board of Nazi-controlled banks, and didn’t resign those posts even after it was illegal during World War II.
What is today “Libtard post day”??
one billion is a penny to Apple, unless you call it a Tax, then it’s 200 billion.
The nice think in a democracy is that the rule of law allows you to do business without having to be in the President’s good graces. That is how Apple was able to do business for 40 years without interference from anyone. It is only in banana republics and dictatorships where you have to be very careful about what you do and what you say. America is on the wrong path.
The United States is not a democracy, it is a constitutional republic, as any student of seventh grade Civics knows.
“Democracy is two wolves and a lamb voting on what is for dinner.”
– B. Franklin
Whatever the classification of the dining establishment, the lamb chop of Liberty is on the plate, and a wolf in sheep’s clothing is carving.
The wolf is being banished January 20th.