Categories
Business

Ethereum and Ripple are exploding higher thanks to the growing interest in cryptocurrencies that lifted Bitcoin above $18,000 | Currency News | Financial and Business News

Yuriko Nakao/Getty Images

  • Ethereum and Ripple are soaring, echoing the powerful rally in Bitcoin, as mass interest in cryptocurrencies picks up steam.
  • Ethereum has jumped almost four-fold this year to just below $600, although this is still short of its record $1,500 in January 2018.
  • The price of smaller crypto rival Ripple has hit its highest since mid-2019, having doubled in value in this month alone.
  • This growing interest raises red flags, because many people are pouring in money into cryptocurrencies without really understanding how they work, which could lead to several mistakes and lost money, a researcher said.
  • Visit Business Insider’s homepage for more stories.

Bitcoin’s growing reputation as an inflation hedge is boosting the price of other cryptocurrencies. Ethereum, the second-largest cryptocurrency platform in the world, rose by more than 6% to $597 on Monday, its highest since mid 2018. 

Ethereum is still well below its all-time high of about $1,500 recorded in January 2018, but its price has increased four-fold since March 2020, when the pandemic brought global money markets to a grinding halt. Smaller rival Ripple’s price has doubled in the month of November alone. 

The sudden price surge could be explained in large part because of Bitcoin’s massive rally this year. The digital token is up 160% on the year and was trading around $18,632 on Monday, near three-year highs.

Markets Insider

While both crypto assets have risen massively in price, their market capitalization is still dwarfed by Bitcoin. Ethereum represents about $40.6 billion in market cap, Ripple stands at about $48.5 billion, while Bitcoin touched an all-time high of $336 billion last week.

Michael Sonnenshein, managing director of the world’s biggest crypto fund Grayscale Investments, told Business Insider last week that he believes Bitcoin is the next step in the evolution of money.

As the pandemic continues to quarantine huge swathes of the global population, people are spending more time online, and they’re probably getting more interested in cryptocurrencies like Ethereum, Bernard Meyer, senior researcher at CyberNews.com, said.

Read More: A Wall Street strategist breaks down why bitcoin’s latest surge past $18,000 is sniffing out a major downward spiral in the stock market’s hottest trade

“But because it’s all so technical, they’re probably investing in these cryptocurrencies without really being certain of what they’re doing – which can lead to a lot of mistakes and money lost,” he said.

In the past, a number of high-profile hacking and security breaches resulted in millions of dollars’ worth of bitcoin and other cryptocurrencies being stolen on various platforms. While security across the major trading platforms has tightened up, would-be Ethereum buyers need to make sure they are familiar with their token’s smart contract – a form of account on the Ethereum blockchain that can send transactions across the network.

“If they’re on Ethereum, they’ll be using what’s known as a smart contract to sort of automate the process of sending and receiving payments for users. But these smart contracts can have some big security holes in them,” Meyer said.

Investors need to check the type of smart contract they’re using and whether it has been audited and verified, to limit the chances of something going wrong. 

Read More: GOLDMAN SACHS: Buy these 14 stocks well-positioned to see surging cash flow as the recovering economy upends the market

Source: Read Full Article

Categories
Business

Billionaire investor and Virgin Galactic chairman, Chamath Palihapitiya, discussed Bitcoin, climate change, and Silicon Valley in a recent interview. Here are the 8 best quotes | Currency News | Financial and Business News

Mike Windle/Getty Images for Vanity Fair

  • Investor Chamath Palihapitiya spoke about Bitcoin, climate change, and Silicon Valley’s culture of embracing failure in a RealVision interview released on Friday.
  • The Virgin Galactic chairman and Social Capital CEO also tackled topics such as social media, elite colleges, and virtual education.
  • Scroll down for his eight best quotes from the interview.
  • Visit Business Insider’s homepage for more stories.

Billionaire investor Chamath Palihapitiya discussed Bitcoin, climate change, and Silicon Valley culture in a RealVision interview filmed on November 16 and published on Friday.

The Social Capital chief and Virgin Galactic chairman also spoke about the power of social media, criticized elite colleges, and called for changes to virtual education.

Here are his 8 best quotes from the interview, lightly edited and condensed for clarity:

1. “There is a secret that is hiding in plain sight in Silicon Valley, which is that when you fail, you learn.”

