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Apple unveils four new iPhone 12 models with 5G: CNBC After Hours

Apple unveils four new iPhone 12 models with 5G: CNBC After Hours

CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC.com Apple reporter Kif Leswing breaks down the tech giant’s big iPhone 12 reveal, including the implications for the 5G network. Plus, CNBC.com’s Melissa Repko dives into Amazon’s Prime Day event this year, and explains how competitors like Target and Walmart are better positioned than ever to eat (some of) Amazon’s lunch.

Here’s everything Apple just announced at its iPhone 12 event

Apple just wrapped up its big iPhone 12 event, where it announced four new iPhone 12 models, all of which support new faster 5G networks.

It also announced a new smart home speaker, called the HomePod Mini, and some fun accessories for the new iPhones that use magnets to attach to them.

Big-box retailers like Walmart, Target try to beat Amazon on speed by focusing on curbside pickup

As big-box retailers throw their own sales events during Amazon Prime Day, expect to see them tout an asset that the e-commerce giant doesn’t have: numerous stores across the country where customers can quickly retrieve their online purchases.

Buy online, pick up in store options — such as curbside and in-store pickup — have gained popularity during the coronavirus pandemic as a safe, convenient alternative to browsing store aisles.

A 25-year-old man becomes first in the U.S. to contract coronavirus twice, with second infection ‘more severe’

A 25-year-old man in the U.S. state of Nevada has contracted the coronavirus on two separate occasions, a study in the Lancet Infectious Diseases journal showed, with the patient becoming seriously ill following the second infection.

It is the first confirmed case of a U.S. patient becoming re-infected with Covid-19, and the fifth known case reported worldwide.

The resident of Washoe County, who had no known immune disorders or history

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Apple sees $81 billion in market value erased as it unveils its first 5G iPhones

Apple sees $81 billion in market value erased as it unveils its first 5G iPhones



icon: iPhone 12 Apple


© Apple
iPhone 12 Apple

Apple tumbled as much as 4% on Tuesday as the company unveiled its latest iPhones.

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The tech giant revealed its first 5G-capable lineup of phones spread across four new models. The iPhone 12 will be available in a 6.1-inch size and as a 5.4-inch variant deemed the iPhone 12 mini. The premium iPhone 12 Pro will be sold in 6.1-inch and 6.7-inch sizes. The new phones will also boast more durable screens, upgraded cameras, and a faster processor.

Shares traded at an intraday loss before the event but slid further after the reveal began at 1 p.m. ET. At the stock’s intraday low of $119.65 per share, Apple saw $81 billion erased from its market capitalization.

Read more: Apple just unveiled the first iPhones that include 5G technology. A Neuberger Berman investment chief says he’s identified 3 overlooked ways to profit from the world-changing innovation.

The company also revealed the HomePod mini, a smaller and less expensive alternative to its smart speaker. The new speaker launches in November for $99.

Though much of the event brought highly anticipated additions to the new generation of iPhones, some elements of the launch may have rankled consumers. For one, the phones will be the first to lack wired earbuds and a power adapter in the box. Apple touted the items’ exclusion as a major step toward reaching full carbon neutrality.

Analysts expect the new iPhones to drive a stronger-than-usual cycle of upgrades among Apple customers. The inclusion of 5G marks the first major step forward in iPhone’s cellular technology since the iPhone 5 was released in 2013. The iPhone 12 also introduces the first major design overhaul for the handset since the iPhone X’s 2017 release.

Read more: MORGAN STANLEY: Buy these 44 cheap stocks poised

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Bellaire unveils financial impact of sidewalk propositions

Bellaire unveils financial impact of sidewalk propositions

The start of early voting today means that Bellaire residents can decide on proposed amendments to the city’s charter that would fundamentally change the process of constructing sidewalks in residential areas.

Bellaire residents will vote on propositions A-C, which would require the city to complete a hydrological study and gain approval of 50 percent of property owners in the proposed area at least six months before the construction of the sidewalks begins.


Although the charter amendments do not explicitly state that there would be no new sidewalks in the city, Safe Bellaire, and some members of the city council, said the cost of the propositions and logistical hurdles would deter the city from adopting any new sidewalks.

On Tuesday, Bellaire provided an estimated fiscal impact of the sidewalk amendments, which are “are rather modest in terms of dollars and cents,” Bellaire Mayor Andrew Friedberg said in a recent blog post. However, he said the amendment makes the process more complicated and the city could be required to repeat certain steps, complicating cost estimates.

