TECH

Apple offers cheaper

iPhones, video service

Apple unveiled new iPhones Tuesday that are largely unchanged from previous models and accompanied by a price cut for the cheapest model.

The company's new models similar to last year's lineup may be upstaged by Apple TV Plus, the company's upcoming video service, which is rolling out on Nov. 1 at $5 per month.

IPhone shipments are down 25% so far this year, according to the research firm IDC. Revenue from services rose 14% to nearly $23 billion during the first half of this year.

It is cutting the price of the iPhone 11 to $700 from $750, the price of last year's XR.

EDUCATION

Trump announces help

for some black colleges

President Donald Trump announced Tuesday that the government will no longer restrict historically black colleges and universities that have a religious mission from accessing federal funding for capital projects. Trump says a recent Justice Department legal opinion declared such "discriminatory restrictions" to be unconstitutional.

The president said at a conference on historically black colleges and universities in Washington that faith-based HBCUs will now be able to enjoy "equal access" to federal support.

Trump praised HBCUs as "pillars of excellence" and said his administration is "deeply devoted" to seeing that they prosper.

RETAIL

Wexner 'embarrassed'

by former Epstein ties

The CEO of Victoria's Secret parent L Brands says he is "embarrassed" by his former ties with financier Jeffrey Epstein.

Les Wexner delivered the remarks during his opening address Tuesday at the company's annual investor day in Columbus.

Epstein was arrested in July on federal sex-trafficking charges. He killed himself in jail in August while awaiting trial.

Wexner has said he completely severed ties with Epstein nearly 12 years ago. Epstein started managing Wexner's money in the late 1980s.

EUROPE

Big Tech 'nemesis' gets

new term, more power

The European Union's competition chief is getting a new term — with expanded powers — in a move that underlines how the bloc's battle to regulate big tech companies is only just beginning.

Margrethe Vestager, who has imposed multibillion-dollar penalties on the likes of Google and Apple, was reappointed Tuesday for a second five-year term.

LAWSUITS

States sue SEC, say

rules hurt investors

Seven states and the District of Columbia have sued the Securities and Exchange Commission, saying the regulatory agency is putting investors in jeopardy by relaxing rules for brokers.

The lawsuit filed Monday in Manhattan federal court asks a judge to force the agency to scrap new rules it contends relax protections for consumers. The states say they are harmed because bad investment advice leaves consumers with less money to spend.