2. “Everybody else points and laughs and mocks failure. Whereas here, it is a real badge of honor.”

3. “You are much more likely to have The Rock, or Kim Kardashian, or Charli D’Amelio be the next great politician, than you are some person who is steeped in policy and who really understands what to do” – discussing how social media redistributes power and influence to those who can harness it.

Read More: Buy these 15 cheap, unheralded stocks that will take off in 2021 thanks to their accelerating sales growth, Jefferies says

4. “The loudest people are never the smartest people.”

5. “Climate change has this incredible feature that it is a Trojan horse for normalization. Nobody has time to be hacking and blowing things up and being extremist when you are focused on economic survival.”

6. “Pragmatist rhetoric is what will get your mother and your grandmother to have Bitcoin in their wallet” – suggesting demand for cryptocurrencies will be more widespread if they’re pitched as hedges or part of a portfolio rather than the ultimate investment.

7. “Places like Harvard and Stanford are really corrosive. They are worthless. They have created a monoculture of check-boxing dipshits. They are money-management institutions that basically dole out power and influence based on acceptance and admittance that just entrench the moneyed class.”

Read More: ‘I still think there’s a long way to go’: A crypto CEO breaks down why he’s bullish on Bitcoin even after its surge back to $18,000 — and shares the other cryptocurrency he thinks is here to stay

8. “They should be getting paid more than an athlete” – calling for the best teachers to take on larger virtual classes while school remains closed and be paid a lot more.

Source: Read Full Article

Categories
Markets

Top Analyst Upgrades and Downgrades: AMD, BigCommerce, EA, Livent, New Relic, SAP, Uber, Yelp, Zillow and More

Stocks managed to post a surprise rally all week, but Friday’s levels were indicated lower, based on profit-taking and election uncertainty combined. Many investors missed out on the recovery from March’s panic selling. With the election still undecided and with many issues still facing America, investors now have to consider looking at new ideas about how to be positioned heading into 2021.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations seen on Friday, November 6, 2020.

Advanced Micro Devices Inc. (NASDAQ: AMD) was raised to Overweight from Equal Weight with a $100 price target at Wells Fargo.

Albemarle Corp. (NYSE: ALB) was reiterated as Outperform and the price target was raised to $120 from $115 at BMO Capital Markets.

American Superconductor Corp. (NASDAQ: AMSC) was downgraded to Hold from Buy at Canaccord Genuity.

Apollo Global Management Inc. (NYSE: APO) was raised to Overweight from Equal Weight with a $51 target price at Morgan Stanley.

Assembly Biosciences Inc. (NASDAQ: ASMB) closed at $15.90 but was indicated down more than 50% at $6.75 on Friday after its business update. Jefferies downgraded the shares to Hold from Buy.

BigCommerce Holdings Inc. (NASDAQ: BIGC) was reiterated as Neutral at Wedbush Securities after earnings. The stock was up 3.3% at $85.34 on Thursday, but Friday’s indications had it down about 1%, with a $94.50 consensus target price.

Diodes Inc. (NASDAQ: DIOD) was downgraded to Equal Weight from Overweight at Wells Fargo.

Electronic Arts Inc. (NASDAQ: EA) was downgraded to Neutral from Overweight at Piper Sandler.

EOG Resources Inc. (NYSE: EOG) was raised to Buy from Neutral with a $65 target price at BofA Securities.

Hawaiian Holdings Inc. (NASDAQ: HA) was named as the Zacks Bear of the Day stock. The firm said that the airlines cannot wait for 2021. Shares last closed at $14.30 and have a consensus price target of $14.13.

Livent Corp. (NYSE: LTHM) was reiterated as Market Perform and its price target was raised to $9.00 from $8.50 at BMO Capital Markets. The stock closed at $11.85 ahead of the call and has a $9.55 consensus target price.

New Relic Inc. (NYSE: NEWR) was downgraded to Underweight from Neutral and its price target was cut to $72 from $77 at JPMorgan. The shares were indicated down 14% at $56.00 on Friday morning, and the prior consensus target price was $70.40.

Realogy Holdings Corp. (NYSE: RLGY) was named as the Bull of the Day at Zacks, which said consumers looking to buy homes in 2020 are not alone. Shares most recently closed at $12.69 and have a consensus price target of $14.50.

