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Published on Sep 7, 2016
It's
Apple's (AAPL) big day. Apple is expected to introduce new versions of the
iPhone and the Apple watch at a media event. It's scheduled in San
Francisco for 1 pm Eastern Time. Apple's iPhone 7 is expected to have a
faster processor, be more water resistant, have a dual lens camera and
no headphone jack. Bill Ackman's Pershing Square has bought a 9.9% stake
in Chipotle Mexican Grill (CMG), worth $1.2 billion dollars. The
investment makes Pershing Square the second largest shareholder of
Chipotle. Reuters says Ackman is talking to management about changes he
believes are needed at the company. Chipotle sales are down after a
series of food borne illnesses outbreaks in 15 states. San Francisco
Federal Reserve President John Williams expects interest rates to rise
but more slowly than at any time in history. He told the Hayek Group
that it makes sense to get back to gradual rate increases, sooner rather
than later.
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