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

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McKinsey also looked at the US dairy industry’s tumultuous first pandemic 12 months, which included milk dumping in April 2020 even as some store dairy cases sat empty. Our survey of fifty US dairy CEOs within the fourth quarter of 2020, followed by interviews, revealed a sense of optimism mixed with concern over changing client tastes. … Read More

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

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Acting in a play, playing in an orchestra, or descending the Grand Canyon involve both energetic participation and immersion in the experience. If you minimize the customers’ energetic participation, nonetheless, an escapist event turns into an experience of the fourth kind—the esthetic. Here customers or individuals are immersed in an activity or surroundings, but they themselves have little or no effect on it—like a tourist who … Read More

© Reuters. FILE PHOTO: Sea gulls sit on a lamppost beside shipping containers stacked at the Paul W. Conley Container Terminal in Boston, Massachusetts, U.S., May 9, 2018. REUTERS/Brian Snyder

WASHINGTON (Reuters) – The U.S. trade deficit in goods surged in September as exports tumbled, suggesting trade probably weighed on economic growth again in the third quarter.

The goods trade deficit increased 9.2% to $96.3 billion, the Commerce Department said on Wednesday. Goods exports dropped 4.7%, while imports gained 0.5%.

The report, which was published ahead of Thursday’s advance third-quarter gross domestic product data, also showed wholesale inventories increased 1.1%

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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

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