Jumat, 28 Juni 2019

By the numbers: Best June for the Dow since 1938, S&P 500's best first half in two decades - CNBC

Traders on the floor of the New York Stock Exchange.

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Wall Street wrapped up a roaring June and first half of the year as investors cheered the prospects of easier monetary policy from the Federal Reserve and awaited clarity on U.S.-China trade relations.

The Dow Jones Industrial Average rallied 7% this month, notching its best June performance since 1938, when it surged 24.3%. Caterpillar, Apple and Goldman Sachs drove the Dow's gains in June, rallying more than 11% each.

The S&P 500 posted its best first half of a year since 1997, soaring 17% and reaching an all-time high. All 11 of the S&P 500 sectors rose in the first half of the year, with tech rising more than 25% to lead the gains. Energy was the market's laggard in the first half, rising just 6.6%.

One subset of the technology space that shined this month was semiconductor stocks. The VanEck Vector Semiconductor ETF (SMH) — one of the most widely followed ETFs for chip stocks — skyrocketed more than 12% in June, notching its biggest one-month gain since September 2010.

Semiconductor stocks were coming off a 15.5% plunge in May, however, as trade tensions between China and the U.S. ratcheted up. Investors turn their eyes to the G-20 summit Osaka, Japan as Chinese President Xi Jinping and President Donald Trump are scheduled to meet and discuss trade.

Gold also surged more than 7% in June as the dollar dropped and the Fed opened the door for a potential rate cut in July. The precious metal's gain this month was its biggest since June 2016, when it jumped more than 8%.

Oil prices, meanwhile, got a boost amid rising tension between Iran and the U.S. Tensions between the two countries escalated after a U.S. drone was shot down earlier this month. Iran claimed the drone was flying over Iranian airspace, violating international law, while the U.S. disputed those claims.

West Texas Intermediate futures surged more than 8% in June, its biggest one-month rally since January, when it rose 18.5%.

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https://www.cnbc.com/2019/06/28/by-the-numbers-best-june-for-the-dow-since-1938-sp-500s-best-first-half-in-two-decades.html

2019-06-28 19:05:38Z
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Apple will reportedly manufacture its $6,000 Mac Pro in China - Engadget

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Apple will manufacture its new $6,000 Mac Pro in China, The Wall Street Journal reports. That's not entirely surprising given that most of Apple's products are made there, but the Mac Pro was Apple's last major product manufactured in the US. The decision is an about-face from 2013, when Apple bragged about its plans to keep Mac Pro production domestic.

According to Wall Street Journal sources, Apple will work with Quanta Computer Inc., out of a factory near Shanghai. That facility is close to other Apple suppliers, which could help the company lower its shipping costs, and manufacturing labor costs in China are still much lower than those in the US. Apple has a long-standing relationship with Quanta, which makes MacBooks and Apple smartwatches at its other facilities.

The decision to move Mac Pro production to China comes even as trade tensions between the Trump administration and China escalate. The proposed 25 percent tariffs on imports from China would affect all of Apple's major devices. The company has asked suppliers to study shifting assembly of some products out of China, and Foxconn said it could produce US-bound iPhones outside of China if necessary.

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https://www.engadget.com/2019/06/28/apple-manufacture-mac-pro-china/

2019-06-28 16:05:53Z
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He designed the iPhone. Now Jony Ive is leaving Apple - CNN Business

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https://www.youtube.com/watch?v=LEXH81CfWD4

2019-06-28 15:27:17Z
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Apple will be fine without Jony Ive - Engadget

You could smell the hysteria at the news. Where will Apple, a company famous for its commitment to design and its famous designer, go from here? Sir Jonathan Ive's departure, however, may be less of a catastrophe than some think. What if, actually, this isn't just a good thing, but a sign of an even more positive future for Apple?

Apple has always prided itself on its culture, rather than its personnel. Tim Cook once said that Steve Jobs' greatest contribution to the company was its culture and work to nurture new talent within it. But Apple also lionized Ive as an embodiment of its design skill, as evidenced by his regular (much-parodied) appearances in product videos.

But Ive was never a single figure in Apple's design team, just the most famous -- and the most powerful. Apple may have avoided the PR shock if it had other designers who were similarly visible outside of the company. Some longstanding rumors suggest any potential successors to the Ive mantle were pushed out of the company by the designer himself.

