Apple revamps EU App Store terms to avert more fines
LONDON — Apple has revamped its app store policies in the European Union with hopes of fending off escalating fines under the 27-nation bloc's digital competition regulations.
It's a last-minute bid by the iPhone maker to avoid further charges following a 500 million euro ($585 million) penalty in April. The bloc's executive Commission punished Apple for preventing app makers from pointing users to cheaper options outside its App Store, and gave it a 60-day deadline, which expired Thursday, to avoid additional, periodic fines.
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Yahoo
39 minutes ago
- Yahoo
Unemployment among young college graduates outpaces overall US joblessness rate
WASHINGTON (AP) — While completing a master's degree in data analysis, Palwasha Zahid moved from Dallas to a town near Silicon Valley. The location made it easy to visit the campuses of tech stalwarts such as Google, Apple, and Nvidia. Zahid, 25, completed her studies in December, but so far she hasn't found a job in the industry that surrounds her. 'It stings a little bit,' she said. 'I never imagined it would be this difficult just to get a foot in the door.' Young people graduating from college this spring and summer are facing one of the toughest job markets in more than a decade. The unemployment rate for degree holders ages 22 to 27 has reached its highest level in a dozen years, excluding the coronavirus pandemic. Joblessness among that group is now higher than the overall unemployment rate, and the gap is larger than it has been in more than three decades. The rise in unemployment has worried many economists as well as officials at the Federal Reserve because it could be an early sign of trouble for the economy. It suggests businesses are holding off on hiring new workers because of rampant uncertainty stemming from the Trump administration's tariff increases, which could slow growth. 'Young people are bearing the brunt of a lot of economic uncertainty,' Brad Hersbein, senior economist at the Upjohn Institute, a labor-focused think tank, said. 'The people that you often are most hesitant in hiring when economic conditions are uncertain are entry-level positions.' The growth of artificial intelligence may be playing an additional role by eating away at positions for beginners in white-collar professions such as information technology, finance, and law. Higher unemployment for younger graduates has also renewed concerns about the value of a college degree. More workers than ever have a four-year degree, which makes it less of a distinguishing factor in job applications. Murat Tasci, an economist at JPMorgan, calculates that 45% of workers have a four-year degree, up from 26% in 1992. While the difficulty of finding work has demoralized young people like Zahid, most economists argue that holding a college degree still offers clear lifetime benefits. Graduates earn higher pay and experience much less unemployment over their lifetimes. The overall U.S. unemployment rate is a still-low 4.2%, and the government's monthly jobs reports show the economy is generating modest job gains. But the additional jobs are concentrated in health care, government, and restaurants and hotels. Job gains in professions with more college grads, such as information technology, legal services, and accounting have languished in the past 12 months. The unemployment rate has stayed low mostly because layoffs are still relatively rare. The actual hiring rate — new hires as a percentage of all jobs — has fallen to 2014 levels, when the unemployment rate was much higher, at 6.2%. Economists call it a no-hire, no-fire economy. For college graduates 22 to 27 years old, the unemployment rate was 5.8% in March — the highest, excluding the pandemic, since 2012, and far above the nationwide rate. Lexie Lindo, 23, saw how reluctant companies were to hire while applying for more than 100 jobs last summer and fall after graduating from Clark Atlanta University with a business degree and 3.8 GPA. She had several summer internships in fields such as logistics and real estate while getting her degree, but no offer came. 'Nobody was taking interviews or responding back to any applications that I filled out,' Lindo, who is from Auburn, Georgia, said. "My resume is full, there's no gaps or anything. Every summer I'm doing something. It's just, 'OK, so what else are you looking for?'' She has returned to Clark for a master's program in supply chain studies and has an internship this summer at a Fortune 500 company in Austin, Texas. She's hopeful it will lead to a job next year. Artificial intelligence could be a culprit, particularly in IT. Matthew Martin, senior U.S. economist at Oxford Economics, has calculated that employment for college graduates 28 and above in computer science and mathematical occupations has increased a slight 0.8% since 2022. For those ages 22 to 27, it has fallen 8%, according to Martin. Company announcements have further fueled concerns. Tobi Lutke, CEO of online commerce software company Shopify, said in an April memo that before requesting new hires, 'teams must demonstrate why they cannot get what they want done using AI.' Last week, Amazon CEO Andy Jassy said AI would likely reduce the company's corporate workforce over the next few years. 