Apple will contribute over $350 billion into US economy over the next five years

Earlier this year Apple announced that it will be contributing $350 billion into the US economy over the next five years. 

The investments will concentrate on three areas: direct employment by Apple, spending and investment with Apple’s domestic suppliers and manufacturers, and the digital App Store economy.

Ony $75 billion of that total number will come from capital expenditures, new investments in manufacturing, and its repatriation tax payment. The rest of the number is due to normal growth and spending.

Apple CEO Tim Cook commented in the announcement that “We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness. We have a deep sense of responsibility to give back to our country and the people who help make our success possible.”

Appy Pie opens London headquarters

California-based Appy Pie, a leading free cloud based App Builder has opened its headquarters in London with plans to grow demand of mobile apps in Europe. Appy Pie's App Builder gives users the ability to design a professional-looking app without writing any code. By selecting a theme from Appy Pie’s gallery, dragging and dropping desired elements such as text, images, and videos into a template, users are then able to publish their newly created app to Google Play & iTunes App Store. In relation to the new headquarters, Appy Pie founder, Abhinav Girdhar says “"We're excited about continuing growing our global presence by establishing roots in London, one of the most important digital hubs of the world … We see enormous potential here."


France seeks international tech intelligence

Photo Credit:  Pierre Metivier

Photo Credit: Pierre Metivier

In its second season, the startup competition founded by the French government, French Tech Ticket is inviting international startups in the areas of Big Data, loT, Fintech and Cleantech to enter, offering huge incentives. Amid Frances’ booming innovation ecosystem, the government is offering €45,000 in funding, 12 months in one of 41 incubators, master classes, networking events, mentoring sessions, access to new markets, and a fast pass to obtaining a French resident permit, to all winning teams. The first season of French Tech Ticket saw 23 startup teams from 23 countries awarded in Paris, and the second season is expected to host 70 winning teams in over 40 high-calibre incubators throughout France in January 2017. France is currently the second largest venture capitalist ecosystem in Europe as American tech giants such as Google, Intel, Cisco and Facebook increasingly choose the country to develop their future technologies.


Obama and Zuckerberg speak at entrepreneurship conference

Photo Credit:  Nicole Bridge

Photo Credit: Nicole Bridge

At the 2016 Global Entrepreneurship Summit at Stanford University last Friday, a panel headed by U.S. president, Barack Obama and Facebook founder, Mark Zuckerberg discussed startups and Brexit. After breaking the ice with the audience by commenting on Zuckerberg’s wardrobe choices, President Obama made a firm statement that the UK’s vote to leave the European Union “speaks to the ongoing changes and challenges related to globalisation.” but “You (startups) represent all of the upside of an interconnected world.” The prestigious panel encouraged the audience to build causes, rather than just profit-seek companies. Even Zuckerberg mentioned that the initial intention of Facebook was to connect as many people as possible. Accompanied by other young startup founders including Mai Medhat from Egypt, Jean Bosco from Rwanda, and Mariana Costa Checa from Lima, President Obama and Zuckerberg suggested that if countries can engender their own technology boom, it could help crises such as global development, the Islamic State, immigration and the Brexit vote.


Cambridge startup, Simprints to launch mobile biometrics in Nepal

Photo Credit:  Eric Montfort

Photo Credit: Eric Montfort

A new book, titled ‘The Cambridge Phenomenon: Global Impact’ by Charles Cotton and Kate Kirk, identifies an emerging high value technology sector called ‘Internet-of-People’. Cotton and Kirk declare Simprints as part of this new phenomenon and Cambridge’s thriving entrepreneurial ecosystem. A non-profit tech company building low-cost, rugged fingerprint scanners for frontline workers, Simprints will be launching its mobile biometric scanners in Nepal next month as part of a digital healthcare program by 'Possible'.

Simprints’ technology creates a unique digital identity based on a fingerprint, which allows health workers in remote areas to access health records via an app on an Android mobile device. As part of the program, 45 workers from the NGO ‘BRAC’ will bring scanners to homes in Dhaka, Bangladesh, reaching 55,000 mothers and children.


German 10-Year Bond Yield Turns Negative

The 10-year German government bond yield has entered into negative territory, for the first time ever. The long-term benchmark bond recorded a yield of minus 0.01% on Tuesday, as more investors are investing in safe-haven assets out of concern the UK might vote to leave the EU in the referendum on 23 June. During turbulent times, German bonds are usually considered a safe investment, due to very low risk of default. However, other forces than the British referendum are also behind the negative bond yields; low inflation, low economic growth and low interest rates have for many years contributed to declining German bond yields.



Microsoft buys LinkedIn for $26.2 billion

The latest major acquisition in the corporate world is Microsoft’s acquisition of LinkedIn. Paying $196 per share and an all-cash transaction valued at $26.2 billion, the world’s leading professional cloud and network will come together to offer businesses, entrepreneurs, workers and job seekers even greater opportunities. As Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft, is has been assured that the professional networking platform will retain its brand, culture and independence. With over 433 million members worldwide and 7 million active job listings, LinkedIn has become one of the world’s largest online platforms for connecting professionals and building an online portfolio. Microsoft plans to work together with the LinkedIn team to continue the company's accelerated growth, as they “seek to empower every person and organisation on the planet,” says Nadella.


Australian named EY World Entrepreneur of the Year 2016

Manny Stul, Chairman and Co-CEO of Australian toy company, Moose Enterprises, has been awarded the prestigious EY World Entrepreneur of the Year 2016 at a ceremony in Monaco last week. Out of 55 country finalists from 50 countries around the world, Manny was chosen because of his impressive growth, humbleness and determination when faced with reputational and financial challenges, and the companies sustained global success.

The child of Polish refugee parents, Manny worked in construction before founding his first company, Skansen Giftware, now one of the biggest giftware companies in Australia. Manny took over Moose in 2000 when the boutique toy company only had 10 employees. In 16 years, Manny increased Moose sales by 7,200% and built a global business that is the fourth largest toy company in Australia, and sixth largest in the US. Through the Moose Foundation, Manny also funds philanthropic initiatives that positively make a difference to the lives and wellbeing of less fortunate children.

In response to the award, Manny Stul says, “I’m honoured and delighted to receive this prestigious award for Moose, our employees and for Australia. I was up against an amazing group of entrepreneurs and have been inspired by their stories. We are a company that succeeds by focusing on innovation with integrity and a clear purpose to make children happy. This has allowed us to grow exponentially, while overcoming huge challenges.”


Eurozone Announces New Greek Debt Deal

The Eurozone has agreed to release €10.3 billion in new funds for Greece in a breakthrough deal stemming from Greek economic reforms. In addition, Eurozone finance ministers agreed on debt relief for Greece in 2018, which in turn sparked the IMF to consider joining the Eurozone in funding the Greek bailout. Although the deal does not reduce the amount Greece will have to repay, the debt relief buys them time and the new loans cover debt repayments that are due in July. Greek finance minister Euclid Tsakalotos said he is optimistic about the deal and hopes it will mark the turning point for the country.