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Apple desperately needs its Next Big Thing
  + stars: | 2024-05-14 | by ( Paris Marx | ) www.businessinsider.com   time to read: +10 min
But after a decade of doing that, iPhone sales are slowing, revenue is down, and the company, again, needs to find its next big thing. Apple's own outlook suggests poor iPhone sales will persist, especially as sales in China rapidly decline. The drawbacks of Cook's divestment from product design and development are now becoming clearer. Both the EU and the US cases would also make some people more likely to switch to a cheaper phone, which would threaten iPhone sales even further. The drawbacks of Cook's divestment from product design and development are now becoming clearer.
Persons: Steve Jobs, Jobs, Apple, Tim Cook, Cook, haven't, Steve, Tripp Mickle, Jony Ive, we've, wouldn't, Let's, aren't, Peter Kafka Organizations: Apple, Apple Watch, IBM, Google, EU, Bloomberg, Nasdaq, Business Locations: China, Asia, India, Indonesia
Saudi Arabia needs foreign businesses to help it realize its Neom megacity project. The BBC reported that Saudi officials were given a license to use lethal force to clear land. But underneath the image is a far darker reality, say campaigners, which could threaten the foreign cash and expertise Saudi Arabia needs to realize its ambitions. Though his decision took place in 2022, it was given new urgency by a whistleblower giving more detail on how Saudi officials may have acted. Amnesty International said businesses ought to be wary of doing deals in Saudi Arabia and called for UK officials to push for an independent investigation into the Neom land clearances.
Persons: , Malcolm Aw, Col Rabih Alenezi, Dana Ahmed, Mohammed bin Salman, Jamal al, Neom Organizations: BBC, Saudi, Service, UN, Telegraph, Amnesty International, Amnesty, Politico, The Atlantic Council, Business Locations: Saudi Arabia, Saudi
Madi Lee says she lives comfortably in Medora earning $50,000 per year working at the Theodore Roosevelt Medora Foundation. Take Madi Lee, 24, who graduated in 2022 and found herself working in Medora, North Dakota — popoulation: 121. Medora is a tourist town near Theodore Roosevelt National Park where the busy season brings in thousands of visitors. Madi Lee, 24, moved to Medora, North Dakota, which has a year-round population of 121 people. Courtesy of Madi Lee
Persons: Madi Lee, Theodore Roosevelt Medora, Theodore Roosevelt, Lee, I'm, Roth, Medora, she's, she'll Organizations: Theodore Roosevelt Medora Foundation . New, D.C, Theodore Roosevelt Medora Foundation, Ford Bronco, University of Minnesota Duluth Locations: Theodore Roosevelt Medora Foundation . New York City, Washington, Salt Lake City, Medora , North Dakota, Theodore, Madi Lee, Medora, Dickinson, North Dakota, it's, Roseau , Minnesota, Madi
The Senate is racing against a Friday deadline to pass legislation to reauthorize the Federal Aviation Administration at a moment of intense uncertainty and disruption in the air travel system, but a host of policy disputes and unrelated issues are threatening to prolong the debate. As one of the few remaining bills considered a must-pass item this year, the F.A.A. package has become a magnet for dozens of amendments and policy riders that lawmakers are fighting for a vote on, which has slowed its progress in the Senate. and another $738 million to the National Transportation Safety Board for airport modernization, technology programs and safety. It also would bolster the hiring and training of air traffic controllers, codify airlines’ refund obligations to passengers and strengthen protections for passengers with disabilities.
Persons: Chuck Schumer, Organizations: Federal Aviation Administration, Senate, National Transportation Safety Board Locations: New York
What if no one wants a cheap Tesla?