'We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs,' Jassy said in a message to employees. 'We expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company.' Zahid worries that AI is hurting her chances. She remembers seeing big billboard ads for AI at the San Francisco airport that asked, 'Why hire a human when you could use AI?' Still, many economists argue that blaming AI is premature. Most companies are in the early stages of adopting the technology. Professional networking platform LinkedIn categorized occupations based on their exposure to AI and did not see big hiring differences between professions where AI was more prevalent and where it wasn't, said Kory Kantenga, the firm's head of economics for the Americas. 'We don't see any broad-based evidence that AI is having a disproportionate impact in the labor market or even a disproportionate impact on younger workers versus older workers,' Kantenga said. He added that the Federal Reserve's interest rate hikes have also slowed hiring in tech. Many IT firms expanded when the Fed pinned its short-term rate at nearly zero after the pandemic. In 2022, the Fed began cranking up rates to combat inflation, which made it harder to borrow and grow. In fact, IT's hiring spree when rates were low — fueled by millions of Americans ramping up their online shopping and video conferencing — left many firms with too many workers, economists say. Cory Stahle, an economist at the job-listings website Indeed, says postings for software development jobs, for example, have fallen 40% compared with four years ago. It's a sharp shift for students who began studying computer science when hiring was near its peak. Zahid, who lives in Dublin, California, has experienced this whiplash firsthand. When she entered college in 2019, her father, who is a network engineer, encouraged her to study IT and said it would be easy for her to get a job in the field. She initially studied psychology but decided she wanted something more hands-on and gravitated to data analysis. Her husband, 33, has a software development job, and friends of hers in IT received immediate job offers upon graduation a few years ago. Such rapid hiring seems to have disappeared now, she said. She has her college diploma, but hasn't hung it up yet. 'I will put it up when I actually get a job, confirming that it was worth it all,' she said. ___ AP Writer Matt Sedensky in New York contributed to this report.
Forbes
an hour ago
- Forbes
Apple iPhone 17 Series: The Best Views Yet Of All TheNew Designs Just Leaked
Updated June 28 with further images claiming to show the design of the iPhone 17 series. Although it's around 12 weeks until the next iPhones go on sale (read exactly when they will launch here), there have been numerous reports and leaks. The latest comes from a regular leaker, and aims to show exactly what the iPhone 17 Pro will look like in black. The same leaker has now posted more images, showing what the iPhone 17 Air and other models in the range will look like: more on that and images of the whole iPhone 17 series in the form of dummies below. Apple iPhone 16: are the new leaked dummy images of the iPhone 17 series accurate? Getty Images Of course, it's not yet known exactly what colors the next iPhones will come in, or what they'll be called, but it's highly likely that there will be a new black color this time around (which will be similar, perhaps, to the current titanium black found on the iPhone 16 Pro. Forbes Apple iPhone 17 Series Will Showcase 'Design Revamp,' New Report Claims By David Phelan The leak comes from serial tipster Majin Bu who has a strong, though not perfect, track record. Their latest post on X reads, 'iPhone 17 Pro Black, absolutely beautiful,' and the caption shows two images of what it will look like, it's claimed. It's a persuasive replica, with lots of detail and convincing materials. But the reason it's interesting is that it shows the new camera panel design in a way that many will find attractive. Previously, I've been skeptical about how the predicted wider camera panel will work in practice. Bloomberg's Mark Gurman revealed that the panel would not be black on all models, that it would match the color of the iPhone. So, it's not yet clear what models in other colors will look like, but the images here show a panel which seems in keeping