Apple unveils iPhone 16 with AI options

Good morning. Immediately we’re masking:

• Rising fears about Chinese language deflation

• A deal to purchase Japan’s most eccentric Hawaii-themed resort

• Tonight’s US presidential election debate

However first, Apple has unveiled the iPhone 16, which chief government Tim Prepare dinner mentioned was the primary of its smartphones to be “designed from the ground up” for synthetic intelligence.

The iPhone 16, which is able to go on sale September 20, comes because the tech big makes an attempt to ascertain itself as a participant within the AI house. It’s searching for to revive flagging iPhone gross sales with new generative AI options in its newest working system, iOS18.

“There is a growing feeling that smartphone updates have become a bit boring,” mentioned Leo Gebbie at CCS Perception.

“Apple is not immune to this trend and is betting on software and AI to breathe new life into its most important product to reignite consumer interest and drive upgrade purchases.”

Wall Road analysts count on gross sales of the corporate’s flagship product will get a lift subsequent yr because of the brand new options. Listed below are the AI instruments coming to the iPhone — plus extra on the chip that makes it doable.

• Tech sector weak point: Enthusiasm about AI masks weak point throughout a lot of the know-how sector, with many firms “still in a recession” following a slowdown that began in 2022, in line with traders and evaluation of current monetary experiences.

Right here’s what else I’m maintaining tabs on right this moment:

• Financial knowledge: China publishes August commerce figures and Malaysia experiences manufacturing gross sales and its industrial manufacturing index for July.

• Huawei’s new telephone: The Chinese language tech big is about to unveil its triple-folding smartphone, the Mate XT, a day after Apple launched its newest iPhone. (Reuters)

5 extra high tales

1. China’s producer costs slid in August, boosting fears that deflationary forces are taking root on this planet’s second-largest economic system. Final month’s fall in producer costs — 1.8 per cent yr on yr — was essentially the most in 4 months, dragged down by metal, agriculture and different sectors. Right here’s why economists are involved.

2. India’s Adani Group has warned Bangladesh’s new authorities that its backlog of overdue funds has turn out to be “unsustainable”, because the nation falls $500mn behind on dues from a contentious energy challenge. The expensive offers negotiated underneath Sheikh Hasina have left the interim authorities “firefighting”, mentioned the nation’s high power official.

3. Non-public fairness group Fortress has agreed a $100mn deal to purchase Spa Resort Hawaiians, Japan’s oldest and most eccentric scorching springs resort which sits simply 50km from the stricken Fukushima nuclear plant. The Fortress bid comes with plans to speculate a additional $70mn in upgrades to the Hawaiian-themed lodge, golf and waterslide complicated — a favorite vacation spot of Japanese households for the reason that Nineteen Sixties.

4. The US Division of Justice’s newest antitrust trial in opposition to Google started yesterday, with the DoJ accusing the corporate of operating a large advert tech monopoly that minimize off potential rivals and drove up prices for publishers and advertisers in an try and maximise earnings. The trial comes because the tech big contends with a landmark loss in a separate justice division antitrust case in opposition to it over search.

• Extra US information: Donald Trump is escalating his threats to extend tariffs on imports if he wins a second time period within the White Home, reviving fears of renewed commerce wars that hit the worldwide economic system throughout his presidency.

5. HSBC’s high executives have mentioned a cost-cutting plan to merge its industrial and funding banking models, bringing collectively two of its three divisions. A merger could be a big early transfer by new chief government Georges Elhedery. Right here’s what we all know in regards to the proposal.

The Large Learn

Introduced in 2019, the EU’s sprawling Inexperienced Deal local weather legislation goals to succeed in internet zero emissions by 2050 and rewire the bloc’s economic system into one based mostly on recycling, reuse and longevity. But it surely has additionally turned out to be a bureaucratic machine that has spawned reams of laws that companies are struggling to implement, and even perceive.

We’re additionally studying . . . 

• US election: Kamala Harris badly wants a breakthrough in tonight’s debate to revive momentum to her marketing campaign, writes Gideon Rachman.

• Cost fraud: New UK guidelines that oblige banks to compensate scammed clients are a missed alternative to deal head-on with a rampant new sort of crime, writes Patrick Jenkins.

• Automotive-free Olympics?: Los Angeles loves its vehicles, however forward of the 2028 Olympics, town has quietly turn out to be the chief in US public transport funding.

Chart of the day

For the reason that international monetary disaster of 2008, residence costs adjusted for inflation are up about 2 per cent in Europe and 25 per cent in Japan — however greater than 50 per cent within the US, writes Ruchir Sharma.

Take a break from the information

From international conflicts to the local weather disaster, it’s laborious to be optimistic in regards to the world today. However Sergei Guriev, dean of the London Enterprise Faculty, says there are causes to be hopeful.

Further contributions from Tee Zhuo and Melody Abike Adebisi