  + stars: | 2024-04-24 | by ( Matt Turner | Hayley Peterson | ) www.businessinsider.com   time to read: +6 min
Even at a lower price, say $25,000, it's a very significant purchase — likely one of the most expensive purchases a person will make. AdvertisementSo let's for a second look at why a lower ticket price might not be a panacea for Tesla. There are many other Tesla buyers, of course, but as Tesla introduces lower-cost models in search of different buyers, needs will shift. Musk and Tesla are politicizedAs Tesla looks to lure potential new buyers with a cheaper car, it will have to contend with souring consumer sentiment toward the EV maker. Maybe the pool of buyers for a cheap Tesla will be ginormous.
Persons: , Tesla, Elon Musk, TSLA, EVs, It's, BYD, Musk, it's Organizations: Service, Business, Tesla, EV, UBS, Infrastructure, Honda Civic, Toyota, Reuters, Bloomberg, Association, Renault, Elon Locations: California, headwinds, China, India
London CNN —Last week, former UK Prime Minister Boris Johnson treated a Canadian crowd to a helping of his signature bombast. Second World War-era Conservative British Prime Minister, Winston Churchill, is also one of history's most famous cigar smokers. Central Press/Hulton Archive/Getty ImagesDespite what Johnson may have led his audience to believe, a potential smoking ban enjoys broad popular support in the UK. New Zealand’s conservative National Party introduced a similar phased smoking ban last year, but reversed it before it went into effect to help pay for tax cuts. Smoking costs the NHS an estimated £2.5 billion ($3.1 billion) every year, equivalent to 2% of the health service’s budget.
Persons: Holly Thomas, Katie Couric, London CNN —, Boris Johnson, Winston Churchill, , It’s, Rishi Sunak, Johnson, YouGov, Conservative backbenchers, Liz Truss, they’d, it’ll, Organizations: Katie Couric Media, CNN, London CNN, Conservative Party Conference, Conservative British, Central Press, Hulton, National Health Service, Conservative, New, National Party, Cancer Research, Tory Locations: London, Quebec, Britain, America, England, Wales, Scotland
Stock Chart Icon Stock chart icon Bitcoin (BTC), entering its fourth halving period next week. After the 2012, 2016 and 2020 halvings, the bitcoin price ran up about 93x, 30x and 8x, respectively, from its halving day price to its cycle top. The halving occurs when incentives for bitcoin miners are cut by half, as mandated by the code of the Bitcoin blockchain. Zoom In Icon Arrows pointing outwardsThat $30 million assumes a bitcoin price of about $70,000. Diminishing returns from halving to halving Bitcoin has always shot to the moon in the months following its halving – that's what makes it such a celebrated day among enthusiasts.
Persons: Yu Chun Christopher Wong, bitcoin, Antoni Trenchev, it's, Steven Lubka, Swan Bitcoin, Trenchev, Swan's Lubka, Lubka Organizations: S3studio, Wall, Swan, Miners
Speaker Mike Johnson may not have a functional majority in Congress, but his job is similar to the Republicans who preceded him in at least one respect: The duties include the difficult task of managing Donald J. Trump. Mr. Johnson on Friday will travel to Mar-a-Lago, Mr. Trump’s Florida estate, to join him for what the speaker has billed as a “major announcement on election integrity.” No further details have been forthcoming. The two men had been planning to get together for a political meeting, but Mr. Johnson’s team suggested a joint public appearance on a topic Mr. Trump cares deeply about, according to two people familiar with the planning. It will afford Mr. Johnson the opportunity to stand shoulder to shoulder with Mr. Trump at a precarious moment in his speakership, as he works to corral a minuscule and deeply divided majority around a legislative agenda many of them oppose — all while facing the threat of an ouster from Representative Marjorie Taylor Greene, a far-right Georgia Republican and ride-or-die Trump ally. Making matters even trickier, Mr. Trump, the former president and presumptive Republican presidential nominee, is helping to undermine that agenda.
