What's Next for Australia's PM Albanese After a Historic Re-Election
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Engadget
an hour ago
- Engadget
Apple to invest another $100 billion into the US to avoid tariffs
Apple plans to invest an additional $100 billion in the US, the company announced on Wednesday. The investment follows President Donald's Trump's previously announced plans to raise tariffs on India by an additional 25 percent (bringing the total tariff to 50 percent) for purchasing oil from Russia. Apple relies heavily on manufacturers in India to create the iPhone, so adding to its already $500 billion investment in the US is likely a way to avoid being impacted by the tariffs. "Today, we're proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program," Apple CEO Tim Cook shared in a statement. "This includes new and expanded work with 10 companies across America. They produce components that are used in Apple products sold all over the world, and we're grateful to the President for his support." In a statement to Bloomberg before the announcement, a White House spokesperson suggested the new investment would "help reshore the production of critical components to protect America's economic and national security." The Trump administration has previously called for Apple to make the iPhone in the US, something CNN reports is difficult to downright impossible. In February, Apple said it's original $500 billion investment plan would go towards building Apple Intelligence servers in the US, and that the majority of the new jobs the funding would provide would be focused on R&D, silicon engineering, software development and AI and machine learning. As part of this additional investment, Apple says it's deepening relationships with components makers in the US, like Corning, Coherent and Amkor. Apple's current strategy for dealing with Trump is similar to how it handed the President during his first term. In 2019, Apple CEO Time Cook and Trump "opened" a Mac Pro factory in Texas. The factory had been up-and-running since 2013, but the President was pleased by the optics of making a deal. Apple is a trillion-dollar company that can afford to spend a few billion avoiding tariffs, but it also likely planned to increase investment in the US anyway to keep up with competitors like Google and Microsoft. Its entirely possible the company is just packaging its spending in a way that flatters the President's ego. Developing...
Business Wire
an hour ago
- Business Wire
Pan American Silver Appoints Pablo Marcet to its Board of Directors
VANCOUVER, British Columbia--(BUSINESS WIRE)-- Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) (" Pan American") Pan American is pleased to announce the appointment of Mr. Pablo Marcet to its Board of Directors effective immediately. Mr. Marcet is a distinguished mining professional with over 35 years of international experience in the exploration, development, and operation of mineral assets across the Americas and in Africa. He has held senior leadership roles spanning geology, environmental stewardship, mine operations, stakeholder engagement, government relations, mergers and acquisitions, and enterprise risk management. "I am delighted to welcome Mr. Marcet to Pan American's Board,' said Gillian Winckler, Chair of the Pan American Board. "His extensive leadership and operational experience, much of it gained in Latin America, will be a valuable addition to our Board. Pablo's appointment aligns with our ongoing Board renewal strategy and reflects our commitment to strong governance and operational excellence as we pursue disciplined growth." Mr. Marcet currently serves as Executive Director of Piche Resources, an Australian exploration and development company, and as founder and President of Geo Logic, a mining consultancy firm. He previously held senior leadership roles at Orosur Mining, Waymar Resources, Northern Orion Resources, and at BHP for 15 years, all of which were focused in Latin America. He has previously served as a director on the Boards of several other publicly listed companies, including Barrick Mining Corporation and Arcadium Lithium PLC. Mr. Marcet holds an MBA from the University of Phoenix, a Master's degree in Economic Geology from Harvard University and a Bachelor of Science degree in Geology from the University of the Pacific in California. 'As an Argentine national having spent much of my career in Latin America, I am especially proud to join Pan American, whose deep regional roots, operational footprint and commitment to responsible mining are well aligned with my professional background and values," said Mr. Marcet. "I look forward to working with the Board to further the company's strong performance and long-term value creation." About Pan American Pan American is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for over three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "PAAS".
Bloomberg
an hour ago
- Bloomberg
Apple Surge Boots S&P 500, Nasdaq
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Vonnie Quinn, Carol Massar and Matt Miller. (Source: Bloomberg)
