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How About Them Apple?

TLDR
MARKET RECAP → Stocks climbed Wednesday as easing U.S.-China trade tensions lifted investor sentiment, and President Trump signaled no immediate plans to oust Fed Chair Jerome Powell.
APPLE AI ADS UNDER FIRE → 📱 Apple (AAPL) got called out for overpromising AI features in iPhone 16 ads that weren’t actually available, leading to pulled ads, revised taglines, and a warning from regulators not to jump the marketing gun again.
ELLIOTT TAKES AIM AT BP → 📉 BP shares popped after Elliott revealed a 5% stake, betting big that doubling down on oil—not climate goals—will fuel a turnaround.
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TODAY’S TOP NEWS
Apple AI Ads Under Fire
📱 Apple (AAPL) was flagged by the National Advertising Division for promoting iPhone 16’s AI features as “available now,” despite delays in their actual rollout. The watchdog said consumers weren’t properly informed that features like improved Siri and image generation weren’t ready at launch.
🤖 Apple pulled the “More Personal Siri” ad, updated its marketing to say “AI for the rest of us,” and agreed to follow NAD’s recommendations — all while facing class-action lawsuits over misleading advertising.
💬 Despite the stumble, Apple Intelligence is now live on most new iPhones. A Morgan Stanley survey showed that over half of iPhone users would pay $10+ per month for the AI tools, signaling strong demand if Apple gets the rollout right.
TODAY’S TOP NEWS
Elliott Takes Aim At BP
📈 BP (BP) shares jumped after Elliott Management disclosed a 5% stake, signaling pressure to double down on fossil fuels.
🛢️ The hedge fund's involvement coincided with BP scrapping deeper climate goals and pledging $10B into oil and gas through 2027.
🔍 Analysts welcomed the pivot as BP lags behind Shell and U.S. rivals—though takeover chatter and investor unrest still loom large.
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