Afternoon Coffee: Apple Responds to Tax Overhaul, Chinese Economy Set to Cool in 2018

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Apple laid out its plans in a statement Wednesday for how it would respond to the recent overhaul of the US tax code, the Wall Street Journal reports. Chief among the company’s moves will be a one-time tax payment of $38 billion on its overseas cash holdings and increased spending in the US, from building a new campus to billions of dollars of investment to develop advanced manufacturing closer to home.

China GDP

China’s economy grew a surprising 6.9% in 2017, up from a significant decline the year before, Quartz writes. But as the government there moves to tackle longstanding issues such as sovereign debt risks and factory pollution, analysts are forecasting a slowdown in 2018, to around 6.5%.

Coupa Claims Award 

Coupa announced Thursday it had won the “2017 Innovative Sourcing Technology of the Year” category at the annual PayStream Advisors Innovative Technology of the Year awards, according to a press release. The Coupa Sourcing Optimization won the award in the category “for providing sophisticated sourcing solutions that enable organizations to evaluate multiple criteria alongside price to help identify the ‘best’ solution,” the company said.

Manufacturing Growth 

And finally, a manufacturing update: US factory production rose for the fourth straight month in December, Bloomberg reports, underscoring a resurgence in the sector and paving the way for further advances in 2018. 

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