Here’s what we have for you today:
• Zuckerberg and Chan’s study
• Apple’s Asian partners
• India’s regulations
Apple supplier shifts
Transition: Apple supplier Foxconn is seeking Indian partners to cooperate in areas such as chips and electric vehicles.
The move: Young Liu, the company’s chairman and CEO said “Foxconn will continue to communicate with local governments to seek the most beneficial development opportunities for the company and all stakeholders.”
The migration: Apple devices are currently manufactured in India by Foxconn, Wistron and Pegatron, which are all Taiwanese companies.
Zuckerberg’s new investment
The initiative: With $250 million, Mark Zuckerberg and his wife Priscilla Chan will build a biomedical research facility that will harness the power of a consortium of researchers from Northwestern University, the University of Chicago, and the University of Illinois Urbana-Champaign.
The plan: The goal is for “solving grand scientific challenges on a 10-to-15-year time horizon.”
The motive: The biohub will “embark on science to embed miniaturized sensors into tissues that will allow us to understand how healthy and diseased tissues function in unprecedented detail.”
India’s central bank on Amazon
Compliance: Amazon Pay’s India unit was fined for over $373,300 in regards to non-compliance with local guidelines in relation to prepaid payment instruments and KYC requirements.
Governmental restrictions: The fine comes at a time when the Indian central bank is toughening its compliance requirements for fintech and Big Tech firms in the country.
The market: India is a key market for Amazon, which has deployed over $7 billion in the country over the last decade.