Wednesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.
iPhone
Apple announced four new iPhones in a virtual event on Tuesday – the iPhone 12, the iPhone 12 Pro, the iPhone 12 Pro Max and a new, smaller iPhone 12 mini. All the phones are 5G equipped, meaning they can connect to the next generation high-speed wireless networks.
The mini is the cheapest at $699.
The 12 Pro Max, featuring Apple’s biggest ever smartphone display is 6.7 inches, will start at $1,099.
The iPhone 12 and 12 Pro will be available for pre-order on Oct. 16 and in store on Oct. 23. The iPhone 12 mini and 12 Pro Max will be available for pre-order on Nov. 6 and in store on Nov. 13.
Facebook will start banning ads that explicitly discourage people from getting vaccinated.
Ads advocating for or against legislation or government policies around vaccines, including a COVID-19 vaccine, will still be allowed, the company said in a blog post. It will begin to enforce the new global policy in the next few days.
Summer travel
The summer travel season was even worse than expected for Delta Airlines, which lost $5.38 billion in the third quarter.
Most of the loss stemmed from the cost of paying people to quit and writing down the value of assets including planes destined for resale or the scrap yard. The rest was linked to a 76% plunge in revenue.
Lilly
Eli Lilly and Company shares fells as the testing a possible antibody treatment for COVID-19 by the drug giant put on hold over a “potential safety concern.”
A participant fell ill.
The development comes a day after Johnson & Johnson announced it was halting its trials on a possible coronavirus vaccine because a person taking park in one of them had become ill.