Apple proved skeptics wrong over the weekend by selling more iPhones than ever and nutritionists don't approve of Count Chocula?
Apple sells 9 million new iPhones
Apple released two new iPhones last week in multiple countries around the world, including China. The strategy resulted in record iPhone sales, nearly double the sales of the previous model. According to the New York Times, Apple says it sold 9 million new iPhones over the weekend, this compares to five million iPhones sold last year during the first weekend the device went on sale. The initial supply of iPhone 5S is sold out but stores will continue to receive new shipments. The company did not say how many it sold of each model, however, the more expensive phone was more popular. Sales of the new iPhones topped analysts’ expectations.
Chinese tycoon plans for Chinese “Hollywood”
Wang Jianlin, China’s richest man and chairman of property and entertainment conglomerate Dalian Wanda Group Corp., announced on Sunday that he is breaking ground on a 30-billion yuan ($4.9 billion to $8.2 billion) mega entertainment center. The center will include a theme park, film museum, wax museum and a massive film studio. According to the Wall Street Journal, Wanda has signed agreements with four top global talent agencies to attract talent such as Nicole Kidman and Leonardo DiCaprio and will produce 30 films each year and host annual film festivals. The project is set for a partial opening in 2016.
Gas prices finally drop
The average price of regular gasoline in the US dropped 6 cents a gallon during the past two weeks, according to CNBC. A gallon of regular now costs $3.52 on average. San Francisco has the highest price at $4.01 per gallon and Charleston, SC has the lowest at $3.14.
Greece in talks with Creditors on new bailout
While officials in Greece are pointing to signs of improvement in the economy, they are also conducting talks with international inspectors to set the stage for a third multi-billion euro bailout. The Wall Street Journal reports that after meeting with senior officials from the European Commission, International Monetary Fund and European Bank (known together as the “troika”), it is still unclear whether Greece will have to make additional budget cuts to close a possible $4 billion budget hole next year. The average Greek citizen has not yet felt any benefit from the turnaround and extremism is rising in the country. The size of the third austerity package would be much smaller than the 240 billion of rescue loans already provided to Greece.
Nutrition of Halloween cereals questioned
General Mills is about to roll out its Halloween themed “Monster Cereals” this month, and nutritionists are going on the attack. USA Today reports that nutritionists claim that Count Chocula, Franken Berry, Boo Berry, Frute Brute, and Fruity Yummy Mummy have too much sugar, too many dyes and not enough fiber to be healthy for children. The cereal industry is stagnant at $7.7 billion annually and Halloween themed cereal is a way to create excitement. Six years ago General Mills reduced the sugar in Monster Cereals from 15 grams per serving to 9 grams. Supporters argue that Monster Cereals are only a small portion of the sugar filled items children will eat during the Halloween season.
Catherine S. McBreen is President of Millionaire Corner. McBreen plans and develops content for Millionaire Corner. Catherine balances editorial content to meet the informational needs of both new and seasoned investors. She designs special monthly surveys on topical issues affecting the economic environment.
McBreen has a B.S. in speech communications from Northwestern University and a J.D. from DePail University College of Law. She is a member of the American Bar Association, the Illinois Bar Association, and the Chicago Bar Association.
Well-known for her expertise in the affluent and retirement arenas, McBreen is a frequent speaker at industry conferences. She has been quoted widely by the financial media, including The Financial Times, The Wall Street Journal, Research, Private Asset Management, On Wall Street, Reuters, Bloomberg News, The Dow Jones Newswires and Worth. Cathy has appeared as a guest on CNBC Closing Bell, First Business Morning News, Neal Cavuto at Fox Business News, ABC and CBS radio.
McBreen is co-author with Spectrem President George H. Walper, Jr. of the book "Get Rich, Stay Rich, Pass It On: The Wealth-Accumulation Secrets of America's Richest Families" (Portfolio, January 2008)
Catherine is the mother of four and is involved in many school and community events.