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Markets

Analysts polled by Bloomberg have an average price target of $212.79, which would translate to a market cap of $1.05 trillion. In addition to device sales, Apple's services and software revenue reached a new milestone during the June quarter; this encompasses iCloud, Apple Pay, Apple Care, iTunes, and more.
  • Huawei overtakes Apple as second biggest phone seller in last quarter

    Huawei overtakes Apple as second biggest phone seller in last quarter

    Markets

    IDC's latest data on the top 5 global smartphone manufacturers in terms of shipments and market share for the second quarter of 2018. According to IHS Markit analyst, Gerrit Schneemann, over the course of Q2 for the 18-19 financial year, Huawei managed to beat Apple and take the number two spot in global smartphone shipments.
  • Recall on some Durex condoms over fears they may burst

    Recall on some Durex condoms over fears they may burst

    Markets

    Although Asda said its tests meet legislative requirements and issued an apology to the woman, she was by no means the only one complaining - in fact, the majority of reviews of Asda's pack of two digital pregnancy tests on its website accuse the product of giving them a false positive.
  • China threatens retaliation if U.S. doubles proposed tariffs

    Markets

    We were particularly heartened that Trump and the Europeans now have a handshake agreement to aim for zero tariffs on both sides of the Atlantic. At the same time, representatives of U.S. "Unilateral threats and pressure will only be counterproductive". The duties, initially announced last month, would not be imposed until after a period of public comment.
  • TSA secretly watches United States flyers through Quiet Skies air marshal program

    TSA secretly watches United States flyers through Quiet Skies air marshal program

    Markets

    The program is called Quiet Skies and although we're just hearing about it, it's been going on for years. According to a TSA official, the program has existed in some form since 2010. However, sources within the agency tell ABC News marshals not only follow passengers in flight, but also once they land. "If after that completion of analysis that person is deemed a potential threat to aviation, the flight crew, passengers, they could be entered into the program and be assigned a federal ...
  • Donald Trump mulls imposing 25% tariffs on Chinese goods

    Markets

    In a statement , Lighthizer said the proposed higher tariff is meant to provide the administration with additional options to encourage Beijing to change its trade practices. "Unilateral threats and pressure will only produce the opposite of the desired result", Geng continued. All this is on top of a 25% tariff on $34 billion in goods that's already gone into effect , and similar tariffs that are about to go into effect on another $16 billion in Chinese goods.
  • Higher interest on fixed deposits for NRIs after RBI rate hike

    Higher interest on fixed deposits for NRIs after RBI rate hike

    Markets

    Sixty percent of the economists polled believed that there may be a 25 basis points (bps) rate hike, while the remaining expected a status quo. While raising the key policy rates, the RBI, however, has maintained the neutral policy stance. RBI has sounded sanguine on growth pointing to the rise in bank credit, robust commercial vehicle sales and improving construction activity. It pegged retail inflation at 4.8 per cent for the second half of the current fiscal.
  • Tesla posts record $717 million net loss in second quarter

    Tesla posts record $717 million net loss in second quarter

    Markets

    Musk has insisted the company won't need to raise more capital this year, a view Wall Street has doubted after the company repeatedly pushed back manufacturing targets for its new Model 3. For the company to become profitable, Musk has set new goals to produce 6,000 Model 3s per week by the end of August, and yet another lofty goal for next year to reach 10,000 Model 3s per week.
  • Japanese Yen Looks Past Retail Trade Data, BOJ and Fed in Focus

    Japanese Yen Looks Past Retail Trade Data, BOJ and Fed in Focus

    Markets

    ECONOMIC NEWS: Japan Industrial Production Down 1.2% On Year In June - Japan industrial output slipped 1.2% on year in June, the Ministry of Economy, Trade and Industry said on Tuesday, following the 4.2% jump in the previous month. The Bank of Japan decides the text of the Outlook Report in April and October Monetary Policy Meetings and releases it semiannually, after it has presented its outlook for developments in economic activity and prices, has carefully assessed upside and ...
  • Trump administration sanctions Turkish officials over detained American pastor

    Trump administration sanctions Turkish officials over detained American pastor

    Markets

    The administration said the two sanctioned officials - Turkey's Minister of Justice Abdulhamit Gul and Minister of Interior Suleyman Soylu - both played leading roles in the organizations responsible for Brunson's arrest and detention. The 50-year-old evangelical Presbyterian minister , who hails from North Carolina but has spent more than two decades in Turkey, was swept up in Ankara's wide-ranging crackdown after a failed coup against President Recep Tayyip Erdogan .
  • Yemen’s Houthis halt Red Sea attacks for two weeks

    Yemen’s Houthis halt Red Sea attacks for two weeks

    Markets

    Yemen's Houthi Ansarullah movement has unilaterally suspended its retaliatory attacks in the Red Sea , from where Saudi-led warships have been targeting the war-torn state, especially its strategic port city of Hudaydah. Impoverished Yemen has remained wracked by violence since 2014, when the Shia Houthis overran much of the country, including the capital, Sanaa, forcing the country's pro-Saudi government to take up residence in Aden.
  • Be prepared for higher EMIs after twin RBI rate hikes

    Markets

    The reverse repo rate has been hiked to 6.25%, the RBI announced after its three-day Monetary Policy Committee (MPC ) meeting. Major banks including SBI, ICICI Bank and PNB had hiked lending rates in early June , just ahead of the RBI's June policy review.
  • Tata Motors posts ₹1863-cr loss in Q1

    Tata Motors posts ₹1863-cr loss in Q1

    Markets

    However, the domestic business has turned around with Tata Motors reporting a pre-tax profit of Rs. 1,464 crore as compared to pre tax loss of Rs. 463 crore in the same period a year ago. Despite the weak Q1, the management has reiterated their target of 4-7 per cent EBIT margin for the full year on the back of ramp-up of new models (Electric I-Pace) and new lower duties effective in China.
  • China warns of retaliation if USA takes more trade steps

    Markets

    The tariffs target a range of Chinese imports like dog food, furniture, auto tires, beauty products, and food products, in addition to steel and aluminum. Beijing responded by imposing the same penalties on the same amount of USA imports. USA pressure and blackmail won't have an effect. The Trump administration has threatened to increase the rate of its tariffs against China from 10 percent to 25 percent.
  • Uber to scrap self-driving truck programme to focus on cars

    Uber to scrap self-driving truck programme to focus on cars

    Markets

    In this photo from 2016, an Otto engineer sits behind the steering wheel of a self-driving, big-rig truck during a demonstration in San Francisco. In March, Uber suspended all of its autonomous vehicle operations after one of its Volvo SUV test vehicles struck and killed a woman on a street in Tempe, Ariz.
  • Huawei tops Apple in tightening smartphone market - IDC

    Huawei tops Apple in tightening smartphone market - IDC

    Markets

    These analysts suggest that OnePlus was the fastest growing brand in the premium segment in India this quarter compared to a year ago , ramping up 446%. OnePlus led the premium smartphone segment for the first time ever in India, capturing 40 per cent of the market driven by record shipments of its OnePlus 6 as compared to its previous flagships.