Apple aims to break new ground with Watch!

Apple will unveil its first Watch on Today, bidding to produce a second product that, like the iPhone, redefines how millions interact with computers, smartphones and the internet.

Top of the range models in 18ct gold could cost as much as $10,000 (£6,700), with Apple reportedly expecting to sell a million per month by late summer. Basic models, offering identical functionality, are expected to start at $349, and total sales are expected to surpass 10m by the end of the year.

Chief executive Tim Cook previewed the Watch last year in Cupertino at the same venue where Steve Jobs unveiled the original Mac, with the company doing nothing to dampen fans’ expectations in the process.

Last week Mr Cook told the Telegraph he expected the device would eventually replace a user’s car keys, just as it will be able to replace some credit and debit cards as well as hotel room keys when it launches next month.

The new device will, however, primarily be marketed based on the health-tracking benefits it offers, as well as the time it will save people looking at other electronic devices. It will also make a virtue of its accurate timekeeping, seeking to appeal to an age group where Mr Cook acknowledges many have stopped wearing watch altogether. Much of this will come from gimmicks such as the ability for users to send each other heartbeat-style and tiny digital notes.

Analysts at Forrester believe 20 million people in America alone are “inclined to buy something new from Apple” and that this gives the company “an easy shot at converting 10 million people to buy Apple Watch between the US and international markets.”

More than 1m people could pay well over $1,000 for the Watch, marking Apple’s transition into a mass-market luxury brand, timed perfectly to coincide with the increasing homogenisation of smartphones.

Almost a third of European adults say they are intrigued by the idea of so-called wearable technology, and a third of those say the wrist is the best place for it. Half of all interactions with a mobile phone are quick glances, and Apple believes the Watch will replace the phone for many of those purposes, while also making an iPhone itself a more essential device.

Apple set to join Dow Jones replacing AT&T

Apple, the biggest US company by market value, will be included in the Dow Jones Industrial Average from 19 March.

It replaces AT&T, which first joined the US stock market barometer in 1916.

Despite being one of the most successful US firms, Apple was excluded from the Dow because its high stock price would have distorted the price-weighted index.

But a change in the structure of Visa shares, which is in the same sector, has made room for the iPhone maker.

From 18 March, Visa shares will be split four-for-one, which reduces the weighting of the information technology sector in the overall index.

"As the largest corporation in the world and a leader in technology, Apple is the clear choice for the Dow Jones Industrial Average," said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices.

Apple's own seven-for-one stock split last June also helped pave the way for it to join the Dow Jones.

The Dow Jones Industrial Average is calculated by taking the sum of the share prices of its 30 stocks and dividing the total by a number known as the Dow Divisor.

The divisor is continually adjusted to accommodate structural changes to companies and to maintain continuity.

Scotiabank profit misses expectations, shares drop

(Reuters) - Bank of Nova Scotia BNS.TO posted a lower-than-expected quarterly profit on Tuesday, hurt by an increase in credit-loss provisions and higher expenses, sending its shares down about 1.6 percent.

The results at Scotiabank, Canada's No. 3 lender, round out a mixed quarter for the country's big banks, with Royal Bank of Canada RY.TO and Canadian Imperial Bank of Commerce CM.TO topping profit expectations, Bank of Montreal BMO.TO falling short, and Toronto-Dominion Bank TD.TO basically in line.

The group's results were the focus of much market attention as investors tried to gauge the impact of the oil-price slump and a sluggish economy on performance.

Scotiabank’s provisions for credit losses jumped 30 percent to C$463 million ($369.8 million) in its first quarter, ended Jan. 31, and noninterest expenses rose about 3 percent.

Loans outstanding to corporate clients in the oil-and-gas sector were C$15.4 billion, up 20 percent from the fourth quarter, despite low oil prices.

"It's a bit worrisome," Edward Jones analyst James Shanahan said. "If that meant that they are making large, incremental bets on the oil-and-gas sector, that makes me a little bit nervous."

Chief Risk Officer Stephen Hart said the bank’s “oil-and-gas exposure is manageable”.

“Any stress losses would leave the bank within our risk tolerances for both capital and loan loss provisions and would not affect our ongoing strategies,” he said on a conference call.n from 12 million. The buyback program will end May 29.

