Stock markets teeter as investors worry about slowing economies; Apple iPad event at 10 am PT
Zinio and Next Issue Media release first iOS 8-related updates for their digital newsstands apps, adding new features, fixing bugs
European stock markets fell hard again today as investors pulled back in the face of bad economic news. Yesterday, U.S. markets fell hard, with the Dow over 460 points at one point, before stocks recovered some of their losses before the close.
The German DAX was down over 100 points in early afternoon trading, and the French CAC 40 was down almost 2 percent. Both indices are now down over 12 percent in the past month. With the falling stock prices investors are rushing to treasuries, dropping the price of the 10-year note to below 2 percent and the 30-year note to 2.78 percent.
Newspapers, such as The Guardian, are once again live blogging the markets – something that is never a good sign. The Guardian blogger also is reminding readers that October is a month a nasty track record, being the month of the 1929 crash, as well as the Black Monday crash of 1987.
What is driving the stock market pull back? Concern that the European are faltering, with very low inflation giving rise to fears of deflation. With many political leaders in Europe and the U.S. still preaching austerity, there is nothing to drive employment and income growth. Some readers on the NYT website are actually advocating more austerity to drive the economy into a depression, to clean out the system, they argue (an argument used at the beginning of the Great Depression, it should be noted).
For publishers, none of this is good news. Ad pages tumbled following the fiscal crisis of 2007-8. Ad pages for U.S. B2B publishers, for example, fell nearly 30 percent in 2009. They have never really recovered, though at least the losses have moderated. The last thing many publishers need to see now is the economy slipping back into recession (or worse).
Apple will hold its iPad event today at 10am PT.
Many tech and rumor sites were excited to discover that Apple had inadvertently revealed new models of iPads in a user’s guide it published to the iBooks Store – as if we didn’t all know that Apple intended to introduce new iPad models at its iPad event. (What must these companies think of the media when they see such nonsense?)
As with most Apple events, it is not the main product introductions that prove to be the most important parts of the event. At September’s iPhone event Apple chose to take up much of the event with a preview of its iWatch – the first time in memory that Apple chose to spend time unveiling a product that it wasn’t prepared to ship.
Today, many expect that along with new iPads will come a date for releasing the next generation of the Mac operating system, OS X Yosemite. It will also confirm the date that Apple Pay will go live. But what else?
It would be nice to hear something about iBooks Author, but that is unlikely. It might also be nice to hear something about the iTunes App Store and the Newsstand. But none of these things seem to be on Apple’s radar. But there will have to be something as the rumors about the new iPad models, if proved true, will likely disappoint both the media, and most importantly, consumers.
Zinio released version 3.0 of its iOS digital newsstand app. This release is the first since the launch of iOS 8 and features new search capabilities.
The release also brings back the International Stores setting, something that other newsstands might consider.
Yesterday, Next Issue Media released its first update to its digital newsstand app, Next Issue, since the release of iOS 8, changing the name of the Personalized Library to Favorites.