Marc Filippino

Suppliers there are warning they could be forced to cease production entirely.

You can read more on all these stories for free when you click the links in our show notes.

This has been your daily FT News briefing.

Check back tomorrow for the latest business news.

Good morning from the Financial Times.

Today is Friday, May 1st, and this is your FT News Briefing.

Apple's iPhone sales are booming, and the energy shock from the war in Iran is complicating things for central bankers.

Plus, Tinder has been looking for love in all the wrong places, but the app is trying to turn things around.

I'm Mark Filippino, and here's the news you need to start your day.

Apple reported quarterly earnings yesterday and things, things are good.

The smartphone maker saw about a 17% annual rise in revenue to the end of March.

That's a little bit more than $111 billion for the quarter.

And Apple is thanking what it calls its most popular iPhone model ever for the success.

Apple CEO Tim Cook said there has been extraordinary demand for the iPhone 17. iPhone sales rose more than 20% last quarter.

This is the first earnings report since Apple announced that Cook is stepping down in September.

He'll be replaced by hardware chief John Ternes.

Inflation caused by the Iran war's energy shock hasn't just forced policymakers in the U.S.

to keep interest rates on hold.

Central banks across Europe yesterday voted to keep their borrowing costs steady, too.

And this is in the face of ongoing uncertainty.