Republic Services Inc. (NYSE: RSG) was reiterated as Buy and its target price was raised to $106 from $101 at BofA Securities.

SAP S.E. (NYSE: SAP) was downgraded to Neutral from Buy at Citigroup.

Square Inc. (NYSE: SQ) was reiterated as Buy and its target price was raised to $230 from $190 at Needham.

T-Mobile US Inc. (NASDAQ: TMUS) was reiterated as Buy and its price objective was raised to $155 from $130 at BofA Securities. The stock was indicated up 5.8% at $124.00, with a $140.27 consensus target price, on Friday morning.

Uber Technologies Inc. (NYSE: UBER) was reiterated as Buy and its price objective was raised to $49 from $44 at BofA Securities, and Needham reiterated its Buy rating and raised its price target to $50 from $42 on Friday. The stock closed up 2.37% at $41.96 on Thursday and has a $42.38 consensus price target.

Vulcan Materials Co. (NYSE: VMC) was downgraded to Hold from Buy at Jefferies.

Yelp Inc. (NYSE: YELP) was raised to Outperform from Sector Perform with a $29 target price at RBC Capital Markets.

Zillow Group Inc. (NASDAQ: Z) was last seen up 8.8% at $113.00 based on strong earnings. RBC Capital Markets raised it to Outperform from Sector Perform with a $147 price target. Needham reiterated its Buy rating and raised its price target from $125 to $145.

Goldman Sachs has updated price targets on some red-hot stocks with plenty of upside in the wake of earnings reports.

Thursday’s top analyst upgrades and downgrades included Biogen, Honeywell, Microsoft, Ping Identity, Qualcomm, Verizon Communications and Wendy’s.


Get Our Free Investment Newsletter

I have read, and agree to the Terms of Use

Source: Read Full Article

Categories
World News

Hanson: Elite media and pollsters 'culpable' for erosion of trust in institutions

Fox News Go

No matter who wins the presidential election, Big Tech, the media, professional pollsters and other elites have critically undermined America's institutions, historian Victor Davis Hanson told "Tucker Carlson Tonight" Wednesday.

"I think I'm really worried," Hanson told host Tucker Carlson.

"A constitutional republic relies on more than just law, it has protocols and good-faith tradition. We have been told for three months this was going to be a landslide," he continued. "That was the media mantra every day."

However, Hanson added, despite those repeated asurances, President Trump is not down and out as of yet.

"We go to the pollsters, we think, 'They learned their lesson in 2016, all of their pseudoscientific 90.6 or 84.2," he said. "When it was all over with, they were completely discredited."

Hanson said Americans woke up Wednesday "bewildered" and claimed the mainstream media and other institutions are "culpable" because they conditioned the electorate to expect a landslide Biden victory rather than a tight race.

On Wednesday, the Trump campaign filed lawsuits in Pennsylvania, Michigan and Georgia demanding its observers have "meaningful access" to locations where mail-in and absentee ballots are being processed and counted. In response, Pennsylvania Democratic Gov. Tom Wolf held a fiery press conference during which he repeatedly said he will protect "every vote" in the state.

Later in the interview, Hanson pillored social media giants for their treatment of the president.

"We have a private entity, Twitter's CEO, saying you have to be warned about what the president says when he uses Twitter. People throughout this campaign have been deplatformed and cancelled," he said. "People are saying, it's our property, we can do what we want."

Hanson also took on big banks for pouring millions into out-of-state Senate seats that ended up being Republican holds.

Sens. Lindsey Graham, R-S.C., John Cornyn, R-Texas, and Mitch McConnell, R-Ky., faced well-funded Democratic challengers but emerged victorious nonetheless.

"Here we are sitting tonight, Republicans have a good chance of keeping the Senate," he said. "They have picked up in the House, where we were told it would be impossible, and there is a pathway for Donald Trump to win the presidency. They had none of the help of any of these warped institutions that the left relied on."

Source: Read Full Article

Categories
Business

A split Congress and Biden presidency will be 'excellent' for the economy and stock market, Wharton Professor Jeremy Siegel says

Scott Mlyn/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images

  • Wharton Professor of Finance Jeremy Siegel told CNBC on Wednesday a split Congress and Biden presidency will be ‘excellent’ for the economy and markets.
  • Siegel said that Mitch McConnell will work better with Joe Biden to pass legislation than he did with President Trump.
  • “We’re definitely going to get a stimulus package. We’re going to get an infrastructure package,” he said. “Biden is going to go over and talk to Republicans and they’re going to do it.”
  • Visit Business Insider’s homepage for more stories.

