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Samsung Galaxy Note 10 photos leaked

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The day’s first SK Telecom 5G customer shows his new Samsung Galaxy S10 5G smartphone during a launch event at an SK Telecom shop in Seoul on April 5, 2019.

Jung Yeon-Je | AFP | Getty Images

Samsung will reveal the Galaxy Note 10 smartphone on August 7.

But fans don’t need to wait until next month to see the phone for the first time — photos of the device have already been published by the Federal Communications Commission.

On Thursday, the FCC published routine certification documents on Samsung’s upcoming high-end smartphone. One document, focusing on the testing environment, included several photos of the unannounced device.

The images reveal that the Galaxy Note 10 will not include a headphone jack, following a trend set by Apple in 2017, when it removed headphone jacks from its “X” line of iPhones.

It will include a triple-lens camera, according to the photos. The documents indicate that this specific model will not support 5G, but Samsung is expected to release multiple models of this device.

Samsung didn’t immediately return a request for comment.

The Galaxy Note is positioned by Samsung to compete directly against Apple’s iPhones in the United States in the premium smartphone market. Its distinguishing feature is a stylus that Samsung calls “S-Pen” and a large screen. It’s typically released in the late summer.

Last year’s model, the Galaxy Note 9, sported a starting price of $999 when it was released last August.

Samsung shipped more smartphones than any other company in 2018, beating Apple and Huawei, according to data from research firm IDC.

It appears that either the FCC or Samsung made a mistake when uploading the document with the photos. The photos are no longer available on the FCC website but have been saved on sites that mirror the database.

FCC certification is required by the U.S. government for every device sold in the United States that can connect to Wi-Fi, Bluetooth or cellular networks. Samsung asked the FCC for confidentiality in a June 27 letter so that photos and other information stay private until the device is officially launched.

WATCH: CNBC “s first look at the Galaxy Note 9

Samsung Galaxy Note 9

CNBC | Magdalena Petrova

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Canada to impose tariffs on $2.7 billion in U.S. goods after Trump reignites trade feud

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Canada’s Deputy Prime Minister Chrystia Freeland attends a news conference as efforts continue to help slow the spread of coronavirus disease (COVID-19) in Ottawa, Ontario, Canada March 23, 2020.

Blair Gable | Reuters

Canada said Friday it will slap retaliatory tariffs on $2.7 billion worth of U.S. goods, the latest development in a new trade feud sparked by President Donald Trump‘s decision to reimpose aluminum duties on the U.S. ally.

“Canada will respond swiftly and strongly,” Canadian Deputy Prime Minister Chrystia Freeland said at a press conference.

“We will impose dollar-for-dollar countermeasures in a balanced and perfectly reciprocal retaliation,” she said. “We will not escalate and we will not back down.”

Freeland said Prime Minister Justin Trudeau will spend the next 30 days consulting with Canadian citizens and businesses on a broad list of aluminum-containing products. Canada’s new duties on U.S. imports, she said, will total $3.6 billion Canadian dollars ($2.7 billion).

Trump, during a speech Thursday at a Whirlpool manufacturing plant in Ohio, announced that he had signed a proclamation reimposing 10% tariffs on aluminum imports from Canada that had been lifted more than a year earlier. The president complained that Canada was putting American workers in the aluminum industry at a disadvantage.

“The aluminum business was being decimated by Canada,” he said.

Trudeau vowed to enact countermeasures against the U.S. just hours after Trump’s announcement.

Neither the White House nor the Commerce Department immediately responded to CNBC’s requests for comment on Canada’s actions.

The text of Trump’s proclamation says that Commerce Secretary Wilbur Ross informed Trump that Canadian aluminum imports “increased substantially” in the months after the decision to lift the tariffs in mid-2019.

That so-called surge “threatens to harm domestic aluminum production and capacity utilization,” the proclamation says.

Freeland on Friday lambasted that assertion, arguing that the tariffs will hurt American consumers already suffering from the economic devastation inflicted by the coronavirus pandemic.

