iPad release delayed again
U.S. buyers have been snapping up the iPad so quickly that Apple Inc. is delaying the tablet computer’s overseas debut a second time, the company said Wednesday. Apple said it will now start taking orders for the iPad from international buyers, including Canadians, on May 10.
In January, it said the iPad would be sold worldwide in late March. It started selling them in the U.S. on April 3, but delayed plans for the international launch until late in April.
Word of the second delay didn’t faze Apple investors, who are eager to see signs the iPad is selling well. Apple shares rose 1.3 per cent in premarket trading. Apple said has delivered more than 500,000 iPads in the U.S. and has taken “a large number” of orders for the coming models that can go online over cellular broadband rather than solely where Wi-Fi is available.
Borrowing costs on the rise
The Bank of Canada has yet to officially start raising interests rates, but already Canadians are starting to feel the impact of higher borrowing costs in the economy.
Analysts say the expectation that the central bank will boost rates June 1 at the earliest and July 20 at the latest has added a boost to the Canadian loonie and pushed the big banks to twice raise longer-term mortgage rates. The loonie has been bumping its head against parity in the past two weeks, finally looking like it will stay there. But many analysts question just how far the Bank of Canada can go on interests rates, particularly since U.S. Fed chairman Ben Bernanke is signalling he may stay at virtually zero rates until next year. CIBC economist Benjamin Tal says Canada’s central bank has flown solo on interest rates before.