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Apple has reportedly started the production of its next-generation iPhone 15 in Tamil Nadu, India, reports Bloomberg.
Apple has reportedly started the production of its next-generation iPhone 15 in Tamil Nadu, India, reports Bloomberg. The Foxconn factory located in Sriperumbudur is gearing up to roll out the latest iPhone 15 models. This comes shortly after the start of shipments from Chinese factories, highlighti...
The Foxconn factory located in Sriperumbudur is gearing up to roll out the latest iPhone 15 models.
iPhone 15 production in India depends on the stock of imported components and the ramp-up of production lines at the Foxconn plant near Chennai.
Other Apple suppliers in India, such as Pegatron and a Wistron facility soon to be acquired by the Tata Group, are also expected to join the iPhone 15 production machine.
5% HISA... for the Long-run? (Podcast)
In this episode, we tackle the timely topic of higher interest rates and their potential impact on investors' decisions. With rates soaring to unprecedented levels, many are tempted to veer off their investment paths in pursuit of short-term gains. But is this a rational choice? We break it down and offer invaluable insights into why staying the course might be the wiser option.
Another big week of earnings coming up!
• Monday: $PARA, $PLTR. • Tuesday: $DDOG, $TWLO, $UPS, $UPST, $RIVN. • Wednesday: $DIS $RBLX, $SONY, $TTD. • Thursday: $BABA, $CYBR.
Telus announces 6,000-person layoff after Q2 saw 61% drop in net income
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Plans to reduce its workforce were announced at the same time as the company revealed its second-quarter net income fell almost 61 per cent from the same period last year to $196 million.
The company's net income amounted to 14 cents per share for the quarter ended June 30 compared with 34 cents per share in the same quarter a year earlier
Apple reports third quarter results, Services revenue reaches new all-time high
Apple today announced financial results for its fiscal 2023 third quarter ended July 1, 2023.
Apple today announced financial results for its fiscal 2023 third quarter ended July 1, 2023. The Company posted quarterly revenue of $81.8 billion, down 1 percent year over year, and quarterly earnings per diluted share of $1.26, up 5 percent year over year.
Breakdown per cartegory:
• iPhone: $39.669 billion (Down 2.4% YoY)
• Mac: $6.840 billion (Down 7.3% YoY)
• iPad: $5.791 billion (Down 19.8% YoY)
• Wearables, home, and accessories: $8.284 billion (Up 2.5% YoY)
• Services: $21.213 billion (Up 8.2% YoY)
Warren Buffett just said he's not worried about Fitch's downgrade of the US credit rating
Warren Buffett shrugged off Fitch's U.S. downgrade, noting it doesn't change what his conglomerate, Berkshire Hathaway, is doing at the moment.
“There are some things people shouldn’t worry about,” he said. “This is one.”
“Berkshire bought $10 billion in U.S. Treasurys last Monday. We bought $10 billion in Treasurys this Monday. And the only question for next Monday is whether we will buy $10 billion in 3-month or 6-month” T-bills, Buffett told CNBC.
Buffett did note that the concerns are valid though but not enough to change his views on U.S. Treasurys and the dollar
National Bank of Canada says it will acquire the Canadian branch of Silicon Valley Bank's commercial loan portfolio.
The Montreal-based bank says the portfolio it will nab is made up of about $1 billion in loan commitments, of which $325 million are outstanding.
Much of the portfolio is focused on the technology, life science and global fund banking sectors and will be integrated into National Bank's technology and innovation banking group.
Walmart Pays $1.4 Billion to Boost Flipkart Stake
Purchase of shares from Tiger Global values Indian e-commerce company at about $35 billion
Statistics Canada says Canada’s inflation rate tumbled to 2.8 per cent in June, putting it within the Bank of Canada’s target range.
Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.
Canadians continued to see elevated grocery prices (+9.1%) and mortgage interest costs (+30.1%) in June, with those indexes contributing the most to the headline CPI increase.
The all-items excluding food index rose 1.7% and the all-items excluding mortgage interest cost index rose 2.0%.
https://www150.statcan.gc.ca/n1/daily-quotidien/230718/dq230718a-eng.htm?HPA=1
Fidelity Investments Canada ULC has signed a deal that will offer investors exposure to private real estate investments through Brookfield Asset Management.
Fidelity says the agreement with Brookfield will allow it to continue to grow its alternative investment offerings and broaden its overall investment capabilities.
The Bank of Canada has raised its policy rate by 25 basis points to 5 per cent, continuing its quantitative tightening path.
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Laurentian Bank of Canada, which has been working on a turnaround under a new chief executive officer since late 2020, has started a strategic review that may lead to a sale.
Laurentian Bank of Canada, which has been working on a turnaround under a new chief executive officer since late 2020, has started a strategic review that may lead to a sale.
The review is intended to “maximize shareholder and stakeholder value,” the bank said in a statement. It has hired JPMorgan Chase & Co. to approach potential buyers, the Globe and Mail reported Tuesday. The process started after a rival bank made a bid for the lender, the newspaper reported, citing people it didn’t name.
Nasdaq has announced a "special rebalance" for the Nasdaq 100 to address the overconcentration and weight that the biggest tech companies have on the index.
This is the first ever "special rebalance" carried out by the overseer of the index.
The Bank of Canada is expected to raise interest rates again this week as forecasters say the economy has not softened enough for the central bank to back off.
Deloitte's chief economist, Dawn Desjardins, said there have been some recent signs that the economy is taking a turn, with the latest job report for June showing the unemployment rate rising and wage growth slowing.
But the overall picture suggests inflation is still sticky, wage growth is high and the economy continues to churn, she said.
Insolvency firm MNP reports 52% of Canadians are $200 or less away from being unable to pay bills due to rising interest rates and living costs.
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The report says 35 per cent of those asked say they already don't make enough to cover their bills and debt payments, up from 30 per cent in April and a record high for the survey. It also says a record 48 per cent of those surveyed are concerned about their current level of debt.