Connect with us

World

Apple surpasses Saudi Aramco to become world’s most valuable company

Published

on

Apple CEO Tim Cook greets attendees during a special event on September 10, 2019 in the Steve Jobs Theater on Apple’s Cupertino, California campus.

Justin Sullivan | Getty Images

Apple rode the company’s strong earnings report to become the world’s most valuable publicly traded company, surpassing the state oil giant Saudi Aramco at Friday’s market close. 

Apple shares closed up 10.47% Friday, giving it a market valuation of $1.84 trillion. Saudi Aramco, which had been the most valuable publicly listed company since its market debut last year, now trails at $1.76 trillion as of its last close. 

Apple’s strong fiscal third quarter earnings, released Thursday, boosted its stock, as investors rallied behind the company’s 11% year-over-year growth. Apple also announced a 4-for-1 stock split

The company has recovered from its pandemic low-point in March. Shares are up more than 44% this year. 

“Despite COVID-19 headwinds, Apple grew revenue in every segment and geography, beating consensus revenue by 14% as ecosystem engagement rises,” Morgan Stanley analysts wrote in a research note Friday.

Source link

World

Relief bill stalls, Trump mulls executive order

Published

on

Continue Reading

World

Russia trying to hurt Biden, but China, Iran don’t want Trump

Published

on

Russian President Vladimir Putin, left, and Chinese President Xi Jinping, right, attend the Tsinghua Universitys ceremony, at Friendship Palace on April 26, 2019 in Beijing, China.

Kenzaburo Fukuhara | Getty Images

Russia is trying to “undermine” presumptive Democratic nominee Joe Biden’s candidacy, while China and Iran are against President Donald Trump‘s reelection, a leading U.S. intelligence official said Friday.

The analysis of the three U.S. adversaries’ alleged interference efforts came in a statement from William Evanina, director of the National Counterintelligence and Security Center, who said he released the information to help Americans “play a critical role in safeguarding our election.”

While many foreign actors have views on who should hold the White House, “We are primarily concerned about the ongoing and potential activity by China, Russia, and Iran,” Evanina said.

He warned that “foreign states will continue to use covert and overt influence measures in their attempts to sway U.S. voters’ preferences and perspectives, shift U.S. policies, increase discord in the United States, and undermine the American people’s confidence in our democratic process” ahead of the Nov. 3 election.

“We are all in this together as Americans,” Evanina said in the statement. “Our election should be our own. Foreign efforts to influence or interfere with our elections are a direct threat to the fabric of our democracy.”

William Evanina, Director of the National Counterintelligence and Security Center, answers a reporters question in Washington, DC.

Bill O’Leary | The Washington Post | Getty Images

The alleged preferences of Russia, China and Iran reflect how Trump and Biden have talked about them on the campaign trail.

Trump in nearly every recent speaking appearance has criticized Beijing for its handling of the coronavirus, which first appeared in the Chinese city of Wuhan. His administration has regularly condemned Iran and attacked it with punishing economic sanctions.

Biden, meanwhile, has slammed Trump for failing to address Russian threats abroad.

China wants Trump to lose in part because Beijing sees him as “unpredictable,” Evanina said.

“China has been expanding its influence efforts ahead of November 2020 to shape the policy environment in the United States, pressure political figures it views as opposed to China’s interests, and deflect and counter criticism of China,” it said.

On Russia, U.S. intelligence assesses that the Kremlin “is using a range of measures to primarily denigrate former Vice President Biden and what it sees as an anti-Russia ‘establishment.'” Russian officials are “spreading claims about corruption” to try to “undermine” Biden and the Democratic Party, the statement said.

“Some Kremlin-linked actors are also seeking to boost President Trump’s candidacy on social media and Russian television,” it said.

Evanina’s statement also says that Iran “seeks to undermine U.S. democratic institutions, President Trump, and to divide the country in advance of the 2020 elections.”

Iran is likely focusing on online influence operations, including social-media disinformation campaigns and promulgating anti-American content.

“Tehran’s motivation to conduct such activities is, in part, driven by a perception that President Trump’s reelection would result in a continuation of U.S. pressure on Iran in an effort to foment regime change.”

This is developing news. Please check back for updates.

Source link

Continue Reading

World

Goldman Sachs cuts earnings, citing provisions relating to the 1MDB scandal

Published

on

Motorcyclists pass a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016.

Olivia Harris | Reuters

Goldman Sachs on Friday lowered its previously stated quarterly net earnings applicable to common shareholders to $197 million from $2.25 billion.

The bank said in a filing it had set aside $2.96 billion for potential legal and regulatory costs, up from the $945 million announced on July 15 with its second-quarter earnings.

On July 24, the bank agreed to pay the Malaysia government $3.9 billion to settle a criminal probe over its role in the multibillion-dollar 1MDB scandal.

Source link

Continue Reading

Trending