The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The race is underway to find a vaccine that can control African swine fever, a highly contagious and deadly viral infection ravaging China's hog population. There is currently...Agricultureread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
Foxconn sales dipped 17.7% in the first quarter of 2019 to $637.26 million.
Japan Display said Wednesday that mobile display sales, which make up 73.3% of its total sales, were down 17.2% year over year. Japan Display blamed its sales decline on customers moving to OLED screens in flagship phones, instead of using traditional LCD screens. It also pointed to "the slowdown of China's and the global smartphone market" and the "prolonged life cycle of smartphones." Japan Display is asking for 1,000 employees to retire early by the end of the second quarter.
The global slowdown in phone sales has been attributed to rising costs in phone prices. With premium phones now costing more than $1,000, customers are holding on to devices longer. Bernstein's Toni Sacconaghi said in February that iPhone owners are now hanging on to phones for three or four years. Research firm IDC said in February that 2018 was the "worst year ever" for smartphone sales, with shipments falling 4.1%.
Apple iPhones probably won't be much cheaper in the future, either. Earlier this week, J.P. Morgan said Apple would need to increase the cost of iPhones by 14 percent to offset the next round of tariffs, unless it absorbs the costs itself.
In an effort to offset the slowing sales, Apple has put a bigger focus on its services business with a new premium Apple News+ subscription offering, a new Apple TV Channels platform that rolled out this week that will provide it a larger cut of subscription revenues from services like HBO and Showtime, and an Apple TV+ library of original content that will roll out this fall.