Wall Street ekes out gain, Apple cuts revenue forecast after the bell

Wall Street edged higher on Wednesday after stumbling out of the starting gate on the first trading day of 2019, while fears of a global economic slowdown were exacerbated after Apple cut its holiday-quarter revenue forecast.  Apple (AAPL.O) dropped 8 percent in extended trading late in the day after the iPhone maker slashed its outlook for the December quarter, blaming weak demand in China. Shares of Apple’s suppliers also fell, and S&P 500 futures ESv1 dropped 1.3 percent, signaling that Wednesday’s modest advance could unwind when the market reopens on Thursday. Read More @ https://www.reuters.com/article/us-usa-stocks/wall-street-ekes-out-gain-apple-cuts-revenue-forecast-after-the-bell-idUSKCN1OW0WY?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29


ECB Takes Over Italy’s 10th Largest Bank as Italy Skids Towards Recession

The European Central Bank has announced the appointment of temporary administrators and a “surveillance committee” at troubled Italian lender Banca Carige, as new data indicated the country is flirting with recession. The ECB intervention follows a failure in December by the middle-weight Genoan bank to achieve shareholder support for a €400m (£360m) bond issue. Italian banks are still exposed to a high proportion of bad loans on their balance sheets following the financial crisis. They are also closely tied to the course of national politics in the country as they are large holders of sovereign debt, risking a so-called ‘doom loop’ effect. It comes as fresh survey data from IHS Markit pointed towards a slowdown in the manufacturing sector across the currency bloc. On a national basis, Italy scored 49.2, just below the 50 mark that indicates growth. This added “to the evidence that the economy was either in or close to recession” in the second half of 2018, according to Claus Vistesen of Pantheon Macroeconomics. Read More @ https://moneymaven.io/mishtalk/economics/ecb-takes-over-italy-s-10th-largest-bank-as-italy-skids-towards-recession-xN39RrvlYUOhKWkTps7C5w/

6% GDP growth below gov’t target – August NEWS – will this happen in 2019?

The closure of Boracay, high prices and tighter mining regulations weighed down the country’s economic expansion in the second quarter to 6 percent year-on-year, or below expectations, the government’s top economist said on Thursday. Read More @ https://newsinfo.inquirer.net/1019721/6-gdp-growth-below-govt-target

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1 Comment
  1. storno brzinol 1 month ago

    Thanks – Enjoyed this article, can you make it so I get an email every time you write a new update?

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