“In imposing these tariffs, the United States has taken the absurd decision to harm its own people at a time when its economy is suffering the deepest crisis since the Great Depression,” Freeland said.

“These tariffs are unnecessary, unwarranted and entirely unacceptable,” she added. “They should not be imposed. Let me be clear: Canadian aluminum is in no way a threat to U.S. national security, which remains the ostensible reason for these tariffs, and that is a ludicrous notion.”

Freeland also noted that the new tariffs comes just over a month after the United States-Mexico-Canada Agreement – the Trump-backed trade pact that replaced the North American Free Trade Agreement, or NAFTA – went into effect.

“Now is the time to advance North American economic competitiveness, not to hinder it,” she said.

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Citi economists explain why gold surged above $2,000

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Ktsdesign | Science Photo Library

With gold topping the $2,000 mark this week, Citi economists have clarified exactly what they think is driving the surge in the precious metal — and what it could tell us. 

The spot gold price, which currently stands around $2,058 an ounce, has risen over 4% this week and is set for its ninth week of gains in a row, it’s longest consecutive weekly increase since 2006. 

While there are doubts gold will hit the $3,000 mark, economists at investment bank Citi said in a note Thursday that they believed the metal could reach $2,100 an ounce this quarter, and $2,300 in the next six-to-12 months, with “risks skewed to the upside.” 

However, they clarified that the gold rally was not forewarning of a “burst of inflation,” as some might suspect, despite central bank stimulus and rising private sector credit growth. 

“The monetary theory of inflation has been replaced by labor and product market micro theories, and market pricing of inflation risk is low,” the economists led by Catherine Mann said. “So Gold is not presaging inflation.”  

The gold rally was also not an indicator that the dollar would lose its crown as the “premier international reserve asset.” 

The economists said that while some have suggested gold’s rise traces the depreciation of the dollar, “no other currency or country is ready or willing to take on the dollar’s role.” 

In fact, the U.S. Federal Reserve’s “massive provision” of dollars in currency exchanges with other countries — also known as “swap lines” — reinforces its position as the world’s reserve currency. 

“Even if the dollar is now worth less in gold terms so too are all the other currencies,” they said, meaning its “exorbitant privilege remains.” 

At its core, the economists said the rally in gold was being driven by central banks’ monetary easing, which had resulted in negative real yields. This is when the return investors get on bonds is equal to or below the rate of inflation. This has reduced the “opportunity cost of holding a zero-coupon asset such as gold.”  

Nevertheless, they added that all of the above factors, and more, had a role to play in sustaining the gold rally.  

Guy Foster, head of research at Brewin Dolphin, agreed that what was driving the gold rally was negative real yields. These indicate the “market’s expectation of where inflation’s going to be relative to where interest rates are going to be,” he told CNBC’s Squawk Box Europe on Friday. 

“And the trade here is to say that the Federal Reserve and other central banks will not be able to raise interest rates because of high unemployment, even as inflation starts to pick up,” Foster added. 

He said it was reasonable to expect inflation to rise to around 3%, which is the “best part of a minus 3% real yield for investors.” 

“In that situation, you would expect gold to perform extremely well,” Foster added.

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Air India plane crash lands in southern India, several passengers injured

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People walk past an Air India logo outside its building in Mumbai, India on 28 January 2020.

Himanshu Bhatt | NurPhoto | Getty Images

Indian news reports said an Air India Express flight with 191 passengers on board skidded off a runway while landing Friday in heavy rain in southern India, and some injured people were hospitalized.

Rajiv Jain, a spokesman for the Civil Aviation Ministry, confirmed the accident and said the plane broke into two pieces. He said details about injuries were not immediately known.

The news reports said the plane didn’t catch fire. They said passengers were evacuated from the Boeing aircraft.

The NDTV news channel said the plane flew from Dubai to Kozhikode in southern India.

Air India Express is a subsidiary of Air India.

This is breaking news. Please check back for updates. 

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