Good morning! Here’s what you need to know on Wednesday.
1. Apple shipped 74.78 million iPhones in the holiday quarter of 2015, falling short of analyst expectations of 75 million iPhones shipped. The big question now is whether iPhone unit shipments will decline in the current quarter, as many analysts expect could happen.
2. According to CEO Tim Cook, a major factor in the company’s miss was “the turbulent world around us,” which is making it more expensive for Apple to sell its products overseas. “We’re seeing extreme conditions unlike anything we have ever experienced before,” Cook said.
3. Chinese industrial profits fell heavily in December, declining 4.7% from a year earlier according to data released by China’s National Bureau of Statistics. The drop, the seventh in a row, marks the steepest decline in profitability since August 2015.
4. The Danish parliament passed a hugely controversial bill on Tuesday that aims to deter people from seeking asylum in Denmark. The bill includes delaying family reunification for up to three years and seizing refugees’ possessions that are worth more than 10,000 Danish krone (£1,000/$1,430).
5. South Korea said on Wednesday it suspected North Korea of attempting cyber attacks against targets in the South, following a nuclear test by the North this month that defied United Nations sanctions.
6. Google’s secretive drone delivery project could include a component designed to store packages securely. A patent filed Tuesday in the United States by the company, a unit of Alphabet Inc, describes a “delivery receptacle” designed to take packages from an “aerial delivery device” for deposit to a secure location.
7. Ammon Bundy, the leader of the Oregon “militia” currently occupying the Malheur National Wildlife Refuge in eastern Oregon, has been arrested, according to a statement by the FBI. The standoff in Oregon began on January 2.
8. Journalists at the Financial Times appear to be getting ready to strike over a pensions dispute. A report from the National Union of Journalists (NUJ) suggests the disagreement stems from “management’s refusal to honour pension commitments.”
9. Kevin Weil, one of the handful of top executives who recently resigned from Twitter, is heading to Instagram to lead product, Re/code’s Kurt Wagner reports.
10. President Barack Obama’s 2012 campaign manager Jim Messina has been hired by the “remain” campaign to try and keep Britain in the European Union at the upcoming EU referendum. Messina is known for his innovative use of technology.
NOW WATCH: We tested an economic theory by trying to buy people’s Powerball tickets for much more than they paid
Business Insider Emails & Alerts
Site highlights each day to your inbox.