Latest Current Affairs 04-05-2017 By Gnankutir
Apple has reported over $256 billion in cash and marketable securities. In the previous year, Apple’s earnings report for the January-March quarter was $233 billion. According to the rating agencies, the cash reserve possessed by the company is more than Google, Microsoft and Amazon’s total cash. Compared to Apple’s $256 billion, Microsoft has $126 billion, Alphabet has $92 billion, Amazon has $22 billion and Facebook’s quarter one earnings stood at $29.45 billion. The reported cash reserve is more than that of the big companies in the world like Verizon, Oracle, Walmart, and Visa among others.
Interestingly, Apple’s cash reserve is 70% more than that of India’s foreign exchange reserve. As on April 28, India’s Foreign Exchange Reserves is equivalent to $371.13 billion. In addition, according to Wall Street Journal, Apple has more cash than the foreign reserves of the United Kingdom and Canada combined. However, Apple has reported a huge debt of $88 billion. Experts predict that Apple might spend the cash to acquire entities like Tesla Motors, or Netflix or Walt Disney, and to other activities like paying off its debts, more R&D, advertising, constructing a plant in the US, compete with Amazon and Microsoft in cloud computing among others.
China plans to launch its own online encyclopaedia next year rivalling Wikipedia and Britain’s Encyclopaedia Britannica. The main objective of this project is to guide public thought. China fears that its citizens who use Wikipedia are being corrupted by foreign influences. The project will be executed under the guidance of the state-owned China Publishing Group. The project would be developed in such a way that it serves as a symbol of China’s cultural and technological development and promotes its soft power and international influence.
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