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Goldman Sachs calculated how much American Apple profits would decline if China bans the sale of its products after the American authorities have added Chinese Huawei to the list of companies that can buy goods and services in the US only after receiving a special permit. In their calculations, bank analysts used the share of China and Hong Kong in Apple's global sales and the result of lower marketing costs. The calculations did not include the possible introduction of a ban on the assembly of products and the purchase of components. According to experts, the profit of the American company per share may fall by 29%. According to Apple’s report, its earnings per share in the second fiscal quarter, which ended in March, was at 2 dollars 46 cents. The profit figure of the last fiscal year was 11 dollars 91 cents per share.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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