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Apple Increases App Store Prices By 25% Following Brexit Vote (theguardian.com)
Following the UK's vote to leave the European Union last year, Apple is raising prices on its UK App Store by almost 25 percent to counter the depreciation of the pound. For example, an app that costs $0.99 in the U.S., and used to cost 0.79 British pounds, will now cost 0.99 British pounds. The Guardian reports: Apple announced the price rises in an email to app developers on Tuesday, and told them "when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store." It says the new prices will roll out over the next seven days, giving customers a short opportunity to beat the price increase. Similar price increases are expected to hit other Apple stores, including the iTunes Store for music and video and the iBooks Store. Britain isn't the only country experiencing price changes. India is seeing price increases due to changes in service taxes, while Turkish prices are also rising due to depreciation of the Turkish Lira. Since the vote to leave the European Union, the value of the pound has fallen by 18.5% against the U.S. dollar. In a statement, Apple said: "Price tiers on the App Store are set internationally on the basis of several factors, including currency exchange rates, business practices, taxes and the cost of doing business. These factors vary from region to region and over time."
1 GBP - 20% VAT = 0.8GBP = 1USD
Apple and the developer get the same amount of money in each country. In GB, you also pay the government too.
but I can't imagine the folks who voted Brexit care. Apps, especially paid ones, are mostly a young person thing. As an old codger I've yet to pay for anything on my phone. Now, as a _reasonable_ old codger here in the colonies my heart goes out to those young people who just got driven off a cliff by Grandpa and Grandma. Sure, it's their fault for staying home on election day (just like Trump's our young folks fault for the exact same reason) but just like Trump nobody deserves what's to come.
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I should clarify my comment, on some purchases, for customers in some states, the company adds tax, generally around 8%. So US customers pay 99 cents PLUS tax.
When the company collects VAT, it's INCLUDED in the sticker price - it's illegal in the UK, I understand, to show customers who they are really paying by listing it as "+0.80 purchase price plus VAT".
Anyway, after the currency conversion, the company is charging the same amount. The extra that UK customers pay is the government charging higher taxes.
Bullshit. In no way does 0.81528 (today's close) "pretty much match" old pricing. Just 6-12 months ago, the norm was somewhere in the region of 0.7 pounds to the dollar, and from early 2009 to just a year or so ago, the norm was more like 0.6 to 0.65 or thereabouts. 0.8+ pounds to the dollar is in no way normal, and Apple is not increasing prices here, but rather adjusting them to match the post-Brexit norm.
Citation, since you'll pretend it's not true otherwise. (Mind you, you'll probably still pretend it's not true.) http://www.xe.com/currencychar...
Actually, no it doesn't. It makes them about the same amount of money that they used to before the pound tanked after the Brexit vote (and even then, only the same amount if we assume that they'd have gotten just as many sales with the new higher pricetag, which they likely won't do.)
elected Trump. The 538 blog has a meticulously sourced article on it. Hilary didn't bother campaigning in the rust belt because she took them for granted (she always was an arrogant bitch) so they stayed home. It took a lot of other stuff (DNC hack, that assclown FBI director's Oct Surprise, Russian propaganda campaigns) but those were surmountable had Hilary fought in the swing states like she should have.
You're gonna get Globalism whether you like it or not. It benefits your ruling class, and you're in no position to do anything about your ruling class. You've got too many non-economic issues (guns, Abortion, Gay Rights, Religious freedom, Black Lives Matter, you name it). You get picked apart by them, which is why they're called Wedge Issues. They drive a wedge between the working class.You'll never stand up to the ruling class because every time you do they'll throw you a few bones on social issues and you'll fight amongst yourselves while they laugh all the way to the bank.
So, given that Globalism is basically inevitable what do you think is a better approach: throw up your hands and pretend it's not happening or take that bull by the horns and try to tame it. You just did the former. I wish I could stop and say: Let me know how that turns out for you, but, well, you dragged me into it to. Thanks. Thanks a million.
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Yeh, both the RPI and CPI are showing marked increases after brexit, so yes, the price of a loaf of bread is not only going up, but going up faster than before.
