Apple shares fall 3.3%, iOS18 with Apple Intelligence launches
Apple saw more than $116bn (£88bn) wiped off its valuation in early trading after analysts warned about weaker-than-expected demand for its new iPhone as its push into artificial intelligence disappointed fans. Shares in the world’s most-valuable company fell by 3.3pc after the assessment of pre-order sales of the new iPhone 16 series from Ming-Chi Kuo, an analyst at TF International Securities. The device will include artificial intelligence (AI) tools, such as finding reviews and menus when pointing the camera at a restaurant. Telegraph
Get your iPhone ready: Apple’s new iOS 18 software update is out later on Monday. The refreshed version of Apple’s mobile operating system is bursting with new features and improvements. The headline feature Apple has been promoting for iOS 18 is a powerful new suite of generative AI tools, branded as Apple Intelligence. These new tools can create weird and wonderful emojis on the fly, summarise emails and rewrite them, prioritise notifications, and erase people and objects from photos. Standard
Sales of some new hybrid cars will be allowed until 2035, the government has said, but it denied that this was a change to a manifesto pledge to ban petrol and diesel cars from 2030. Ministers plan to reinstate a 2030 ban on new cars that run solely on petrol and diesel that was dropped by Rishi Sunak a year ago, with a decision yet to come on which hybrid cars will be allowed. The Guardian
TikTok will start making its case on Monday against a law that will see it banned in the US unless Chinese owner ByteDance sells the social media app within nine months. The measure – signed into law by President Biden in April – has been prompted by concerns that US users’ data is vulnerable to exploitation by China’s government. TikTok and ByteDance have always denied links to the Chinese authorities and have described the law an “extraordinary intrusion on free speech rights.” BBC
Big tech has made some big claims about greenhouse gas emissions in recent years. But as the rise of artificial intelligence creates ever bigger energy demands, it’s getting hard for the industry to hide the true costs of the data centers powering the tech revolution. According to a Guardian analysis, from 2020 to 2022 the real emissions from the “in-house” or company-owned data centers of Google, Microsoft, Meta and Apple are likely about 662% – or 7.62 times – higher than officially reported. The Guardian
Electric vehicles (EVs) are losing value at an “unsustainable” rate as a slowdown in consumer demand sends used car prices tumbling, leasing companies have warned. The British Vehicle Rental & Leasing Association (BVRLA) warned that so-called fleet operators, such as car leasing firms and rental companies, are having to swallow large losses when reselling EVs because of “accelerated, exceptional depreciation”. In most cases, these companies buy new cars and own them for three years before selling them. Telegraph
Elon Musk has deleted what he now claims was a “joke” about how “no one is trying to assassinate” President Joe Biden or Vice President Kamala Harris following the second attempt on Donald Trump’s life on Sunday. The Tesla CEO, whose companies hold millions of dollars in government contracts, removed his post on X following fierce backlash over his comments. On Sunday afternoon, Secret Service agents fired on a suspected gunman aiming an AK-47-style rifle through the fence at Trump’s West Palm Beach golf resort. Independent
