Here's everything Apple announced on Monday at its biggest event of the year

• Avery Hartmans
 

• 13h
• 366,702

Apple CEO Tim CookStephen Lam/Reuters

Apple unleashed a slew of new products, software, and updates at its annual Worldwide Developer Conference, or WWDC, on Monday.

Chief among them: a Siri-enabled speaker called HomePod, a brand new product category for Apple. 

Apple also showed off new features for its iOS mobile software and lots of other fun stuff.  Some of the products will be available immediately, others will come later this year.

Here's everything Apple unveiled at WWDC 2017:

View As: One Page Slides

HomePod marries Siri with a home speaker

Justin Sullivan/Getty

HomePod is a seven-inch-tall speaker that has Apple's digital assistant built in. This is Apple's long-awaited competitor to Amazon's popular Echo speaker. The HomePod lets you use your voice to play music and control HomeKit devices like smart light bulbs or thermostats, as well as letting you chat with Siri.

HomePod costs $349 to start and will be available later this year. 

The iPad Pro is available in a new size

Justin Sullivan/Getty

Apple launched a new size for its iPad — 10.5-inches. The new model will start at $649 for 64GB of storage and cost up to $949 for 512GB. 

The new iPad will also include updated features and specs like a better display, smoother scrolling, a faster chip, the ability to multitask between apps, and the same camera that's in the iPhone 7. The new model will begin shipping on Monday. 

New Mac-like capabilities for the iPad

Apple

The new iPad Pro will also blur the line between tablet and laptop further once Apple releases the next version of its iOS software in a few months. The update will bring Mac-like features to the iPad, including a new dock, the ability to drag and drop files between apps and a full-sized on-screen keyboard.

MacBook Pro, MacBook Air, and MacBook are all getting a few updates

Justin Sullivan/Getty

Apple made updates to its 13- and 15-inch MacBook Pro laptops, including adding Intel’s latest 7th-generation Core processors, known as Kaby Lake, and adding faster graphics on the 15-inch model. 

The MacBook Air got its first update in more than 800 days at this year's WWDC, but it's a small one: the Air will now start with a 1.8 GHz processor rather than a 1.6 GHz processor.

Apple's 12-inch MacBook is getting a tweak in its specs and an upgraded keyboard.

iMac now has more memory, more ports, and better displays

Justin Sullivan/Getty

Apple's iMac desktop computer got some improvements to position it as a computer for virtual reality content creation. The new iMac has higher memory capacity, up to an 80% boost in its graphics, more ports for hooking up accessories and other external devices, and more. 

WatchOS is getting new watch faces, improved fitness tracking, and better Siri integration

Stephen Lam/Reuters

The newest version of Apple's Watch software, WatchOS 4, will offer three new watch faces, more workouts in the Fitness app, an improved flashlight, and the ability to pair it with your gym equipment. 

But the biggest update to the watch is the Siri integration that is now available on the watch face. Using machine learning, Apple says the watch can now check your routines and the apps you use the most, automatically displaying the on the watch face at the most appropriate times.

You'll soon be able send and receive money from your friends within Apple Pay

Justin Sullivan/Getty

Much like money transfer app Venmo, Apple Pay can now support peer-to-peer payments. The feature will be integrated directly into iMessage, so users can send money directly within a conversation with a friend. Once transferred, the money will go into an Apple Pay cash card. You'll then be able to send that card to friends or family, or transfer it directly to your bank.

Amazon Prime Video is coming to Apple TV

Stephen Lam/Reuters

You'll soon be able to watch Amazon's shows and movies on your Apple TV, resolving a gripe that users have had with Apple TV for years. The feature will arrive later this year. 

High Sierra is the next version of the operating system for Apple computers

Justin Sullivan/Getty

Under Apple's new Mac operating system, Safari is getting a big update to stop videos from auto-playing and ads from tracking you across the web. The photos app will also be improved, the filing system is getting an overhaul, the system will be compatible with VR headsets, and more. 

iOS 11 has a refreshed Control Center, improved iMessage, and better Apple Maps

Justin Sullivan/Getty

Apple's new operating system for phones and tablets, iOS 11, is getting some much-sought-after updates, including a new and improved control center, a more helpful Siri, a redesigned App Store, and a new Files app for managing your documents. The new system also aims to cut down on distracted driving with a "Do Not Disturb While Driving" mode, which can detect when you're driving and shut off your notifications. 

