Stocks fell Friday as relations between the US and China were tested further, and after a handful of companies reported quarterly results that disappointed Wall Street. Each of the three major indices logged weekly losses by the end of the session, and the Nasdaq posted its first back-to-back session of losses in 50 days.
China on Friday ordered that the US close its consulate in the populous city of Chengdu, in response to the Trump administration’s directive to force Beijing to shut down its consulate in Houston earlier this week.
Meanwhile, declines in the 30-stock Dow came as shares of Intel and American Express dropped Friday morning, after the companies reported disappointing developments in the second-quarter results. Intel (INTC) warned in earnings results Thursday evening that it faced another production delay for its advanced chips, with its new 7-nanometer chips now expected for delivery in late 2022
It was billed as one of the most significant changes in Apple’s direction for 20 years.
But on this week’s Tech Tent we ask whether the move to abandon Intel and rely on its own chips will really change anything for Apple’s customers.
There was much that was familiar about the opening keynote at this year’s Worldwide Developers Conference (WWDC).
Presenter after presenter took to the stage at Apple’s Cupertino HQ to tell us they were “so excited” to show us some minor software innovation, whether it was memojis with face masks or an Apple Watch feature which times you while you wash your hands.
But this year’s event was very different in two ways.
Nobody travelled to California – the developers’ jamboree was a virtual event this year. And the keynote ended with some really big hardware news announced by Tim Cook, in what he called a
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