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Global Glance: ‘Work to do’ to recover after Irma; iPhone X puts exclamation point on Apple’s pricing strategy



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Here are today’s top business headlines from across the nation and world:

Governor: ‘Work to do’ for Florida to recover after Irma

LOWER MATECUMBE KEY, Fla. (AP) — Parts of Florida inched back toward normalcy with workers restoring power, clearing roads and replenishing gas supplies, even as teams scoured the state’s southernmost islands and authorities warned of mass devastation. Residents drifted back from shelters and out-of-state hotels to see Hurricane Irma’s scattershot destruction. Flooded streets remained, and the count of damaged and totaled homes ticked upward. But positive signs included some curfews being lifted, flights resuming and grocery stores reopening. Read more

iPhone X puts exclamation point on Apple’s pricing strategy

CUPERTINO, Calif. (AP) — Apple has made a luxury iPhone that punctuates its technological swagger with a high-priced exclamation point. And that exclamation point appears to be a sign of things to come. The long-anticipated iPhone X unveiled Tuesday will sell for $999, double what the original iPhone cost a decade ago and more than any other competing device on the market. That’s very much in line with Apple’s long-term positioning of itself as a purveyor of pricey aspirational gadgets. But it’s also a clear sign that Apple is ramping up that strategy by continuing to push its prices higher, even though improvements it’s bringing to its products are often incremental or derivative. Read more

EU chief says block ‘bouncing back’ after crisis-hit decade

BRUSSELS (AP) — The European Union is in a healthier economic state than it’s been for more than a decade and is ready to move on from Brexit, the bloc’s top official said Wednesday. Addressing lawmakers at the European Parliament, Commission President Jean-Claude Juncker said the EU is “bouncing back” after a tough decade that’s seen much of the 28-country mired in an economic crisis and Britain vote to leave. Juncker, whose Commission proposes EU legislation and polices the bloc’s laws, said the EU is into its fifth year of economic recovery, with unemployment at a nine-year low. Read more

American household income finally topped 1999 peak last year

WASHINGTON (AP) — In a stark reminder of the damage done by the Great Recession and of the modest recovery that followed, the median American household only last year finally earned more than it did in 1999. Incomes for a typical U.S. household, adjusted for inflation, rose 3.2 percent from 2015 to 2016 to $59,039, the Census Bureau said. The median is the point at which half the households fall below and half are above. Last year’s figure is slightly above the previous peak of $58,665, reached in 1999. It is also the first time since the recession ended in 2009 that the typical household earned more than it did in 2007, when the recession began. Read more

Police arrest CEO of world’s largest meatpacker

SAO PAULO (AP) — Police have arrested the CEO of the world’s largest meatpacker on suspicion of manipulating financial markets. Police and a representative of meatpacking giant JBS say Wesley Batista was taken into custody on Wednesday in Sao Paulo. Batista and his brother Joesley, the former chairman of JBS, have both entered plea bargain agreements in which they testified that JBS paid bribes to scores of politicians, including President Michel Temer. Temer denies wrongdoing. Read more

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