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Apple cheers Trump with $500bn US investment plan; more losses on Wall Street – as it happened

Apple has announced a massive $500bn (£400bn) investment plan across the US over the next four years.The tech giant is planning to hire around 20,000 people, of which the vast majority will be focused on R&D, silicon engineering, software development, and AI and machine learning.Apple says it will expand its facilities, and hire more staff, in Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina, and Washington.The plan includes building a new factory in Texas, doubling the size of its US Advanced Manufacturing Fund, opening a manufacturing academy in Detroit, and accelerating its investments in AI and silicon engineering.The move follows pressure from Donald Trump for US companies to invest more in their US facilities, and the threat of tariffs on imports from overseas

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Starbucks to lay off 1,100 corporate workers in CEO’s restructuring plan

Starbucks plans to lay off 1,100 corporate employees and close several hundred open of vacant job positions, the company announced on Monday. The layoffs are the largest in the company’s history.“Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,” CEO Brian Niccol wrote in a letter to staff.The company has around 16,000 corporate employees globally, including 10,000 in the US. Warehouse, roasting and store employees are not included in the cuts

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Apple announces $500bn in US investments over next four years

Apple announced Monday it would invest $500bn in the US in the next four years that would include a giant factory in Texas for artificial intelligence servers and add about 20,000 research and development jobs across the country.The move comes on the heels of reports that the Apple CEO, Tim Cook, met Donald Trump last week. Many of Apple’s products that are assembled in China and imported to the US could face 10% tariffs introduced by the White House earlier this month, though the iPhone maker secured some waivers from China tariffs during the first Trump administration.It is not the first time the iPhone-maker has made a splashy announcement about a multibillion-dollar investment in the US economy during a Trump administration. In 2018, during the first Trump administration, Apple said its new and ongoing investments would contribute $350bn to the US economy over five years

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UK delays plans to regulate AI as ministers seek to align with Trump administration

Ministers have delayed plans to regulate artificial intelligence as the UK government seeks to align itself with Donald Trump’s administration on the technology, the Guardian has learned. A long-awaited AI bill, which ministers had originally intended to publish before Christmas, is not expected to appear in parliament before the summer, according to three Labour sources briefed on the plans. Ministers had intended to publish a short bill within months of entering office that would have required companies to hand over large AI models such as ChatGPT for testing by the UK’s AI Security Institute.The bill was intended to be the government’s answer to concerns that AI models could become so advanced that they pose a risk to humanity, and were different from separate proposals to clarify how AI companies can use copyrighted material. Trump’s election has led to a rethink, however

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Ben Stokes to skip the Hundred in order to focus on England’s Ashes tour

Ben Stokes and Moeen Ali have both withdrawn from this year’s Hundred. England’s Test captain has chosen to focus on his fitness and his duties with the red ball, and Moeen has decided to retire from county cricket so he can grasp the opportunities offered by global franchise leagues.The competition has brought only bad luck to Stokes, who in five appearances has scored only 14 runs at an average of 3.50 and sustained one serious hamstring injury, while playing for Northern Superchargers last August. That pulled muscle kept him out of all cricket for two months and, after a recurrence while playing for England in New Zealand late last year, he required surgery from which he is recovering

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Joe Root backs ‘brilliant leader’ Jos Buttler as England face crucial game

Joe Root has stressed Jos Buttler’s white-ball setup is in better shape than the Test side that buckled towards the back end of his own captaincy, as England attempt to keep their Champions Trophy hopes alive in their controversial match against Afghanistan on Wednesday.Battling to reach the semi-finals after the record-breaking five-wicket defeat against Australia over the weekend, England have endured a further blow with news that the fast bowler Brydon Carse has been ruled out of the tournament with the recurrence of a toe injury.Victory against Afghanistan on Wednesday in their day-nighter – a match that has been the subject of calls for a boycott by England over women’s rights in the country – is now non-negotiable as regards staying in the hunt for a semi-final spot; perhaps similarly for a captain who has overseen eight defeats from nine white-ball international games this year.“I certainly think that this team are doing more things right than maybe some of the teams I captained were doing,” said Root, who stepped down as Test captain in early 2022 after a run of one win from his last 17 matches.“[Buttler has to] trust everything that he’s doing