Tuesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.
iPhone
Apple says it will release a 5G phone in 2020 with chips from Qualcomm and Samsung.
A 5G equipped iPhone with a faster cellular internet connection would give consumers a reason to upgrade from older models as iPhone sales growth stalls.
5G promises to offer super-fast internet connections.
Apple Pay
Department store chain JCPenney said in a statement that it will no longer support Apple Pay in its stores or mobile app.
It didn’t give a reason for the decision.
Some customers of the retailer say they will take their business elsewhere.
Netflix
Netflix said it will start sharing more viewership data with the producers behind its originals.
It’s a change in strategy for Netflix as it faces more competition from Disney, Apple and others.
Viewership data gives talent leverage when renegotiating contracts for later seasons of TV shows.
Gas prices
Gas and oil prices soared Monday as President Trump says he’ll end Iran sanction waivers, making it harder for them to sell oil on the world market.
Gas prices hit $4.70 a gallon in California on the news.
Iran is the world’s fourth largest producer of oil.