Here's a more complete list of iOS 11 features. The new operating system will be available this Fall. 

The $5,000 iMac Pro is the "most powerful Mac" Apple has ever made

Stephen Lam/Reuters

Apple teased the next iteration of its professional-grade desktop computer, the iMac Pro. When it goes on sale in December, the iMac Pro will begin at $4,999 and comes in a new black finish.

ARKit is Apple's first push into augmented reality

Justin Sullivan/Getty

Apple's new ARKit software can display virtual objects in the real world. The software will let apps place items into a physical space by using your phone's camera, with the goal being to make the iPhone "the largest AR platform in the world."

Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. Go Now!

SEE ALSO: Apple made a big change to Apple Pay that could kill millennials' favorite payment app

More: Apple WWDC 2017 Features Markets Insider 

MONEY & MARKETS

The RBA just told some home truths about how slow wage growth is hurting the economy

DAVID SCUTT 

JUN 6, 2017

A traffic controller diverts traffic close to the flooded Georges River in western Sydney Photo: Saeed Khan / AFP / Getty

The Reserve Bank of Australia (RBA) left interest rates on hold at 1.50% at the conclusion of its June monetary policy meeting, an outcome that was widely expected by financial markets and economists alike.

The board also offered no surprises in the final paragraph of the statement, maintaining a neutral bias on the outlook for interest rates.

“Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time,” it said.

A statement that indicates that rates are likely to remain on hold for some time yet.

While all that was very much expected, there was always going to be plenty of interest on what the board had to say on the housing and labour markets, along with the outlook for economic growth and inflation.

And on those fronts the RBA did offer a few interesting tweaks that immediately caught the eye.

On housing, an area that has received intense focus in recent months, the bank said that “prices have been rising briskly in some markets”, although acknowledged that “there are some signs that these conditions are starting to ease”.

This is a clear scaling back of the concern expressed in May when it said that prices had been “rising briskly in some markets and declining in others”.

  

by Taboola 

Sponsored Links 

You May Like

Looking to Build Credit? Start Here!Capital One

If You Were Born Under 1980 - This Game Is A MustThrone: Free Online Game

Perhaps explaining that small shift in sentiment, it repeated that “recent supervisory measures should help address the risks associated with high and rising levels of indebtedness”. It also noted that “lenders have also announced increases in mortgage rates, particularly those paid by investors and on interest-only loans”.

Again, a new phrase that was not seen in May.

Aside from the housing market, there was also likely to be plenty of interest on what the board had to say on the current state of the labour market, particularly in light of recent strength in the official ABS data.

Reflective of that improvement and in other labour market indicators, the board sounded decidedly more upbeat on the pace of hiring, although broader concerns remained.

“Employment growth has been stronger over recent months, although growth in total hours worked remains weak,” it said.

It also repeated that wage growth “remains low” and “likely to continue for a while yet”, noting that “slow growth in real wages is restraining growth in household consumption”.

Previously the board said that “growth in consumption is expected to remain moderate and broadly in line with incomes”.

A small yet subtle tweak, and seemingly expressing more concern that what was said in May.

Despite those risks, it said that “various forward-looking indicators point to continued growth in employment over the period ahead”.

In relation to real wage growth, or lack thereof, the board said that “inflation is expected to increase gradually as the economy strengthens”, largely repeating what it communicated previously.

Outside of those usual talking points, the other big area of interest today was what the board was going to say on the outlook for Australian economic growth, particularly in light of recent economic data suggesting that the economy decelerated sharply, or even contracted, in the first three months of the year.

On that front, the board expressed little concern about the prospect of growth slowdown.

“Domestically, the transition to lower levels of mining investment following the mining investment boom is almost complete,” it said.
“Business conditions have improved and capacity utilisation has increased. Business investment has picked up in those parts of the country not directly affected by the decline in mining investment.”

On the likelihood of a near-term growth slowdown, it said “year-ended GDP growth is expected to have slowed in the March quarter, reflecting the quarter-to-quarter variation in the growth figures”.

Indicating that it thinks any growth slowdown will be temporary, it said that “growth is still expected to increase gradually over the next couple of years to a little above 3%.

A decidedly upbeat assessment if there every was one, and one that financial markets have reacted to in the immediate aftermath of the statement’s release.

Aside from those key areas — housing, labour market conditions, the Australian economy and inflation outlook — the statement was largely devoid of any surprises.

