According to data from IDC, in the first quarter of 2024, Apple’s smartphone shipments witnessed a 10% decline, falling to 50.1 million units from 55.4 million a year earlier. This drop was attributed to increased competition from Android manufacturers, with Samsung reclaiming the top spot as the world’s leading phone maker. Thanks to robust sales of its Galaxy S24 series, Samsung’s market share rose to 20.8%.

Meanwhile, Apple slipped to second place with a 17.3% market share, despite a strong performance in the previous quarter. Chinese brands like Huawei continue to expand their presence, intensifying the competitive landscape. Xiaomi remains in third place, holding a 14.1% market share.

The overall global smartphone market grew by 7.8%, totaling 289.4 million units shipped in the January-March period. Apple’s challenges were particularly pronounced in China, where its shipments dipped by 2.1% in the last quarter of 2023 amid local restrictions on the use of its devices.

As Apple gears up for its Worldwide Developers Conference (WWDC) in June, the tech community is eagerly anticipating updates on its software and potential advancements in artificial intelligence integration. These developments are closely watched by investors, especially after Apple recently lost its title as the world’s most valuable company to Microsoft.

The pandemic’s impact on late-night dining and retail operations can still be felt years after its onset. Yelp statistics indicate a significant decline in 24-hour service availability, with restaurants experiencing an 18% drop in 24-hour operations from 2020 to 2024. Notably, New York City saw a 13% reduction in its 24-hour restaurants.

This trend extends beyond eateries to retailers, pharmacies, and gyms, which haven’t resumed 24-hour operations since the Covid-19 took hold in America. The change reflects shifts in consumer behavior, including preferences for earlier dining and decreased late-night alcohol consumption, as well as increased labor and food costs which force establishments to curtail hours.

While approximately half of IHOP’s locations and 75% of Denny’s restaurants are resuming 24-hour service on weekends, the overall landscape for 24/7 operations remains challenging, due to concerns about staffing difficulties and public safety.

Despite these obstacles, the desire for 24/7 service remains, evidenced by the enduring appeal of late-night dining as a cultural symbol in America. The transition back to pre-pandemic levels of late-night activity will likely depend on a resurgence of nightlife and events that drive demand for such services.

Cocoa prices have skyrocketed to new levels, outpacing bitcoin and some precious metals in value growth. The surge reached its peak just before Valentine’s Day, with prices topping $10,000 per metric ton. This marked a significant jump from the 1977 record of $5,400. This increase has added a premium to chocolate products, including seasonal items like Easter bunnies.

The primary cause of this price surge is a supply deficiency, due to adverse weather conditions and climate change impacts in West Africa, the world’s leading cocoa-producing region. This has led to consecutive years of reduced harvests, urging prices upward as manufacturers and retailers grapple with the rising costs.

The supply crunch is exacerbated by the challenges of ramping up production in other regions. The global cocoa supply is projected to decline by nearly 11%. Speculative trading has further inflated prices, suggesting that high cocoa costs may persist.

Chocolate makers are adapting by increasing prices and downsizing their products. As a result, consumers are facing higher prices for chocolate goods. Nonetheless, chocolate remains a sought-after indulgence.

This situation underscores the urgent need for sustainable cocoa farming practices to ensure stable supply and fair compensation for growers.

Trader Joe’s has increased the price of its iconic 19-cent bananas to 23 cents. After more than two decades of price stability, this 20% hike reflects rising costs that are being felt across the nation.

While food inflation has been somewhat moderated, the impact on household grocery bills remains tangible. Trader Joe’s 19-cent banana has long stood as a testament to the store’s commitment to affordability, earning it the title of customers’ favorite produce item. Bananas, in general, have been an economical choice for Americans, thanks to competitive market dynamics and their role as a “loss leader” to attract shoppers.

While the Bureau of Labor Statistics notes that banana prices have remained fairly consistent at 62 to 64 cents a pound from February 2023 to February 2024, the World Banana Forum has issued warnings about potential price increases due to climate change. Nonetheless, Trader Joe’s has managed to reduce prices for other products, like almonds and bell peppers, showcasing its effort to balance affordability with cost pressures.

On his podcast, Inside Trader Joe’s, former CEO Dan Bane recounted the conversation that inspired him to sell individual bananas. Bane asked an elderly customer why she decided not to purchase a bag of bananas, and she responded, “Sonny… I may not live to that fourth banana.” The store has sold bananas individually from that day on.

The United States is celebrating the inauguration of its first commercial-scale offshore wind farm. This marks a significant milestone in the nation’s journey towards sustainable energy. Located east of Montauk Point, New York, the South Fork Wind farm was developed by Danish energy giant Ørsted and utility company Eversource. It comprises 12 turbines, capable of transforming wind into clean electricity. In a ceremony on Long Island, New York, Governor Kathy Hochul symbolically activated the wind farm, signifying a giant leap forward in clean energy production.

This pioneering project showcases America’s commitment to combating climate change, and sets the stage for the expansion of offshore wind energy, which is essential for achieving a carbon-neutral future. The Biden administration has already endorsed six commercial-scale offshore wind initiatives and has introduced new offshore wind lease areas, underscoring their determination to embrace renewable energy.

South Fork Wind’s 132 megawatts of capacity will power over 70,000 homes. Governor Hochul emphasized the historic significance of this achievement, envisioning it as a turning point that future generations will remember.

The United States is awaiting the completion of its second large offshore wind farm in Massachusetts.