Apple considers raising iPhone prices, WSJ reports
FILE PHOTO: An attendee holds two iPhones 16 as Apple holds an event at the Steve Jobs Theater on its campus in Cupertino, California, U.S. September 9, 2024. REUTERS/Manuel Orbegozo/File Photo
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
28 minutes ago
- The Star
China's factory activity returns to growth in June, Caixin PMI shows
A worker on the production line at the Shenzhen Kate Plastic Products Co. toy factory in Shenzhen, China, on Wednesday, June 4, 2025. Photographer: Qilai Shen/Bloomberg BEIJING: China's factory activity returned to expansion in June, supported by an increase in new orders that lifted production, a private-sector survey showed on Tuesday. The Caixin/S&P Global manufacturing PMI rose to 50.4 in June from 48.3 in May, surpassing analysts' expectations in a Reuters poll. The 50-mark separates growth from contraction. The reading contrasts with China's official PMI on Monday that showed factory activity shrank for a third straight month. But new export orders in both surveys remained in negative terrain in June, suggesting potential challenges for exports in the second half of the year. "Overall, manufacturing supply and demand recovered in June," said Wang Zhe, economist at Caixin Insight Group. "However, we must recognise that the external environment remains severe and complex, with increasing uncertainties. The issue of insufficient effective demand at home has yet to be fundamentally resolved." Overall new orders increased in June after falling in May, with factory bosses citing an improvement in trade conditions and promotional activities to boost sales, the Caixin survey showed. That drove factory output to the highest reading since November 2024. Due to higher new work inflows and a reduction in workforce capacity, accumulation of backlogged orders was recorded for the first time in three months. Employment across the Chinese manufacturing sector contracted in June amid both resignations and redundancies, according to respondents. Some smaller exporters had to sell at a loss or to cut wages and jobs to stay afloat. Average output charges fell at the most pronounced pace since January, which in turn was supported by lower input costs. Export charges continued to increase, however, driven by rising shipping and logistics costs. The level of business confidence eased from May and remained below the series long-run trend. Goldman Sachs economists said the upcoming July Politburo meeting, a key meeting to discuss the economy, is unlikely to result in major stimulus measures, as policymakers appear satisfied with the economic performance so far this year. In trade developments, U.S. Treasury Secretary Scott Bessent announced last week that the United States and China had resolved issues surrounding shipments of Chinese rare earth minerals and magnets, building on a deal reached in May in Geneva. China's Commerce Ministry said on Friday export applications for controlled items would be approved in accordance with the law. - Reuters
The Star
28 minutes ago
- The Star
Oil edges down on easing Middle East risks but gains for a second month
HOUSTON: Oil prices edged down on Monday as investors weighed easing Middle East risks and a possible OPEC+ output increase in August. Both Brent and U.S. crude oil benchmarks posted their biggest weekly declines since March 2023 last week but rose for the second consecutive month, gaining around 6% and 7% respectively. Brent futures settled down 16 cents, or 0.2%, to $67.61 a barrel and expired on Monday. The more active September contract ended at $66.74. U.S. West Texas Intermediate crude settled down 41 cents, or 0.6%, at $65.11 a barrel. A 12-day war that started with Israel targeting Iran's nuclear facilities on June 13 sent prices above $80 a barrel before sliding back to $67. "This ceasefire that was quickly engineered appears to be holding up, so the supply risk premium that was in place is continuing to be withdrawn in a rapid fashion," said John Kilduff, a partner at Again Capital. Meanwhile, U.S. crude oil production hit a record 13.47 million barrels per day in April, up from 13.45 million bpd in March, according to data released by the Energy Information Administration as part of its Petroleum Supply Monthly series. The record U.S. oil production was adding to the bearish sentiment on Monday, Kilduff added. OPEC+ SET TO BOOST PRODUCTION IN AUGUST Four OPEC+ sources told Reuters last week that the group was set to boost production by 411,000 bpd in August after similar increases for May, June and July. If the increase is agreed, it would bring the total rise in supply from OPEC+ to 1.78 million bpd so far this year, equivalent to over 1.5% of total global demand. "I believe this potential supply pressure remains under-priced, leaving crude vulnerable to further weakness," said Ole Hansen, head of commodity strategy at Saxo Bank. The oil producer group is set to meet again on July 6. Some market tightness remains despite rising output, however, said Giovanni Staunovo, analyst at UBS. A Reuters survey found that OPEC oil output rose in May, but gains were limited by cuts by countries that had previously exceeded their quotas. Saudi Arabia and the United Arab Emirates, meanwhile, made smaller increases than allowed. Kazakhstan, which has persistently exceeded quotas set by OPEC+, may exceed its previous oil production forecast by around 2% this year following an upgrade to output at its largest Caspian oilfields, Reuters calculations, based on data from state-owned energy company KazMunayGaz, showed. A survey of 40 economists and analysts in June forecast Brent crude will average $67.86 per barrel in 2025, up from May's $66.98 forecast, while U.S. crude is seen at $64.51, above last month's $63.35 estimate. - Reuters
New Straits Times
an hour ago
- New Straits Times
Musk's xAI raises US$5bil each in fresh debt and equity, Morgan Stanley says
KUALA LUMPUR: Elon Musk's xAI has completed a US$5 billion debt raise alongside a separate US$5 billion strategic equity investment, Morgan Stanley said on Monday, as the startup looks to expand its AI infrastructure through data centres amid intensifying competition in the industry. The US$5 billion raised in debt consists of financing of secured notes and term loans, Morgan Stanley in a statement posted on social media platform X. The deal was oversubscribed and included prominent global debt investors, it added. Reuters earlier reported that xAI was on track to close on a US$5 billion debt raise led by Morgan Stanley, despite tepid investor demand. In a separate report, Bloomberg News said that xAI was in talks to raise US$4.3 billion through an equity investment on top of its US$5 billion debt funding plans. XAI did not immediately respond to a Reuters request for comment outside regular business hours. The proceeds will support xAI's continued development of AI solutions, a data center and its flagship Grok platform, the bank said. Apart from selling debt, xAI has also been in talks to raise about US$20 billion in equity, which would value the company at more than US$120 billion, with some investors placing valuations as high as US$200 billion.
