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Apple Encryption Safe After All? UK Reportedly Plans to Backtrack on Backdoor Demands

Apple Encryption Safe After All? UK Reportedly Plans to Backtrack on Backdoor Demands

CNET3 days ago
Apple's reputation for providing a private and secure experience for people who use its products and services is among the highest in the industry. All that has been under threat this year, as the UK government has asked Apple to provide it with backdoor access to the iCloud accounts not only of British citizens, but of people around the world.
But it looks like following pressure from the US, the UK might have decided to reverse course. As reported by the Financial Times on Sunday, the Home Office (the UK equivalent to the State Department) will likely have to backtrack on its demands from Apple following intervention from senior US political figures, including Vice President JD Vance.
The Home Office declined to comment on the report, which quoted an unnamed source from the government department as saying "messing with their tech companies, was "a big red line in the US."
Ensuring people's data and communications are properly encrypted is a key selling point for Apple, which has always prided itself on offering customers a high level of privacy and security. It's long maintained that there is no "backdoor" it could simply provide access to, and that creating one would put the company and its users at risk of exploitation from bad actors.
Reports that the UK was seeking backdoor access in order to assist with criminal investigations was first reported by the Washington Post in February of this year.
The same month, Apple pulled its Advanced Data Protection (ADP) feature in the UK, providing iCloud users with less protection than they get elsewhere. At the time the company said it was "gravely disappointed" to have to make the move, "especially given "the continuing rise of data breaches and other threats to customer privacy."
Apple did not respond to a request for comment on Monday.
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Stock market today: Dow, S&P 500, Nasdaq trade mixed as Wall Street weighs Google, Tesla earnings
Stock market today: Dow, S&P 500, Nasdaq trade mixed as Wall Street weighs Google, Tesla earnings

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Stock market today: Dow, S&P 500, Nasdaq trade mixed as Wall Street weighs Google, Tesla earnings

