>Settlement over slow iPhones
Apple Inc has agreed to pay up to $500 million to settle litigation accusing it of quietly slowing down older iPhones as it launched new models, in order to induce owners to buy replacement phones or batteries.
The preliminary proposed class-action settlement was disclosed on Friday night and requires approval by US District Judge Edward Davila in San Jose, California.
It calls for Apple to pay consumers $25 per iPhone, which may be adjusted up or down depending on how many iPhones are eligible, with a minimum total payout of $310 million.
Apple denied wrongdoing and settled the nationwide case to avoid the burdens and costs of litigation, court record show.
>GE's Jack Welch dies at 84
Jack Welch, who upended the business world in the 1980s and 1990s by transforming General Electric Co from a stolid maker of light bulbs and washing machines into the most valuable US public company, has died at 84, GE said on Monday.
Known as "Neutron Jack" for cutting thousands of jobs, Welch bought and sold scores of businesses, expanded the industrial giant into financial services, and produced steadily rising profits.
His success led other CEOs to begin using financial wizardry to improve earnings and wow Wall Street.
In 1980, the year before Welch became CEO, GE recorded revenues of $26.8 billion; in 2000, the year before he left, they were nearly $130 billion.
In 2001, GE was one of the largest and most valuable companies in the world.
In Welch's 20 years as CEO, GE's market value grew from $12 billion to $410 billion, making him one of the most iconic corporate leaders of his era.
>Biosecurity top legal priority
China will speed up its legislative process for a biosecurity law to secure national biosecurity, Wu Qian, a spokesperson at the Ministry of National Defense, said on Monday.
Wu said enhancing biosecurity is a common practice by many nations, and the international community has always attached great importance to biosecurity issues.
China has decided to include biosecurity into its national security system, systematically plan the construction of national biosecurity risk control and management system, and comprehensively boost the country's capability to govern national biosecurity, in a bid to safeguard public health, ensure national security and safeguard the country's long-term peace and stability, Wu said.
>Daily mask output exceeds 110M
China is working hard to boost the production of masks, and the output has been growing rapidly, according to the country's top economic regulator.
China's daily production capability of masks was well over 110 million units as of Saturday, effectively closing the gap between supply and demand amid the novel coronavirus pneumonia outbreak, the National Development and Reform Commission (NDRC) said on Monday.
According to NDRC, Saturday's output of masks reached 116 million, which was 12 times the number on Feb 1.
China is able to serve front-line medical workers' demand for urgently needed N95 medical masks, as 1.66 million N95 medical masks were produced per day in the country, and the daily production capacity reached 1.96 million units, the commission said.
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