The British pound has been declining against the US dollar for decades. A century ago, a pound traded for US$4.70.
Long term, it's a question of economic strength and which country waters its currency more, and those things in turn depend on the mentality of the general public of each nation.
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Hillary Clinton was held to an impossible standard, one that is never applied to any male candidate. Have you ever heard a man called "shrill"? Every single "scandal" was either completely overblown or just straight up manufactured. Trump's numerous scandals were just ignored. And I don't blame fake news, because there's always fake news. I blame every single voter who chose to believe complete bullshit because they WANTED to believe it.
If you don't think much of that double standard is because she is a woman then you are living in a make-believe world.
No, it absolutely wasn't the only reason she lost. She absolutely did ignore those left behind by globalism and that's the enduring message of this election.
He openly mocked a disabled reporter...in front of camera...while he was running for President. I'm not sure how to explain that to my disabled child. Any ideas?
He spent years claiming that President Obama was a Kenyan Muslim. The list goes on and on.
If you voted for Trump then you are an asshole, it's not anymore complicated than that.
Has the price of a Big Mac been adjusted since Brexit? Can you guarantee that it won't be? Yeah, stop trying to abuse a metric to have it match your preconceptions. All else being equal, McDonalds will eventually be adjusting its pricing just like many, many other businesses.
There are a lot of people in the US and Britain who seem keen to minimize Brexit's effects, to the point where they seem unwilling to admit that because Brexit hasn't even happened yet (Article 50 hasn't even been activated yet, for goodness sake), the idea that the more dire predictions can be just dismissed seems pretty unsupportable.
My assumption is that Theresa May, for political reasons, is going to allow this uncertainty to do a certain amount of calculated damage to British economy. This will serve to finally undermine the "Bastards" in her party, and allow her to negotiate at least some access to the Common Market, which will inevitably entail some degree of freedom of movement for EU citizens. But first she needs to make sure Boris Johnson's reputation is ruined.
The world's burning. Moped Jesus spotted on I50. Details at 11.
What I find odd is the currency based on sterling silver is falling in relation to a soft backed currency based on 'confidence'. Seems like someone is gaming the system. But I am not an economist so what do I know..
You seem to have taken in the two distinct phrases 'sterling silver' and 'pound sterling' and developed a new myth from it. The original currency was once based on silver coins, but that was not necessarily the currency itself. The currency was formally put on the gold standard during the Napoleonic wars, and came off it in the 20th century.
Yeah, someone is really unclear on the whole concept of semi-joking-metrics (to quote The Economist, "Burgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible." - I'm sure pun intended).
If you look at the "Big Mac index" almost every country is now considered "vastly undervalued". So while it may be fun, it's basically a teaching tool and not reality.
Though I *do* think the index shows McDonalds may not necessarily be adjusting pricing... it depends on how they source their raw materials, cost of labor, and just plain what the market will bear.
(If you want to see a *really* good example of how there is no reason to think US companies have to match their pricing to currency valuation - go look at drug prices by country...)
I don't think Boris ever seriously wanted to be PM, any more than he wanted to win the referendum. He's much happier when he can tell everyone he'd do a much better job if he were in charge than when he's actually in charge.
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Sure, here's how to explain it. He appeared genuine, warts and all.
Genuine? He was caught on tape lying so many times I can't count. Constantly denied saying what he was on tape saying. I guess you mean he appeared to be a genuine LIAR.
We did something dumb
Regaining sovereignty was not dumb. Stopping unlimited immigration was not dumb. Nor is is dumb in America that we're doing the same. Sucks the guys you have to vote for to achieve these objectives, but no one better is in the right.
Socialism: a lie told by totalitarians and believed by fools.
Except the EU has stated you want access then you have to be a part of it.
Britain will trade with the EU just as most other nations do. This is not a bad thing. Britain remains a top-10 world economy. There will of course be turbulence until all the new trade treaties settle, but that's a small price to pay for sovereignty. Certainly lower than the price paid in centuries past to achieve sovereignty of the common man.
Socialism: a lie told by totalitarians and believed by fools.