Apple has put $250m into a fund for US iPhone buyers over its AI Siri. Each iPhone could get $25 to $95, depending on how many people claim.

The stories

11 on this beat today.

Every story told the same way: what happened, who is involved, why it matters, how it works, the truth and the good news.

1. 01

   Apple has put $250m into a fund for US iPhone buyers over its AI Siri. Each iPhone could get $25 to $95, depending on how many people claim.

   $250m

   put by Apple into one fund for US iPhone buyers

   the same fund pays the costs and fees the court approves [2]

   $25 to $95

   for each iPhone claimed

   where it lands depends on how many approved claims there are [3]

   36m

   iPhones covered, bought in the US from June 2024 to March 2025

   Kiplinger puts the number at about 37 million [3][6]

   21 Dec 2026

   the last day to send a claim

   a buyer who does nothing is paid nothing and cannot sue [1][2]

   What happened

   • Apple has agreed to pay $250m into one fund to settle a US lawsuit over Siri, the iPhone's voice assistant. [2][4]
   • Buyers said Apple sold the iPhone 16 on new AI features for Siri that were not there when they bought it. [2][5]
   • Apple denies doing anything wrong. [2]
   • The buyers' lawyers wrote that Apple promoted AI features that did not exist at the time. [5]
   • An Apple spokeswoman said the case was about two extra features among many. [5]
   • Part of the dispute was over the words "Available Now" on Apple's AI web page, Kiplinger reports. [6]
   • The deal covers anyone in the US who bought an iPhone 16 model, an iPhone 15 Pro or a 15 Pro Max there from 10 June 2024 to 29 March 2025. [2]
   • That is about 36 million iPhones. [3]
   • The law firms have opened a 90-day window for claims. [1]
   • It closes on 21 December 2026. [1]
   • Each iPhone could get about $25, and up to $95, depending on how many approved claims there are. [3][4]
   • The same $250m also pays the costs and the lawyers' fees that the court approves. [2]
   • A buyer who does nothing gets no money. [2]
   • They still give up the right to sue Apple over the same features. [2]
   • Judge Noel Wise gave the deal early approval on 17 July. [1]
   • At a hearing on 24 February 2027 she decides whether to approve it and the lawyers' fees. [2]
   • Apple showed a rebuilt Siri in June and said it would be widely released in the autumn. [7]
   • Kiplinger warns that fake settlement notices ask for money up front or for bank details. [6]
   • The US consumer regulator lists the same warning signs for scams. [8]

   Who is involved

   • Apple the US company that makes the iPhone; it agreed to pay $250m and denies doing anything wrong
   • Judge Noel Wise the US federal judge in San Jose, California, hearing the case; she gave early approval in July
   • Clarkson, Cotchett Pitre & McCarthy, and Kaplan Fox the three law firms acting for the buyers; the judge will rule on their fees, which come out of the fund

   How it unfolded

   1. 2024 Apple sells the iPhone 16 with adverts for a smarter Siri [6]
   2. 5 May 2026 Apple agrees to pay $250m to settle [4]
   3. 8 June 2026 Apple shows a rebuilt Siri, due in the autumn [7]
   4. 17 July 2026 a judge gives the deal early approval [1]
   5. 21 Dec 2026 claims close [1]
   6. 24 Feb 2027 the final hearing on the deal and the fees [2]

   Why it matters

   The next number to watch is how many claims arrive by 21 December, because it decides whether each iPhone gets nearer $25 or $95. [1][3]

   The truth

   • What is really going on Apple and Amazon are settling lawsuits by paying fixed sums into funds, $250m and $309.5m.Each buyer's share depends on how many other buyers claim, and the lawyers' fees come out of the same money.
   • Why it works on people A total like $250m sounds large, but it is split across about 36 million iPhones before anyone is paid, so the number in the headline is not the number a buyer receives.
   • Who gains The law firms acting for Apple's buyers — They can ask the judge for fees paid out of the $250m fund. [2]
   • Who gains Apple — It ends the case without admitting wrongdoing, and every buyer who does nothing gives up the right to sue it. [2]
   • Who pays iPhone buyers who do not claim — They get nothing and still give up the right to sue Apple over the same features. [2]
   • Nobody knows yet

     How many of the covered iPhones will be claimed.