Persons: Mike Johnson, Donald J, Trump, Johnson, , Johnson’s, Marjorie Taylor Greene Organizations: Mr, Georgia Republican Locations: Trump’s Florida
For fiscal year 2023, credit card revenue totaled $619 million for Macy's and approximately $475 million for Nordstrom . The three companies do not break out how much of total credit card revenue comes from late fees. All of that adds up to dwindling credit card revenue for retailers, who can now expect to see it shrink even further. Target's credit card revenue fell to $667 million last year, down from $734 million in the prior fiscal year. Gap does not disclose credit card revenue, but its Chief Financial Officer, Katrina O'Connell, said on an earnings call that losses from late fees will be "largely offset in 2024 by other levers within our credit card program."
Persons: Robert Nickelsberg, it'll, Jane Hali, Kohl's, David Silverman, Silverman, , Michael Fiddelke, Macy's, Adrian Mitchell, It's, Nordstrom, Katrina O'Connell Organizations: Getty Images Department, Consumer Financial, Bureau, Associates, Nordstrom, Fitch, TD Bank, Shoppers, Adobe Analytics, Citi, Sam's Locations: New York City
You might miss a massive move in Trump Media & Technology Group’s stock price. Trump Media is so turbulent that it makes bitcoin’s volatility look tame. There are many reasons why Trump Media shares have been so volatile, including the fact that the company is inextricably linked to the former president. This dynamic makes it easier for investors to place bullish bets, sending Trump Media shares surging. But that has been trickier with Trump Media, allowing its stock to spike in its early days.
Persons: Donald Trump, it’s Trump, , Matthew Tuttle, Michael Ohlrogge, Matthew Kennedy, Kennedy, , it’s, Bob Sloan, Tuttle, Charles Schwab, ” Tuttle, Ohlrogge, Trump, Renaissance’s Kennedy, Jonathan Macey, ” Macey Organizations: New, New York CNN, Trump Media & Technology, Trump Media, Trump, Tuttle Capital Management, Trump Media’s, NYU School of Law, Similarweb, Renaissance, Facebook, Meta, “ Traders, Companies, S3 Partners, CNN, NYU, MBT, Yale Law School Locations: New York
The biggest red flag hiring managers look for in job candidates is an AI-generated resume, according to new research from Resume Genius, which surveyed 625 hiring managers across the U.S. Other resume faux pas include poor formatting and typos. Here are the three biggest resume red flags that could cost you a job offer, and how to avoid them, according to a hiring expert:AI-generated resumesMore than half (53%) of hiring managers say they have reservations about resumes that include AI-generated content, with 20% calling it a "critical issue" that might prevent them from hiring someone. DON'T MISS: The ultimate guide to acing your interview and landing your dream jobFrequent job-hoppingSimilarly, resumes showing a pattern of frequent job-hopping make 50% of hiring managers hesitant to move forward with a candidate, Resume Genius found. This red flag is trickier to avoid: If you've switched jobs a lot, you can't lie about your employment history. Plus, hiring managers have different definitions of what constitutes excessive job-hopping.
Persons: Michelle Reisdorf, Robert Half, didn't, Reisdorf, it's, you've Organizations: U.S
But a resurgence in the industry could complicate the Federal Reserve’s ongoing inflation fight, either delaying the first interest rate cut or resulting in fewer cuts this year, some economists say. Interest rates have been at a two-decade high since July, after the Fed raised rates aggressively over the prior year and a half. The economy picking up further strength would spook Wall Street because of what it means for interest rates — and some manufacturers say they’re optimistic about the future. The Bank of Canada announces its latest interest rate decision. China’s National Bureau of Statistics releases March inflation data.