Ive's departure may not hurt too much because Apple's hardware division isn't going to be the only thing the company is focusing on in future. The smartphone and tablet markets won't see the sort of explosive growth that they have done in the past. And, as the company pushes into services as a key vehicle for profit, there's less need for a superstar hardware designer hanging around.

It's not as if the iPhone and iPad, among other products, are going to see radical innovation now, anyway. Their forms are pretty settled at this point, and it must have been a challenge for Ive to come up with a new tweak on a design he (arguably) perfected in 2012. And even inside Apple, Ive has always sought to design other products, like a limited-edition Leica, Diamond Ring and a watch. Not to mention Ive giving notes on how Kylo Ren's lightsaber should work.

In fact, some of Ive's obsessions saw him butting up against the laws of physics in a way that he must have found frustrating. For someone who wanted his designs to be unobtrusive, the lens humps on the iPhone and iPad cameras must have rankled. Similarly, Intel chips have lagged sufficiently that a laptop redesign would be tough, these days. And Ive's desire to make thinner and lighter products sometimes made them less usable.

Take his infamous line from 2015, when Ive said that people were essentially using their phones in the wrong way. Rather than admit that his obsession with size and weight meant the iPhone battery was far too small, he blamed the user for their overuse. Similarly, the new MacBook Pro keyboard, built to shave precious millimeters from the laptop's body, has met plenty of derision.

On the other hand, his philosophy achieved the impossible feat of shrinking a phone into a device as small as the Apple Watch. It's a product that, for all its flaws, every one at Apple deserves praise for creating in an era of clunky wearables. But it wouldn't be a bad thing if Ive's successors, Evans Hankey and Alan Dye, loosen up on some of his more famous hangups. A gram of weight, here, for a bigger battery; a less elegant design for a more functional keyboard, there.

Neither figure has been in the spotlight much until now, but we can expect to see more of them in the near future. Both handled Ive's responsibilities for software (Dye) and hardware (Hankey) while he was working to finish Apple Park. So they're both used to the day-to-day parts of the job, without the increased scrutiny their new titles will involve.

In many ways, Ive leaves Apple with the most settled product line it has had in years, with the Mac Pro rounding out the set. The iPhone and iPad are both in rude health, and there's little more that can be done with the iMac these days. If Apple does make an ARM laptop in the near future, then it's likely Ive and his team have already designed and built the chassis for it.

We'll still be living in Jonathan Ive's world, it's just that he'll be off in his office, building a new toilet, or standard lamp... or something.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

After training to be an intellectual property lawyer, Dan abandoned a promising career in financial services to sit at home and play with gadgets. He lives in Norwich, U.K., with his wife, his books and far too many opinions on British TV comedy. One day, if he's very, very lucky, he'll live out his dream to become the executive producer of Doctor Who before retiring to Radio 4.

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https://www.engadget.com/2019/06/28/apple-jony-ive-departure/

2019-06-28 15:00:40Z
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Tesla gives updates on cause of a battery fire, says single module is responsible - Electrek

Tesla has given an update on the cause of a Model S battery fire that happened in Shanghai earlier this year after the government started putting pressure on electric automakers.

In April, a Tesla Model S was caught on video bursting into flames seemingly on its own when parked in a garage — pictured above.

Following the accident, a few Nio electric SUVs also had thermal events in China and it led to a lot of attention on battery fires in the country.

The government asked automakers making electric vehicles to investigate fire risks and report on what they are doing to prevent their cars from catching on fire.

Earlier this week, Nio announced that it is recalling its SUV.

A month after the incident in Shanghai, Tesla released an update for its battery software in order to help prevent further fires in Model S and Model X.

Today, Tesla also issued a statement on Weibo about the cause of the Shanghai fire and said that it didn’t find any defect in its system:

The automaker says that they conducted a “joint investigation” with “Chinese and American experts” who “didn’t find that the system has any defects.”

Tesla added that preliminary findings show the source of the fire as a single battery module at the front of the vehicle. Here’s a Tesla battery pack teardown exposing the battery modules:

However, they didn’t explain what in the battery module, which Tesla makes itself, could have caused it to ignite.

