Morning Business Report: Apple earnings top forecasts

  • Apple saw a surprising boost in iPhone sales and has unveiled a $90 billion share buyback. However, sales of Macs, watches, and iPads slipped. CEO Tim Cook says Apple services such as movies, music, and apps set a record for sales.
  • Meanwhile, Americans are worried about their bank deposits. Anxiety about banking hasn’t been this high since the 2008 financial crisis. A survey by Gallup found that nearly 50 percent of people in the U.S. are worried that their money won’t be safe in their bank. Stocks close lower for a fourth consecutive day, alongside bank worries. The DOW is negative for 2023.
  • The Attorneys General of New York and California opened a joint investigation into allegations of workplace discrimination and pay inequities at the NFL. The Attorneys General who issued subpoenas to the NFL, for relevant information regarding how the claims were handled, said the league had not taken sufficient steps to prevent discrimination and retaliation.
  • The biggest grocery union opposes the $20 billion Kroger-Albertsons deal. The labor union worries that the deal could bring  grocery closures and job losses with it. Kroger has said it would not lay off front line workers.
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