As has been the case for some time now, the board said that higher currency would “complicate” Australia’s economic transition.

It also acknowledged that commodity prices had increased over the past year while noting that prices of iron ore and coal had fallen recent months as it had expected, limiting the benefit from increased national incomes in recent quarters.

Here’s the full monetary policy statement from RBA governor Philip Lowe.

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.

The broad-based pick-up in the global economy is continuing. Labour markets have tightened further in many countries and forecasts for global growth have been revised up since last year. Above-trend growth is expected in a number of advanced economies, although uncertainties remain. In China, growth is being supported by increased spending on infrastructure and property construction, with the high level of debt continuing to present a medium-term risk. Commodity prices are generally higher than they were a year ago, providing a boost to Australia’s national income. The prices of iron ore and coal, however, have declined over recent months as expected, unwinding some of the earlier increases.

Headline inflation rates in most countries have moved higher over the past year, partly reflecting the higher commodity prices. Core inflation remains low, as do long-term bond yields. Further increases in US interest rates are expected over the year ahead and there is no longer an expectation of additional monetary easing in other major economies. Financial markets have been functioning effectively.

Domestically, the transition to lower levels of mining investment following the mining investment boom is almost complete. Business conditions have improved and capacity utilisation has increased. Business investment has picked up in those parts of the country not directly affected by the decline in mining investment. Year-ended GDP growth is expected to have slowed in the March quarter, reflecting the quarter-to-quarter variation in the growth figures. Looking forward, economic growth is still expected to increase gradually over the next couple of years to a little above 3 per cent.

Indicators of the labour market remain mixed. Employment growth has been stronger over recent months, although growth in total hours worked remains weak. The various forward-looking indicators point to continued growth in employment over the period ahead. Wage growth remains low and this is likely to continue for a while yet. Inflation is expected to increase gradually as the economy strengthens. Slow growth in real wages is restraining growth in household consumption.

The outlook continues to be supported by the low level of interest rates. The depreciation of the exchange rate since 2013 has also assisted the economy in its transition following the mining investment boom. An appreciating exchange rate would complicate this adjustment.

Conditions in the housing market vary considerably around the country. Prices have been rising briskly in some markets, although there are some signs that these conditions are starting to ease. In other markets, prices are declining. In the eastern capital cities, a considerable additional supply of apartments is scheduled to come on stream over the next couple of years. Rent increases are the slowest for two decades. Growth in housing debt has outpaced the slow growth in household incomes. The recent supervisory measures should help address the risks associated with high and rising levels of indebtedness. Lenders have also announced increases in mortgage rates, particularly those paid by investors and on interest-only loans.

Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

More to follow…

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

---

The World Bank sees an improving global economy but says substantial risks 'cloud' its outlook

• AFP

• 2h
• 98
 

Alfred Weidinger/Flickr

(AFP) - The global economy is set to post solid growth this year, amid improving world trade and better performance by large emerging markets, but key risks could still threaten the outlook, the World Bank said Sunday.

Rising trade protectionism and policy uncertainty, primarily in the United States under President Donald Trump, pose important cautions for the outlook.

For the first time in four years, the latest edition of the World Bank's Global Economic Prospects has not downgraded the growth forecast even as new problems have emerged.

The report said that "despite substantial policy uncertainty," the global economy still is expected to grow by 2.7 percent for 2017, rising to 2.9 percent in 2018 and 2019.

"Global growth is firming, contributing to an improvement in confidence," the report said. "A recovery in industrial activity has coincided with a pick-up in global trade, after two years of marked weakness."

The seven largest emerging market economies -- China, Brazil, Mexico, India, Indonesia, Turkey and Russia -- remain the key engine for the world economy.

As a group, emerging market and developing economies are expected to grow 4.1 percent this year, led by India, which is expected to expand by 7.1 percent, and China, at 6.5 percent.

Meanwhile, Russia and Brazil are expected to return to growth after contracting for the past two years.

Advanced economies are continuing to grow but at a more modest pace, with the United States expected to expand by 2.1 percent this year, the euro area by 1.7 percent and Japan by just 1.5 percent.

However, "Substantial risks cloud this outlook," the World Bank cautioned.

"Increased protectionism, persistent policy uncertainty, geopolitical risks or renewed financial market turbulence could derail an incipient recovery."

