National / International News
Apple releases third-quarter earnings Tuesday and analysts will be looking for a big bump in iPhone sales. They'll also be looking for hints about how the Apple Watch is doing.
Last year during the third quarter, Apple sold 35 million iPhones. This year, analysts predict somewhere in the neighborhood of 50 million.
If they're right, "This could be the first sign that the flagship Android phones are effectively done," says Andrew Uerkwitz of Oppenheimer, pointing out that phones that cost as much as the iPhone, like Samsung's Galaxy 6, don't sell nearly as well.
Apple has said it won't break out quarterly sales numbers for the Apple Watch, so analysts will be looking to other revenue categories, such as "other," for clues.
The Baccarat Hotel and Residences is one of Manhattan’s newest hotels. As its name suggests, it is dripping in crystal, with enormous chandeliers, ornate vases — even its walls are made of what looks like undulating crystal glass.
It is the latest in a rash of new hotels that are opening across New York City, and the country. From Houston to Miami, cranes are busy erecting new hotels. In fact, over the past year, hotel construction is up 21 percent, according to data from STR, which analyzes the industry.
With so much competition, not to mention sites like AirBnB, hotel rates are staying relatively low. That’s welcome news not just for Americans looking to take a trip this summer, but also for Europeans, who have been hard hit by the strong U.S. dollar.
“The U.S. hotel industry is doing either well or really well, depending on where you’re at,” said Jan Freitag, a senior vice president for STR. “We broke records last year, we are breaking records this year. We have more rooms available than ever, but we’ve also sold more rooms than ever and generated more revenue than ever.”
For Europeans, this hotel boom couldn’t come at a better time. The dollar has been strengthening against the euro in recent months, diminishing their spending power and making America costlier than it has been in years.
“It’s getting more expensive,” said Dutch tourist Danny Engels, who was wandering through Times Square with his family recently. He had hoped to buy an Apple Watch, but decided against it because of the exchange rate.
But while Engels has curtailed his spending, he did not cancel his trip. Foreigners typically plan their trips months in advance, so unless it stays expensive for a sustained period, Europeans will continue flocking here, hotel experts predict. And that is good news, as there will certainly be enough hotel rooms to house them.
It’s been five years since the Dodd-Frank Act became law, with the goal of preventing the chaos of the 2008 economic crisis from happening again.
But the question whether it’s worked is just as polarizing as the law itself was back then. The law affects Wall Street, banks, whistleblowers, consumer protection, and other sectors of the financial industry.
Michael Greenberger, a law professor at the University of Maryland, says there have been flaws in the implementation of the law, but “the dangerous trading, to the extent Dodd-Frank reaches it and controls it, has been substantially mitigated because of the fact that it’s not a dark market anymore.”
In order to mitigate that “dangerous trading” that led to the 2008 market crash, the Securities and Exchange Commission had to write lots of new rules, and the agency isn’t done. Richard Williams of the Mercatus Center says the sheer number of new rules is too big a burden, particularly for banks. He says that makes it harder for banks to lend.
“I don’t think anybody knows precisely what this is going to do to the financial sector," he says.
The SEC says all those rules are making the financial markets stronger and more resilient.
That's how much Toshiba profits have been inflated over several years, according to an independent inquiry. On Tusday, CEO Hisao Tanaka and several other executives resigned in light of the findings. As Reuters reports, the scandal comes at a time when Prime Minister Shinzo Abe is trying to rebuild the country's reputation in the global financial market.5 years
That's how long it has been since the Dodd-Frank Act became law. But even though it's been around for a while, that doesn't mean the Securities and Exchange Commission is done revising and adding new rules. It leaves some experts worried that too many rules will burden banks from lending.21 percent
That's how much hotel construction has grown over the past year, according to data from STR. With this boom in competition, not to mention Airbnb, rates for hotel rooms have stayed low — a welcome development for Europeans visiting the U.S., as the dollar remains strong against the euro.$55
That's how much Star Wars superfan Ken Landrum charged per file to re-create his 40-piece, 3-D printed Stormtrooper gun. By offering his design to the public, he is effectively offering merchandise eight months before the next Star Wars film hits theaters, and five months before the official wares from the movie are offered in Disney stores. The Wall Street Journal takes a look at what the era of home 3-D printing might mean for Hollywood merchandising.£20
That's the value of the note which will get a bit of a face lift in the UK — for the past two months, the Bank of England accepted nominations from the public of British visual artists they thought should be featured on the new note. Among the nominees are Alexander McQueen, Beatrix Potter, and Marie Tussaud. Check out the full list of nominees here. From this list, 3-5 finalists will be chosen by an advisory committee, from which the Governor will pick the face of the new £20 note in spring 2016.
The Romanian region is the home of Dracula, but less than 2 percent of the people donate blood.
After the Angels had their first game rained out in 20 years, they called in the helicopter to dry out the field.