(CNN) — After years of releasing smartphones with four-figure price tags, Apple is reintroducing a lower-cost, stripped down iPhone model in an apparent effort to broaden its customer base.
During a virtual presentation with reporters on Wednesday morning, a new normal for tech launches during the global pandemic, the company announced a new version of the iPhone SE, which launched in 2016. The second-generation SE model starts at just $399, far less than the entry-level iPhone 11, which costs $699, and the iPhone 11 Pro Max, which starts at $1099.
Many things are taking place:
A simple plan can get you through the quarantine with your cash intact
"It can emphasize everything we are giving up, which kicks in loss aversion," said Mariel Beasley, co-founder of Common Cents Lab, a financial research group at Duke University in Durham, North Carolina.
You may think there are millions of ways to do it and you'll worry you're making the wrong decisions, which can lead to fretting about the regret you will feel. It really may feel easier not to do it at all.
Research suggests people are even less likely to sit down with their finances when they're not doing well. "The ostrich effect," Beasley said. "When we fear things are bad, we prefer to bury our heads in the sand as a way of avoiding confirming how bad things are."
ConocoPhillips cuts production, deepens budget cuts - HoustonChronicle.com
Houston oil major ConocoPhillips plans to cut nearly one-fifth of its oil production and an additional $3 billion from its budget as the price of U.S. crude settled below $20 per barrel.
The Houston oil giant, which had been pumping almost 1.3 million barrels of crude per day, will cut that by 225,000 barrels, or 17 percent.
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ConocoPhillips said in mid-March, when oil prices slipped below $30, that the company would cut $2.2 billion from its budget. The additional cuts mean that the company has cut $5.2 billion from its overall budget.
COVID Recession: A 25% Revenue Decline For Avis Budget Group Would Consume $1 Billion In Cash In
A picture taken on June 14, 2011 in the western city of Caen shows the logo of Avis. Car rental ... [+] group Avis Budget has agreed to buy out rival Avis Europe for £636 million ($1.0 billion, 721 million euros), the pair announced on today. AFP PHOTO KENZO TRIBOUILLARD (Photo by Kenzo TRIBOUILLARD / AFP) (Photo credit should read KENZO TRIBOUILLARD/AFP via Getty Images)
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Avis Budget Group can weather a recession through late Q2 2020 and the 25% decline in revenues by cutting capital expenditures, share repurchases, and going ahead with its planned ~$1 billion cash raise.
Quite a lot has been going on:
West Chester acts to balance budget and pay for health insurance | | dailylocal.com
Coronavirus leaves L.A. facing a new financial crisis - Los Angeles Times
Even before the arrival of the coronavirus outbreak, Los Angeles city leaders had been facing a budget crunch, in large part because of new pay raises and increased benefits for the city workforce.
Now, the shutdowns triggered by a global health crisis have unleashed a new and potentially more dire financial threat, endangering the city's ability to maintain existing public services.
Mayor Eric Garcetti, who is preparing to release his proposed 2020-21 budget next week, has begun looking at the possibility of pay cuts and furloughs for city workers who don't work in the police and fire departments, one city official said. During his coronavirus briefing Wednesday, the mayor said he and the city's budget analysts are working to protect as many core services as possible.
WWE Superstars released in surprising coronavirus-impacted budget cuts
World Wrestling Entertainment announced on Wednesday it had released a number of its wrestler-performers.
Among them: Drake Maverick, Zack Ryder, Curt Hawkins, Karl Anderson, Luke Gallows, Heath Slater, Eric Young, Rowan, Sarah Logan, No Way Jose, Mike Chioda, Mike Kanellis, Maria Kanellis, EC3, Aiden English, Lio Rush, Primo and Epico.
Kurt Angle, the WWE Hall of Famer who retired and had been working backstage as a producer, was also let go.
Hertz seeking coronavirus bailout, bracing for budget shortfalls | Fox Business
Thornburg Investment president and CEO Jason Brady explains how the coronavirus relief bill will impact the economy and how important it is to get unemployed people back to work.
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Hertz is hoping to cash in on the coronavirus bailout package as the car rental and sales company is expecting to be short at least $1 billion in future months as a result of new coronavirus -caused business shortfalls , the New York Post reported .
Happening on Twitter
BREAKING: Apple unveils second-generation iPhone SE, which will cost $399. It's the first time the tech giant has l… https://t.co/39UNbmteAz CNBCnow Wed Apr 15 15:00:35 +0000 2020
Apple has debuted a smaller, cheaper iPhone SE. The model features a new and improved processor and camera as well… https://t.co/IlsrPltsVi NPR Wed Apr 15 23:04:06 +0000 2020
After years of rumors, Apple has finally launched the 2020 #iPhoneSE, with the new $399 model offering a much-neede… https://t.co/gDRxs37mBd appleinsider (from Cupertino, California) Wed Apr 15 15:06:20 +0000 2020
BREAKING: *APPLE UNEXPECTEDLY UNVEILS NEW $399 IPHONE SE $AAPL https://t.co/qOhbyJcruT Investingcom (from Global) Wed Apr 15 16:10:18 +0000 2020
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