Business News Live: Apple launches iPhone 13

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Apple launches iPhone 13

Apple launched the iPhone 13 and a new iPad mini at a media event dubbed California Streaming. The tech giant expanded 5G connectivity and revealed faster chips, and camera improvements.

Apple also launched the Watch Series 7, featuring a re-engineered Always-On Retina display that offers nearly 20% more screen area and thinner borders at just 1.7 millimetres — 40% smaller than those on Apple Watch Series 6.

India-based buyers can get iPhone 13 for ₹79,900, iPhone 13 mini for ₹69,900, iPhone 13 Pro for ₹1,19,900 and iPhone 13 Pro Max for ₹1,29,900 from Apple’s online store and authorised re-sellers, beginning at 5.30 pm IST on September 17, with availability beginning September 24. Whereas, Wi-Fi models of iPad mini are available with a starting price of ₹46,900.

Sensex, Nifty open on a cautious note

The Indian equity benchmark indices, Sensex and Nifty opened flat amid mixed global cues. At 9:15, Sensex opened 0.18% higher at 58354.11 and Nifty opened 0.04% higher at 17387.65.

Among sectors, private banks and financial sectors traded lower while auto, media, FMCG and IT saw some buying.

Oil rises after fall in stocks

Oil prices rose after industry data showed a larger than expected fall in crude oil stocks in the U.S. and on expectations that increased vaccine roll-out will spur demand, Reuters reported. 

Brent crude oil rose 0.5% to $73.99 a barrel while U.S. West Texas Intermediate (WTI) also surged 0.5% to $70.90 a barrel.

"The impact of Hurricane Ida was a lot greater than many anticipated and production in the Gulf of Mexico region might struggle to return until Tropical Storm Nicholas is done pushing the region with territorial rain," Edward Moya, senior analyst at OANDA told Reuters.

Asian shares fall after weak China data

Asian shares fell as weak Chinese economic data raised concerns about slowing global growth, Reuters reported.

Chinese data showed that retail sales missed analyst expectations and grew at the slowest pace since August 2020, and industrial output also rose at a weaker pace from July.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.82%, and Tokyo’s Nikkei was down 0.89%. Following the data, Chinese blue chips fell 0.73% and Hong Kong benchmark shed 0.87%.

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