Apple's AI-Ready iPhone, Goldman Trading Decline & Trump-Harris Showdown

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Apple has introduced the latest version of its flagship device, the iPhone 16, betting it can entice consumers with modest hardware upgrades and AI technology that's still on the horizon. (2) The biggest US banks would face a 9% increase in capital requirements — a dramatic retreat from the original plan — after regulators agreed to sweeping changes to a proposed package of rules, according to people familiar with the matter. (3) Goldman Sachs is signaling a note of caution to investors after posting some of the biggest stock advances among its peers this year. (4) HSBC is weighing combining its commercial and investment bank divisions as part of new Chief Executive Officer Georges Elhedery's push to eliminate overlapping roles across the company and shed expenses. (5) For Wall Street, the faceoff between Vice President Kamala Harris and former President and Republican nominee Donald Trump may add another layer of volatility at a time when uncertainty around the labor market, interest rates and geopolitics is fraying investor nerves. See omnystudio.com/listener for privacy information.