It also raised its quarterly dividend to 68 Canadian cents per share from 66 Canadian cents.

And the World’s Richest Man Is…

                                    

Forbes' annual rich list is out

Microsoft founder Bill Gates is still the world’s richest man.

Worth $79.2 billion, Gates kept his spot at the top of the2015 Forbes Billionaires List, while Mexican business magnate Carlos Slim Helu, worth $77.1 billion, clocked in again at No. 2. Warren Buffett, worth $71.3 billion, swapped places with Spanish fashion exec Amancio Ortega, worth $66.4 billion, with Buffett in No. 3 and Ortega in No. 4.

While the richest stayed the richest, the 1,822 other billionaires onForbes‘ list contained new 290 newcomers, with 71 of these newly minted billionaires coming from China. The list also features a record-breaking 46 billionaires under the age of 40, including first-time billionaires Uber CEO Travis Kalanick, 38, and the founder of the health tech company Theranos, Elizabeth Homes, 31, the youngest self-made woman on Forbes‘ list.

Xiaomi launches cheap action camera

Chinese smartphone maker Xiaomi has launched a cheap action camera that costs only 399 yuan (£41).

The Yi Action Camera shoots video in 1080 high-definition, has a 16 megapixel camera and a wide-angle lens.

The device can also be used to make time-lapse films and is waterproof to depths of 40m.

The gadget could provide competition for Go Pro whose entry-level devices cost more than twice as much but are not as well equipped.

The device can be paired with a smartphone so it can be controlled remotely and to help share any video or images it captures.

However, available accessories for the Yi suggest it is more designed for domestic use than for people keen to film themselves taking part in extreme sports. So far, extras for the Yi include a selfie stick and a harness that allows it to be attached to a helmet, bike or even a cat.

In addition, the Yi's case is not toughened to withstand the knocks common when cameras are used outdoors or for sports.

The device is currently only available in China but Xiaomi is planning to open an online store that will let people outside the country buy some of its products directly.

Stuart Miles, founder of gadget site Pocket-lint, said the device was entering a market that was full of Go Pro "wannabes" and could struggle to find buyers.

"Go Pro has brilliant traction within the action junkie audience, and more importantly its devices work amazingly whether that's being attached to someone going for a run or jumping out of a spaceship," he said.

"That loyalty isn't something that can be replaced with a cheaper price," he added.

Sony and Microsoft focus on mid-range smartphones at MWC

Sony and Microsoft have opted to unveil mid-range smartphones at the Mobile World Congress trade fair in Barcelona.

Microsoft indicated it would wait until the release of Windows 10 to announce a new flagship, despite its high-end Lumia 930 dating back to April 2014.

Sony's Xperia Z3 is less old, having launched in September. But the firm had previously refreshed its top model roughly once every six months.

Sony said its focus was on "broadening its customer base" at this time.

The companies' decisions to leave more high-profile launches until later has one immediate benefit: the flagships do not risk being overshadowed by Samsung's Galaxy S6, which was unveiled on Sunday evening.

Even so, one expert said the importance of the fast-growing mid-range market should not be underestimated.

"It's much harder to win over people at the high-end than the mid-tier, and it costs more money to do so, especially if you're not one of the top few handset brands," said Carolina Milanese, chief of research at KWP ComTech.

"In the mid-tier there's also less loyalty - consumers switch around more - so there's a bigger proportion of the market to go after.

"And it's easier to demonstrate value, by offering a different balance of price and features.

"But the challenge is that you are competing with more firms and some of them are pretty ruthless when it comes to price."

LG, Motorola and ZTE also unveiled new mid-range smartphones in the days leading up to MWC.

Bundled Office

Microsoft is adding two models to its line-up, both of which run Windows Phone 8.1 and will be upgradeable to Windows 10 when it is released later this year.

The Lumia 640 offers owners both 4G data connectivity and ability to fit two Sim cards at once - a popular feature in India, where users often switch network provider when crossing states to get a better rate.

The phone's 5in (12.7cm) screen is bigger and higher resolution than the Lumia 635 it supersedes. It also gains a higher quality eight megapixel camera and an NFC (near field communication) chip for wireless payments and cordless connections to other kit.