with the handset, and even makes the three camera lenses look less dominant than they do on the iPhone 16 Pro. In the dummy, the panel looks as though it rises out of the phone more deeply than before, perhaps to create a greater distance between the lens and the sensor beneath. The lenses are still raised on top of the panel. This is the iPhone 17 Pro, and it's the Pro Max model which is rumored to be the thickest iPhone Pro yet, so this looks, well, not super-thin, but not chunky. Of course, however carefully researched a phone dummy is, it can only take us part way to understanding what the real thing will look like. But these images make the iPhone 17 Pro look better than some had been expecting. The same could be said for the iPhone 17 Air, which Majin Bu has also featured, in a post on X captioned, 'iPhone 17 Air looks fantastic,' and showing two images of dummies claiming to show what the slim iPhone, nicknamed the Air, will look like. If you've already seen images said to be the iPhone 17 Air, you'll know that it has quite a different look on the rear of the phone (let alone its profile). There's only one camera expected on the iPhone 17 Air, and it seems it will sit on the left side of the phone's back, as Apple's cameras always have. But the raised camera panel which is one of the biggest design changes in the iPhone 17 series stretches across the width of the phone. It's a controversial look that is most noticeable on the one-camera slim phone. That said, it looks more persuasive in this dummy than has previously been seen. And then there's the profile: turn the phone sideways and this dummy shows how strikingly thin it is. Majin Bu has also posted more images, including a group shot of the entire iPhone 17 series, showing them in a pale color, silver, perhaps. Seeing them together shows a distinct and consistent design language which, did we but know it at the time, began with the iPhone 16 in September 2025. All models apart from iPhone 17 base model have a camera panel that stretches the width of the phone. It again makes one ask why the panel is that wide on the slim model with its single camera. My only guess is to separate it in design from the iPhone 17 and iPhone 16e, which will still be on sale. Plus, it seems it's going to be a pricier model than the iPhone 17, so the slim iPhone needs something else to set it apart. Plus, of course, with a phone that thin, you may need to use some of the camera bump to squirrel away components for which there's otherwise no space. By the way, if you look at the dummies, you know that's what you're looking at: the leaf at the top of the Apple logo is missing on the supposed iPhone 17 Air. I think it's pretty clear that that's not a design change we should be expecting. Forbes Microsoft Confirms Windows 11 Automatic Deletions: Take Action Now To Protect Yourself By David Phelan
Yahoo
an hour ago
- Yahoo
Wheat Popping Higher into Friday
The what market is trading with gains across the three markets on Friday morning. Wheat posted weakness across the three markets on Thursday, as the reversion lower is extending. Chicago SRW wheat was 7 to 8 cents lower at the close. KC HRW contracts were 5 to 6 cents in the red. MPLS spring wheat was down 2 to 5 cents. USDA's Export Sales report showed 255,208 MT of wheat sold in the week of June 19, falling short of analysts estimating 300,000 to 600,000 MT. That was down 40.26% from last week and 61.75% below the same week last year. The largest buyer was Japan at 93,600 MT, with 83,200 MT sold to Mexico. Coffee Prices Move Higher as the Dollar Falls Coffee Prices Rally as the Dollar Falls Cocoa Prices Jump as Ghana Cuts its Cocoa Production Forecast Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Russia's wheat crop is estimated to total 84.53 MMT this growing season, according to IKAR, which was up 0.7 MMT from the previous estimate. A South Korean mill purchased a total of 82,000 MT of US wheat in 2 tenders overnight. The European Commission estimates the EU wheat production for 2025/26 at 128.2 MMT, a 1.6 MMT increase from the estimate last month. Stocks were down 0.71 MMT to 8.34 MMT. World wheat production was raised 2 MMT by the International Grains Council to 808 MMT, with consumption up 1 MMT. Ending stocks for 2025/26 were up 2 MMT to 264 MMT. Jul 25 CBOT Wheat closed at $5.21, down 7 1/4 cents, currently up 4 1/2 cents Sep 25 CBOT Wheat closed at $5.36 3/4, down 7 3/4 cents, currently up 5 1/4 cents Jul 25 KCBT Wheat closed at $5.18 1/4, down 6 cents, currently up 4 1/4 cents Sep 25 KCBT Wheat closed at $5.33 3/4, down 5 1/2 cents, currently up 4 1/2 cents Jul 25 MGEX Wheat closed at $6.06 3/4, down 4 3/4 cents, currently up 2 3/4 cents Sep 25 MGEX Wheat closed at $6.25 1/2, down 2 1/2 cents, currently up 7 cents On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
