The daily business briefing: April 27, 2021

Apple announces plans for its first eastern hub in North Carolina, Tesla shares fall despite better-than-expected earnings, and more

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1. Apple to build $1 billion hub in North Carolina

Apple announced Monday that it would build a $1 billion campus and engineering hub in the Raleigh-Durham, North Carolina, metropolitan area, its first in the East. The project, part of five-year series of investments, is expected to create at least 3,000 jobs in machine learning, artificial intelligence, software engineering, and other specialties. The positions are part of the iPhone maker's promise to add 20,000 U.S. jobs by 2026. The company currently has 95,000 employees in the U.S. Several other big tech companies already have hubs in the Raleigh-Durham area, including International Business Machines' Red Hat, Cisco Systems, and Epic Games, as the industry expands beyond California's Silicon Valley to find skilled workers in other parts of the country.

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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.