China surpassed the U.S. as the top target of foreign direct investment last year, underscoring how the quick containment of its Covid-19 outbreak helped the economy rebound, and belying talk of China decoupling from the rest of the world. A report by the United Nations Conference on Trade and Development said that investment flows to the U.S. fell by half while they rose some 4% to China,...
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Apple’s Blissful Ignorance on App Store Profits
If Apple executive Phil Schiller is to be believed, Apple executives don’t know whether the App Store is profitable. That subject “doesn’t come up” in internal Apple discussions, Schiller testified today at the Epic-Apple trial. This is a business that by some estimates generates between $10 billion and $12 billion in annual profits for Apple—nearly 20% of its total profit—and executives don’t...
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