The automaker reiterated that it believes its vehicles are 10 times less likely to catch on fire than gasoline vehicles.

Electrek’s Take

While Tesla is correct to claim that gasoline cars are on average more likely to catch on fire than Tesla vehicles, that’s based on all vehicle fires and not just newer vehicles like Tesla’s cars.

In either case, it’s still statistically not something that people should be concerned about, but it’s obviously not the case, especially in China following those events.

That’s why Tesla needs to be transparent about its investigation into the cause of the fire when the vehicles are not involved in accidents.

As of now, it sounds like Tesla is just sharing the results of a preliminary investigation, because saying that the cause has been traced to a single battery module isn’t saying much.

They have already released a software update to make the thermal management system safer, but it sounds like they did so way before the findings from this incident.

Hopefully, they can learn more and it can lead to safer battery packs.


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https://electrek.co/2019/06/28/tesla-updates-cause-shanghai-battery-fire/

2019-06-28 13:52:00Z
CAIiELeg6NIbzDbFbFG72ltcXrkqGQgEKhAIACoHCAowqoP5CjDpz-ACMJ_YtAU

Americans still love Mexican beers Corona and Modelo - CNN

Shares of Constellation soared 7% in early trading Friday after the company reported earnings and sales that topped forecasts and also issued a solid outlook for the rest of this fiscal year.
Constellation, which imports the Corona and Modelo brands from Mexico, posted a more than 7% jump in beer sales and nearly 12% increase in operating profits from its beer unit compared to a year ago.
Corona-maker Constellation Brands is investing in female entrepreneurs to help it sell alcohol to women
"Our iconic beer portfolio continues to be a cornerstone of growth in the U.S. beer industry," said Constellation CEO Bill Newlands in a statement.
The solid beer performance helped offset a decline in revenue and earnings from its wine and spirits business, which owns the Kim Crawford wine and Svedka vodka brands. Constellation reached a deal earlier in April to sell some struggling wine brands.
Constellation shares are now up about 25% this year. The stock briefly plunged in May due to concerns that President Donald Trump would impose higher tariffs on products from Mexico unless the country took a harder stance on illegal immigration to the United States.
He took the leap into cannabis. Now everyone is following
But Trump dropped the threat earlier this month after the two countries came to an agreement on border enforcement.
Constellation is also poised to benefit from the boom in legal marijuana sales in Canada and some US states as well as increased demand for products derived from CBD -- the non-psychoactive component of cannabis -- following the passage of the Farm Bill. That's because Constellation owns about a 37% stake in Canadian cannabis firm Canopy Growth (CGC).

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https://www.cnn.com/2019/06/28/investing/constellation-earnings-mexican-beer-corona-modelo/index.html

2019-06-28 13:34:00Z
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Apple and the end of the genius - The Verge

As the news about Jony Ive leaving Apple sinks in, you’ll be seeing a lot of people weighing in on what the Ive era of Apple meant and what’s next. That’s all for the good, because Ive was remarkably influential — a singular person who drove the design not just for Apple’s products, but for the industry at large. The only person who could claim the same level of both fame and influence was Steve Jobs himself.

It’s annoying to keep using the word “era,” but that’s the word. It sounds unnecessarily portentous for talking about designing computers, but it’s appropriate to the scale of this turnover. So, with Ive leaving, I’ll join in and say this: the era of the singular genius at Apple is over.

The truth is, it’s been over for some time. I would like you to take a look at this remarkable quote Tim Cook gave to the Financial Times, meant to assuage those who will argue that Apple is in serious trouble without Ive:

“The company runs very much horizontally,” said Mr Cook. “The reason it’s probably not so clear about who [sets product strategy] is that the most important decisions, there are several people involved in it, by the nature of how we operate.”

There’s a much more pithy phrase for what Cook is talking about. It’s the phrase for when decisions are made by a consensus from a group instead of by one sole person. That phrase is, of course, “design by committee.”

It’s a damning phrase, so it’s no wonder that Cook avoided it. But make no mistake, that’s what he’s referring to here. It’s a scary thing to consider for Apple, because so much of our idea of what the company is and what it means has been tied up with the idea of a singular genius.