“In attempting to estimate the anticipated fiscal impacts, it’s impossible to know how much money might be spent on plan revisions, or how many times the process under Prop A, and then Prop B, would have to be restarted with final consideration pushed six months further out each time,” he said.

The estimated fiscal impact found that for Proposition A would cost between $1,975-$5,025 per block. The proposition would amend the charter so that city council would have to pay for an independent engineer not affiliated with the city or the project to conduct a hydrological study six months before the city council could consider the construction of a sidewalk.

The estimates are

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India Unveils $6.6 Billion Plan to Boost Consumer Demand

India Unveils $6.6 Billion Plan to Boost Consumer Demand

(Bloomberg) — India announced measures worth $6.6 billion to stimulate consumer demand and investment in the economy damaged by the coronavirus pandemic.



a group of people walking down a dirt road: Workers talk on mobile phones at a road construction site in Bhopal District, Madhya Pradesh, India, on Tuesday, Nov. 20, 2018. Key Indian states are voting in polls that may be a preview of next year's national election, with Prime Minister Narendra Modi trumpeting populist welfare schemes to retain power while the opposition works to build alliances that can oust the ruling party.


© Bloomberg
Workers talk on mobile phones at a road construction site in Bhopal District, Madhya Pradesh, India, on Tuesday, Nov. 20, 2018. Key Indian states are voting in polls that may be a preview of next year’s national election, with Prime Minister Narendra Modi trumpeting populist welfare schemes to retain power while the opposition works to build alliances that can oust the ruling party.

As much as 116 billion rupees ($1.6 billion) would be paid as allowances and advances to federal government employees with the condition they spend on non-essential goods before March 31, Finance Minister Nirmala Sitharaman told reporters in New Delhi on Monday. States would separately be eligible to get 120 billion rupees in 50-year interest-free loans for capital expenditure, she said.

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In addition, the federal government will set aside 250 billion rupees toward capital expenditure on roads, defense infrastructure, water supply and urban development, Sitharaman said.

Sitharaman expects the measures to, either directly or indirectly, create demand of more than 1 trillion rupees in the economy, where consumption makes up about 60% of gross domestic product. The steps mark the latest effort by the government to shore up the economy headed for its worst contraction this financial year, after a 21 trillion-rupee package announced in May fell short of providing the desired support.

Read: Indian Consumers Brace for High Inflation as They Curb Spending

“Measures by the government to stimulate demand must not burden the common citizen with future inflation,” Sitharaman said. “We also kept it in mind that it must not put government debt on an unsustainable path. Today’s solution must not cause tomorrow’s problem.”

Nevertheless, they are bound to add

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Facebook Unveils #BuyBlack Friday To Support Black-owned Businesses

Facebook Unveils #BuyBlack Friday To Support Black-owned Businesses

(RTTNews) – Facebook announced #BuyBlack Friday in the US, aiming to celebrate and support small Black-owned businesses and their communities in the upcoming holiday season.

The initiative is part of a three-month long Season of Support that was launched to provide free resources, education and training to help businesses across the world.

Starting October 30, the social media giant will introduce features in the Facebook app that encourage people to create posts supporting Black-owned businesses.

In a blog post, Sheryl Sandberg, Chief Operating Officer, said, “Black-owned businesses have been hit especially hard by the pandemic, closing at twice the rate of other small businesses. But we know that millions of people want to help. More than 3.5 million people on Facebook in the US have joined new groups created to support Black-owned businesses since March.”

Regarding #BuyBlack Friday, the company said it will offer interested businesses a toolkit to get involved, so they can amplify #BuyBlack through their own channels.

The company is also planning a range of events and resources within Facebook’s Lift Black Voices Hub and on the Facebook App Facebook Page. They include the #BuyBlack Friday Show, which will air live every Friday from October 30 to November 27. The show will feature Black businesses, musical artists and entertainers like stand-up comedian and New York Times best-selling writer and actress, Phoebe Robinson.

Later in October, Facebook will introduce The Facebook #BuyBlack Friday Gift Guide, which will showcase products from US Black-owned businesses across categories from beauty to home to fashion.

Further, Businesses Nearby tool will help people find local businesses, including those that have chosen to self-designate as Black-owned.

Facebook will also work with the US Black Chambers, an influential network of Black entrepreneurs, to encourage people to #BuyBlack over the holidays.

Many individuals and companies are

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