Apple's redesigned iPhone 8 will be called 'iPhone X', according to leaked code

• Alex Heath
 

• Sep. 9, 2017, 12:23 PM
• 35,839
 

A concept rendering of the redesigned iPhone X shows the camera's rumored vertical layout. Martin Hajek

There has been much debate over what name Apple will give the higher-end, completely redesigned iPhone 8 that is expected to be announced early next week.

Thanks to a blockbuster leak of the iOS 11 software intended for the device, now we know.

The more expensive, premium iPhone model will be called "iPhone X," according to code discovered by developer Steve Troughton-Smith.

Troughton-Smith has reliably uncovered unannounced Apple features in software code for years, and on Saturday he tweeted what he said was leaked iOS 11 code referencing the iPhone 8, iPhone 8 Plus, and iPhone X.

9 Sep

Steve T-S 

 ✔@stroughtonsmith

…and we now have the name of all three new iPhones. Are you ready for this?

 Follow

Steve T-S 

✔@stroughtonsmith

iPhone 8
iPhone 8 Plus
iPhone X pic.twitter.com/OVLfhLxTdT

8:37 AM - Sep 9, 2017

•  102102 Replies
 
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Apple has historically released no more than two new iPhone models per year, but reports have said the company is planning a third model for 2017 to commemorate the iPhone's 10th anniversary. Some have speculated that the device could be called the "iPhone Pro" or "iPhone Edition."

While the iPhone 8 and 8 Plus will reportedly be mere spec upgrades to the existing iPhone 7 design, the so-called iPhone X will feature an entirely new design with a larger display, facial recognition, and 3D camera sensors intended to enhance augmented reality applications.

Wall Street analysts hope that the more expensive iPhone X will drive a "supercycle " of sales and propel Apple to become the first trillion-dollar publicly traded company. Some analysts and reports have speculated that the device could cost $1,000 or more.

Business Insider will be at Apple's planned event on Tuesday, September 12 to cover the unveiling of these new iPhones.

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SEE ALSO: A bunch of details about the iPhone 8 were just confirmed by leaked Apple software

NOW WATCH: Everything we know about the Apple iPhone 8 — which should be announced next week

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Bitcoin drops $500 after more reports China will ban cryptocurrency exchanges

• Shona Ghosh
 

• 4h
• 3,110

Andrew Burton/Getty Images

Bitcoin has plummeted further after China launched a crackdown on cryptocurrencies.

The currency went into free fall on Friday after reports that China was about to ban cryptocurrency exchanges.

It has continued to decline in value, now standing at $4,161.62, or £3,155, down more than $500 from a high of $4698.72 on Thursday.

The Chinese outlet Caixin first reported the ban on Friday. On Monday, Bloomberg followed up with a report that China would ban the trading of virtual currencies on domestic exchanges but permit over-the-counter transactions.

Markets Insider

Two of China's biggest bitcoin exchanges, OKCoin and Huobi, have said they haven't had any instructions to stop trading. China's central bank has also not commented on the reports.

The reported ban comes after China decided to ban initial coin offerings, a hot new way for startups to raise funds by generating their own virtual currency. Sceptics say it's simply an unregulated way for firms to raise money without going through the due diligence required for conventional fundraising methods like venture capital. Beijing described ICOs as illegal fundraising.

China also barred customers from withdrawing bitcoin in February, but it allowed them to resume withdrawals in June.

Get the latest Bitcoin price here.

SEE ALSO: Here's why China's crypto crackdown is 'bigger than most people think'

London remains the world's top finance centre despite Brexit

• John O'Donnell and Andrew MacAskill, Reuters

• 8h
• 1,199

• Survey puts London at top of globe's financial centres
• London extends lead over New York despite Brexit

A view of London's financial district, Canary Wharf.Dan Kitwood/Getty Images

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FRANKFURT/ LONDON, Sept 11 (Reuters) - London remains the globe's most attractive financial centre, extending its lead over New York despite Britain's looming departure from the European Union, a survey found on Monday.

