Amazon Tackles Healthcare, Apple Slashes iPhone X Production
Amazon is joining forces with Berkshire Hathaway and JPMorgan Chase to bring their employees better and cheaper healthcare. The three companies will create an independent company solely focused on improving technology to make the healthcare system more efficient. Details are scarce as plans are still in the early stages.
And Apple is reportedly slashing production of its iPhone X due to waning demand. The company was originally planning to produce 40 million iPhone Xs but now will only produce 20 million, according to the Wall Street Journal. This comes just days before Apple is set to report its quarterly earnings.
Melissa Armo, founder and owner of The Stock Swoosh, joined Cheddar News to discuss Wednesday's session as stocks closed down amid concerns over a banking crisis and ahead of next week's Fed meeting.
Caleb Silver, editor-in-chief of Investopedia, joined Cheddar News to explain the risks in the banking sector after the recent turmoil with Silicon Valley Bank and the news that Credit Suisse's biggest backer said it wouldn't provide further financial help.
T-Mobile has entered into an agreement to acquire the parent company of Mint Mobile, a direct-to-consumer prepaid wireless company partially owned by actor Ryan Reynolds.
Mortgage applications jumped 6.5 percent from a week ago, according to a weekly survey from the Mortgage Bankers Association (MBA), even as they remain well below their pace a year ago.
