Month: October 2021

Apple shares fell after the world’s largest company missed earnings estimates owing to the global chip crisis, which it said would linger into the holiday period.

Tim Cook, chief executive, said “larger than expected supply constraints” cost the company $6bn in the three months to September, adding that the shortages would cost it even more in the holiday period — its most lucrative time of the year.

Supply constraints “affected the iPhone, the iPad and the Mac”, Cook told investors, citing chip shortages and “Covid-related manufacturing disruptions” in south-east Asia.

The company reported $83.4bn of revenue in its fiscal fourth

The UK has threatened retaliation after France detained a British trawler as a long-running dispute over post-Brexit fishing rights escalated.

Paris said on Wednesday night that it would increase customs and sanitary controls on freight at the border, make stricter checks of trucks coming in and leaving France, and ban trawlers from landing their catch in some French ports. France also repeated a threat to electricity supplies to the UK

France also announced overnight that gendarmes had escorted one British boat to Le Havre because it did not have a licence to fish in French waters. The catch could be

Deutsche Bank relied on the boom in mergers and acquisitions to offset a drop in trading revenues last quarter, as Germany’s biggest bank reported better than expected profits.

Revenue from advising on deals, as well as helping companies issue new debt and equity, rose 22 per cent from the same period last year. Trading revenues dropped 12 per cent, though that decline was smaller than feared.

Like most of its rivals, Deutsche’s bottom line also benefited from a steep decline in provisions for bad loans related to the pandemic. As a result, net profits at the bank rose 7 per