Apple has committed to spending more than $6bn on original shows and movies for its new video streaming service that it hopes will challenge the likes of Netflix, Disney and AT&T-owned HBO. The company’s new TV+ service will go live within the next two months, according to people briefed on its plans, in an attempt to pre-empt the launch of Disney Plus, which is scheduled to debut in the US in November. Apple has not yet revealed pricing or other key details for its TV+ subscription service, but said new content would be added every month after the service launches in more than 100 countries. (FT)
The U.S. government's decision to add more Huawei affiliates to a blacklist is "unjust" and "politically motivated" and will not help the country advance its technological leadership, the Chinese telecom equipment supplier said in a statement. Yesterday, the U.S. Commerce Secretary extended by another 90 days a temporary reprieve for Huawei to continue doing business with American companies, but the Bureau of Industry and Security added another 46 Huawei affiliates to the blacklist, bringing the total up to over 100. (SA)
Home Depot reported a rise in earnings that beat analysts’ expectations in the first quarter, but a closely watched sales metric missed estimates as the US housing market stuttered. The Atlanta-based company said net earnings rose to $2.5bn in the first quarter of fiscal 2019, beating expectations and up from $2.4bn the previous year. The world’s biggest home improvement group on Wednesday said same store sales grew 2.5 per cent, sharply missing expectations for a 4.2 per cent rise. (WSJ)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.