June 5, 2017 / 11:05 PM / a year ago

Business Watch: Apple dives deeper into mobile payments

A few takeaways from Apple’s annual Worldwide Developers Conference:

Tim Cook, CEO, speaks during Apple's annual world wide developer conference (WWDC) in San Jose, California, U.S. June 5, 2017. REUTERS/Stephen Lam

Apple is diving deeper into the business of online and mobile payments, taking on PayPal and apps like Venmo with a new 'peer-to-peer' capability for Apple Pay.

The world's most valuable company has no interested in making a foray into media creation and it's made that clear by adding Amazon Prime Video to Apple TV. However, the deal - long in the making - between Apple and Amazon stands in the way of serving customers, argues Reuters correspondent Jeffrey Dastin.

Augmented reality promises to be a big focus for Apple going forward as the company unveiled a new AR kit that lets developers build apps to roll out on mobile devices with the next iOS software upgrade. 

In other news:

How to avoid an oil slump

When everyone else in the oil industry was going down, a handful of towns managed to escape the slump thanks to a technique that allowed them to steadily pump low-cost oil through the downturn, while also proving an effective way to reduce carbon emissions.

Energy trading with blockchain

Oil majors BP and Eni are starting to run blockchain trades in parallel with their live trading systems, according to developer BTL Group. The technology has, for example, saved the two companies from a mistake in a transaction that would have cost precious time later on.

Dish out

A federal judge in Illinois ordered Dish Network Corp to pay $280 million in penalties to the U.S. government and four states in an eight-year-old “robocall” telemarketing lawsuit.

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