Wharton Professor of Finance Jeremy Siegel told CNBC on Wednesday a divided government scenario will be positive for both the stock market and the US economy. 

“I think Biden is going to win this and I think very definitely the Senate is going to stay Republican and truthfully that combination is excellent for the economy  and it’s excellent for the markets,” Siegel said, as the final outcome of the presidential election remained unclear. 

The revered professor said a Republican Senate Leader Mitch McConnell would work better with Joe Biden to pass legislation than he did with President Trump. In a divided government scenario, the US may still get a stimulus package, but it may not be as large as it would have been if Democrats took control of the White House and both chambers of Congress, he added. 

“We’re definitely going to get a stimulus package. We’re going to get an infrastructure package,” he said. “Biden is going to go over and talk to Republicans and they’re going to do it.”

Siegel said Biden is a “man to compromise,” and will work to pass stimulus legislation. The Republican Senate will also block “any radical tax plan,” he said.

CNBC’s Carl Quintanilla said that historically markets have done better when there is political gridlock, and Siegel agreed. 

“A gridlock doesn’t mean nothing will get done,” said Siegel.

But not everyone on Wall Street agrees with him. Earlier on Wednesday Guggenheim’s chief investment officer said the likelihood of a stimulus being passed declined dramatically once it was clear that a Democratic sweep was no longer the likely election outcome. 

At the time of publication, votes were still being counted in many critical states but early results pointed to a Republican Senate and Democratic House. 

Source: Read Full Article

Categories
World News

Strong Ads and YouTube Drive Alphabet in Major Earnings Beat

Alphabet Inc. (NASDAQ: GOOGL) may have been grilled over antitrust issues in recent days, but now regulators and investors alike get to see its earnings for the third quarter of 2020. The online services giant reported earnings of $16.40 per share and $46.17 billion in revenues.

The consensus estimates from Refinitiv were calling for just $11.29 in earnings per share (EPS) on $42.9 billion in revenue. The long and short of the report is that Alphabet’s revenues rose 14% in total and its gross margin was up a 1-point from a year ago.

Alphabet’s operating margin was shown as 24% based on $11.21 billion in operating income during the third quarter. Google’s core advertising revenues came in at $37.1 billion, and its own properties were assigned $31.38 billion for their revenues.

The parent of Google also announced that its traffic acquisition cost was $8.17 billion. Within its own properties, YouTube broke the $5 billion mark with $5.04 billion in revenues.

Alphabet further cited increased advertiser spending in search and in YouTube, as well as seeing continued strength in Google Cloud and Play.

There was another boost in the company’s cash and short-term securities. Alphabet’s level of $119.67 billion was up from $132.59 billion a year ago.

Sundar Pichai, Chief Executive Officer of Alphabet and Google, said:

We had a strong quarter, consistent with the broader online environment. It’s also a testament to the deep investments we’ve made in AI and other technologies, to deliver services that people turn to for help, in moments big and small.

Here is one recent take on how a breaking up of the Google empire might look if regulators do go after it on antitrust issues.

Alphabet closed up 3.05% at $1,556.88 ahead of the report and its stock was last seen trading up over 6% at $1,661.00 on Thursday. Its 52-week range is $1,008.87 to $1,726.10 and Refinitiv had a $1,762.90 consensus analyst target price.

Source: Read Full Article

Categories
Markets

Tiffany and LVMH discuss price cut to settle deal dispute

Luxury reseller The RealReal doesn’t see Amazon as a threat

The RealReal CEO Julie Wainwright says the demand for luxury items has never faltered despite the coronavirus outbreak.

NEW YORK – U.S. jeweler Tiffany & Co and French luxury goods giant LVMH are in talks to settle their dispute over a $16 billion takeover at a price slightly lower than that initially agreed, sources familiar with the matter said on Tuesday.

Continue Reading Below

TIFFANY LAWSUIT FOR $16B LVMH DEAL FAST-TRACKED FOR JANUARY TRIAL

The negotiations were based on a price in the range of $131-$134 for each Tiffany share, against the $135 price when the deal was first agreed last November.

