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Oil prices edge down after APIs data reveals fall in crude stocks
2016-07-27 01:00:00| Offshore Technology
Oil prices have fallen after data released by the American Petroleum Institute (API) highlighted a drop in weekly stocks was less than expected, raising worries over persistent oversupply.
Apple revenues fall 15%, as iPhone, China sales drop
2016-07-26 22:46:00| Telecompaper Headlines
(Telecompaper) Apple reported revenues of USD 42.2 billion for its fiscal third quarter to June, down from USD 49.6 billion a year ago and towards the high end of its outlook of USD 41-43 billion. The company's gross margin dipped to 38 percent from 39.7 percent in the year-earlier period, also coming in at the end of expectations. Net profit fell to USD 7.8 billion or USD 1.42 per share, from USD 10.7 billion or USD 1.85 per share. Apple CEO Tim cook said the results "reflect stronger customer demand and business performance than anticipated at the start of the quarter" and a successful launch of the iPhone SE. The launch of the cheaper iPhone led to a 23 percent year-on-year drop in revenues from smartphones to USD 24.0 billion, on a 15 percent fall in unit sales to 40.4 million. Compared to the previous quarter, iPhone revenues fell 27 percent and unit sales were down 21 percent.
Oil prices fall as supply glut may continue
2016-07-26 01:00:00| Offshore Technology
Oil prices have dropped towards $44 a barrel due to fears that a prolonged rebalancing of the market may be delayed due to oversupply.
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Scotch volumes drop hits Edrington as FY profits fall - results
2016-07-25 18:05:42| Daily beverage news and comment - from just-drinks.com
Edrington has posted a a drop in full-year profits as its core Scotch brands, The Macallan and The Famous Grouse, lost volumes in key markets.
Pound fall to 'hit Rolls-Royce by 2bn'
2016-07-24 13:32:47| BBC News | Business | UK Edition
Aero engine giant Rolls-Royce will suffer a 2bn writedown as a result of the fall in sterling since the EU referendum result, according to analysts.
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