Finance · Euroglobal New
Seven years after Samsung introduced its first foldable phone, Apple unveiled the iPhone Duo, its first foldable device. While marketing highlighted features like dual screens, a fingerprint sensor, and a titanium case, the main focus was on the crease visibility. Social media discussions centered on how noticeable the fold was, screen differences in the crease, and durability over multiple opens. The consensus was that the crease was present but less visible. Alongside the Duo, Apple released new iPhones, watches, and AirPods. The iPhone 18 Pro and Max are priced $100 more than last year’s models, while the foldable Duo starts at $1,999.
Less than a month after Treasury Secretary Scott Bessent announced doubling bond buybacks to $4 billion, the U.S. Treasury announced a $6 billion buyback operation, tripling the normal amount. This operation, scheduled for Thursday, targets 10- and 20-year notes. While intended to maintain liquidity in government debt markets, the measure has been seen as an effort to cap Treasury yields, which had surged to levels not seen since the 2008 financial crisis. However, market reaction was negative, with yields rising further and volatility observed in long-dated securities. Elevated yields, combined with surging oil prices, led to a decline in stocks, with all three major indexes dropping for a third consecutive day. Brent crude oil prices crossed $100 per barrel, reaching $101.21, while West Texas Intermediate futures rose 3.3% to close at $96.05, marking the highest close since May.
In the midst of market jolts due to the Hormuz conflict, U.S. President Donald Trump’s energy portfolio surged by millions. Between February 27 and August 31, his nine largest oil and gas holdings gained between $1.5 million and $4.4 million, according to CNBC’s analysis of his financial disclosures and corporate reports. While no evidence suggests Trump or his managers traded on advance knowledge of his policies, the filings highlight his multimillion-dollar stake in an industry directly affected by his administration’s decisions. Trump stated on Wednesday that elevated oil prices due to the Iran war will not drop until after the midterm elections in November, acknowledging the Iran conflict’s prolonged nature.
Finally, an AI researcher, Jacob Coxon, who resigned from Anthropic, accused the company and rival OpenAI of acting irresponsibly, raising concerns about AI’s rapid development. Coxon warned that AI could pose a threat to humanity by the end of the decade, emphasizing the potential for superhuman systems to revolutionize fields and acquire power. This development sparked widespread social media discussion about AI’s risks.
Source: CNBC
