Apple Debuts $2,000 Foldable iPhone

Apple revealed its first foldable iPhone, called the Duo, at its major product event. The device functions like a tablet but fits in a pocket, with capabilities for multitasking. The event was led by new CEO John Turnis, who has recently taken over from Tim Cook. Despite technological advancements, Apple increased iPhone prices, starting at about $2,000, citing rising memory and storage costs. Industry analysts see this launch as a strategic move to capture significant revenue from foldable phones, even though growth in the category has stagnated.

The U.S. Department of Justice began a criminal trial against Huawei in Brooklyn, focusing on allegations of systematic theft of trade secrets from U.S. companies like Cisco and T-Mobile, and violations of sanctions with Iran. The case has implications for diplomatic relations, especially as Chinese leader Xi Jinping prepares to meet with President Trump. Huawei dismisses the charges as false, claiming they are previous civil disputes. The trial underscores ongoing tensions in U.S.-China tech relations and questions about Huawei's practices.

Following the U.S. Treasury's announcement to buy back up to $6 billion in long-term debt, bond yields rose, and U.S. stock indexes declined for the third consecutive day. Oil prices increased above $101 per barrel due to conflicts in the Middle East, reflecting concerns about economic repercussions. These market movements highlight ongoing volatility driven by geopolitical events and fiscal policy.

Several states are reconsidering their long-standing tax breaks for data centers, driven by public backlash and miscalculations of costs. Notably, Ohio paused new exemptions after reports showed significantly higher actual costs than initially estimated. States like Texas and New Jersey are also reviewing their policies, while others such as Indiana, West Virginia, and Wyoming remain welcoming. The debate revolves around balancing economic incentives with public interest and the rising value of data centers due to AI and digital demand.

Steve Whitcoff, Trump's Middle East envoy, reported earning over $100 million from his crypto venture with Trump last year, a substantial increase from previous disclosures. Meanwhile, Congresswoman Ilhan Omar was cleared of allegations related to overstated wealth, with the House Ethics Committee dismissing claims of false reporting after a confidential investigation. These updates highlight ongoing financial transparency and accountability issues involving prominent political figures.

Returning online purchases is becoming increasingly complicated due to surprise fees, shorter return windows, and surveillance of consumer behavior. Retailers are implementing fees to offset losses on returns, affecting shopper experiences. Examples include Target's case where a return was simply refunded without sending a product back. The trend suggests a shift towards stricter return policies, impacting consumer convenience and satisfaction.