Persons: Joe Biden, , Tom Barkin, , Mary Daly, ” Daly, Jerome Powell, Neel Kashkari, ” Kashkari, ” Richard de Chazal, Blair, they’re “, Amazon’s, It’s, Ramishah Maruf, Amazon, haven’t, Read Organizations: Washington CNN, Institute for Supply Management, Congress, Fed, ” Richmond Fed, ” San Francisco Fed, Minneapolis, Dow, Blair Equity Research, Amazon, Fresh, Delta Air Lines, US Labor Department, Index, Bank of Canada, Federal Reserve, National Bureau of Statistics, Constellation Brands, European Central Bank, JPMorgan Chase, Citigroup, State, National Statistics, The University of Michigan Locations: Richmond , Virginia, ” San, Las Vegas, India, Wells Fargo, Progressive, BlackRock
Trian claims Disney's board has failed to generate sufficient returns in recent years as subscription streaming losses have mounted and traditional TV subscribers have declined. Early vote countBoth Disney and Trian received support from influential shareholders ahead of Wednesday's meeting. Roughly one-third of Disney's shareholders are retail shareholders, who historically vote in small numbers in annual meetings. The arrangement still raised questions about ValueAct's support for the company and whether Disney's board should have disclosed the prior relationship. WATCH: Disney board battle reaches final moments
Persons: Bob Iger, Mickey Mouse, Valerie Macon, Nelson Peltz, Jay Rasulo, They've, Maria Elena Lagomasino, Michael Froman, Peltz, Ike Perlmutter, Trian, Disney's, Iger, Bob Chapek, Patrick T, Adam Jeffery, Morgan Stanley, James Gorman, CNBC's, George Lucas, Laurene Powell Jobs, Lucas, Powell Jobs, Ken Squire, Rowe Price, Rowe, Mason Morfit's, ValueAct, Neuberger Berman, John Ferguson, Rasulo —, Glass Lewis, Iger's, Gorman, Jeremy Darroch, CNBC's Andrew Ross Sorkin, Heidi Gutman, Lagomasino, shouldn't, Blackwells, Rasulo, Jason Aintabi, John Foley, Jessica Schnell, Craig Hatkoff, Leah Solivan, ValueAct hasn't Organizations: AFP, Getty Images Disney, Voters, Trian Partners, Disney, PepsiCo, Marvel, SEC, Fallon, Bloomberg, Getty, CNBC Disney, CNBC, Star Wars, LucasArts, Pixar, BlackRock, Institutional, California Public Employees, Yacktman Asset Management, Saratoga Proxy, ISS, Sky, Trian Fund Management, NBCU, Bank, NBCUniversal, Green, Comcast Locations: Los Angeles, New York
Rep. Ken Buck, a Colorado Republican, abruptly announced that he's leaving Congress next week. AdvertisementRep. Ken Buck, a Colorado Republican, announced on Tuesday that he will leave Congress next week, further weakening the GOP's already thin House majority. House Republicans must still reach a deal with Senate Democrats and the White House on a long-term spending deal. Fellow Colorado Republican Rep. Lauren Boebert also faces her own difficult decision. A member of the far-right Freedom Caucus, the Colorado Republican has shown an increasing ability to defy his party.
Persons: Ken Buck, Mike Johnson, , Dana, Trump, Biden, Buck, Mike Johnson's, Johnson, Joe Biden, Jared Polis, Lauren Boebert, Boebert, carpetbagging, Kevin McCarthy, Steve Scalise, Alejandro Mayorkas, impeaching Mayorkas, I've Organizations: Colorado Republican, Service, CNN, GOP, New, Johnson . House Republicans, Democrats, White, Colorado Gov, Homeland, Caucus Locations: Colorado, New York, Ukraine, Israel, Taiwan, Logistically
In contrast, monetary policy refers to actions taken by a country's authority on money — the Federal Reserve in the U.S. — to reach a desired economic outcome. Fiscal policy and monetary policy are implemented independently, even as one impacts the other. Expansionary fiscal policy combined with contractionary monetary policy. Contractionary fiscal policy combined with expansionary monetary policy. Now consider a situation in which the Fed is easing its monetary policy while Washington raises taxes, thus reducing after-tax income.
