Apple has finally issued an on-the-record apology to WordPress asking them to monetise its free app. Last week, netizens were left in a bit of a shock as they learnt that Apple managed to force WordPress to monetise its free app, The Verge reported. Apple had asked WordPress to sell premium plans and custom domain names in order to get its traditional 30 per cent cut.

As per a report in The Verge, Apple has released an official apology saying -- "We believe the issue with the WordPress app has been resolved. Since the developer removed the display of their service payment options from the app, it is now a free stand-alone app and does not have to offer in-app purchases."

"We have informed the developer and apologize for any confusion that we have caused," it added.

The company is issuing a rare on-the-record apology, and it says that WordPress will no longer have to add in-app purchases now that all is said and done.

Source: ANI/RSS

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Apple hit a market cap of $2 trillion Wednesday, doubling in valuation in just over two years to become the first publicly traded U.S. company to reach the milestone.

Based on a share count of more than 4.275 billion, Apple broke the barrier just before 11 a.m. ET, when its price rose to $467.77. However, Apple fell below the $2 trillion mark as the day moved on, and shares closed at $462.83, giving it a market cap of about $1.98 trillion.

Apple first reached a $1 trillion market cap on Aug. 2, 2018. Wall Street has largely expected the iPhone maker to become the first to surpass $2 trillion. On July 31, Apple passed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company.

It didn’t take long for other tech giants Amazon, Microsoft and Alphabet to match Apple’s $1 trillion market cap.

Apple shares are up about 60% year to date, pushing through the coronavirus pandemic that has battered many companies. In the past year, shares have risen more than 120%. 

The company posted a historically strong third quarter in late July, including $59.7 billion in revenue and double-digit growth in its products and services. Apple saw widespread retail closures during the quarter, especially in the United States but said work-from-home trends and strong online sales boosted overall operations.

While the mark is largely symbolic, it does underscore CEO Tim Cook’s success at changing the company’s story. Investors have started seeing Apple’s business less like other hardware makers and more like a software company, as indicated by Apple’s quickly rising price-earnings ratio, which is now over 33. 

Source: Cnbc

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Facebook's "classic" experience, the interface with the iconic blue navigation bar at the top, is disappearing for good in September.

According to The Verge, Engadget reported that a Facebook support page has been updated and everyone will soon have the new design. Although users can temporarily switch back to the old interface on Facebook's site, the button warns that "the classic Facebook will no longer be available starting in September." The new interface was announced at Facebook's developer conference last year and initially rolled out on the service's iOS and Android apps.

In March, it got a widespread release on desktop, as an opt-in feature, leaving people free to continue using the old design if they want to. However, in September, the old design will disappear.

The Verge reported that the new interface is a big change from what Facebook has used for most of its existence. The new interface is expected to be a lot cleaner and should include a lot more white space, and there's also a dark mode.

Functionally, it also places a bigger focus on the service's Groups features, as well as prominently displaying links to Facebook's Watch, Marketplace, and Gaming sections in its top navigation bar.

 

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