US stocks traded mixed on Thursday, as hopes for a US-EU trade deal kept fresh records in sight and Wall Street assessed earnings from tech giants Alphabet (GOOG) and Tesla (TSLA). The Dow Jones Industrial Average (^DJI) dropped 0.3%, paring earlier losses amid a post-earnings slide in IBM (IBM) shares, after the blue-chip index ended Wednesday just shy of its first record close this year. Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) and the S&P 500 (^GSPC) climbed 0.3% after reaching all-time closing highs. Alphabet beat Wall Street's second quarter earnings expectations and doubled down on its AI spending spree. The Google parent's shares rose alongside other AI-linked stocks such as Nvidia (NVDA), helping buoy the tech-focused gauges. 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IBM's software segment, which has traditionally been a bright spot, reported sales of $7.39 billion, missing analysts' average estimate of $7.41 billion, per Reuters. After a 30% run-up in the stock year to date, the company had little room to miss estimates. Still, IBM's adjusted earnings per share of $2.80 topped the Street's expectations, and its revenue of $16.98 billion for the quarter beat estimates of $16.59 billion. Companies' spending on artificial intelligence infrastructure spurred demand for IBM's latest AI-specialized mainframes. The infrastructure segment, which houses its mainframe, reported revenue of $4.14 billion, beating estimates of $3.81 billion. Read more here from Reuters. Jobless claims hit lowest level in three months Amid a quiet week of economic data, investors were greeted with yet another sign that the US labor market isn't flashing glaring alarm signals. 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Retail investors with an appetite for risk are piling into speculative trades and creating a new roster of meme-stocks, helping power a broader rally in markets, Yahoo Finance's Jake Conley reports: Read more here. STMicro stock falls by most in a year after surprise loss STMicroelectronics (STM) delivered a double whammy in its earnings on Thursday: A surprise Q2 loss from restructuring charges and a disappointing outlook for Q3. US-listed stock in the European chipmaker slid over 10% in premarket trading, while its shares in Paris ( fell to their lowest in a year at one point, down 13%. Bloomberg reports: Read more here. STMicroelectronics (STM) delivered a double whammy in its earnings on Thursday: A surprise Q2 loss from restructuring charges and a disappointing outlook for Q3. US-listed stock in the European chipmaker slid over 10% in premarket trading, while its shares in Paris ( fell to their lowest in a year at one point, down 13%. Bloomberg reports: Read more here. 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The US-Japan trade deal boosts optimism for Wolfspeed as it supports Renesas' EV chip production, raising hopes for more deals with automakers like Jaguar Land Rover. Here are some top stocks trending on Yahoo Finance in premarket trading: Chipotle Mexican Grill (CMG) stock fell 10% before the bell on Thursday after reporting another quarter of negative sales growth. The fast-casual restaurant chain posted results on Wednesday as it navigates an uncertain consumer environment and as its new leadership deals with the most challenging backdrop in years. T-mobile (TMUS) stock rose 5% premarket on Thursday after beating analyst estimates on Wednesday. The telecom group's CEO Mike Sievert told Yahoo Finance's executive editor Brian Sozzi that the company's steady value messaging is helping it to gain market share. Wolfspeed (WOLF) shares rose 18% before the bell. The chipmaker's stock reacted positively this week to the new US-Japan trade deal and has been up 13% over the last five days. The US-Japan trade deal boosts optimism for Wolfspeed as it supports Renesas' EV chip production, raising hopes for more deals with automakers like Jaguar Land Rover. American Eagle stock soars after-hours in latest meme push Stock in retail giant American Eagle Outfitters, Inc. (AEO) flew up over 25% in after-hours trades overnight Thursday. The individual share price went from $10.82 at close to a peak of $13.80 as of 10:57 p.m. EDT. The jump in value can be attributed to the current meme stock phase that has pushed up value in companies such as Opendoor (OPEN), Krispy Kreme (DNUT), Kohl's (KSS), and GoPro (GPRO) over the past few days. Much of meme-stock mania can be attributed to retail investors making moves in stocks with 'undervalued fundamentals', and the rallying of groups around individual personalities. With this in mind, the release of an ad campaign starring actress Sydney Sweeney has been leapt upon by members of online communities on Reddit and X. Though seen in other companies receiving the benefits of online attention, with Opendoor receiving a 140% increase in retail revenue in the past two weeks, it is unclear whether the increase in stock value will see a corresponding increase in revenue for American Eagle. Stock in retail giant American Eagle Outfitters, Inc. (AEO) flew up over 25% in after-hours trades overnight Thursday. The individual share price went from $10.82 at close to a peak of $13.80 as of 10:57 p.m. EDT. The jump in value can be attributed to the current meme stock phase that has pushed up value in companies such as Opendoor (OPEN), Krispy Kreme (DNUT), Kohl's (KSS), and GoPro (GPRO) over the past few days. Much of meme-stock mania can be attributed to retail investors making moves in stocks with 'undervalued fundamentals', and the rallying of groups around individual personalities. With this in mind, the release of an ad campaign starring actress Sydney Sweeney has been leapt upon by members of online communities on Reddit and X. Though seen in other companies receiving the benefits of online attention, with Opendoor receiving a 140% increase in retail revenue in the past two weeks, it is unclear whether the increase in stock value will see a corresponding increase in revenue for American Eagle. Oil prices rise on trade deal positivity, stockpile reduction Crude oil prices climbed late night Thursday, fueled by hopes for progress in US trade talks and a surprise plunge in American oil stockpiles, easing concerns about global economic slowdown. Reuters reports: Read more here. Crude oil prices climbed late night Thursday, fueled by hopes for progress in US trade talks and a surprise plunge in American oil stockpiles, easing concerns about global economic slowdown. Reuters reports: Read more here. 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Bonds Fall on Jobs Strength as Stocks Grind Higher: Markets Wrap
Bonds Fall on Jobs Strength as Stocks Grind Higher: Markets Wrap

