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.
Stocks sank broadly on Wall Street, worsening their losses for the week, as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation with higher interest rates.
Norfolk Southern's CEO is apologizing to Congress on Thursday and pledging millions of dollars to help East Palestine, Ohio, recover from the fiery hazardous materials train derailment as senators investigate.
