Apple: Watch Set To Discontinue

Apple is set to discontinue the sale of specific Apple Watch models in the United States, a move aimed at proactively addressing a potentially significant patent dispute. Starting this Thursday, Apple will cease the sale of both the Apple Watch Series 9 and Apple Watch Ultra 2, both online on Apple.com and in physical retail stores after December 24.

This decision stems from an ongoing legal dispute with medical device manufacturer Masimo concerning the blood oxygen feature in Apple's smartwatches. In October, the US International Trade Commission ruled that Apple had infringed upon Masimo's patent for a pulse oximeter that utilizes light-based technology to measure blood oxygen levels. The resolution now awaits President Biden's review, with a potential ban looming if the ruling is upheld.

Apple has consistently promoted its smartwatches as life-saving devices, a marketing strategy that has propelled the Apple Watch to global popularity. However, its conflict with Masimo poses a significant challenge to this image and could undermine the watch's reputation.

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NIKOLA: Founder Sentenced To Prison

Nikola's founder, Trevor Milton, found himself sentenced to a four-year prison term on Monday for his involvement in defrauding investors of the beleaguered electric and hydrogen-powered truck manufacturer. Alongside the prison sentence, Milton was also fined $1 million and could potentially face property forfeiture as part of his punishment.

This sentence falls significantly below the 11-year request made by prosecutors during Milton's sentencing in the U.S. District Court in Manhattan, but it represents a notable departure from the probation sentence proposed by Milton's legal team. Prosecutors have underscored Milton's apparent lack of remorse for his actions, highlighting his persistent refusal to accept accountability and his tendency to shift blame onto others.

In October 2022, Milton was convicted on two counts of wire fraud and one count of securities fraud, carrying a recommended prison term of 60 years under federal sentencing guidelines. It's important to note that the judge granted Milton bail to remain free while he appeals his conviction.

US: Military Takes Decisive Action

The United States military has taken decisive action. Defense Secretary Lloyd Austin announced early Tuesday that the U.S., along with a coalition of other nations, will unite to protect commercial ships that have been under attack in the Red Sea by Houthi militants backed by Iran. These Houthi attacks, in solidarity with the Palestinian group Hamas, have targeted over a dozen vessels since the onset of the Gaza conflict in early October.

The gravity of these attacks, some of which resulted in damage to commercial ships, prompted numerous shipping firms and oil companies to instruct their vessels to remain stationary and refrain from entering the Bab el-Mandeb Strait until the security situation could be resolved. These disruptions have negatively impacted the global supply chain. 

Headlines You Need To Know: 🎙

• Shipping giant Maersk to begin reroutings in the Red Sea

• Google to pay $700 million in Play Store settlement

• Swiss regulator calls for more powers after credit collapse

• Chinese company ditches year-end bonus for exercise-based reward

• More than 100 killed in earthquake in NW China

• Tesla wannabes face a cash crunch

• Holiday spending to be up big in 2024

• US ports are getting a $21 billion upgrade

Chart of the Day

📊 The most popular Wikipedia articles show that 2023 was the year of AI.

Commodities Visionary

In the financial world of the 1990s, Jim Rogers emerged as a pioneer and a legend in commodities trading. Rogers made a bold prediction in the early 1990s – the commodities market was on the verge of a massive surge, and he intended to ride this wave to immense wealth. At the time, the global stage was marked by economic uncertainties, including the fall of the Soviet Union, escalating inflation, and geopolitical tensions. These factors created the perfect storm for commodity prices to skyrocket. Jim Rogers, armed with his visionary perspective, keen analytical skills, and unshakable conviction, began constructing a portfolio heavily focused on commodities such as gold, silver, and energy.

With his comprehensive understanding of market trends and a strong belief in the future of commodities, Rogers went on to make a series of strategic investments. He shared his insights and perspectives through interviews and public appearances, notably stating, "I'm long-term bullish on commodities. The world is consuming more than it's producing. It's a simple supply and demand equation."

As the decade progressed, his investments in commodities paid off significantly. Oil prices surged due to increased global demand, and gold became the ultimate hedge against economic uncertainty. Jim Rogers' net worth skyrocketed, and he became a household name in the world of finance, inspiring countless investors to explore commodities.

The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.