Apple CEO Tim Cook Embraces Technology and Luxury to Win in Smartwatches
Apple Inc. is betting that its first new gadget in five years, a smartwatch costing from $349 to more than $10,000, will offer the right blend of technology and luxury to lure even more customers and boost sales.
Apple Watch has a customizable face and will run 18 hours with typical use, Chief Executive Officer Tim Cook said at an event in San Francisco Monday. He was making the case for why consumers would want to add another digital product to their daily lives, highlighting the watch's ability to track health, send notifications and serve as a status symbol.
"Apple Watch is the most personal device we have ever created -- it's not just with you, it's on you," Cook said. "Since what you wear is an expression of who you are, we designed Apple Watch to appeal to a whole variety of people with different tastes and different preferences."
Varoufakis unsettles Germans with admission Greece won't repay debts
(Reuters) - Greek Finance Minister Yanis Varoufakis has described his country as the most bankrupt in the world and said European leaders knew all along that Athens would never repay its debts, in blunt comments that sparked a backlash in the German media on Tuesday.
A documentary about the Greek debt crisis on German public broadcaster ARD was aired on the same day euro zone finance ministers met in Brussels to discuss whether to provide Athens with further funding in exchange for delivering reforms.
"Clever people in Brussels, in Frankfurt and in Berlin knew back in May 2010 that Greecewould never pay back its debts. But they acted as if Greece wasn't bankrupt, as if it just didn't have enough liquid funds," Varoufakis told the documentary.
Brent falls while U.S. crude gains on easing stockbuild
(Reuters) - Brent prices fell 2 percent on Monday pressured by European Central Bank bond-buying, while U.S. crude rose about 1 percent on a smaller-than-expected build in inventories at the key Cushing oil hub, leading to a narrowing gap between the two benchmarks.
Brent's premium to U.S. crude CL-LCO1=R, one of the biggest oil plays, narrowed to less than $9 a barrel, tripping up some traders who had bet the spread would expand this week after a recent 13-month high above $13.
Brent was pressured as the ECB started buying bonds under its quantitative easing program, a move that implies a certain level of deflation, said Bob Yawger at Mizuho Securities in New York.