An agreement at the bottom of that range would save LVMH, led by billionaire businessman Bernard Arnault, about $480 million on the initial $16.2 billion purchase price.

Stocks in this Article

The initial deal ran into trouble last month when the French group said it could no longer complete the transaction by the Nov. 24 deadline.

It cited a French political intervention preventing it from doing so, but also what it described as the jeweller’s “dismal” performance during the coronavirus crisis.

LVMH SAYS IT'S ENDING ACQUISIITON OF TIFFANY & CO.

The two sides are facing off in a Delaware court, with Tiffany seeking to force LVMH to honor the deal. The case is due to be heard in early January.

CNBC earlier reported that the two parties were in indirect talks to settle the dispute.

Both LVMH and Tiffany did not immediately respond to Reuters requests for comment.

Tiffany shares rose almost 5% to $128.78 on Tuesday after reports of a potential end to the dispute.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Louis Vuitton owner LVMH agreed last year to buy Tiffany in its biggest acquisition yet, betting it could restore the U.S. jeweller’s lustre by investing in stores and new collections.

The deal was designed to boost LVMH’s smallest business, the jewellery and watch division that is already home to Bulgari and Tag Heuer, help it to expand in one of the fastest-growing industry sections and strengthen its U.S. presence.

New York-based Tiffany, founded in 1837 and known for its signature pale blue boxes, retains a resonance as the go-to purveyor of engagement rings that only a handful of rivals can match.

Tiffany also said on Monday that it had received the nod from the European Commission for the deal’s completion, thus clearing all regulatory hurdles.

CLICK HERE TO READ MORE ON FOX BUSINESS

Source: Read Full Article

Categories
World News

The Rise and Suppression of #EndSARS

On October 20, Nigerian soldiers were deployed to massacre the country’s own youths, killing at least 12 people who had peacefully assembled to demand accountability for rampant police brutality in Africa’s most populous nation. Before this tragedy, now known as the Lekki massacre, the #EndSARS movement had drawn tens of thousands of Nigerians into the streets for more than two weeks, bringing global attention to a rogue unit of the Nigerian Police Force, called the Special Anti-Robbery Squad, or SARS, which has a documented history of abusing its power. After promising reform, the government increasingly targeted protesters with violence, and last Thursday, the Nigerian president, Muhammadu Buhari, banned public protests amid national curfews. Ahead, everything else you need to know about the rise and suppression of Nigeria’s largest protest movement in generations.

What does police brutality look like in Nigeria?

The #EndSARS movement has taken aim at SARS, a tactical police unit assembled in 1992 to curtail violent crimes such as armed robbery and kidnapping. Over the years, SARS has become the most flagrant source of state violence and corruption that citizens encounter. Youths, the demographic propelling #EndSARS, report harassment, bribery, and even kidnappings by SARS officers, who criminalize young people for “dressing like” prostitutes and Internet scammers, merely because they own smartphones and laptops, drive “flashy” cars, or have tattoos and dreadlocks. A 2020 Amnesty International report, “Nigeria: Time to End Impunity,” documented 82 horrifying cases between January 2017 and May 2020 of SARS extrajudicial killings, extortion, and torture methods, including “hanging, mock execution, beating, punching and kicking, burning with cigarettes, waterboarding, near-asphyxiation with plastic bags, forcing detainees to assume stressful bodily positions, and sexual violence.” Citizen reporting sites including End SARS and The POBIN (Police Brutality in Nigeria) Project score more testimonies of abuse.

What sparked the protests?

On the morning of October 3, two days after Nigeria celebrated 60 years of independence, a tweet by Chinyelugo (@AfricaOfficial2) went viral, sounding an alarm that “SARS just shot a young boy dead.” Hours later, mobile phone recordings with the hashtag #EndSARS began trending, documenting the gruesome scene of the unidentified young man’s lifeless body abandoned on the roadside and citizens pursuing the officers, who they witnessed steal the man’s Lexus SUV.