The other new model, the Lumia 640 XL, has a bigger 5.7in (14.5cm) screen and a 13-megapixel camera. Both are being bundled with a one-year subscription to Microsoft's Office 365 productivity software suite, including access for an additional PC and tablet.

They will range in cost between €139 ($155; £100) and €219 ($245; £160), depending on the specification.

Samsung S6 Edge with curved screen unveiled at MWC

Samsung will sell two versions of its next flagship phone, one of which has a screen that curves round its sides.

The Galaxy S6 Edge uses the feature to provide a quick way to stay in touch with select contacts, and to alert owners to important information.

It will be sold for a higher price than the standard S6, which otherwise has the same specifications.

Samsung lost market share to Apple and others after the S5 sold fewer copies than its predecessor in many countries.

Its replacements were unveiled in Barcelona, ahead of the start of Mobile World Congress. They go on sale on 10 April in 20 countries, including the UK.

Samsung says the two phones feature a 64-bit processor it designed to be both more powerful and energy efficient than before

Metal frame

The South Korean firm said it had set out to address past "missteps", and had codenamed the devices "project zero" to reflect the need for a rethink.

Changes include making the TouchWiz user interface simpler to use by cutting the number of pop-up messages and introducing a metal frame and glass back instead of the plastic styling of earlier models.

The redesign has, however, meant some features have had to be jettisoned: the phones are not water-resistant, they do not have a microSD slot for extra storage and their backs cannot be removed to change their batteries.

The Galaxy S6 Edge's curved screen lets it shine a colour on the table when face down, providing a signal as to who is calling

Even so, one expert praised the company's choices.

"Samsung has clearly listened to feedback - not just for the Galaxy S5, which just missed the mark last year costing the company greatly - but also the S4, which was a product that tried to cram in every piece of technology it could find," said Ben Wood, head of research at the CCS Insight tech consultancy.

"The software has been made into a much more crisp and clear experience, the design of the product has clean lines and looks very nice, and the marketing campaign is expected to only pinpoint three things - and that's certainly something that had been missing from Samsung's products for quite some time."

Others were more critical. Rob Kerr, from the price comparison site uswitch.com, declared: "The dual-curved display just seems too gimmicky, too niche, to really be a crowd pleaser."

Coloured contacts

The three topics Samsung is focusing on are:

• Revamped designs, including the premium model's curved screen
• Camera upgrades
• In-built support for wireless charging, with support for two rival standards

The S6 Edge uses its curves to provide a couple of services.

The first is called People Edge, which provides a quick way to bring up calls, texts and other messages from five acquaintances of the owner's choosing. Each person is assigned a different colour, which the phone's edge flashes when it rings, providing a hint of the caller's identity even if the device is face down.

The second is Information Stream, which displays the time, weather and selected notifications on the curved part.

It appears Samsung has deliberately kept the functionality more basic than on its Galaxy Note Edge - a larger handset whose screen curves only around one of its sides. The older phone uses the extra space to both run apps of its its own and to add controls to other apps.

he S6 phone's front camera has been upgraded to five megapixels, while the rear one stays at 16MP.

Both gain from a wider aperture, which should improve their ability to take photos and videos in low light conditions.

Samsung has also taken steps to make the camera quicker to use, saying it now takes less than a second to double tap the home key and snap a shot.

The firm is claiming a "world first" by embedding support for both the PMA and WPC's Qi wireless charging standards.

The Android-powered handsets are also faster to recharge, and should return to 50% battery strength within half an hour of being plugged in.

Samsung said that this was half the time it would take to charge an iPhone 6.

Other improvements over the S5 include:

• Increased screen resolution - now 577 pixels per inch - and the ability to go 20% brighter
• A new 14 nanometre processor designed by Samsung, rather than bought from Qualcomm, that should be more energy efficient
• The addition of Samsung Pay, a smart wallet service that allows the handsets to act as a credit or debit card when tapped against a shop's NFC chip reader or used to transmit magnetic stripe data. It will initially be limited to the US and South Korea

The firm also revealed it had developed a new version of its Gear VR virtual reality kit that uses the S6 models as a screen.