Business Matters: Apple stock surges on share buyback plan

I’m Nirvita Ganguly with your top business headlines right now. Apple shares jumped Friday morning on news of the companies record $110 billion buyback plan. The iPhone maker is promising sales growth in the upcoming quarter, pushing back on concerns over weak demand and increased competition in China. That comes on the heels of the company posting its steepest quarterly decline in iPhone sales since the pandemic’s outset, though it still beat analyst projections. Apple says it’s confident that upcoming product upgrades will drive demand. Greater Toronto home sales in April were down 5% from last year, but new listings surged. The Toronto Regional Real Estate Board says that created more choice for buyers and it kept prices stable. The board says just over 7100 homes changed hands in the month, about 350 less than April of last year. The average selling price was up less than half a percent year over year to $1.16 million. Nearly 17,000 properties went on the market last month. Some Canadians are turning to grocery coops as a way of making sure that their money is going back into their local community. Coops are member owned organizations, with many owned by customers who have a say in how the organization runs. Some people see grocery coops as a better alternative to frustration over high food prices and profits in the grocery industry. Artists from Universal Music Group will be returning to Tiktok, and that means you’ll soon be hearing Drake, Adele, Bad Bunny, and Billie Eilish on the app. Once more. The two parties have struck a new licensing agreement following an approximately 3 month long dispute which will give musicians more protections from artificial intelligence. Those are top business stories right now. For more, you can head to Global News California. I’m Nirvita Ganguly.