President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Apple buys a company every two to three weeks on average, CEO Tim Cook told CNBC.
In roughly the last six months alone, Cook said, Apple has bought approximately 20 to 25 companies. Apple often doesn't announce these deals because the companies are small and Apple is "primarily looking for talent and intellectual property," Cook told CNBC's Becky Quick in an interview from Berkshire Hathaway's annual shareholder meeting over the weekend.
The aggressive acquisition style highlights Apple's massive purchasing power. In its fiscal second-quarter earnings statement, Apple reported a $225.4 billion cash hoard, making it one of the most cash-rich companies in the world. Apple has pledged to contribute $350 billion to the U.S. over five years through expansion and taxes on repatriated cash.
Cook said that after investing in initiatives like its new $1 billion campus in Austin, Texas, the company turns its attention and spending to other goals.
"If we have money left over, we look to see what else we [can] do," Cook said. "We acquire everything that we need that can fit and has a strategic purpose to it. And so we acquire a company on average, every two to three weeks."
This strategy shines through in some of Apple's more high-profile acquisitions. Its 2018 acquisition of digital magazine subscription service Texture, for example, was a prelude to its new Apple News+ service that offers access to a variety of publications for a flat fee.
Even though Apple acquires several companies a year, it's famous for not making major acquisitions. Its largest in recent memory was its $3 billion purchase of Beats in 2014. Apple turned Beats into its Apple Music streaming service and continues to sell Beats headphones as part of its growing wearables category.
Apple has also reportedly mulled other major acquisitions, including Time Warner in 2016, according to a Wall Street Journal report at the time. Some have called on Apple to use its cash pile to make large acquisitions of companies like Tesla or Netlfix.