Over the following days, many more Nigerians shared their own harrowing SARS experiences using the hashtag, which actually made its first appearance as a social media campaign and petition three years earlier, after a viral police murder in December 2017. This time around, with the mobilizing power of popular influencers on Twitter, the online protest moved to the streets. Since October 8, protesters in 26 of Nigeria’s 36 states have organized daily mass demonstrations, vigils, a sit-in of the National Assembly, and blockades of airports and major roads—until the tragedy on October 20.

Source: Read Full Article

Categories
World News

Heat mapping and digital queues: Malls’ plan to fight virus as shops reopen

Save articles for later

Add articles to your saved list and come back to them any time.

The owner of Australia’s largest shopping centre Chadstone, which was at the centre of a devastating COVID-19 outbreak, is introducing pandemic-busting technology such as heat mapping and digital shopping queues at 20 of its Melbourne malls as retailers reopen on Wednesday.

Vicinity Centres, the country’s second-largest retail landlord, says the technology will help counter potential outbreaks after a butcher's shop in the group's Chadstone mall infected dozens of people and seeded a COVID-19 cluster earlier this month that spread beyond the city to Kilmore and Shepparton.

Victorian Police sweep Chadstone Shopping Centre after a small number of people staged an anti-lockdown protest last month.Credit:Chris Hopkins

"Safety remains our top priority and we’ve been working hard, alongside our retailers, to get our Melbourne centres ready for the reopening of retail with thorough COVID-safe plans in place utilising new technologies," Vicinity chief executive Grant Kelley said.

The $6.3 billion ASX listed landlord will use real-time heat-mapping technology to monitor what's happening in the malls so it can quickly respond to congested areas and send teams to keep customers moving.

As well, its new digital queueing system called SocialQ will help retailers safely manage shopper’s movements and reduce capacity and congestion in stores. The recently developed software allows customers to pre-book their shop and virtually queue through the use of QR codes on their mobile phones.

Melburnian Dean Cherny developed the app, which is now being used by hundreds of retailers.

The tech was designed by Melburnian Dean Cherny, who owns in-store music supply company Marketing Melodies. Mr Cherny made the software through Australia's first lockdown in April and has now seen huge success rolling out the product in Victoria.

"At the moment it's going gangbusters," he said. "We're trying to get literally hundreds of retailers signed up by tomorrow."

The software manages online bookings and virtual queues for walk-up customers, with a goal of reducing crowds of shoppers lining up outside stores. If a store is too busy, shoppers can choose to virtually reserve a spot in line and come back later.

SocialQ has signed up prominent retailers and shopping centre owners, including Vicinity, GPT, JB Hi-Fi, Kmart, Target, Country Road, Cotton On and Just Group. More sign-ons, including from major mall owner Westfield, are expected in the coming weeks.

Mr Cherny is hoping the app will become a major boon for retailers managing crowds through the Christmas rush, with the company also able to facilitate contact tracing if future outbreaks do occur.

Vicinity is also rolling out interactive, real-time data showing visitor numbers and forecasts for any given day and the week ahead. The feature, updated every fifteen minutes across nine malls, will help customers plan when and where they shop before they leave home.

“This feature makes it easy to avoid the usual busy periods, such as the middle of the day, and on weekends, and will save time for the most convenient shopping experience,” Mr Kelley said.

Melbourne’s large shopping centres are emerging from the long and harsh coronavirus lockdown battered and bruised.

The crisis wiped up to $1.8 billion from the value of Vicinity’s malls as it gutted foot traffic and forced multiple stores to close, putting significant pressure on rental income from tenants.

Vicinity, which manages and part-owns multiple top-tier malls such as The Glen in Melbourne’s east and Sydney’s The Strand Arcade, said it will station COVID safety officers at entrances to remind visitors to use hand sanitiser on arrival, wear a mask, encourage everyone to practise social distancing and direct traffic flow.

Mr Kelley said the new measures were in addition to a rigorous cleaning and sanitisation program.

Contactless parcel concierge (click and collect) was now available at nine centres across Melbourne, including Altona Gate, Bayside, Broadmeadows Central, Chadstone, DFO South Wharf, DFO Essendon, Uni Hill Factory Outlet, Northland and The Glen, he said.

Business Briefing

Start the day with major stories, exclusive coverage and expert opinion from our leading business journalists delivered to your inbox. Sign up for the Herald‘s here and The Age‘s here.

