Apple Inc plans to create a $1 billion fund to invest in US companies that perform advanced manufacturing, Chief Executive Officer Tim Cook said on Wednesday, the iPhone-maker’s latest effort to show how it is creating US jobs. Apple came under fire from President Donald Trump during his campaign because it makes most of its products in China. Ninety-three percent of Apple’s $256.8 billion cash is held overseas. “To invest in the United States, we have to borrow. So I think the administration, you saw they’re really getting this and want to bring this (cash) back.

Source: Hindustan Times May 04, 2017 01:30 UTC