     No claim count has been published. On our own arithmetic, the $25 to $95 range only works if roughly 7% to 28% of the 36 million iPhones are claimed, before fees. [3][4]

   • Nobody knows yet

     How many iPhones the settlement covers.

     The Guardian says roughly 36 million and Kiplinger says about 37 million. [3][6]

   • Nobody knows yet

     How much of Apple's $250m the lawyers will ask for.

     The notice says the court-approved fees come out of the fund but gives no figure. The judge decides at the hearing on 24 February 2027. [2]

   • Nobody knows yet

     Whether the rebuilt Siri arrives when Apple said.

     Apple said in June it would be widely released in the autumn. The lawsuit was about Siri features that buyers expected earlier and did not get. [7][2]

1. 02

   Amazon settles over missing return refunds

   What happened

   • Amazon has agreed to pay $309.5m to settle a US lawsuit over refunds for goods sent back, a notice dated 23 September says. [9]
   • It covers people who returned an item bought on Amazon.com between September 2017 and February 2026 and got no refund, a late or wrong one, or were charged again later. [9]
   • Some will be paid automatically. [9]
   • Others must send a claim form by 1 December 2026. [9]
   • Amazon denies doing anything wrong. [9]

   • Lawyers' fees, at most$100m · 32%
   • Costs and buyers$209.50m · 68%

   Why it matters

   The fund also pays the settlement's running costs, and the lawyers may ask for up to $100m of it, so buyers share what is left. [9]

   None of the money can go back to Amazon, and a judge in Seattle rules on 16 March 2027. [9]

   How it works

   Each share of a settlement shrinks as more buyers claim

   Apple's $250m is split among the iPhone buyers who send a claim, so each extra claim makes every share a little smaller.

   The twist

   Each buyer's payout depends on how many other buyers claim. Apple's range of about $25 to $95 an iPhone exists because nobody yet knows how many will send a form.

   The picture

   Every iPhone claimed$7

   About 28% claimed$25

   About 7% claimed$95

   Step by step

   1. 1 A company pays one fixed sum into a fund
   2. 2 Court-approved costs and lawyers' fees come out of it
   3. 3 Buyers who send a claim form each get a share
   4. 4 Each share is what is left, divided by the number of claims
   5. 5 Buyers who do nothing get nothing and cannot sue

   The same force, elsewhere today

   Where this chain is also running, in today's other stories.

   • Amazon's $309.5m returns settlement

     Amazon's fund also pays the running costs and up to $100m for the lawyers, so buyers split what is left after those come out.

   • Costco's $14m email settlement

     Washington customers split one $14m fund instead of getting the $500 per email the state's law allows.

   • BlackRock's private loan fund

     BlackRock paid out 5% of the fund when investors asked for more than 9%, so the cash on offer was smaller than the queue asking for it.

   Where you've seen this

   A lottery jackpot

   several winning tickets split one prize, so popular numbers pay less when they win

   A company that goes bust

   what is left is shared among everyone it owes, each getting the same few pence per pound

   A pizza at a party

   one more guest makes every slice smaller, however big the pizza is

   The catch

   Not every settlement works this way. Docketwise pays a set $50 a claim and pays its lawyers separately, so there, another person's claim does not shrink anyone else's.

   And the whole of it

   Every US buyer of an eligible iPhone is in this fund, whether or not they know it. Each one decides alone whether to fill in the form, and none of them can see how many others have.

   The truth

   • Who gains The lawyers in Amazon's returns case — They may ask for up to $100m of the $309.5m fund. [9]
   • Who pays Amazon customers in the claim-form group — They must send a form by 1 December 2026 to be paid. [9]
   • Nobody knows yet

     How much each Amazon customer will get.

     The notice gives the $309.5m total and up to $100m for the lawyers, but no amount per person, and a judge rules on 16 March 2027. [9]

   Good news

   • After the lawsuit over its returns was filed, Amazon began paying refunds it had missed, including some it could not confirm it owed.