Although the report does not mention Trump by name, it notes that proposed tax cuts and infrastructure spending could boost the US economy but were not factored into the forecast since they remain undefined.

"In contrast, should substantial changes in trade policies emerge, they might trigger retaliatory measures, damaging activity in both the United States and its trading partners," the report warned, and they "could derail a fragile recovery in trade."

In addition, restrictive US immigration policies could reduce growth.

Just the suggestion by the Trump administration of "major shifts" in these areas can have an impact.

"Even without concrete changes, uncertainty about the direction and scope of US policies could affect prospects for the US economy and its main trading partners."

The UK exit from the European Union also poses risks to the outlook, especially given the unknown outcome.

"A further increase in policy uncertainty from already high levels could dampen confidence and investment and trigger financial market stress," the World Bank said.

Meanwhile, rising debt and deficits in emerging market economies remain a concern, making them "more vulnerable to financing shocks."

MORE FROM AFP:

• German prosecutors are investigating VW's chairman
• US alarm as Turkey warns Syrian Kurd militia of more strikes
• Uber suspends services in Abu Dhabi
• Tapeworm drug stops Zika from replicating in lab: study
• Ex-Dodgers owner McCourt set for Marseille takeover

Bitcoin and Ethereum are hitting record highs

• Sam Jacobs, Business Insider Australia

• 5h
• 1,432

Bitcoin just surged to a new record above $US2,800.

It tops the previous high of $US2,799, with the cryptocurrency reaching a peak earlier today of $US2,854.40.

A short time ago, Bitcoin was trading at $US2,800.20, a gain of just over 4%.

Business Insider Australia

The latest surge shows that speculation in the market shows no signs of abating, after prices for Bitcoin dipped back below $US2,000 at the end of May.

Prices for the world’s second largest cryptocurrency ethereum have also ripped higher, a short time ago up more than 5% to $US256.16:

Business Insider Australia

No obvious reasons have been cited as to the latest price surges on Asian markets. Instead, the price action has seemingly been driven by renewed interest from speculative buyers this week as the frenzy surrounding cryptocurrencies continues.

Get the latest Bitcoin price here.

Read the original article on Business Insider Australia. Copyright 2017. Follow Business Insider Australia on Twitter.

MORE FROM BUSINESS INSIDER AUSTRALIA:

• Australian nurse Kirsty Boden confirmed as victim of London terror attacks
• Here's what economists are saying about today's RBA rates decision
• 2017 is the year of energy policy
• AUSTRALIAN STOCKS THUMPED: Here's what you need to know
• The 10 most important things in the world right now

NOW WATCH: Here's how LeBron James reacted when he learned Kevin Durant was joining the Warriors

h

More: Ethereum Bitcoin Business Insider Australia Cryptocurrencies

Americans have more debt than ever before — here's what it looks like

• Akin Oyedele
 

• May 18, 2017, 10:31 AM
• 11,904
 

qz.com

US household debt during the first quarter rose to a new high, surpassing the previous record levels seen in 2008, a report from the New York Federal Reserve released Wednesday showed.

Total household debt increased by $149 billion to $12.73 trillion.

"This record debt level is neither a reason to celebrate nor a cause for alarm," said Donghoon Lee, a research officer at the New York Fed. 

Although household debt is growing, banks are becoming more cautious about the quality of borrowers they lend to. That's different from the lead up to the financial crisis, when a housing-driven lending spree helped bring the financial system to its knees. 

The median credit score at the origination of a new mortgage was 764, the highest since the second quarter of 2015. Mortgages make up by far the largest part of consumer debt in the US.

"Industry groups such as the National Association of Realtors (NAR) have long been saying that a big factor restraining housing market activity (particularly among the first-time homebuyers) has been access to credit," said David Rosenberg, Gluskin Sheff’s chief economist, in a note. "These figures support that view."

Lenders also got more cautious on prospective car buyers amid a steady increase in the share of loan balances that are paid more than 90 days late. Auto loan balances continued to rise, by $10 billion to $34 billion. However, the number of new borrowers fell from the fourth quarter. That's partly because banks lent to fewer borrowers with credit scores below 659.

Student loan debt, the largest category besides mortgages, continued its climb and stood at $1.34 trillion at the end of Q1. The share of student loan balances that eventually go unpaid remained at a high annual rate of 10%. 

New York Fed

SEE ALSO: There are 2 powerful forces competing for supremacy in the stock market