USA TODAY: Why Apple is bringing billions back home


Why Apple is bringing billions back home

How ’bout them Apples?A second corporate campus, an additional 20,000 workers and a $350 billion commitment. That’s Apple’s pledge to the U.S. as the tech giant announced a sweeping set of moves Wednesday to bring back billions of its offshore cash and spur economic growth. The plan also includes paying $38 billion in taxes from overseas profits after the company has faced major criticism for building many of its popular products in China. The announcement comes on the heels of the sweeping new tax overhaul law and as another tech empire, Amazon, searches for its second American HQ. So, what city will claim the new Apple campus? CEO Tim Cook and company aren’t saying yet, but some experts think “flyover” country could win big.

USA TODAY: Dow jumps 323 points, closes above 26,000 for the first time ever


Dow jumps 323 points, closes above 26,000 for the first time ever

The Dow closed above 26,000 for the first time Wednesday, continuing an early-year stock surge that has pushed the U.S. market to fresh records.At the closing bell, the Dow Jones industrial average was up 323 points, or 1.3%, to a record 26,115.65. It was the Dow’s best one-day point gain in 14 months, or since the day before Donald Trump was elected president.More: Why January matters to stock investors with 401(k) accountsMore: Bitcoin selloff deepens, digital currency now down 50% from recent peakMore: Financial Tips 2018: How to get ahead on taxes, savings and insuranceThe fresh milestone comes just 13 calendar days after the 30-stock index topped 25,000, marking the fastest 1,000-point climb in its history, according to S&P Dow Jones Indices.

USA TODAY: Apple to hire 20,000, open second headquarters


Apple to hire 20,000, open second headquarters

LOS ANGELES — Apple, which has come under major criticism for building much of its popular products in China, announced a sweeping set of moves partially tied to the recent tax bill, including paying $38 billion in taxes from profits made overseas and opening a second corporate campus. “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 Tim Cook, Apple’s CEO. At the same time, the company is realizing a savings of $42 billion from the new tax bill, notes analyst and investor Gene Munster, from Loup Ventures. Apple’s tax rate shifted from 35% to 15.5%, he adds.