1. 03

   Bank of England deputy warns rates may go up

   What happened

   • Clare Lombardelli, a deputy governor of the Bank of England, said on 24 September that a rise in interest rates is looking increasingly likely if energy prices stay high. [11][22]
   • Earlier this month she was one of six on the Bank's nine-member committee who voted to keep its rate at 3.75%. [11]
   • The other three wanted 4%. [10]
   • Prices in Britain rose 3.1% in the year to August. [11]
   • The Bank expects 3.7% at the end of 2026 and 4.2% early in 2027. [11]

   August 20263.1%

   End of 2026, forecast3.7%

   Early 2027, forecast4.2%

   Why it matters

   It would land on households already facing a rise of about 4% in the energy price cap next week. [11]

   Food prices, which were rising only 1.3% a year, are expected to climb towards 4% early next year. [11]

   The truth

   • Who pays Households in Britain — The energy price cap goes up about 4% next week. Food is expected to cost about 4% more a year by early next year. [11]
   • Nobody knows yet

     Whether the Bank of England raises its rate.

     Lombardelli tied it to energy prices staying high. Only three of the nine members voted for a rise this month. [10][11]

2. 04

   Labour meets with bills and a Budget ahead

   What happened

   • Britain's governing Labour Party holds its yearly conference in Liverpool from Saturday to Wednesday, the first with Andy Burnham as prime minister. [12]
   • Unite, its biggest union funder, wants help with living costs that its leader, Sharon Graham, calls "winter fuel in reverse". [12]
   • Its ideas include a cap on energy prices and unfreezing tax thresholds, the income levels where tax starts. [12]
   • It says a windfall tax, a one-off extra tax on bank profits, could pay for them. [12]

   Why it matters

   The chancellor, John Healey, speaks on Monday, and his first Budget is next month. [12]

   One senior figure told the BBC the choice is 10bn pounds of cuts or 10bn pounds of tax rises; Treasury sources said they did not recognise that number. [13]

   The truth

   • Nobody knows yet

     What John Healey's first Budget does to household bills and taxes.

     One senior figure told the BBC the choice is 10bn pounds of cuts or 10bn pounds of tax rises. Treasury sources said they did not recognise that number. [13]

3. 05

   Australia plans automatic scam refunds

   What happened

   • Australia's government has proposed that banks, phone companies and online platforms automatically refund verified scam losses under A$3,000. [15]
   • Australians reported 481,523 scams worth A$2.18bn in 2025, and the typical loss was A$400. [15]
   • But the typical loss to an investment scam, the costliest kind, was A$7,000, above the line. [15]
   • Britain has made banks refund push-payment scams, where the victim is tricked into sending money, up to 85,000 pounds since October 2024. [15]

   A$3,000Australia's plan

   vsvs

   85,000 poundsBritain's limit

   Why it matters

   Daniel Mulino, Australia's financial services minister, said a higher line could make Australia a soft target for bigger scams. [15]

   In the first three months of Britain's scheme, 86% of scam losses were returned. [15]

   The truth

   • Who gains Australian scam victims with small losses — Verified losses under A$3,000 would be refunded without a dispute. [15]
   • Who pays Australian victims of investment scams — Their typical loss of A$7,000 is above the A$3,000 line for automatic refunds. [15]
   • Nobody knows yet

     Whether Australia raises its A$3,000 line for automatic scam refunds.

     The plan was put out for public comment, and the typical investment scam loss of A$7,000 sits above it. [15]

   Good news

   • Australia's government has proposed that banks, phone companies and online platforms automatically refund verified scam losses under A$3,000. Scam losses reported in Australia fell from a peak of A$3.1bn in 2022 to A$2.18bn in 2025.
   • In the first three months of Britain's compulsory scam refunds, 86% of the money lost was returned, and 84% of refunds were paid within five days.
4. 06

   Private loan funds ration withdrawals

   What happened

   • Funds that lend privately to companies were sold to well-off savers with the chance to cash out each quarter, usually capped at 5% of the fund, Morningstar reports. [14]
   • Requests to leave reached a record high. [14]
   • BlackRock capped withdrawals from HLEND, a fund of about $26bn, at 5% after requests passed 9% of its value. [14]
   • Blackstone instead put $400m into its fund, BCRED, so it could pay every request. [14]

   over 9%Asked to take out

   vsvs

   5%Paid out

   Why it matters

   Matthew Malone of Opto Investments, a platform for investment advisers, told Morningstar that with these funds you cannot get out right away. [14]

   Experts said some investors could wait well over a year to get their money back. [14]

   How it works

   BlackRock paid out 5% of the fund when investors asked for more than 9%, so the cash on offer was smaller than the queue asking for it.

