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Apple to unveil new video service

Apple is expected to announce Monday that it is launching a video service that could compete with Netflix, Amazon and cable TV itself.

It’s a long-awaited attempt from the iPhone maker, several years after Netflix turned “binge watching” into a worldwide phenomenon.

The new video service is expected to have original TV shows and movies that reportedly cost Apple more than $1 billion U.S., far less than Netflix and HBO spend every year.

Also expected is a subscription service consisting of news, entertainment and sports bundled from newspapers and magazines.

On the markets, the TSX tumbled 155 points to close last week.

Oil is starting the week at $58.96.
Gold is up $4.60 at 1,316.90.
The Canadian dollar is at 0.74569.
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