US bank Citi reports revenue fall after Wall Street’s dreadful December hits fixed income trading January 14, 2019 US bank Citi has reported a surprise fall in revenue as Wall Street’s volatile December slashed income on its bond trading division by 21 per cent. The third-largest US bank said revenues fell two per cent to $17.1bn (£13.3bn) in the three months to December, below expectations of $17.6bn. Read more: Wall Street shares plummet after [...]
Bank earnings the next big threat to Buffett’s portfolio after Apple profit warning? January 14, 2019 Warren Buffett may invest for the long haul, but surely any money manager must wince at the thought of losing a $4 billion chunk of their portfolio. Apple shares tanked at the start of the year after CEO Tim Cook issued the company’s first profit warning in 12 years, blaming the US-Sino trade war and [...]
Apple chip supplier Dialog Semiconductor predicts low quarterly sales January 14, 2019 Apple chipmaker Dialog Semiconductor today said it expects quarterly sales to be at the bottom end of its target range after the iPhone manufacturer issued a shock profit warning. Dialog reported preliminary revenue of roughly $431m (£336m) for the fourth quarter, which is at the lower end of its $430m to $470m forecast. In October [...]
Top 10 CEOs: Amazon’s Jeff Bezos tops index of chief executives, but who else makes the list? January 14, 2019 Amazon founder Jeff Bezos today took the top spot in a new index that rates bosses on the star power they bring to their companies. Billionaire Bezos, who has run Amazon for the past 25 years, has come first in a ranking out today that measures the brand value the world’s most rich-and-famous chief executives [...]
How the FTSE 100 returned 94 per cent without moving January 14, 2019 On New Year’s Eve 1999, the FTSE 100 closed at a then-record high of 6930. Few could have envisaged then that, 19 years on, the index would be lower. It stood at 6845 as at 14 December 2018. A negative return for investors over that long a period can be concerning, but it doesn’t tell [...]
JD.com and other Chinese retailers slash iPhone prices in a bid to reverse poor sales January 11, 2019 Some of China's biggest retailers have dropped the price of older iPhone models following weak demand for the phones. iPhone resellers JD.com and Alibaba-backed Suning are among those to have cut the prices of the iPhone 8, 8 Plus and XR models by over a fifth in an attempt to boost sales. Read more: Apple issues profit [...]
Apple set to stick with LCD display for its new iPhone in the autumn January 11, 2019 Apple is reportedly planning to release three new iPhones in the autumn as it faces weakened demand in key markets for its top-selling handset. The new line-up will include a successor to the iPhone XR that will be a cut-price version of the device featuring an LCD screen, the Wall Street Journal reported. The XR has [...]
Nike’s Dutch tax status to be investigated by European Commission January 10, 2019 The European Commission has opened a detailed probe into whether Nike has received an unfair advantage over its competitors by being granted a favourable tax environment in the Netherlands. The Commission said the Netherlands issued five tax rulings since 2006, two of which are still active, which endorsed a method of calculating royalty payments that "may not reflect [...]
Amazon boss Jeff Bezos and wife MacKenzie announce divorce January 9, 2019 Amazon chief executive Jeff Bezos and his wife MacKenzie Bezos, a novelist, have decided to divorce after a long trial separation. Read more: Apple loses crown as world's most valuable company In a joint statement on Twitter, the pair – who have been married for 25 years – said: “after a long period of loving [...]
Qualcomm says Apple chief Cook’s comments are ‘misleading’ January 9, 2019 Chipmaker Qualcomm has today accused Apple's chief executive Tim Cook of making 'misleading' comments, after the tech boss claimed settlement talks between the two rowing companies ended in September. Qualcomm and Apple have been embroiled in several ongoing lawsuits surrounding hardware patents for the chips in Apple's iPhone and other products, which Qualcomm argues infringe [...]