CNBC.com’s Pippa Stevens brings you the top business news headlines of the day. On today’s program, CNBC’s Bob Pisani picks up on SEC President Gary Gensler’s comments to the Senate Banking Committee on Cryptography. In addition, Apple introduces its latest iPhones.
Senators call on SEC President Gary Gensler for guidance on cryptocurrency regulation
Securities and Exchange Commission Chairman Gary Gensler assured lawmakers Tuesday that top Wall Street regulator is working overtime to create a set of rules to oversee volatile cryptocurrency markets while balancing the interests of North American innovators. Americans.
Gensler told the Senate Banking Committee that he and his team are trying to protect investors by better regulating thousands of new digital assets and currencies, as well as overseeing the best-known bitcoin and ether markets.
The SEC chief noted the enormity of the task, and told Sen. Catherine Cortez Masto, D-Nev., That the regulator could use “many more people” to evaluate the 6,000 new digital “projects” and determine if they all qualify as securities under U.S. law.
Apple Emphasizes iPhone 13 Battery Improvements to Keep Sales Boost High
Apple announced new iPhone models on Tuesday, according to the company’s annual tradition ahead of the holiday shopping season.
The new models, called the iPhone 13, are not major advances over last year’s models.
Last year’s models got 5G connections and a new flatter design. This year’s four new models look similar, feature the same screen sizes, have faster processors, and include new photo features aimed at skilled users.
But Apple did present – and highlighted – an improvement that everyone who takes the new models will appreciate: longer battery life.
The emphasis on increasing battery life during Apple’s launch event highlights the challenges the company faces: it is expected to launch a materially better device each year to drive growing sales in a maturing market, where major advances are becoming less frequent.
Solar prices rose in the second quarter, reversing recent trends in material costs and supply chain problems
According to a report released Tuesday by the Association of Solar and Wood Mackenzie Industries, the solar industry is among many sectors experiencing some higher prices.
Prices rose quarter-on-quarter and year-on-year in all solar segments during the period. This is the first time that residential, commercial and utility solar costs have risen jointly since the energy consultancy began tracking prices in 2014.
The most important cost pressures came from a jump in commodity prices, including steel and aluminum. High shipping costs also played an important role. Most of these impacts will likely begin to show up in 2022, as many companies have enough inventory to see them by the end of the year, according to the report.