   The idea, in story 02: Each share of a settlement shrinks as more buyers claim →

   The truth

   • Who gains BlackRock's HLEND fund — BlackRock says the 5% cap is foundational to the fund's 10.7% yearly return, because its loans run for years while investors may want cash sooner. [14]
   • Who pays Investors in BlackRock's HLEND fund — Requests to withdraw passed 9% of the fund, and withdrawals were capped at 5%. [14]
   • Nobody knows yet

     How long investors in private loan funds wait for their money.

     Experts told Morningstar some could wait well over a year. [14]

5. 07

   IMF urges Brazil to cap loan repayments

   What happened

   • The IMF, the international body that checks countries' finances, said in a June 2026 review that Brazilian households spend a high and rising share of income on repaying debts. [18]
   • Most of the growth came from credit cards and unsecured personal loans, much of it through app-based and digital banks. [18]
   • It worked out that capping new 2025 loans at repayments of 40% of income would have cut the average share by 5 points, leaving mortgages aside. [18]

   Why it matters

   The same cap would have cut household borrowing by about 5.6%. [18]

   The IMF also asked Brazil to limit how often loans repaid straight from wages can be rolled over into new ones. [18]

   The truth

   • Who pays Brazilian households with card and personal loans — The IMF says a high and rising share of their income goes on repayments. [18]
6. 08

   Refund checks sent to student borrowers

   What happened

   • The Consumer Financial Protection Bureau (CFPB), the US agency that polices lenders, says checks have been mailed to borrowers harmed by Performant Recovery, a student loan debt collector. [19]
   • Under a CFPB order, Performant delayed help these borrowers were owed on defaulted federal student loans, which may have cost them money. [19]
   • They can cash the check straight away and do not need to send anything. [19]
   • Performant should no longer collect student loan debt. [19]

   Why it matters

   Here nobody has to claim: the company pays the agency, and the agency sends the money to the people it harmed. [20][19]

   Good news

   • US borrowers harmed by Performant Recovery, a student loan debt collector, have been mailed refund checks that they can cash straight away without sending anything back.
7. 09

   Data leak settlement offers $50 or losses

   What happened

   • Docketwise, a US company whose services other firms use, has settled a lawsuit over a break-in around October 2025. [16]
   • Criminals got the login details for a store of files run by one of its partners, and may have taken personal details. [16]
   • Each person can claim up to $5,000 of documented losses, or a flat $50, plus two years of credit monitoring. [16]
   • Claims close on 15 October 2026. [16]

   Why it matters

   Docketwise pays the running costs and the lawyers' fees separately, and each claim is a set amount. [16]

   People who do nothing get nothing and give up the right to sue. [16]

8. 10

   Costco email case nears its final hearing

   What happened

   • Costco, the US warehouse club, agreed to pay $14m to settle a lawsuit over promotional emails sent to customers in Washington state, Kiplinger reported in July. [17]
   • The emails had subject lines like "Hot Buys available for 5 Days Only" for offers the suit says Costco knew it would extend. [17]
   • Claims closed on 24 August. [17]
   • A final hearing is set for 2 October. [17]
   • Costco denies wrongdoing. [17]

   Why it matters

   Washington's email law allows up to $500 per misleading email. [17]

   Under the settlement, each customer gets a share of the $14m fund instead, and the amount is not yet known. [17]

   How it works

   Washington customers split one $14m fund instead of getting the $500 per email the state's law allows.

   The idea, in story 02: Each share of a settlement shrinks as more buyers claim →
9. 11

   US banks get ten days to check missing money

   What happened

   • Under US rules, once a customer reports a payment they did not make, their bank or credit union generally has ten business days to look into it, the CFPB says. [21]
   • If it finds an error, it must correct it within one business day. [21]
   • For a lost or stolen debit card reported within two business days, the customer owes at most $50 of what was taken. [21]
   • Reported later, it can be up to $500. [21]

   Why it matters

   The sooner a loss is reported, the less of it the customer can be made to pay. [21]