Persons: it's, we've, Apple, Jim Cramer's, Jim Cramer, Jim Organizations: Federal, White House, nab, Federal Reserve, U.S, CNBC, Treasury, Fed, Companies, Jim Cramer's Charitable Locations: U.S, Washington
It also helped that she'd built six figures in savings, according to screenshots of her savings and investing accounts viewed by BI. She elaborated on her stock market and real estate investing strategies. While anyone can invest in the stock market starting with as little as $1 thanks to micro-investing platforms, owning real estate typically involves bigger upfront costs. "I could put down a 20% deposit, and then the bank will lend me 80% to buy this asset," she said. The cash flow you can generate from real estate is "far greater than what you'll get from most other investments," said Shah.
Persons: Nischa Shah, Shah, she'd, she's, It'll, , ​ ​ — Organizations: Business, YouTube, BI, Fidelity, Vanguard Locations: London, Real
Greg Gianforte blames Paramount's hit 2018 soap opera "Yellowstone" for what he calls his state's most pressing crisis: housing affordability. The so-called Montana Miracle has been celebrated by progressive housing advocates across the country. The policies are supply-side fixes for the crisis — creating more housing to drive down costs — rather than subsidizing renters or lower-income homebuyers. Education Images/Getty ImagesRunning on housingGianforte was "pretty distant" when it came to overseeing the housing task force, Dugan said. Last June, he extended the housing task force through the next legislative session.
Persons: , Greg Gianforte, Paramount's, Kevin Costner's, Gianforte, It's, it's, Kelly Lynch, who've, Mary Vanier, Kendall Cotton, Nathan Dugan, Daniel Zelnikov, Zelnikov, Lynch, Dugan, trickier, I've, he's, That's, Karlen, George Nikolakakos Organizations: Service, Business, Big Sky, Montana League of, Republican, Democratic, Montana, Frontier Institute, GOP Locations: Montana, Bozeman, and Towns, Montana's, Missoula, California, Whitefish, Washington
CNN —Taylor Swift and Travis Kelce only began dating in the summer but already speculation among fans over whether they’ll get engaged is reaching fever pitch. Why is there a rush to see Swift and Kelce get married? Swift and Kelce are both 34, and neither have been engaged or married yet. What’s more, pressure about marriage can put pressure on the couple, Sloan said. As for Swift and Kelce, they are the only ones who can see what goes on behind closed doors within their relationship.
Persons: CNN — Taylor Swift, Travis Kelce, they’ll, Swift, Kelce, , Kate Kurtin, , , Kurtin, ” Kurtin, Katherine Sloan, Sloan, What’s, ” Sloan, Organizations: CNN, Kansas City Chiefs, Swift, California State University Locations: Los Angeles, Asheville , North Carolina
The Apple Vision Pro transformed how I watch movies in my first week of using it. With the Vision Pro, the places you can watch a movie are endless as long as you have WiFi. Doing so while wearing the Vision Pro would require me to reposition my window to keep it in my line of sight. AdvertisementBut after some time, the coziness wore off, and the weight of the Vision Pro started to make laying down feel awkward. The Vision Pro can project a jumbotron-like big screen onto my ceiling, so of course I had to do just that.
Persons: , I'm, it's, Peacock, Jordan Hart Organizations: Apple, Service, Vision, Vision Pro, Disney
The most common measure of inflation, the CPI is expected to have fallen to 2.9% annually from 3.4% while the core CPI, excluding food and energy costs, is forecast to have declined to a 3.7% rate from 3.9% in December. Year-end revisions to 2023 CPI data, released last Friday, showed inflation was actually slightly lower on a monthly basis in December than earlier estimated. “But ‘generally’ doesn’t necessarily mean linear or consistent – there could very well be bumps ahead.”“Core inflation today is being primarily driven by shelter and wage-sensitive core services,” Lin added. Headier growth could mean prices will take longer to revert back to the 2% annual inflation target set by the Federal Reserve. The day also brings the first reading on consumer sentiment for February from the University of Michigan’s key index.
