Today in business: 5 things you need to know

Apple brings some of its manufacturing home, jobless claims fall, and more in our roundup of the business stories that are making news and driving opinion

Pedestrians walk past an Apple Store in San Francisco.
(Image credit: Justin Sullivan/Getty Images)

1. APPLE MOVES SOME MAC PRODUCTION TO U.S.

Apple CEO Tim Cook says the company will shift some of its production away from China and bring some of its manufacturing back to the U.S., according to Bloomberg. The iPad and iPhone maker is investing $100 million to start building one of its Mac lines at home, Cook says. The vast majority of its products will still come from Asia. The news came as Apple's stock price fluctuated on Thursday, a day after the shares' steepest one-day drop in nearly four years. Apple shares, shaken by rising competition for its dominant iPad tablets, fell as low as $518.63, down from a September peak of $705.07, before returning to positive territory by late morning. Apple stock is still up 30 percent since the start of the year. [Bloomberg]

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.