Most Viewed in Business

Source: Read Full Article

Categories
World News

iPhone 12 release date and pre-order deals as new 5G model on sale TODAY

APPLE'S latest iPhones open for pre-order today, with the 5G gadgets expected to sell out in minutes around the world.

The high tech mobiles will hit buyers' doorsteps next week – here's how to bag yourself one.

Follow our iPhone 12 launch event blog for the latest news and updates

New iPhones – What are they?

The iPhones 12 series make up the latest and greatest smartphones from California tech titan Apple, and are the company’s first to come with 5G connectivity.

Apple boss Tim Cook said: “Today is the day of a new era for iPhone. We’re bringing 5G to iPhone.”

He added that 5G “will bring a new level of performance for downloads and uploads.”

In total, Apple announced four new mobiles during its October 13 “Hi, Speed” event, which was streamed live to fans around the world from its Apple Park headquarters.

They're the 6.1-inch iPhone 12, 6.1-inch iPhone 12 Pro, 6.7-inch iPhone 12 Pro Max and a palm-sized, 5.4-inch iPhone Mini.

New iPhones – Price and release date

Apple is staggering this year's iPhone releases.

Pre-orders for the iPhone 12 and iPhone 12 Pro open on October 16, while the two mobiles will go on general sale a week later, on October 23.

The 12 will ship for £799 in the UK and $799 in the US, while the 12 Pro will go for £999 / $999.

Pre-orders for the beefy 12 Pro Max and midget iPhone Mini will come a little later, launching on November 6.

Those two handsets will ship on November 13, starting at £699 / $699 for the Mini and £1,099 / $1,099 for the 12 Pro Max.

We've put together a handy guide on which iPhone is best for you here.

New iPhones – Where to get them

Pre-orders for the iPhone 12 and iPhone 12 Pro open at 1pm UK time (8am ET) on October 16.

Pre-orders for the iPhone 12 Pro Max and iPhone Mini open at 1pm UK time (8am ET) on November 6.

They'll being going live on Apple's website, and will hit major online retailers like Amazon, Argos and deals site Mobiles.co.uk soon after.

All of the mobiles will be available at Apple's brick and mortar stores on their respective release days, too. As a reminder, that's October 23 for the 12 and 12 Pro, and November 13 for the 12 Pro Max and Mini.

On top of all that, the big-hitting mobile networks in both the UK and US will be stocking the new handsets.

They include Vodafone, EE and Three in the UK, and Verizon, AT&T and T-Mobile in the US.

To bag a pre-order, head to any of their websites or stores shortly before pre-orders open for a chance to bag the phone you want.

Keep your fingers and toes crossed, as the mobiles will be in high demand and so will sell out quickly.

iPhone 12 deals

Apple's new mobiles were only announced on Tuesday, meaning deals are a little short on the ground at the moment.

Most retailers and mobile carriers simply have pages where you can register your interest for one of the phones ahead of their release.

In time, more pages will announce their pricing and push any deals they cook up to tempt option-swamped consumers.

We'll be sure to update this page when those start rolling in.

In the mean time, Apple's finance offer lets you pay over time using an instalment plan.

The payments are made with either Baclays or PayPal and you can choose how much you want to chip in each month.

They're subject to a 14.9 per cent interest rate, though, so you'll end up paying more for the phone than if you bought it outright.

Why an October iPhone release?

Apple detailed its new iPhones during its livestreamed "Hi, Speed" showcase on October 13, 2020.

The company normally unveils new gadgets in front of a raucous crowd at Apple Park during its annual September event.

However, the coronavirus pandemic has forced event organisers to do things a little differently this year.

Apple exec Luca Maestri confirmed in July that, due to the outbreak, the new iPhones would be pushed back by "a few weeks".

That meant the company had to host a rather subdued September event without any iPhone news, with headline announcements including minor updates to the iPad and Apple Watch.

The big guns – a handful of new 5G iPhones – were pushed back to an October 13 showcase to line up with delayed production schedules.

In other news, Apple recently unveiled the latest version of the Apple Watch – its cheapest smartwatch in years.

There's a new iPhone homscreen in iOS 14, and fans are divided over it.

Find out about all the new iOS 14 features here.

What do you think of the new iPhones? Let us know in the comments!

We pay for your stories! Do you have a story for The Sun Online Tech & Science team? Email us at [email protected]

Source: Read Full Article