Persons: , BeiChen Lin, ” Lin, Jerome Powell, David Andolfatto, Louis, , Bill Adams, Waran Organizations: Russell Investments, Economic, Federal Reserve Bank, Atlanta’s, Federal Reserve, Research, Miami Herbert Business School, University of Miami, Federal Reserve Bank of St, University of, Comerica Bank, Locations: U.S
Learn moreIt's time for a free Asian Cup final live stream in what's turning out to be a packed weekend of epic games. You'll find all the links you need below to watch the AFC Asian Cup final online, wherever you are in the world. Meanwhile, in the UK, Triller is the home of Asian Cup live streams. Things get trickier when you leave the borders and head to a country not served by Paramount Plus or another broadcaster with the rights to show Asian Cup live streams. It's a fantastic option for Asian Cup live streams and beyond.
Persons: Triller, that's, it's, ExpressVPN, Jordan Organizations: Business, Qatar, AFC Asian, Paramount, Paramount Plus, Triller Locations: Canada, Australia, USA, Puerto Rico, Guam, Qatar
It's been collecting hourly data on measurements like the mountain's air temperature, total precipitation, humidity, and wind speed since the early '90s. On warm days, as sunlight heats the glaciers, the air just above the glacier's surface warms and rises. This creates a vacuum causing the cold air around the snowy peaks to rush down due to gravity. Then at night, the ice releases some of that stored heat energy, preventing the air temperature from dropping too low. The terrain has also gotten more technical as melting glaciers open up huge crevasses.
Persons: Everest, It's, Yifei Fang, Franco Salerno, Gordon Janow, Mount Rainier, We're, it's Organizations: Service, Nature, Business, Researchers, National Research Council, Institute of Polar Sciences Locations: Mt, Milan, Janow, Mount
The Fed won't cut rates until after the 2024 election, Santander's chief economist told Bloomberg. That's because inflation is likely to remain stubborn and cutting rates closer to the election date could be controversial. But according to Stanley, inflation numbers won't look as strong this year as they were toward the end of last year. But introducing the first rate cut closer to election day is trickier, and could be construed as a boost to incumbent president Joe Biden. And Stanley argued that based on their comments at the January meeting, the Fed doesn't seem close to being convinced about an early rate cut.
Persons: Santander's, , Stephen Stanley, Stanley, We've, Joe Biden, Donald Trump, Jerome Powell's Organizations: Bloomberg, Service
Travelcouples | Moment | Getty ImagesJan. 30 is National Plan for Vacation Day — and travelers mapping out their next excursion have a few reliable money-saving hacks at their disposal. Avoid peak seasonTraveling during a destination's shoulder or off season — and avoiding its busiest periods — is a surefire way to save big bucks, experts said. "Shifting away from the peak, peak months, even weeks, is key," said Hayley Berg, lead economist at Hopper, a travel app. June through August are generally among the busiest months for domestic and overseas trips — and that often means higher prices. watch nowFor example, on average, travelers can save 32%, or $112, on round-trip domestic airfare by going during September and October instead of peak summer months, according to Hopper data.
Persons: Hayley Berg, Hopper, Berg, Sally French Organizations: , Savings, Finance, Google Locations: New Europe, Oceania, Las Vegas, Miami, Cancun
Tattoo artist Felix Garcia shared her top tips for getting tattoos inspired by Disney characters. AdvertisementBusiness Insider spoke with Felix Garcia, a tattoo artist who specializes in Disney-inspired designs. The tattoo artist also said characters from "The Nightmare Before Christmas" can be trickier to recreate because of the style of animation used in the movie. Don't be afraid to do something differentIf customers love an unconventional tattoo concept, they should go for it. Clients may even want to consider getting a tattoo inspired by their favorite Disney ride.
Persons: Felix Garcia, shouldn't, , Garcia, Felix Garcia Garcia, Walt Disney, you'll Organizations: Disney, Service
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