Apple unveils souped-up, more expensive low-end iPhone for about $600

Apple has released a sleeker and more expensive version of its lowest priced iPhone in an attempt to widen the audience for a bundle of artificial intelligence technology that the company has been hoping will revive demand for its most profitable product lineup.

The iPhone 16e unveiled Wednesday is the fourth generation of a model that’s sold at a dramatically lower price than the iPhone’s standard and premium models. The previous bargain-bin models were called the iPhone SE, with the last version coming out in 2022.

The iPhone 16e includes the souped-up computer chip needed to process an array of AI features that automatically summarize text, audio and create on-the-fly emojis while smartening up the device’s virtual assistant, Siri. It will also have a more powerful battery and camera.

All those upgrades add up to a starting price of $600, a 40% increase from $430 for the last iPhone SE. But iPhone 16e will be more affordable than the cheapest standard iPhone 16 at $800. It will be available in stores Feb. 28, with pre-ordering on Friday.

The 16e has a 6.1-inch display screen, slightly larger than the 4.7-inch display on SE model and no longer has a home screen button.

Federal Reserve’s January minutes signal rates will hold until inflation improves

Federal Reserve officials in January expressed their readiness to hold interest rates steady amid stubborn inflation and economic policy uncertainty.

“Participants indicated that, provided the economy remained near maximum employment, they would want to see further progress on inflation before making additional adjustments to the target range for the federal funds rate,” minutes from the Federal Open Market Committee’s Jan. 28-29 meeting showed.

The minutes, released Wednesday in Washington, said “many participants noted that the committee could hold the policy rate at a restrictive level if the economy remained strong and inflation remained elevated.”

Policymakers are also watching the rollout of President Donald Trump’s economic policy plans and how they might shape the economy.

Trump is pushing an agenda that includes an increased use of tariffs on U.S. trading partners and an immigration crackdown, both of which could affect the outlook for inflation, the labor market and economic growth.

Delta: veteran pilots were in Canada crash

Delta Air Lines CEO Ed Bastian said Wednesday that the pilots in the crash-landed Delta Connection Flight 4819 were experienced in flying through winter weather conditions like those seen at Toronto Pearson International Airport on Monday afternoon.

“All these pilots train for these conditions. They fly under all kinds of conditions at all of the airports in which we operate. So, no, there’s nothing specific with respect to experience that I’d look to,” Bastian said.

Given the ongoing investigation, Bastian noted his comments would be limited on the crash.

Although the footage of the terrified passengers and wreck was “horrifying,” Bastian described the outcome — all passengers and crew escaping without serious injury — as a testament to the safety of the aircraft and the training of its operators. Bastian heralded the work of the Endeavor crew members, saying they “performed heroically but also as expected.”

Canadian authorities with the Transportation Safety Board are investigating the crash, with assistance from U.S. stakeholders and investigators.

Compiled from Associated Press, Bloomberg and Minnesota Star Tribune reports.