Business Briefing

‘Hey Siri, what products will Apple announce at its next event?’

Egypt files $900m claim against Ever Given owners, and other breaking business news

1

Technology 

What to expect at Apple’s ‘Spring loaded’ event

Siri, Apple’s virtual assistant, “prematurely revealed” when the tech giant would be hosting its next event. When asked by Reuters reporters, Siri responded with a message saying “the special event is on Tuesday, 20 April, at Apple Park in Cupertino, California. You can get all the details on Apple.com”.

Apple teased details of its first keynote of 2021 by unveiling a “squiggly” logo and “spring loaded” tagline. This could hint at a new Apple Pencil stylus, “perhaps one with some sort of clickable button”, says The Verge

A number of new products are expected to be announced, TechRadar reports. “While we don’t know for sure what’s coming, we expect new versions of the iPad Pro, iPad mini 6, and other devices like Apple AirTags.”

Apple’s Spring loaded event starts at 6pm (BST) next Tuesday. You can watch via apple.com or YouTube.

2

Cryptocurrencies 

Bitcoin price soars to record high of $64,000 ahead of Coinbase listing

The price of one bitcoin has hit an all-time high of more than $64,000 (£46,368) today. The volatile cryptocurrency has been “up and down over the last few weeks”, says Yahoo! Finance, but its rally has come “in anticipation of Coinbase’s hotly tipped US stock market listing”.

Coinbase, the largest cryptocurrency exchange, is due to list on the Nasdaq this week with a valuation that could run in excess of $90bn (£65.2bn). “A successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors,” said Ipek Ozkardeskaya, a senior analyst at Swissquote. 

3

Shipping 

vesselfinder.com

Ship tracking showed the queue of vessels forming at either end of the blockage

vesselfinder.com

Egypt files $900m claim against Ever Given owner 

The Ever Given saga in the Suez Canal continues after Egypt seized the container ship which blocked the vital trade waterway for almost a week last month. 

Egypt incurred “heavy financial losses from the canal jam”, says DW, and the mega-ship is now being held in the Great Bitter Lake amid a dispute over damages. The Ever Given was seized due to its owners failing to pay $900m (£652m) in compensation, Suez Canal Authority (SCA) chief Osama Rabie told the Al-Ahram newspaper.

4

Banking 

Haldane steps down as Bank of England chief economist 

Andy Haldane, the Bank of England’s chief economist, is stepping down after more than 30 years at the central bank. In September he will become the chief executive of the Royal Society for Arts, Manufactures and Commerce (RSA). 

The 52-year-old has been “among the most optimistic economists” during the pandemic, says The Telegraph. “His enthusiasm includes mocking gloomier forecasters”. 

5

Property market 

Newquay is UK’s hotspot for home sellers

Newquay is the hottest seller’s market in the UK so far this year, according to property website Rightmove. Eight out of every ten homes put up for sale in the Cornish town this year have been sold subject to contract (SSTC). This makes it the “fastest moving market in the UK”, the BBC reports. 

The Rightmove study is based on just under 300,000 properties that have come up for sale since the start of 2021. In second place behind Newquay (82%) is Newton-Le-Willows in Merseyside, where 81.8% of properties are SSTC, followed by Plymstock in Devon with 81.2% currently SSTC.

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