Greg Abel made a point of stopping by every booth in the hall, greeting employees and shaking hands with shareholders.
Federal Reserve officials signaled one interest rate hike this year, but historical patterns suggest a cycle of multiple adjustments. Former Fed President Jim Bullard noted the committee rarely makes single moves, typically engaging in rate cycles to achieve policy goals. Markets await further clues from the FOMC meeting minutes.
Apple is expanding its partnership with Broadcom in a multi-year deal exceeding $30 billion, focusing on U.S.-made custom silicon for connectivity components. The agreement includes a $1.5 billion expansion of Broadcom's Colorado facility and marks Apple's largest U.S. manufacturing commitment.
Oil prices rose sharply Wednesday after President Trump stated the US ceasefire with Iran is over. This follows US "powerful strikes" against Iran in retaliation for attacks on commercial vessels in the Strait of Hormuz.
Virgin Media has been fined £28m by Ofcom for repeatedly making it difficult for customers to cancel contracts. The regulator found "deliberate call-dropping" and excessive call transfers over nearly three years, impacting millions of customers. The fine, reduced by 30% due to settlement, is the largest ever under Ofcom's consumer protection rules.
Apple is testing DRAM chips from China's CXMT for domestic use and lobbying the US government for wider approval. This move occurs amid US efforts to curb China's tech ambitions, with CXMT poised to be key in China's AI supply chain and planning a significant IPO.
John Lewis is considering closing its in-store money exchange and gift wrapping services, a move that could lead to around 200 job losses. The retailer cites falling demand for foreign currency exchange and a shift towards online orders and digital payments. Gift wrapping services are proposed to be moved to tills. Affected staff will be consulted.
