Jan 9, 2019

Tim Cook says Apple will bolster health offerings this year

Tim Cook, chief executive officer of Apple. Photo: Justin Sullivan/Getty Images

Apple CEO Tim Cook told CNBC on Tuesday that the company will roll out more services to its growing healthcare footprint this year, adding that health will be the tech giant’s "greatest contribution to mankind."

The big picture: Though Cook didn't offer any specifics, the company has recently been investing in health and wellness programs through the Apple Watch, adding features that can monitor users' heart rates and detect falls. Apple has also hired dozens of doctors, an indication of its broader health care aspirations.

Other highlights:

  • Cook reiterated to CNBC that the economic slowdown in China contributed to Apple's revenue warning last week, but said that he believes the downturn is temporary and that he has heard "some very encouraging words" about a possible U.S.-China trade deal.
  • Cook also said that Apple has not been in "any settlement discussions" with chipmaker Qualcomm since the third quarter of 2018.
  • P.S. The Wall Street Journal reported Tuesday that Cook received a 22% pay raise in fiscal 2018 after Apple blew past its sales and profit goals, bringing his annual compensation to $15.7 million.

Go deeper: Apple's expanding health lab

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House Democrats lose appeal to force McGahn testimony

Photo: Alex Wong / Staff

Democrats in the House lost an appeal to force former White House Counsel Don McGhan to comply with a subpoena, Politico was the first to report.

Why it matters: McGahn was seen as a crucial witness in the House investigation into whether President Trump tried to obstruct the Mueller inquiry. The U.S. Court of Appeals for the District of Columbia Circuit ruled 2-1 on Friday that it court did not have the authority to resolve the dispute between the executive and legislative branches.

The Americans who can't hide from coronavirus

Illustration: Eniola Odetunde/Axios

The stock markets are in bad shape, but for the millions of Americans who aren’t invested in stocks, coronavirus is presenting a far more imminent concern.

Why it matters: Quarantines usually work with at least 90% participation, but many Americans lack the flexibility to work remotely, take a sick day or absorb having schools close.

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Wall Street notches worst week for stocks since 2008

Traders work on the floor of the New York Stock Exchange. Photo: Scott Heins/Getty Images

Stocks closed down about 1% on Friday, ending the worst week for Wall Street since the financial crisis.

Why it matters: The stretch of declines came after a spike in coronavirus cases around the world earlier this week. The steep losses prompted questions about the fate of the record-long economic expansion, as well as a rare statement from the Federal Reserve.

Go deeper: The growing coronavirus recession threat