The bottom line
Apple has more than $250 billion in cash, an amount greater than the market value of Walmart and more than the foreign currency reserves of the United Kingdom and Canada combined. More than 90 percent of Apple’s cash is held outside the U.S.
The Wall Street Journal
The price of cobalt, which is used to make lithium-ion batteries that are in everything from smartphones to electric cars, has soared by almost 70_percent this year. The Democratic Republic of Congo holds more than 60_percent of the world’s cobalt reserves.
There were more than 850,000 new homeowners in the first three months of 2017, compared with 365,000 new renters. Although the U.S. homeownership rate of 63.6 percent is still near a historic low, the first quarter was the first time the number of homeowners has grown faster than renters since 2006.
The 25 U.S. companies with the best-paying summer internships each pay their interns at least $4,500 a month, equivalent to a $54,000 annual salary. By comparison, the median pay for a U.S. worker is $44,460 a year. Sixteen of those firms are in technology, including list-leader Facebook, where interns make a median of $8,000 a month. The next three on the list are Microsoft (which pays a median $7,100 a month), ExxonMobil ($6,507), and Salesforce ($6,450).
The Washington Post
Global revenue from streaming-music services like Spotify and Apple Music surged 60 percent last year, propelling the music industry to its fastest growth in nearly 20 years. Digital revenue now makes up 50 percent of global music sales.