Britain's departure from the trading bloc has led to some politicians and economists predicting London will lose its pre-eminent status as a financial centre, but there are few signs of that happening yet.

London was placed first, followed by New York, Hong Kong and Singapore in the Z/Yen global financial centres index (GFCI), which ranks 92 financial centres on factors such as infrastructure and access to high-quality staff. New York was 24 points behind the British capital, the biggest gap between the two since the survey started in 2007.

New York's ranking fell 24 points from last year, the largest fall among the top contenders, a dip the survey's authors said was "presumably due to fears over U.S. trade".

Since becoming U.S. President in January, Donald Trump has pulled out of a planned trans-Pacific trade agreement and is pursuing a more isolationist economic policy.

Britain's most powerful financial lobby group, TheCityUK, cautioned against complacency and called for clarity on its transitional arrangements for leaving the EU, which will apply beyond April 2019, when Britain is due to formally leave.

"Absent this, many firms have already started to activate their contingency plans and others will undoubtedly follow suit if these aren't confirmed as soon as possible — and by the end of this year at the very latest," said Miles Celic, Chief Executive Officer of TheCityUK.

Since the survey was conducted in June, talks between Britain's Brexit minister David Davis and his opposite number at the European Commission, Michel Barnier, have become increasingly acrimonious.

The past two months have also seen a pick-up in the number of banks saying they plan to set up new EU subsidiaries after Brexit, with most major U.S., British and Japanese banks saying they will establish units in Frankfurt or Dublin.

Frankfurt has moved up to 11th in the table from 23rd a year ago and Dublin has moved to 30th from 33rd.

(Reporting By John O'Donnell and Andrew MacAskill; Editing by Elaine Hardcastle)

SEE ALSO: Banks are choosing Dublin for a Brexit base over Frankfurt, Paris, and Luxembourg

DON'T MISS: A Brexit exodus may cost London 40,000 investment banking jobs

More: Reuters Company News BRITAIN-EU/LONDON-RATING Reuters Brexit 

China's trade data had something for everyone in August

DAVID SCUTT 

SEP 8, 2017, 1:34 PM

Photo by Tim Graham/Getty Images

Chinese trade data had something for everyone in August with export growth continuing to slow while at the same time imports surged.

According to China’s General Administration of Customs, exports grew by 5.5% from a year earlier in US dollar terms, a deceleration on the 7.2% pace of July and below forecasts for a smaller decline to 6.0%.

While still a healthy rate of growth, exports grew by as much as 16.4% in the year to April. A higher base effect could explain some of the moderation, but it may also be a sign that foreign demand is cooling.

Imports, on the other hand, surged, rising by 13.3% over the same period, accelerating from the 11% pace of July. That easily breezed past expectations for an increase of 10%.

The strength in imports not only reflects strong demand for raw materials but also firmer prices over the past year.

“Strong imports reflect the momentum of domestic demand. It seems that third-quarter gross domestic product will see an upside risk again,” Raymond Yeung, chief China economist for ANZ Bank, told Bloomberg. “The strong yuan is favorable to China if they want to buy more from the rest of the world.”

Of the major commodities, crude oil imports dipped to 33.98 million tonnes, down from 34.74 million tonnes in July, while iron ore imports lifted to 88.66 million tonnes, up from 86.25 million a month earlier.

Copper imports were unchanged at 390,000 tonnes.

With the Chinese yuan up 0.7% against the US dollar, currency movements had a negligible impact on the year-on-year figures in August.

Indeed, in yuan denominated terms, exports grew by 6.9% while imports rose by 14.4%.

With import growth outperforming exports during the month, the nation’s trade surplus narrowed to $41.99 billion.

That was below the $46.74 billion level of July and missed forecasts for an increase to $48.60 billion.

While the overall trade surplus narrowed, the surplus with the United States rose to $26.23 billion, up from $25.2 billion in July.

The increase likely reflects US dollar weakness over the month.

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