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Demand low for new iPhone 16

Oct. 1, 2024 | Tuesday’s business headlines

INDIANAPOLIS (WISH) — Here is a look at Tuesday’s business headlines with Jane King, where she discusses the dockworkers strike that started at midnight Tuesday, or the low demand for the new iPhone 16.

Economic impact of Helene still to be determined

The long-term economic impact of Helene could take weeks to discern.

While Moody’s analytics projected property damage alone as high as $26 billion, AccuWeather’s estimates on Monday placed the total economic toll—including supply-chain disruptions, lost wages, and airline cancellations—as high as $160 billion.

The storm could cause further chaos in Florida’s already troubled insurance market, while President Joe Biden said he may call on Congress to approve additional aid.

Dockworkers strike could impact the economy

A port strike and the effects of Hurricane Helene could slow the U.S.’s transport of goods.

The strike, which started at midnight Tuesday, involves thousands of dockworkers demanding higher wages.

The port strike of 45,000 workers could slow needed goods to get to those who need it from the hurricane and cost the U.S. economy $5 billion a day.

In terms of stocks, international air freight companies like U.P.S. and FedEx could benefit.

Survey: Hacking personal data is widespread

Forty-five percent of global respondents reported that their personal data, such as banking or email account information, has been compromised by a hacking attempt or scam.

Almost half admitted that they’re reactive to cyber threats, rather than proactively protecting against them, in their personal lives and at work.

In time for cybersecurity awareness month in October, Yubico commissioned the global survey, with respondents from the United States, United Kingdom, Australia, India, Japan, Poland, Singapore, France, Germany, and Sweden, to investigate the global impact of cyber insecurity, both personally and in the corporate realm.

Demand not strong for newest iPhone

Apple had been counting on new artificial intelligence features to make the iPhone 16 a major hit. But pre–sale estimates point to a more muted early response than Apple had hoped.

Apple sold just an estimated 37 million units in the first weekend of iPhone 16 pre-sales, down more than 12% compared to the same period last year, according to a blog post from Ming-Chi Kuo, an Apple analyst with T.F. International Securities.

In particular, demand for the higher priced iPhone 16 Pro devices were down sharply year-over-year compared with the iPhone 15 launch.

Do you get the ‘Sunday Scaries’?

The “Sunday Scaries” is that feeling is defined as anxiety or dread over what to expect for the following week, and shared that it sets in around 3:54 p.m.

Conducted by Talker Research for Pacific Foods, the survey found that combatting this feeling is important to 62% of Americans, who prioritize making the most of their weekends by cooking, listening to music, and using social media.