Yahoo

time23 minutes ago

  • Yahoo

Bonds Fall on Jobs Strength as Stocks Grind Higher: Markets Wrap

(Bloomberg) -- Treasuries fell as jobless claims hit the lowest since April, underscoring labor-market strength that's keeping the Federal Reserve on hold. Stocks hovered near record highs amid a deluge of corporate earnings. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Can This Bridge Ease the Troubled US-Canadian Relationship? Bonds dropped for a second day, with 10-year yields rising two basis points to 4.40%. Traders slightly pared bets on Fed cuts, projecting less than two reductions this year. The S&P 500 edged higher, with Alphabet Inc. up and Tesla Inc. down after their results. As European policymakers tempered expectations of policy easing, German bunds slid. The dollar and the euro wavered. Subscribe to the Stock Movers Podcast on Apple, Spotify and other Podcast Platforms. Read: 10-Year TIPS Auction Draws 1.985%, Near WI Yield at Bid Deadline Applications for US unemployment benefits fell for a sixth straight week - the longest stretch of declines since 2022. The characterization of the labor market will be a key feature of next week's Fed meeting. To Bret Kenwell at eToro, while the labor market is not firing on all cylinders, it's not showing signs of distress either. If next week's jobs data give another reassuring nod to the labor market, he says investors may breathe a further sigh of relief. 'There are still few signs of major cracks in the labor market,' said Chris Larkin at E*Trade from Morgan Stanley. 'And if that picture remains intact, the Fed has one less reason to cut interest rates.' President Donald Trump will visit the Fed Thursday to tour the construction site he's criticized for cost overruns amid his escalating attacks on Fed Chair Jerome Powell for not cutting rates. The S&P 500's record-setting spree may be stoking concerns about inflated share prices and a revival of meme-stock froth, but JPMorgan Chase & Co.'s trading desk isn't concerned. Rather, it expects the furious rally in US equities to keep going. 'While bullishness is not yet consensus, client conversations reveal that even those that skewed bearish are throwing in the towel,' the bank's head of global market intelligence Andrew Tyler said Thursday in a note ahead of the market open. Trading desks at firms including Goldman Sachs Group Inc. and Citadel Securities are telling clients to buy cheap hedges against potential losses in US stocks as a slew of risks loom over the market's record advance. US margin debt, a measure showing how much investors are borrowing to buy stocks on the New York Stock Exchange, is starting to run too hot — a potentially concerning sign for the credit market, according to credit strategists at Deutsche Bank AG. The market euphoria may continue if there are unexpected tariff reductions or a more dovish stance by the Fed than investors anticipate, the strategists said. US stocks face near-term risk as the market is too complacent about tariffs and the related backlash, according to BNP Paribas Asset Management strategist Chi Lo. On the trade front, Trump suggested he would not go below 15% as he sets so-called reciprocal tariff rates ahead of an Aug. 1 deadline, an indication that the floor for the increased levies was rising. While some investors are concerned about 'frothiness,' Craig Johnson at Piper Sandler says that, from a technical point of view, that this is not the case when looking 'down-cap' from the heavy-weights in the S&P 500 and Nasdaq indices. 'We believe that this bull market is broadening out in terms of participation,' he said. In a sign of how breadth remains, the NYSE advance-decline line, a popular indicator that tracks the number of securities rising minus the number falling on the exchange each day, hit fresh highs. Corporate Highlights: Elon Musk warned of difficult times ahead for Tesla Inc. following one of the carmaker's worst stretches since it first started producing electric sedans over a dozen years ago. Alphabet Inc. said demand for artificial intelligence products boosted quarterly sales, and now requires an extreme increase in capital spending — heightening pressure on the company to justify the cost of keeping up in the AI race. International Business Machines Corp. reported weaker-than-expected sales in its closely watched software segment, disappointing investors who have grown increasingly optimistic about the business. Microsoft Corp. said a Chinese hacking group is exploiting security vulnerabilities in the company's SharePoint servers to deploy ransomware, following a cyberattack discovered last week that has affected hundreds of entities around the world. UnitedHealth Group Inc. is responding to criminal and civil requests from the US Department of Justice about its Medicare practices, the company said, confirming reports of probes that have added to mounting challenges for the largest US health insurer. Union Pacific Corp., North America's largest railroad, is in advanced discussions with Norfolk Southern Corp. about a potential