Apple Unveils iPhone 16 📱

Good morning. It's Tuesday, Sept. 10, and we're covering, Oracle Surpasses Quarterly Earning, Apple Unveils iPhone 16, Apple Watch Series 10, And AirPods 4, Super Typhoon Yagi Hits Northern Vietnam, Claims Over 60 Lives, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2 Trillion, a 2.62% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $68.02B, which makes a 41.56% increase.

• The total volume in Defi is currently $3.28B, 4.28% of the total crypto market 24-hours.

• The volume of all stable coins is now $63.04B, which is 92.43% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.02%, an increase of 0.28% over the day.

BUSINESS & FINANCE

Oracle Surpasses Quarterly Earning With Strong Cloud Demand

Oracle reported impressive results for the first quarter ending August 31, beating revenue and earnings estimates as demand for its cloud services surged. he company’s stock jumped more than 9% in after-hours trading following the announcement. The company's cloud push is showing progress as it narrows the gap with industry leaders Microsoft and Amazon Web Services. For the second quarter, Oracle projects revenue growth of 8% to 10%, slightly above analysts' estimates of 8.72%.

Why It Matters: For the first quarter ending August 31, Oracle reported revenue of $13.31 billion, exceeding the $13.23 billion forecast. The company earned $1.39 per share, surpassing the expected $1.32. Cloud services revenue climbed 21% to $5.6 billion, and Remaining Performance Obligations (RPO) surged 53% to $99 billion. (Read Deeper)

Sequoia Capital Purchase $861 Million Stripe Share

Sequoia Capital has finalized an $861 million transaction to purchase Stripe shares from its limited partners (LPs). This move highlights the strong demand for liquidity among LPs, with sufficient selling interest to cover the entire offering. The shares were sold at $27.51 each, matching Stripe's most recent 409A valuation of $70 billion. While some LPs fully exited their positions, others only sold portions and also invested in newer Sequoia funds.

Takeaway: Stripe, founded 14 years ago, did not receive any of the proceeds from this sale. Sequoia Capital expressed satisfaction with the deal, emphasizing its ongoing commitment to Stripe's long-term prospects. The completion of this deal illustrates the increasing need for liquidity among venture capital investors and could potentially serve as a model for how venture capital firms handle mature portfolio companies. (Read Deeper)

TECHNOLOGY & SCIENCE

Apple Unveils iPhone 16, Apple Watch Series 10, And AirPods 4

Apple revealed a range of new products and features, showcasing its growing focus on artificial intelligence (AI) and advanced technology. Among the new releases are the iPhone 16, iPhone 16 Pro, Apple Watch Series 10, and AirPods 4, along with updates to AirPods Max. Key features of the iPhone 16 Pro models include larger displays, thinner borders, a lighter titanium frame, and the new A18 Pro chip optimized for AI tasks. The Apple Watch Series 10 introduces a refreshed design and a powerful S10 chip, while the AirPods 4 and updated AirPods Max now feature USB-C charging.

Takeaway: The iPhone 16 models, starting at $799, are powered by the A18 chip and feature customizable action buttons. The Pro models include AI enhancements for photography and video, starting at $999 for the Pro and $1,199 for the Pro Max. The Apple Watch Series 10, starting at $399, is thinner, has faster charging, and includes new health features like sleep apnea detection. All models will be available for pre-order on Friday, with in-store sales starting on September 20. (Read Deeper)

China Aims For Historic Mars Sample Return Mission By 2028

China is advancing its Mars exploration goals with a planned sample return mission, now targeted for "around 2028," ahead of its earlier 2030 estimate. The Tianwen-3 mission aims to launch twice to retrieve Martian samples and return them by 2031. This accelerated timeline follows China’s recent success in retrieving lunar samples and contrasts with the delayed Mars missions of NASA and the European Space Agency are still assessing their Mars sample return missions, facing budget and technical hurdles that could delay their efforts until 2040.

Takeaway: China's commitment to Mars exploration includes international cooperation, with plans to carry other countries' payloads and share data. The Tianwen planetary exploration series, which began with the Tianwen-1 mission in 2021, has already achieved milestones, including the successful deployment of the Zhurong rover on Mars. (Read Deeper)

AROUND DE WORLD & POLITICS

Super Typhoon Yagi Hits Northern Vietnam, Claims Over 60 Lives

Super Typhoon Yagi, Vietnam's most powerful storm in 30 years, has caused extensive damage and fatalities. The storm, which hit northern Vietnam on Saturday, resulted in the collapse of the Phong Chau bridge in Phu Tho province, sending several vehicles into the Red River. At least 60 people have died, with over 240 injured and 1.5 million left without power.

Takeaway: The typhoon, which brought winds up to 203 km/h, has also led to flooding, building damage, and widespread evacuations. Efforts are underway to build a temporary pontoon bridge and manage the aftermath, with the storm continuing to affect the region as it weakens. The storm's impact extended to southern China and the Philippines. (Read Deeper)

NLC President, Joe Ajaero, Released After Controversial Arrest By DSS

Nigerian Labour Congress (NLC) President Joe Ajaero was arrested by the Department of State Services (DSS) at Abuja's Nnamdi Azikiwe International Airport while heading to London for a Trade Union Congress (TUC) conference. His arrest has sparked widespread outrage from various labor unions, civil society organizations, political parties, and human rights groups, including Amnesty International. Critics claim the arrest is an attempt by the government to stifle dissent, particularly regarding opposition to the recent petrol price hike and other government policies.

Takeaway: The DSS has not provided a reason for Ajaero’s arrest. The NLC has condemned his detention as illegal and politically motivated, vowing to take action if he is not released. Labor unions and civil society organizations have put their members on alert for potential strikes and protests. Meanwhile, the airline Air Peace, which had previously filed a petition against Ajaero, clarified that the matter was resolved and had nothing to do with his arrest. (Read Deeper)

ENTERTAINMENT & SPORTS

James Earl Jones, Legendary Actor Dies At 93

James Earl Jones, the iconic stage and screen actor known for his commanding performances and powerful voice, has died at the age of 93. Best known for his roles in The Great White Hope and Fences, as well as for voicing Darth Vader in Star Wars and Mufasa in The Lion King, Jones had a career spanning nearly 200 film and TV credits. Despite a childhood stutter, he became one of the most recognizable voices in entertainment history. (Read Deeper)

The Best Value Premier League Transfers Of The Summer

As the summer transfer window closes, it's time to review some of the smartest business deals in the Premier League. Here are five signings that, based on initial impressions, could prove to be fantastic value for their clubs. Arsenal secured Sterling from Chelsea without a loan fee, with Chelsea covering most of his wages. Sterling brings proven quality with minimal risk. Kamada joined Palace on a free transfer, and his early impact has been promising, adding creativity to the team following Olise's departure. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Google’s ongoing legal battles could have ramifications for the tech industry and potentially reshape how big tech operates. The outcomes could set new legal precedents, from antitrust lawsuits targeting its dominance in online advertising and search, to privacy concerns over user data collection. (Watch)

EXTRA BREVITI

• Apple Intelligence, introduced at WWDC 2024, is Apple's approach to integrating generative AI into its devices and software.. (Read More)

• Thepeer, the fintech startup that closed its doors in April 2024, has returned $357,960 to its investors. (Read More)

• Gomez remains optimistic about becoming a mother, expressing her gratitude for alternatives like surrogacy and adoption. (Read More)