Apple is building a new $1 billion facility in Texas
In a statement released online, Apple Inc announced the construction of a new facility in Austin, Texas, located adjacent to the facility where they manufacture the new Macbook Pro laptops. Apple is spending 1 billion USD on this facility, which will span an are of 3 million square feet, with an initial capacity of 5000 employees with an additional 10,000 potential capacity, and will open in 2022.
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Apple lost $180 billion in market value in just one day
This year Apple became the first American company to reach a market cap of $2 trillion. Yesterday, Apple captured another record, this time for its falling share price which amounted to the biggest market cap drop for a U.S. listed company ever. The stock lost over $179.92 billion in market value. That drop is larger than the individual market caps of 470 of the S&P's 500 companies.
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FoxNews
Apple reports a 225% growth in iPhone sales in China
Apple became the fastest-growing smartphone maker in China in the second quarter. The cheaper iPhone SE and the popularity of the iPhone 11 series, along with deep discounts, helped Apple get a boost. The sell-through volume for iPhones in China was 7.4 million units in the April to June quarter, a 32% growth year-on-year, according to Counterpoint Research. On a quarter-on-quarter basis, iPhone sales jumped 225%
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CNBC
Walmart, CVS, Target and Apple to close some stores amid protests
U.S. retailers large and small have closed some of their stores across the country because of disruptions caused by the widespread street protests over the police killing of George Floyd in Minneapolis. Target, CVS, Apple and Walmart all said Sunday that they had temporarily closed some locations for safety reasons.
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Fox6now
SBA watchdog probes small business loans as scrutiny intensifies
In his letter, Ware said the SBA inspector general's office started reviews of the PPP and the Economic Injury Disaster Loan program on April 24. “The Criminal Division’s Fraud Section is working with our law enforcement partners, the Small Business Administration and banks processing loans under the Paycheck Protection Program to identify outliers in the data," DOJ spokesperson Peter Carr said.
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Politico