5 Most Important Things in Business Today

September 12, 2017 by Douglas A. McIntyre

Apple Inc. (NASDAQ: AAPL) will launch new iPhones. Rumors are that there will actually be three. The first will be the iPhone 8, the next the iPhone 8 Plus and the final an advanced version called the iPhone X.

China has set regulations to close Bitcoin exchanges in the country. The decision could knock down Bitcoin values because the size of the market is key to the future of the new currency.

The United Nations approved a number of sanctions against North Korea. However, the deal was short of U.S. pressure for more restrictions.

Volkswagen will continue to gamble its future on diesel more than electric cars. According to CNBC:

 “The diesels we are offering today are clean. They comply with the Worldwide Harmonised Light Vehicle Test Procedure (WLTP) requirements and they meet the requirements and needs of our customers,” Matthias Mueller, CEO of VW, told CNBC at the Frankfurt motor show.

Mueller explained that VW plans to continue to develop diesel cars, despite a global pushback against the technology by regulators and governments since the emissions scandal.

“There’s going to be a co-existence between combustion engines and electrified drive systems over the next 10 to 20 years, so against this background we should all be patient and relaxed and leave the decision to our customers, they should decide which concept they prefer,” he told CNBC during an interview recorded on Monday.

It will be some time before large refineries in Texas recover from Hurricane Harvey. According to CNNMoney:

Hurricane Harvey packed such a powerful punch that more than a dozen Gulf Coast oil refineries are still hurting two weeks after the storm struck Texas. Five oil refineries remain shuttered as of Monday, according to S&P Global Platts, an energy research firm. Ten more are partially shut down as they attempt to recover from historic flooding. All told, about 2.4 million barrels of daily refining capacity in Texas is offline because of Harvey, Platts estimates. That is about 13% of the country’s total ability to turn oil into gasoline, jet fuel and other products.