News Write Up- Tim Cook is going to Beijing With $1 Billion in Goodwill

Aug 11th, 2016
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Business Studies Document on News Write Up

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Running Head: TIM COOK IS GOING TO BEIJING WITH $1 BILLION IN GOODWILLTim Cook is going to Beijing With $1 Billion in GoodwillNameInstitution1Running Head: TIM COOK IS GOING TO BEIJING WITH $1 BILLION IN GOODWILL2Tim Cook is going to Beijing with $1 billion in goodwillDescription of EventRecent news in an article published in CNNMoney state that Tim Cook has just made avery public deal in the future of China. He has bet one billion dollars on the country's version ofUber as he prepares for a trip to Beijing (Goldman & Riley, 2016). The company has invested inDidi Chuxing; a Chinese transportation network company that has its headquarters in Beijing.Apple Chief Executive Tim Cook said that this move would help the company better understandthe critical Chinese market. This investment is unusual for Apple because Apple is known to takeup smaller companies in whole. On the other hand, this investment showcases Apple's latestdirect focus and interest on China. The company CEO shows this much interest in China becausehe foresees the country outdo the United States as the Apples top market. This deal is expectedto benefit the Apple Companys relationship with Beijing and give Tim Cook positive news totalk about in the forthcoming meetings with senior officials. There are reports that the CEO willvisit Beijing towards the end of the month; though a spokesman for the company refused tocomment on the report.Connection to International Business

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