tie-up in what would be the industry's largest deal ever. LVMH sales fell as shoppers reined in purchases of costly Louis Vuitton bags and Dior jackets, a sign the luxury titan remains stuck in its post-pandemic slump. American Airlines Group Inc. scaled back its earnings outlook amid deep fare discounts offered to woo reluctant travelers back on flights during a slump in consumer demand. Southwest Airlines Co. expects economic turmoil to erase as much as $1 billion of its annual pre-tax profit this year, prompting the US airline to offer shareholders a much-reduced outlook for 2025. Union Pacific Corp., North America's largest railroad, is in advanced discussions with Norfolk Southern Corp. about a potential tie-up in what would be the industry's largest deal ever. The Food and Drug Administration won't sign off on Sarepta Therapeutics Inc. bringing its controversial gene therapy back to the market until the company can persuade US regulators that it won't cause more deaths, according to an official familiar with the situation. Dow Inc. slumped after the chemical company reported its first quarterly loss in five years as trade and tariff uncertainties weighed on volumes. T-Mobile US Inc., the nation's second-largest wireless provider, reported more new subscribers than analysts were expecting in the second quarter, overcoming a sluggish start to the year. Chipotle Mexican Grill Inc. cut its annual outlook for the second time this year, suggesting that honey chicken and burrito giveaways haven't been enough to offset a traffic slump that the company attributed to economic anxiety. Blackstone Inc. reported a 25% jump in distributable earnings for the second quarter, buoyed by profits from its retail and evergreen funds. ServiceNow Inc. gave a strong outlook for revenue growth in the third quarter and touted customer adoption of its artificial intelligence software tools. Roche Holding AG is weighing direct-to-patient drug sales in the US, bypassing the middleman for its pricey medicines for multiple sclerosis, eye disease and cancer. Some of the main moves in markets: Stocks The S&P 500 rose 0.2% as of 1:02 p.m. New York time The Nasdaq 100 rose 0.3% The Dow Jones Industrial Average fell 0.5% The MSCI World Index rose 0.3% Bloomberg Magnificent 7 Total Return Index fell 0.3% The Russell 2000 Index fell 1.1% Alphabet rose 0.7% Tesla fell 9.1% Currencies The Bloomberg Dollar Spot Index rose 0.2% The euro was little changed at $1.1762 The British pound fell 0.5% to $1.3511 The Japanese yen fell 0.2% to 146.87 per dollar Cryptocurrencies Bitcoin rose 0.5% to $118,582.31 Ether rose 3.4% to $3,691.61 Bonds The yield on 10-year Treasuries advanced two basis points to 4.40% Germany's 10-year yield advanced six basis points to 2.70% Britain's 10-year yield declined one basis point to 4.62% The yield on 2-year Treasuries advanced four basis points to 3.92% The yield on 30-year Treasuries was little changed at 4.94% Commodities West Texas Intermediate crude rose 0.4% to $65.48 a barrel Spot gold fell 0.6% to $3,366.73 an ounce Burning Man Is Burning Through Cash Elon Musk's Empire Is Creaking Under the Strain of Elon Musk It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan A Rebel Army Is Building a Rare-Earth Empire on China's Border How Hims Became the King of Knockoff Weight-Loss Drugs ©2025 Bloomberg L.P. 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iOS 26 public beta LIVE — Liquid Glass, new iPhone features and latest updates
iOS 26 public beta LIVE — Liquid Glass, new iPhone features and latest updates

Tom's Guide

time24 minutes ago

  • Tom's Guide

iOS 26 public beta LIVE — Liquid Glass, new iPhone features and latest updates

Your iPhone's about to look a little big different — if you're ready to try out Apple's latest software update. The iOS 26 public beta is now available for anyone to download, offering an introduction to the Liquid Glass interface Apple is rolling out across its different devices. Apple first showed off Liquid Glass and iOS 26 at WWDC 2025 in June. The interface is designed to provide a more unified experience across different Apple products, as it's also a part of the iPadOS 26, macOS 26, watchOS 26 and tvOS 26 updates arriving this year. At WWDC 2025, Apple released an iOS 26 developer beta, and after four updates to that release, it's now ready to share the iOS 26 update with the public at large. We've been using the developer beta, and we can help guide you through what's new with Apple's iPhone software. After all, Liquid Glass may take up much of the focus with iOS 26, but it's not the only new addition. There are updates to existing apps, new capabilities like call screening, and — if you have a compatible iPhone — new Apple Intelligence features that further advance Apple's push into AI. You can read my iOS 26 public beta first look for an extensive look at the major changes in this update. And throughout the day, we'll be updating this blog with tips, tricks and any new details we uncover about iOS 26.

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