Apple to cut new iPhone production by 10 per cent as Christmas takes its toll January 9, 2019 Apple has reportedly slashed planned production for its three newest iPhone models by about 10 per cent for the next three months, just one week after the tech giant cut its revenue forecasts. Apple is said to have asked its suppliers to produce less of its iPhone XS, XS Max and XR models than originally [...]
Apple chief Tim Cook picks up his biggest annual bonus to date January 9, 2019 Apple chief executive Tim Cook was awarded his largest ever bonus in September last year, just before the tech giant's most stellar year to date took a turn for the worse. Apple said in a regulatory filing yesterday that Cook had been given a cash bonus of $12m (£9.4m) at the end of its fiscal year, [...]
LG profits to plummet 80 per cent in festive quarter, as Samsung shares hit by weak chip demand January 8, 2019 LG Electronics has said its operating profit for the fourth quarter is likely to drop 80 per cent from the same period in 2017, falling miles away from previous analyst expectations. The world's second largest TV manufacturer has forecasted profit of just 75.3bn won (£52.5m) for the three months to December last year, which is also [...]
Apple analysts have let us down yet again January 8, 2019 Apple analysts, huh, what are they good for? Absolutely nothing. Say it again… Yep, that’s right, I just butchered one of the most powerful lyrics of the past 50 years. Lyrics immortalised by Edwin Starr in the 1970 Vietnam protest song, but for me it kind of grabs your attention and makes the point rather [...]
Amazon becomes most valuable company after overtaking Microsoft January 7, 2019 Amazon reclaimed its crown as Wall Street’s stock market darling this evening, passing Microsoft to take the lead in a three-horse race which has seen fellow tech giant Apple fall behind in recent weeks. Microsoft’s six-week run as the largest global company by market value was ended when the bell closed on Wall Street today [...]
Battersea Power Station set to start energy production after 37 dormant years January 7, 2019 The chimneys of Battersea Power Station will work once more when the site starts producing energy again in 2020, three and a half decades since the factory went quiet. The Grade II*-listed building is at the heart of a 42-acre redevelopment project that will introduce a six-acre park, a town square, a new Tube station as [...]
What’s in store for equities in 2019? January 7, 2019 There does not appear to be a lot of cheer for markets as 2019 begins. Risk appetite is strained, and havens are bid with some soft data from China and a rare profits warning from Apple combining to spook equity investors. Volatility came back with a vengeance in 2018 as a turn in the US [...]
Apple profits warning a red flag on China, but company also to blame January 7, 2019 For a while now there’s been an adage in the markets that as long as Apple was doing fine, everyone else would be OK. Therefore, Apple’s rare profits warning is a red flag for market watchers. The question is to what extent this is more Apple-specific, or more macro? Certainly, the shock letter to investors [...]
DEBATE: With Apple sales slowing and the share price tumbling, is China to blame? January 7, 2019 With Apple sales slowing and the share price tumbling, is China to blame? Neil Goddin, manager of the Kames Global Equity fund, says YES. Unlike the western world, the Chinese people are likely to support their country in the midst of a trade war by not buying American if they don’t need to. They would not [...]
The big takeaway: How City Pantry is stirring up the catering industry January 7, 2019 London's food revolution has happened remarkably quickly. In a matter of years, the city has opened up to a world of cuisine, and is now home to more street food vendors than you can shake a crab stick at. Take sushi shops: almost unheard of in London 20 years ago (many Brits grimaced at the thought [...]