• Apple CEO Tim Cook has collected $89.6 million as part of a 10-year deal that he signed as an incentive to keep the iPhone maker at the forefront of the technology industry after he took over the reins in 2011 from company co-founder Steve Jobs.
The windfall detailed in a Monday regulatory flowed from 560,000 Apple shares sold during the past week.
Cook received half the award because Apple’s stock delivered shareholder returns in the top third of the Standard & Poor’s 500 index during the past three years. He got the other 280,000 shares for simply staying on the job.
Apple set aside more than 291,000 shares sold for $46.4 million to cover Cook’s tax bill.
• A video about a robotic aircraft delivering medicine to a remote village in the Amazon is the best-in-show winner at the New York State Fair’s first competition for short videos using cameras on drones.
The competition received 83 entries from across the state and around the world. There were winners in eight categories including one featuring New York state.
Gov. Andrew Cuomo announced the winners on Monday. The Democratic governor said the competition supports the Central New York Rising economic development plan, which centres on drone technology.
A documentary on the Erie Canal’s bicentennial won the category for New York state drones.
• Automakers Renault and Nissan say they will develop electric cars with a Chinese state-owned partner, adding to a series of tie-ups between global auto brands and local partners in the biggest electric vehicle market.
The venture Dongfeng Motor Corp. aims to develop a vehicle based on an SUV platform shared by Renault and Nissan, the companies announced Tuesday.
Production is due to begin in 2019.
Global automakers are investing heavily to develop electric vehicles for China, responding to rising demand and government pressure on the industry to speed up technology development.
Chinese planners see electrics as a promising industry and a way to clean up smog-choked cities.
They have supported sales with subsidies to buyers, while a proposed quota system will require automakers to meet targets for electric vehicle production or buy credits from competitors that do.