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Apple says it will pay $38bn in foreign cash taxes and create 20,000 US jobs

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Apple said on Wednesday it would make a one-time payment of $38bn to repatriate some of its vast overseas cash holdings. The company, which has faced international criticism for its tax evasion policies, also said it would spend $30bn in the US over the next five years, creating 20,000 new jobs. Lawmakers in the US, European Union and the UK have criticized Apple over its tax policies. The company holds $246bn in low-tax countries. During the election campaign, Donald Trump attacked Apple’s policy of building its phones, tablets and other gadge... Read More »

Eurozone jobless rate hits lowest level in almost nine years as recovery strengthens

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Unemployment in the Eurozone hit its lowest rate for almost nine years last November, the latest sign of the revival of the single currency area’s economy. Eurostat, the EU's official statistics agency said that the jobless rate fell to 8.7 per cent, hitting analyst predictions and down from 8.8 per cent in October. The figures are the lowest since January 2009, when the eurozone was reeling from a deep recession following the global financial crisis. The agency said the number of unemployed fell by 107,000 during the month, taking the total do... Read More »

Apple: Chinese firm to operate China iCloud accounts

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It has contacted customers based in China, advising them to examine new terms and conditions. They include a clause that both Apple and the Chinese firm will have access to all data stored on iCloud. Apple said it had made the move to comply with the country's cloud computing regulations. iCloud accounts registered outside of China are not affected. 'Strong data privacy' The Chinese cyber security rules, introduced in July last year, include a requirement for companies to store all data within China. The firm, Guizhou on the Cloud Big Data (G... Read More »

World’s Biggest Education Market Is Opening For Business

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Successive reforms of strict prohibitions on foreign-owned schools has seen the number of students enrolled in international schools rise, with the Chinese market now the largest in the world. And the most lucrative end of the market is in line for a significant fillip in 2018 following changes introduced this year. Suspicion of western influence has been behind a historical reluctance on the part of the Chinese authorities to allow international schools to gain anything more than a toe-hold in the country. Access was generally denied to Chi... Read More »

Serena Williams to make comeback in Abu Dhabi after giving birth

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The American, 36, will play world number seven Jelena Ostapenko in an exhibition match on 30 December during the Mubadala World Tennis Championship. Williams, who has won an Open-era record 23 Grand Slams, said she was "delighted to be returning to the court". She gave birth to daughter Alexis Olympia Ohanian in September. Former world number one Williams has not played since winning the Australian Open in January. Coach Patrick Mouratoglou said in November that no decision had been made over whether Williams would play in the season's fi... Read More »

Spain agrees 4 percent rise in minimum wage for 2018

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pain’s economy emerged from recession in 2013 and become one of the fastest growing economies in the euro zone. However, many of the jobs created during the recovery have been temporary or part-time, leading to low wages and rising inequality. Unions have long asked for wages to rise to reflect Spain’s strong economic growth. The government’s end-of-year growth forecast is 3.1 percent. On Tuesday, they said they were pleased with the wage increase. “It is a boost to rebuild the salaries of people who lost most in the economic crisis,” sai... Read More »

Harry Potter author JK Rowling to be made Companion of Honour at Buckingham Palace

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Rowling, who is also marking two decades since the publication of the first book in her best-selling series, has been honoured for services to literature and philanthropy. The 52-year-old will be decorated with the rare title, befitting of one of her fantastical characters, in addition to her OBE, which she was awarded in 2001. Membership of the Order of the Companions of Honour, established in 1917 by George V, is a special award held by only 65 people at any one time, and recognises services of national importance. Rowling, whose fir... Read More »

KLM cabin crew set for 24-hour strike on January 8

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The union says for the past year crews have been placed in an ‘unworkable situation’ by the decision which has led to an ‘enormous’ increase in the pressure of work and disadvantages passengers. Previous protests about the measure have been of much shorter duration. KLM told news website Nu.nl it had taken note of the union’s plans. The FNV says the action could lead to no KLM flights leaving Schiphol airport on January 8. ... Read More »

European Medicines agency will bring jobs, generate millions of euros

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The 890 workers will have an estimated €45m in net salaries to spend and much of that will benefit local shops, service providers, bars and restaurants, ING says. In addition, housing the EMA workers will bring in €10m to €15m while the 30,000 overnight stays which EMA visitors will book will generate €4m for the hotel sector. The Financieele Dagblad says experts suggest the EU agency will provide work for 1,500 people working in catering, cleaning, security, childcare and teaching. In addition, some 200 of the agency’s 890 staff are not exp... Read More »

Ryanair pilots to strike before Christmas

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In Ireland, 79 pilots based in Dublin will strike for one day on 20 December. The airline, which does not recognise unions, said they represented about 28% of its Dublin-based captains. Meanwhile, Ryanair pilots and cabin crew in Italy plan to strike for four hours on 15 December. The airline said last week it would "ignore" the Italian move, claiming staff rarely heeded calls to walk out. Pilots based in Portugal and Germany also plan industrial action. Cockpit, the German pilots' union, said its Ryanair members would strike for better pay ... Read More »

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