1. Apple profits: Apple sold essentially the same number of iPhones last quarter as it did a year prior, but sales and profits soared as it made more money from higher-priced devices.
Exec summary: Happy August! Or should I say, happy August? We shall see. I'm back from a few days up in Burlington, VT... Thank you, Oliver Darcy, for manning this letter while I was away... Now here's the day's media news...
Apple sold essentially the same number of iPhones last quarter as it did a year prior, but sales and profits soared as it made more money from higher-priced devices.
After nearly a decade of keeping interest rates at rock-bottom levels, the Federal Reserve has finally started raising the benchmark rate it charges financial institutions. That means banks are also raising rates they charge consumers.