The singular genius is the mythos of how Apple was founded and how it became the global giant it is today. And I don’t mean “genius” just as “very smart,” but as the Romantic Genius — the person who is in touch with the sublime in a way the rest of us cannot understand. That version of “genius” still lives with us today and — like many potent concepts — turns out to be more of a social invention buttressed by technology (the need to assign value to copyrighted works) than some innate human divinity.

While Apple might have a good story about having been founded in a garage, the true founding myth of Apple is the myth of genius. You know the fable, which has the benefit of also being true. When Steve Jobs was in charge, Apple made amazing things: the Apple computer, the Mac. Jobs not in charge: the very bad ‘90s with Scully and the Newton. Jobs back in charge: the renaissance, the iPod, the iPhone.

After Steve Jobs, that mantle was passed to Jony Ive. And he quietly (quite literally) took it. It was important to our concept of Apple that there be a single, discerning decision maker. Somebody uncompromising about quality. Somebody with very good taste. A capital G Genius.

The genius is the opposite of the committee. John Gruber very correctly points out that it is deeply weird that the two people tapped as Ive’s successors report to the Chief Operating Officer. I agree, but mainly because it’s deeply weird at Apple.

There are two big changes to pick apart. First, there are two people replacing Ive, not one. And second: they report to the COO, not directly to Tim Cook. That is precisely the opposite of how Steve Jobs had set up Jony Ive at Apple. Here’s how Jobs himself described Ive’s role:

He’s not just a designer. That’s why he works directly for me. He has more operational power than anyone else at Apple except me. There’s no one who can tell him what to do, or to butt out. That’s the way I set it up.

Compare that quote about Ive to the earlier one from Cook about how product decisions are made. The difference is stark! Cook’s vision is not how we imagine Apple operates. As Gruber succinctly put it: “I don’t worry that Apple is in trouble because Jony Ive is leaving; I worry that Apple is in trouble because he’s not being replaced.”

It’s far too early to know whether that level of worry is warranted. I do know that it comes from a real place — it’s a place where I also sit. From here, it looks like Apple has lost a step when it comes to design leadership. There are the easy dunks you can make on some of Apple’s products like the first Apple Pencil, the iPhone battery case, and the iPad Smart Keyboard. But there are much more fundamental worries about the MacBook’s keyboard, the length of time it took to recover from the “trashcan” Mac Pro, and the weirdly unergonomic Apple TV remote.

The thing about those missteps is we don’t know their cause. One way of thinking about them is that they stem from a lack of product focus — there’s no genius sending things back to the drawing board when they’re not good enough. Another, though, is that they stem from too much focus — focus on form over function, on making things thin and beautiful instead of making things usable.

In that framework, the problem was either that Jony Ive wasn’t paying attention or that he had too much power and misused it. That’s how the thinking goes, because our thinking about Apple has been defined by trusting in the taste of a singular genius, because design by committee is obviously worse than that.

The reality is that boiling down Apple’s design to those two contradictory explanations is reductive. Apple’s product strategy is not dictated by a single person anymore — and I wonder just how much even Ive drove it, especially in the last couple of years. Multiple stories — including this one from Bloomberg — suggest Ive hasn’t been as engaged as he once was.

Even though Ive is leaving, he’s still going to be around. More importantly, the team he led isn’t going anywhere and isn’t suddenly going to change their entire design philosophy overnight. At the very least, Apple designs products years in advance, so Ive’s designs are going to be with us for a little bit longer.

Nevertheless, his departure will have real consequences. The first consequence isn’t Apple’s problem, it’s ours: we should stop thinking of Apple as the singular expression of one person’s genius. History has moved beyond the Great Man theory, and so too should our ideas about how Apple operates.

When I look at some of the design decisions Apple has been making in both its hardware and software, the only word that comes to mind is “uncompromising.” That’s a virtue when it applies to a leader who is paying attention to quality, but it can be a vice when it applies to products that need to be used by messy, messy humans.

Committees are a pain, they’re not as mythic as a singular genius, they’re often more timid than they should be. But maybe what Apple design needs right now is a little less mythos and a little more compromise.

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https://www.theverge.com/2019/6/28/18870887/apple-jony-ive-design-genius-committee

2019-06-28 12:00:00Z
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