Core Viewpoint - Apple is shifting its manufacturing strategy to mitigate the impact of tariffs imposed by the Trump administration, with most iPhones being sourced from India and iPads from Vietnam, aiming to avoid significant price increases for American consumers [1][10]. Financial Performance - For the first three months of the year, Apple reported revenue of £71.8 billion and earnings of £18.6 billion, surpassing analyst expectations [4]. - The company anticipates an additional cost of £677 million in the current quarter due to tariffs, assuming no changes in Trump's policies [2]. Market Dynamics - High demand for iPhones was noted during the period, likely driven by US consumers making purchases before the new tariffs took effect [4]. - The full impact of any panic buying will be assessed in Apple's results for the April to June period [4]. Supply Chain and Manufacturing Changes - Apple's previous reliance on Chinese factories for iPhone production made it more vulnerable to the effects of the trade war compared to other companies [5]. - Devices sold outside the US will continue to be manufactured in China, while the company is diversifying its supply chain to reduce risks associated with having all production in one location [10]. Stock Market Reaction - Following the announcement of reciprocal tariffs, Apple's stock experienced a significant decline of 23%, resulting in a loss of £582 billion in market value, although it has since recovered slightly [7]. - Despite the recovery, the stock remains 5% lower than before the tariffs were announced [7]. Sales Impact - Sales in China fell by 2.3% between January and March, influenced by the growing tensions between Washington and Beijing [7].

Tesla's board members have reportedly started their search for someone to replace Elon Musk as CEO.Several executive search firms were approached to find a successor around a month ago, the Wall Street Journal reported. It said the current status of the succession planning for the electric car-maker wasn't known. Please use Chrome browser for a more accessible video player 1:36 Musk jokes about attacks on Tesla cars Musk's net worth has plunged and Tesla stocks have fallen amid a public backlash over h ...

Core Points - Apple and Meta have been fined millions of euros by the EU for violating digital competition rules [1][2] - Apple received a fine of €500 million (£428 million) for preventing app developers from directing users to cheaper alternatives outside the App Store, while Meta was fined €200 million (£171 million) for requiring users to choose between seeing ads or paying to avoid them [2] - These fines are the first issued under the EU's Digital Markets Act (DMA), aimed at enhancing competition in the digital economy and preventing monopolistic practices by Big Tech [3] Company Responses - Apple has claimed that the EU is "unfairly targeting" the company, stating it has invested significant resources to comply with the new regulations [5] - Meta's chief global affairs officer criticized the EU's actions, suggesting that the Commission is trying to disadvantage successful American companies while allowing Chinese and European firms to operate under different standards [5]

Group 1 - Elon Musk plans to reduce his involvement with Donald Trump's Department of Government Efficiency (Doge) and focus more on Tesla starting in May [1] - Tesla's first-quarter profits dropped by 71% to $409 million, attributed to declining sales and the impact of President Trump's tariffs [1] - Revenue for Tesla fell by 9% to $19.3 billion in the first quarter, which was below Wall Street's expectations [2] Group 2 - Tesla's stock has decreased by over 40% this year, although it experienced a slight increase in after-hours trading [2] - Concerns regarding Musk's ability to dedicate sufficient attention to Tesla have contributed to the stock's decline [2] - Shareholders have raised questions about Musk's role as CEO, indicating a focus on leadership stability during an upcoming investor call [3]

Incident Overview - A Delta Air Lines plane experienced an engine fire while preparing for takeoff at Orlando International Airport, leading to the evacuation of nearly 300 passengers [1][5] - The aircraft, an Airbus A330, was bound for Atlanta, covering a distance of over 400 miles with an estimated flight time of around one hour and 40 minutes [5] Emergency Response - Passengers were seen evacuating the aircraft using escape slides as flames and smoke were reported from the right engine [2][6] - The Federal Aviation Administration (FAA) announced an investigation into the incident [5] Company Actions - Delta Air Lines confirmed that its flight crews followed proper evacuation procedures upon observing flames in the engine [5] - Maintenance teams will inspect the aircraft, and additional aircraft will be provided to assist affected customers in reaching their destinations [7] Industry Context - This incident is part of a series of high-profile aviation events raising safety concerns in the US aviation industry [9] - Previous incidents include an engine fire on an American Airlines jet and a mid-air collision resulting in fatalities [10]

US stock markets suffered more significant losses on Wednesday, with stocks in leading AI chipmakers slumping after firms said new restrictions on exports to China would cost them billions. It comes as China remains the focus of Donald Trump's tariff regime, with both countries imposing tit-for-tat charges of over 100% on imports. The US commerce department said in a statement it was "committed to acting on the president's directive to safeguard our national and economic security". Please use Chrome browser ...

Core Insights - Spotify is experiencing a significant outage affecting many users who are unable to load the app [1] - The company acknowledged the disruption on social media, stating they are investigating the issues [1] - Downdetector reported thousands of outage reports and user comments expressing frustration [1] Company Response - Spotify confirmed awareness of the issues and is actively checking them out [1] - User reactions on social media indicate a strong demand for the service, with comments highlighting the urgency for background music [1] User Impact - The outage has led to a considerable number of reports on Downdetector, indicating widespread user impact [1] - Comments from users reflect a mix of frustration and humor regarding the service disruption [1]

It was going to be the revivifying event the video games industry desperately needed - instead, thanks to Donald Trump's tariffs, the launch of the Nintendo Switch 2 is experiencing a troubled birth. Barely had Nintendo announced the pre-order date and price point of the hotly awaited new handheld console when the US president slapped tariffs on China and Vietnam, among others, prompting the Japanese gaming giant to immediately suspend US pre-orders of the Switch 2. Today, Nintendo invited Sky News to be a ...

The CEO of JPMorgan Chase has said Donald Trump's sweeping tariffs are "likely" to spark a recession. Jamie Dimon is one of the most prominent voices in corporate America and has regularly been consulted by administrations during times of crisis. Tariffs latest: US-China trade war escalatesA recession is when there are at least two six months of economic contraction in gross domestic product (GDP), the total value of goods and services produced over a specific period.Appearing on US channel Fox Business, Mr ...

Group 1 - Meta has updated Instagram to require parental permission for users under 16 to livestream and disable a nudity-blurring feature in messages [1][2] - The Teen Accounts system is being expanded to Facebook and Messenger, following the initial launch for Instagram in September [2][3] - Approximately 54 million teenagers globally have transitioned to Teen Accounts, with the new changes first implemented in the UK, US, Canada, and Australia [3] Group 2 - Existing safeguards for teen users include private accounts by default, blocking messages from strangers, limits on sensitive content, reminders for screen breaks, and notification restrictions during bedtime [3] - Increasing regulation, such as the UK's Online Safety Act, is pushing platforms to enhance parental controls and protect children from harmful content [6] - Concerns over end-to-end encryption in messaging apps have led to criticism from organizations like NSPCC, which argues it complicates efforts to combat child abuse [7]